A short Krugman paper on trade and manufacturing even if it seems probable that dry stats alone won’t counter Trump; MiFID II and the gig economy; a choose your own Italian constitutional reform adventure; an Indian demonetisation update; the last diplomat; Steve Bannon’s outer-space Shakespearean sex scene; Taibbi reviews Friedman; other stuff….
The Philadelphia Inquirer on Metro Bank chairman Vernon Hill and his “sometime golfing buddy” Donald Trump.
Enodo Economics’ Diana Choyleva believes the world is on the verge of a significant inflationary snapback. The cause, however, isn’t profligate central bank policy as much as a global market correction against the errors of a collectivist top-down planning system which, through globalisation, infected the world.
What would it mean for markets if the US brought back all those untaxed foreign corporate profits? We look at what’s known, what’s unknown, and known unknowns. (Some of it depends on whether the repatriation is literal or figurative. It’s complicated.)