asterisk2a + bric   185

A hard truth for Leave voters: Brexit means big government
Britain has seen a renaissance in jobs since 2013, of that there is no doubt. But most of those extra jobs were among the self-employed or fell into categories that can only be described as insecure and low-paid. When companies finally took the plunge and advertised full-time jobs from 2014 onwards, around a third went to migrants. [...] It is this mostly older group of workers across the developed world, worried about their pay, pensions and conditions of employment, that want to slam the brakes on globalisation and reject the remedy proposed by big business: greater labour-market flexibility and only limited job protections. [ Globalisation as a great rebalancing of the world economy between the west and the rest (BRIC and co) ] [...] Only government can provide the cure, with a commitment to invest where the private sector cannot or will not go.
globalisation  globalization  squeezed  middle  class  Precariat  working  poor  job  security  job  insecurity  self-employment  neoliberal  neoliberalism  liberal  economic  reform  Agenda  2010  Zero  Hour  Contract  OECD  BRIC  USA  UK  Germany  France  economic  history  capitalism  capitalism  in  crisis  protectionism  Brexit  exploitation  crony  capitalism  tax  evasion  tax  avoidance  immigration  migration  Philip  Hammond  austerity  Workers  Union  Workers  Rights  Trade  Union  Theresa  May  Conservative  Party  nasty  Tories  budget  deficit  neoclassical  economics  Chicago  School  deflation  deflationary  aggregate  demand  aggregate  demand  short-fall  Richard  Koo  free  free  agreement  underinvestment  business  confidence  productivity  productivity  gap  productive  investment  output  output  gap  technological  unemployment  skills  economy  skills  gap  skill  gap  industrial  policy  Manufacturing 
july 2016 by asterisk2a
Behind the Bond-Stock Divide Is a Big and Risky Bet on Central Banks - WSJ
The idea is that if stocks are rising, bond yields should be climbing too. Here's how to reconcile it. The answer is central banks. If rates are going to stay lower for longer; if more rounds of quantitative easing are coming; if new ways of easing are coming -- the rates should be going down and stocks moving higher. [...] It's about dividends paying more than bonds. 90% of the bond market universe is near 2% or lower. //&! http://www.zerohedge.com/news/2016-07-12/germany-about-sell-zero-coupon-10-year-bonds-first-time-ever //&! http://www.zerohedge.com/news/2016-07-13/we-just-found-out-who-has-been-buying-all-these-record-low-yielding-bonds - When your nation's bonds are trading with a record low 28bps negative yield (10Y JGBs), everything else in the world (aside from Swiss 10Y) is a relative 'value'...
bond  bubble  ZIRP  NIRP  QE  equity  bubble  hunt  for  yield  central  banks  BIS  Fed  BOE  ECB  BOJ  PBOC  secular  stagnation  wage  growth  output  gap  productivity  gap  squeezed  middle  class  working  poor  Precariat  inequality  Gini  coefficient  western  world  rising  middleclass  Asia  BRIC  income  distribution  tax  evasion  tax  avoidance  crony  capitalism  capitalism  in  crisis  capitalism  neoliberal  neoliberalism  globalisation  global  economy  globalization  free  trade  dividends  underinvestment  business  confidence  consumer  confidence  discretionary  spending  disposable  income  student  debt  consumer  debt  car  loan  property  bubble  speculative  bubble  speculative  bubbles  distortion  asset  allocation  austerity  AI  Robotics  automation  augmented  intelligence  Structural  Impediments  imbalance  unemployment  long-term  unemployment  skills  gap  skill-biased  technological  change  skills  shortage  economic  history  Brexit  technological  history  underemployed  underemployment  part-time  deflation  deflationary  JGB 
july 2016 by asterisk2a
Does The Myth of Meritocracy show us how to alleviate inequality?
