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UsernameSlightly Optimistic
Joined04 Feb '06  18:48
First Post04 Feb '06  20:22
Last Post23 Nov '14  17:53
Total Posts7641
Total Recommendations650

Last 10 posts


23 Nov '14  17:53
British Political Economy
The Japanese decision to renounce austerity is being blamed on Paul Kugman and Joseph Stiglitz. http://www.bloomberg.com/news/2014-11-21/abe-listening-to-krugman-after-tokyo-limo-ride-on-abenomics-fate.html

No doubt the reasoning of the laureates was there are very few enforceable rules in the global financial system; stemming from, as the G20 suggested, national economies themselves being so inadequately regulated. Why should Japan toe the line? See for example Europe forum 21 Nov '14 17:13 - why bother sticking to checks and balances that have long been ignored.
22 Nov '14  21:22
Transportation, Energy & Science
Since Yucca Mountain in Nevada was conceived to permanently store nuclear waste, people have wondered: How do you make a “Keep Out” sign that lasts 10,000 years? [Quartz}
21 Nov '14  18:57
Transportation, Energy & Science
Ming, you raise the absence of common accounting standards.

This is a long-standing problem with little sign of progress. At the World Congress of Accountants, this week in Rome, the matter was again discussed.
Session 1.6 raised the lack of global consistency.
Convergence to a single set of high quality international accounting standards contributes to comparability and consistency, supports global financial stability, and is a matter of public interest.

The lack of enforceable discipline might explain why The Netherlands decided to repatriate some of its gold from the United States, fearing arbitrary fines that could impound all gold sent "for safe keeping" in the US.
21 Nov '14  17:13
European Political Economy
Interesting to read the interview with hedge-fund manager Hugh Hendry in 'Money Week'. http://moneyweek.com/hugh-hendry-full-transcript/

The suggestion is that because the deficiency of demand problem has not been solved, QE will take place big time in the West. This is the only route available for governments, and there is little in the valueless global economy to stop it. Huge write offs will be necessary eventually.

Another sign of economic patriotism is the news from 'Zero Hedge' that The Netherlands has decided to repatriate some of its gold from the United States. http://www.zerohedge.com/news/2014-11-21/gold-repatriation-stunner-dutch-central-bank-secretly-withdrew-122-tons-gold-new-yor
20 Nov '14  13:44
European Political Economy
Recent comments in the UK press on the TTIP. http://www.independent.co.uk/voices/letters/letters-transatlantic-trade-deal-is-an-assault-on-democracy-assault-on-9868874.html

1. Can we be clear about what TTIP represents? Yes, it includes legislation to ensure the inability to renationalise any privatised industry – some people may shrug their shoulders at that. Far more sinister though is the right of companies to sue governments who bring in legislation which may damage those companies’ interests.

2. it’s looking increasingly as if the controversial EU-USA trade deal will be a damp squib. On Monday, the French government announced that it wouldn’t be signing the deal if it included the mechanism that would allow corporations to sue member states in secret courts . . . Across Europe, almost a million people have signed a petition calling for the deal to be scrapped.

The £10bn benefit that Cameron claims TTIP will bring to the economy is based on research that has been widely criticised. A more recent peer-reviewed study from Tufts University has suggested that the deal could bring about the loss of more than half a million jobs across Europe on top of lower wage growth and exports.
20 Nov '14  13:29
British Political Economy
Geopolitics or something, eg Call for climate change cash to be spent in UK rejected

See Energy forum 18 Nov '14 15:05

“India’s development imperatives cannot be sacrificed at the altar of potential climate changes many years in the future,” India’s power minister, Piyush Goyal, said at a recent conference in New Delhi in response to a question. “The West will have to recognize we have the needs of the poor.”

18 Nov '14  15:05
Transportation, Energy & Science
Further to the US-China agreement on carbon emissions, hopes for trade deals that will allow global investors to sue national governments, and postings on 17 October re use of coal.

Coal Rush in India Could Tip Balance on Climate Change
While the United States and China announced a landmark agreement that includes new targets for carbon emissions, and Europe has pledged to reduce greenhouse gas emissions by 40 percent, India, the world’s third-largest emitter, has shown no appetite for such a pledge.

“India’s development imperatives cannot be sacrificed at the altar of potential climate changes many years in the future,” India’s power minister, Piyush Goyal, said at a recent conference in New Delhi in response to a question. “The West will have to recognize we have the needs of the poor.”

Mr. Goyal has promised to double India’s use of domestic coal from 565 million tons last year to more than a billion tons by 2019, and he is trying to sell coal-mining licenses as swiftly as possible after years of delay. The government has signaled that it may denationalize commercial coal mining to accelerate extraction.

“India is the biggest challenge in global climate negotiations, not China,” said Durwood Zaelke, president of the Institute for Governance & Sustainable Development.

18 Nov '14  11:45
Middle Eastern Political Economy
Sovereignty was the main reason an earlier version of the TTIP failed in the past, Ming. Definitely an issue that is due another debate.

You mention France; its leadership scuppered the Multilateral Agreement on Investment. Secrecy surrounded the MAI draft too.
18 Nov '14  09:34
Middle Eastern Political Economy
Ming, interesting link at 17 Nov '14 19:32 - an interview with the secretary of the Russian Security Council.

He said that the total capacity of nuclear, hydro, wind, solar, and other power stations will meet no more than one-fifth of world demand.
Therefore, he thought that political “coalitions” will be formed to support the fair distribution of natural resources. Russia is likely to oppose this on the basis that the resources lie on its sovereign property.

Sovereign property? This is a Pandora's box.

Edit: rather puts the TTIP and the TPP in the shade.
17 Nov '14  18:01
British Political Economy
David Cameron warns of looming second global crash

The parliamentary inquiry found out that the dismissal of financial checks and balances caused the first. System still not fixed. No wonder there's a another crash coming.


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