Michael Roberts blog

Blogging from a Marxist economist

Recent Analysis

Italy: lurching to the right

Italy goes to the polls this Sunday 27 September.  This is a snap election forced on Italy’s president because the ‘technocratic’ government under former ECB chief Mario Draghi fell after he lost majority support in parliament.  That support was lost, partly because Draghi vigorously backed NATO support for Ukraine against the Russian invasion – somethingContinue reading “Italy: lurching to the right”

The closing scissors and profits

Global corporate profits growth is heading south, according to analysis by JP Morgan economists.  JP Morgan estimates that, after surging a humungous 89% (4q moving ave) in 2021, global corporate profits moderated to a still-solid 24% in the year ending in 2Q22.  And they reckon that “on net, the level of profits is 17% aboveContinue reading “The closing scissors and profits”