No debate about social mobility is complete without reference to the supposedly halcyon days of the 1950s and 1960s. The class fluidity of those decades, however, was not the result of professions becoming more meritocratic. It was caused by an unprecedented rise in the number of middle-class jobs: there was more room at the top. [...] Bloodworth writes that 21st-century society is characterised by a dwindling of professional jobs and more people slipping downwards: there is “more room at the bottom”. [...] Globalisation has created what the economist Robert H Frank calls “winner-takes-all” markets
downward  mobility  social  mobility  income  mobility  inequality  Paul  Mason  book  post-capitalism  James  Bloodworth  Gini  coefficient  income  distribution  structural  unemployment  long-term  unemployment  skill  gap  skills  gap  skill  mismatch  skill-biased  technological  change  AI  artificial  intelligence  globalisation  globalization  rising  middleclass  squeezed  middle  class  BRIC  Manufacturing  economic  history  sociology  Brexit  Identitypolitics  Identitätspolitik  career  ladder  education  bubble  education  cost  autonomous  car  autonomous  cars  self-driving  cars  augmented  intelligence  Robotics  Robots  automation  neoclassical  economics  Chicago  School  trickle-down  economics  trickle-down  effect  1%  10%  20%  working  poor  Precariat  credit  card  credit  card  debt  consumerism  consumerist  austerity  bank  bailout  capitalism  in  crisis  neoliberal  neoliberalism  crony  capitalism  tax  evasion  tax  avoidance  Baby  Boomers  babyboomers  Elizabeth  Warren  Joseph  Stiglitz  poverty  trap  poverty  child  poverty  rentier  rent-seeking  winner  take  all  monopoly  monopsony  conglomerate  multinational  Toff  Privileged  Establishment  No  Representation  Politicians  career  politician  Centrist  meritocracy  meritocratic  plutocracy  oligarchy  capitalism 
july 2016 by asterisk2a
Canada Overwhelmed By 100,000 Chinese Millionaire Immigrants - YouTube
Flaunting your wealth. No connection w your culture and heritage. [...] also land taxes based on property value make it not affordable for some ... [...] Chinese love their property, half of their wealth/portfolio ... // http://www.theglobeandmail.com/report-on-business/top-business-stories/canadian-house-prices-from-overvaluation-to-downright-zany/article30535075/ &! http://www.cbc.ca/news/business/canada-banks-mortgage-1.3643793 - Canadian banks could survive a 25% house price decline, Moody's says. Banking system would be fine even if Toronto and Vancouver see a crash, ratings agency says.
Beton  Gold  Betongold  Canada  USA  China  property  bubble  real  estate  bubble  UK  globalisation  globalization  immigration  economic  history  asset  allocation  affordability  affordable  housing  social  housing  Generation  Rent  rent-seeking  rentier  ZIRP  NIRP  QE  BOC  secular  stagnation  migration  valuation  asset  bubble  asset  liquidity  distortion  distorted  Germany  1%  Super  Rich  Gini  coefficient  inequality  Latin  America  BRIC  emerging  middle  class  India  Asia 
june 2016 by asterisk2a
UK GDP growth – beware the march of the spenders | Business | The Guardian
the breakdown was deeply troubling. What it showed was an economy unhealthily reliant on consumer spending. Real household spending was up 0.7% on the quarter and added 0.5 percentage points to the growth rate. In other words, the other components of growth – investment, trade and government spending – contributed -0.1 points to growth during the first three months of the year. [...] drop in business investment, which was down both over the quarter and over the year. //&! bit.ly/1RjxDnh - Making things matters. This is what Britain forgot. Ha-Joon Chang. The neglect of manufacturing and over-development of the financial sector is the cause of the economy’s decline, not fear of leaving the EU
UK  2016  recovery  Manufacturing  George  Osborne  industrial  policy  David  Cameron  austerity  Brexit  secular  stagnation  USA  world  economy  underinvestment  Smart  Grid  competitiveness  competitive  advantage  competitive  China  Steel  Crisis  Steel  Industry  BRIC  European  Union  Fiscal  Pact  Schuldenbremse  ZIRP  NIRP  distortion  policy  monetary  policy  Mark  Carney  short-termism  short-term  thinking  short-term  view  Career  Politicians  general  election  2015  general  election  2020  Conservative  Party  neoliberalism  neoliberal  tax  evasion  tax  avoidance  Panama  Papers  HMRC  income  tax  receipts  employment  self-employment  Precariat  minimum  wage  wage  growth  productivity  output  gap  savings  rate  housing  bubble  property  bubble  business  confidence 
may 2016 by asterisk2a
The Growth Trap
[ growing for growth sake! vs growing in a world/area that is not conducive to grow ] When Twitter went public in 2013, its stock soared and its value jumped to $25 billion. Its founders and early investors got rich. But since then, the company has been considered a failure, despite the fact that it boasts 320 million active users, because it's not growing fast enough. Douglas Rushkoff, author of "Throwing Rocks at the Google Bus: How Growth Became the Enemy of Prosperity," talks to Steve Paikin about why he sees the push for more growth as dangerous. // true capitalists (shareholder, crony, greedy) w/o self-regulation or governance extract all the value there is to extract and then leave, dispersing it to the few who already have [...] WE MUST REWRITE THE RULES OF THE GROWTH GAME ITSELF! [...] you want to optimise the economy based on velocity of money (circulation of money), not share price and value extraction [...]
