Turkish lira in historic 15% crash after Erdogan stokes fire sale

Lira has shed 45% vs dollar this year, worst in world Central bank has slashed policy rate 400 points since Sept Turks say household budgets, future plans in turmoil Ex-central banker calls for end to ‘irrational experiment’ Erdogan insists tighter policy will not lower inflation Turkey’s lira nose-dived 15% on Tuesday in its second-worst dayContinue reading “Turkish lira in historic 15% crash after Erdogan stokes fire sale”

Jitters in Europe as Russia shows no sign of increasing gas supplies

Putin ordered supply increase once domestic storage full No physical flows between Poland, Germany on Yamal-Europe pipeline Gazprom makes no additional requests via Ukraine Russia showed no sign on Monday of carrying out an order by President Vladimir Putin to pump more gas to Europe, deepening European concerns about tight supplies, high prices and energyContinue reading “Jitters in Europe as Russia shows no sign of increasing gas supplies”

China urges citizens to stock up before winter, prompts confusion and panic buying – Al Jazeera

The Chinese government has asked people to stockpile daily necessities after weeks of supply disruptions caused by COVID-19 outbreaks and extreme weather. But it’s also sparked confusion and panic buying. Experts say China’s emergency food reserves and mechanisms are generally in good shape. But while there isn’t a shortage in supply, price hikes and supplyContinue reading “China urges citizens to stock up before winter, prompts confusion and panic buying – Al Jazeera”

Myanmar currency drops 60% in weeks as economy tanks since February coup

Myanmar’s currency has lost more than 60% of its value since the beginning of September, driving up food and fuel prices in an economy that has tanked since a military coup eight months ago. Many gold shops and money exchanges closed on Wednesday due to the turmoil, while the kyat’s dive trended on social mediaContinue reading “Myanmar currency drops 60% in weeks as economy tanks since February coup”

Ford, Carter, and the Economic Malaise: Crash Course US History #42

In which John Green teaches you about the economic malaise that beset the United States in the 1970s. A sort of perfect storm of events, it combined the continuing decline of America’s manufacturing base and the oil shocks of 1973 and 1979, and brought about an stagnant economy, paired with high inflation. Economists with aContinue reading “Ford, Carter, and the Economic Malaise: Crash Course US History #42”

UN says global food prices have reached their highest mark in a decade

Global food prices were at their highest level in nearly a decade in May, soaring 40 per cent above costs a year ago, the UN Food and Agriculture Organization (FAO) has said. The FAO’s food price index has now risen for 12 consecutive months to reach its highest value since September 2011, driven by theContinue reading “UN says global food prices have reached their highest mark in a decade”

Economic Depression and Dictators: Crash Course European History #37

We’re still leading up to World War II, but first we gotta talk about the rise of the dictators. Today we talk about the rise of militaristic dictatorships in Germany, the Soviet Union, Japan, and Spain, and the economic depression that set the stage for their rise. Note from Among the Fray: Now that weContinue reading “Economic Depression and Dictators: Crash Course European History #37”

The Spanish Empire, Silver, & Runaway Inflation: Crash Course World History #25

In which John Green explores how Spain went from being a middling European power to one of the most powerful empires on Earth, thanks to their plunder of the New World in the 16th and 17th centuries. Learn how Spain managed to destroy the two biggest pre-Columbian civilizations, mine a mountain made of silver, mishandleContinue reading “The Spanish Empire, Silver, & Runaway Inflation: Crash Course World History #25”

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