Despite lots of data for markets to chew over, they are looking for a directional lead from non-farm payrolls, says NAB’s Gavin Friend. Whether they’ll get it or not is the question.
Soaring temperatures in the US and Canada this week are another reminder of climate change. Christine Lagarde says the EU needs to spend €330 billion every year tackling the problem, but where does the money come from? Do governments create it, or do we divert existing money to green initiatives? Question I put to @ProfSteverKeen on this week’s Debunking Economics podcast.
The floating of currencies has created a massive forex industry. @ProfSteveKeen says it has made life harder for speculators, which is a good thing, but the world missed a trick when it ignored Keyne’s idea of the Bancor. https://t.co/NJDPcI33JI