Venture  Capital  Unicorn  shareholder  capitalism  Greed  shareholder  value  profit  maximisation  profit  maximization  Wall  Street  Wall  Street  activists  Yahoo!  Google  Inc.  Alphabet  Inc.  Microsoft  IBM  Intel  Oracle  capitalism  exploitation  Super  Rich  short-termism  short-term  thinking  1%  plutocracy  oligarchy  M&A  economic  growth  growth  round  Mutual  Fund  macroeconomic  policy  secular  stagnation  Private  Equity  MBO  Pivot  IPO  dividends  prosperity  Start-Ups  Start-up  s&p500  pension  scheme  pension  finite  resources  resource  depletion  economic  history  creative  destruction  share  buyback  Apple  capitalism  in  crisis  capitalist  Uber  monopoly  oligopol  oligopoly  antitrust  corruption  western  world  squeezed  middle  class  emerging  middle  class  BRIC  business  cycle  company  book  cost  center  overhead  costcutting  operating  performance  operating  margin  globalisation  globalization  Universal  Basic  Income  artificial  intelligence  AI  augmented  intelligence  Robotics  automation  structural  unemployment  materialism  consumerism  status  anxiety  disenfranchise  disenfranchised  youth  unemployment  post-capitalism  Mobile  Banlieue  deprivation  poverty  trap  poverty  meritocracy  meritocratic  Gini  value  coefficie 
april 2016 by asterisk2a
IMF urges more spending to boost growth
Fund’s steering committee calls for more forceful stimulus and warns monetary policy alone is not enough //&! http://www.theguardian.com/business/imf //&! bit.ly/1V9pfhD - IMF chief: regulators long 'alarmed' over Panama's handling of taxation. Christine Lagarde responds to Panama Papers revelations, noting that authorities were concerned but did not take ‘expected’ action.
secular  stagnation  Panama  Papers  tax  evasion  tax  amnesty  tax  avoidance  corporate  tax  rate  labour  market  job  market  Service  Sector  Jobs  income  tax  receipts  budget2016  George  Osborne  David  Cameron  general  election  2015  general  election  2020  election  campaign  promises  Party  Funding  Richard  Koo  Confidence  Fairy  austerity  underinvestment  Generationengerechtigkeit  triple-lock  pension  fairness  Generation  Rent  Housing  Crisis  property  bubble  USA  UK  reflation  reflate  fiscal  policy  Pact  Schuldenbremse  Angela  Merkel  Wolfgang  Schäuble  GFC  sovereign  debt  banking  bank  bailout  job  creation  squeezed  middle  class  working  poor  disposable  income  discretionary  spending  IMF  OECD  credit  bubble  China  BRIC  recovery  Germany  economic  history  2016  Niall  Ferguson  budget  deficit  offshore  banking  investment  banking  TBTF  self-regulation  Greed  crony  capitalism  shareholder  capitalism  globalisation  globalization  global  economy  Oil  price  commodity  prices  ChristineLagarde  inequality  Gini  coefficient  income  mobility  social  mobility  low  pay  low  income  tax  credit  child  poverty  food  poverty  health  care  cost  health  care  demand  western  world  European  Union  Brussels  Brexit  Grexit  sick  population  health  economic  Union  Union  investment  policy  fiscal  me 
april 2016 by asterisk2a
Future of Steel - Ken Clarke & Paul Mason - BBC Newsnight
[TORIES CRISIS: bedroom tax, JSA sanctions killing people, Food Banks, redefining child poverty and fuel poverty, Independent Living Fund closed, Housing Crisis, tax cut defeat in Lords, mental health, NHS strikes, Hinkley Point C, energy prices, London Airport expansion/3rd runway, ESA cut, PIP cut and resignation of IDS, Brexit splitting the Party, shit world economy, can't touch triple-lock pensions, Academy plans, Panama Papers (British Territory: Bahamas, Cayman & Co).] Now - Tories are victims to their own policy of underinvestment since 2010 of a future-proof economy "long-term predictability" [BREXIT & austerity not predictable]. Energy prices too high, not competitive. Manufacturing never recovered. Monetary policy has run its course (sedative + Chinas credit bubble). policy folly now wholly exposed! AND now they tinker with the idea of picking winners! LOL! nationalising or part-nationalising through guarantees or subsidies on energy price. & youtu.be/QJw24Z-cEoQ
