Tag: china

Intellectual Dishonesty and Insanity on Steroids
May 31, 2013 0

Intellectual Dishonesty and Insanity on Steroids

By News Desk

I just finished reading The Smith/Klein/Kalecki Theory of Austerity by Paul Krugman and I believe it is the most disingenuous piece he has ever written. Krugman comes out blazing with the statement ” Noah Smith recently offered an interesting take on the real reasons austerity garners so much support from elites, no matter how badly it fails in practice.

Simmering Feud Between France and Germany Erupts Into Verbal Warfare; France Tells Brussels to Shove It
May 30, 2013 0

Simmering Feud Between France and Germany Erupts Into Verbal Warfare; France Tells Brussels to Shove It

By News Desk

The exchange got quite interesting when Merkel Allies Bashed Hollande Over Needed Reforms Leading members of Angela Merkel’s ruling Christian Democratic Union in Germany have fiercely criticised François Hollande, accusing the French president of “shaking the foundations of the European Unionâ€, only hours before the two leaders met in Paris in a bid to repair their troubled relations. Deep German concern about the French government’s resistance to economic reform and hostility to EU pressure emerged after Mr Hollande said it was not for the European Commission “to dictate†reforms to Paris.“There is no need for European recommendations; what’s needed is obvious. It’s not for the commission to dictate what we have to do,†Mr Hollande said in response to the commission, whose call was part of its annual assessment of budget plans for all 27 EU members

Book Supporting Euro Exit Becomes Instant Bestseller in Portugal; AfD Update
May 28, 2013 0

Book Supporting Euro Exit Becomes Instant Bestseller in Portugal; AfD Update

By News Desk

In an interesting development in the battle to see which country is bright enough to exit the euro first, a book urging a return to the Escudo (the prior Portuguese currency) became an instant a bestseller in Portugal. The Wall Street Journal reports Idea of Euro Exit Finds Currency in Portugal . A book by a Portuguese economist achieved a small feat on its release last month: It instantly topped Portugal’s bestseller list, overtaking several diet books and even the popular erotic novel “Fifty Shades of Grey.” The book, “Why We Should Leave the Euro” by João Ferreira do Amaral, has helped ignite a public debate in Portugal about the real cause of the country’s economic pain: Is it only the hated austerity needed to secure European bailout loans, or is the euro?

Evolution of Spanish Public Debt and Pension Promises
May 28, 2013 0

Evolution of Spanish Public Debt and Pension Promises

By News Desk

Inquiring minds may be interested in a chart of Spanish public debt over time to see how the policies of Spain and the Troika are working out in practice. Evolution of Spanish Public Debt Over Time I picked that chart up from estrategiastendencias . My stab at a translation of text regarding public debt reads "Spanish banks are deluded.

Large Risk of Instability in Japan; Rates Climb Even With Japan Buying 70% of New Issuance
May 27, 2013 0

Large Risk of Instability in Japan; Rates Climb Even With Japan Buying 70% of New Issuance

By News Desk

The correct interpretation of course is "the risk of instability is huge". Please consider Haruhiko Kuroda says rates must stay low until economy improves . Haruhiko Kuroda, Japan’s central bank governor, said the country’s financial system could cope with rising interest rates only once the economy improved, as he laid out the stakes in his attempt to tame the volatile bond market.