A recession looks more likely every day, and the latest sign of this is slowing price growth in producer prices. After all, price inflation usually slows as the economy weakens and consumers run out of easy money.
Progressives claim that poor nations are that way because wealthy nations exploit them through the capitalist system. Cultural institutions, it turns out, are the most important indicators of wealth and poverty.
Spain's government is attempting to levy a wealth tax ostensibly to be "in solidarity with the poor." Because wealth taxes ultimately help lower real wages, there will be more poor people to share in the "solidarity."