#Italy, basic #goods #inflation again on the rise (10% y2y), #government doing nothing to help less affluent population, https://www.ilfattoquotidiano.it/2023/08/10/linflazione-frena-anche-a-luglio-ma-i-prezzi-degli-alimentari-continuano-a-salire-di-oltre-il-10-consumatori-servono-misure-serie/7257954/ #poverty #society #politics #economy #monetarism

How to stop #greedflation.
"An innovative ECB monetary policy, promoting investment and employment, should thus be complemented by regulatory measures by member states. These should cap the price of gas, and decouple that of electricity from it, while also putting a ceiling on rents. Above all, super-profits should be skimmed off via competition law and an effective excess-profits tax."
https://www.socialeurope.eu/price-and-profit-curbs-or-how-really-to-fight-inflation
#pricecap not #deadbeat #monetarism and #classwar from above.

I suspect that we are in a stop-start rolling #financial #crisis that will continue to take down bigger and bigger players. This has been brought on by #neoliberal sado-#monetarism of the central banks combined with the effects of the (counterproductively) broad-spectrum #economicwar (#sanctions) against #putin 's #russia.
Anne Pettifor explains some of the processes usefully here:
https://annpettifor.substack.com/p/a-sudden-paralysis-of-the-system
@AnnPettifor

JP Morgan says that the Fed plans to inject $2 trillion of emergency money into the banking system. If this isn't the vicious return of monetarism, I don't know what is. Jobs? Fuck you. Income inequality? Fuck you. A return to Milton Friedman bullshit, courtesy of chickenhead Jerome Powell, who looks to be Volcker on steroids. If you're not worried about the immediate present, you're not paying attention. This is going to be bad, folks. Worse than Thatcher and Reagan combined.

#fed #monetarism

Friedman's orthodoxy - #monetarism - has reigned supreme for decades, which is ironic, given that Friedman and his colleagues at the #ChicagoSchool of Economics claimed that they had elevated economics into an empirical, quantitative science, a kind of physics of human action, not like those squishy, #SocialSciences.

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