According to the data and predictions of economists, the worst of the inflation spike may have passed but interest rates will still go up in the coming months and banks will be hawkish, imposing the tightest requirements for lending since 2011.
The official story is that the U.S. economy grew by 1.1% in the first quarter. This number is heavily modified and tells us nothing. We have the real numbers.
The more a tax system relies on financial markets, the more volatile and unpredictable those tax revenues will become. There is no doubt that the U.S. government is experiencing that in real time in 2023.
This marks the second year in a row that the socialist-communist coalition government of Pedro Sanchez has failed to adequately use the generous subsidies from the European Union.
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