Author: nick
[ad_1] Cargo ship entering the Columbia River. Photo: Jeffrey St. Clair. When Trump decided to whack us with his “liberation day” tariffs last April, he assured us that exporters would eat the tariffs, so that consumers didn’t pay higher prices. There was a large body of research that showed otherwise, but Trump insisted that he knew more than the economists. Trump’s tariffs have been in place for more than a year, and it’s very clear that exporters have not eaten the tariffs, as Trump promised they would. There is some careful research that tries to determine the extent to which…
[ad_1] The US president says he is holding off on a US attack planned for Tuesday as [ad_2] Source link
[ad_1] The Cuban people have vowed to resist a new U.S. invasion, writes Marjorie Cohn. Cuban President Miguel Diaz-Canel said the nation is a “free sovereign state” with the right to “self-determination,” and not “subject to the designs” of the U.S. Motorist passing a mural in Havana in undated photo. “Abajo el bloque,” or “Down with the blockade.” (Desmond Boylan, CC-BY, Flickr) By Marjorie CohnSpecial to Consortium News Since the 1959 Cuban Revolution, the U.S. government has sought to foment regime change in Cuba. In 1961, the C.I.A. orchestrated the failed Bay of Pigs invasion, when C.I.A.-trained Cuban exiles landed at…
[ad_1] By almost any measure, President Donald Trump’s war on Iran has been a catastrophic failure. Thousands of Iranian civilians and 13 American service members have been killed. Iran’s shutdown of the Strait of Hormuz has resulted in the largest oil supply disruption in history. As fuel, food, and fertilizer prices rise, a potential global recession is in the offing. U.S. credibility with allies in Europe, Asia, and the Middle East has been severely damaged. The Pentagon recently reported the U.S. has spent $25 billion on the war—an undoubtedly conservative figure, as some estimates suggest the price tag is three…
[ad_1] Image by Philipp Thelen. You can learn something about a culture from its origin myth. Like most boys growing up in Southern California, I believed the founding myth of the United States. Coming to a continent with just a few native tribal people, European settlers took control of an almost empty land, letting the few remaining ‘Indians’ have a chance to live on reservations. ‘The land was ours before we were the land’s’: So the poet Robert Frost famously declared in a poem at the inauguration of President J. F. Kennedy. Even if you don’t know the political history,…
[ad_1] President Donald Trump clearly wants the Iran War to be over, if the Iranians will give him a face-saving way out. He is not yet ready to give any kind of face-saving way out to the Iranians. Should that basic dynamic change, allowing Trump to declare victory and come home, he will quickly learn that the people who cheerled him into this war will turn on him once he wants to end it. Their goals are maximalist. They seek regime change or as close to it as they can get. Trump wants something closer to Venezuela, decapitating the regime…
[ad_1] The Federal Reserve is yapping too much about the economy, according to Kevin Warsh, the US central bank’s incoming leader. [ad_2] Source link
[ad_1] Sorry, Democrats: 'No Bad Ideas' Is a Uniquely Bad Idea [ad_2] Source link
[ad_1] Bill Cassidy lost his primary but made a winning concession speech against the president. [ad_2] Source link
[ad_1] In the Asian shock, four transmission channels play a role. In the case of oil, elevated risk premium is coupled with physical tightening via Strait of Hormuz disruptions. Lliquefied natural gas (LNG) poses a more severe constraint than oil and thus structural tightening of Asian gas balances. Meanwhile, coal substitution is experiencing a short-term demand surge in Asia, especially in India, China and Southeast Asia. On the economic side, countries are struggling with imported inflation, foreign exchange pressure, and painful policy trade-offs between subsidy support and fiscal stability. The shock is no longer a temporary price spike but a…