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Europe: In Preparation for a Colder Winter

The euro area is currently experiencing its fourth COVID wave with infection rates that clearly exceed the previous waves, particularly, in countries where the vaccinated share of the population is rather low. In September, excess mortality had already increased by 12% compared with the years 2016-2019. To date, Southern European …

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US Turning to China for Help to Cool Inflation

The United States is “turning to China for help” to cool inflation by releasing some of its oil reserves, the state-backed Global Times said in an editorial on Wednesday (Nov 24), adding that the move will benefit everyone but China “has the upper hand”.” Washington has asked some of the …

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OPEC can’t Make High Oil Prices Go away

High oil prices are a symptom of economic and monetary imbalances, not just a consequence of Organization of the Petroleum Exporting Countries (OPEC) decisions. Throughout history, we have seen how OPEC cuts have done little to elevate prices when diversification and technology added to rising efficiency. Likewise, OPEC output increases …

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Russia’s Role in Europe’s Gas Crisis

Natural gas prices have spiked worldwide, with price surges most acutely felt in Europe. There are few short-term solutions to the problem, but recent gas flows from Russia have resulted in huge moves in the market, highlighting the enormous sway that Russia has over the gas market at the moment. …

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The World Economy is Suffering Long COVID

First it was rental cars, then building materials. Then it was housing, food, petrol. We are experiencing price rises not seen since the 1970s, or at least since the introduction of the euro, as we used to complain. First, we tried to talk it down. It will be ‘transitory’, was …

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