underinvestment  austerity  Smart  Grid  energy  policy  energy  price  competitive  advantage  competitive  George  Osborne  David  Cameron  budget2010  budget2015  Budget2016  Manufacturing  current  account  deficit  budget  deficit  trade  deficit  TPP  AIIB  World  Bank  China  BRIC  commodity  prices  heavy  industry  microeconomic  policy  macroeconomic  policy  macroprudential  policy  Mark  Carney  education  policy  skills  gap  skill  gap  skill  investment  apprenticeship  further  education  immigration  migration  Tories  Conservative  Party  nasty  NIRP  ZIRP  QE  recovery  output  gap  productivity  productivity  gap  Service  Sector  Jobs  job  creation  labour  market  job  market  DWP  Iain  Duncan  Smith  general  election  2015  election  campaign  promises  Manifesto  corporate  restructuring  corporate  welfare  subsidies  subsidizing  corporate  subsidies  Privatisation  Nationalization  Nationalisation  constituency  Party  Funding  general  election  2020  IMF  OECD  policy  folly  policy  error  global  economy  credit  bubble  Germany  Hinkley  Point  C  renewable  energy  energy  storage  job  creation  fiscal  policy  monetary  policy  Mark  Carney  QE  ZIRP  NIRP  property  bubble  rent-seeking  rentier  liquidity-trap  liquidity  trap  Housing  Crisis  Help  to  Save  Help  to  Buy  Scheme  Right  to  Buy  Buy-to-Let 
april 2016 by asterisk2a
Yanis Varoufakis Candid Interview - Shocking Disfunction and The Power Of Oligarchs
Europe will not survive next crisis. [...] end of interview - China looked after the rest of the world and especially Germany after 2009 (credit bubble) as USA looked after Germany in the 50's - Wirtschaftswunder. Now China is trying its best not to implode and fall below 5% of growth per annum. And now USA is trying to contest Asia (excluding China) economically and militarily through TPP and military increase in that region. //&! Yanis Varoufakis - Guardian Live - youtu.be/md6_WfF9Ky0
Grexit  Troika  IMF  oligarchy  plutocracy  Greece  corruption  bribery  Yanis  Varoufakis  Tsipras  referendum  Wolfgang  Schäuble  Angela  Merkel  Brussels  European  Union  Gold  Standard  economic  history  liberal  economic  reform  antitrust  cartel  tax  evasion  tax  avoidance  Schwarzgeld  Schwarze  Kassen  Schwarzkasse  ChristineLagarde  Panama  Papers  revolving  door  lobby  No  Representation  Career  Politicians  trust  far-right  right-wing  sovereign  debt  crisis  ECB  MarioDraghi  banking  crisis  bank  bailout  GFC  democracy  neoliberal  neoliberalism  shareholder  capitalism  crony  capitalism  Chicago  School  China  credit  bubble  BRIC  USA  Hegemony  TTIP  TPP  geopolitics 
april 2016 by asterisk2a
Tyler Cowen: "The Great Stagnation", Michael Vassar & Cowen Debate at Singularity Summit 2011
gains are harder to come by! low hanging fruit gone. [...] VISION IS NEEDED TO GET THE JOB DONE.
secular  stagnation  western  world  underinvestment  R&D  R&D  innovation  Innovators  Dilemma  rentier  rent-seeking  oligopol  oligopoly  winner  take  all  babyboomers  Generationengerechtigkeit  fairness  austerity  triple-lock  pension  pension  obligation  recovery  Super  Rich  1%  plutocracy  oligarchy  No  Representation  lobby  Career  Politicians  OAP  demographic  bubble  ageing  population  sick  population  health  crisis  economic  damage  climate  crisis  climate  change  global  warming  productivity  gap  output  gap  GDP  measurement  GNP  nominal  GDP  targeting  inflation  targeting  BRIC  creative  destruction  Mobile  Debt  Super  Cycle  servitude  servicing  service  income  tax  receipts  tax  evasion  tax  avoidance  Moore's  Law  COP21  macroeconomic  policy  microeconomic  policy  OECD  IMF  crony  capitalism  Privileged  Establishment  shareholder  capitalism  profit  maximisation  profit  maximization  shareholder  value  revolving  door  Wall  Street  squeezed  middle  class  working  poor  disposable  income  trickle-down  economics  neoliberal  neoliberalism  discretionary  spending  renewable  energy  infrastructure  investment  Smart  Grid  AI  artificial  intelligence  augmented  intelligence  Autonomous  Cars  ZIRP  NIRP  QE  New  stagnation 
april 2016 by asterisk2a
Waiters And Bartenders Rise To Record, As Manufacturing Workers Drop Most Since 2009
On the surface, the March jobs reported was better than expected... except for manufacturing workers. As shown in the chart below, in the past month, a disturbing 29,000 manufacturing jobs were lost. This was the single biggest monthly drop in the series going back to December 2009. But not all is lost: as has been the case for virtually every month during the "recovery", virtually every laid off manufacturing worker could find a job as a waiter: in March, the workers in the "Food services and drinking places" category, aka waiters, bartenders and minimum wage line cooks, rose again to a new record high of 11,307,000 workers, an increase of 25K in the month, offsetting virtually all lost manufacturing jobs. This is how the two job series have looked since the start of 2015: 24k manufacturing jobs have been lost in the past 14 months compared to an increas of 365K food service workers.
UK  USA  job  creation  Manufacturing  industrial  policy  competitiveness  competitive  Service  Sector  Jobs  minimum  wage  low  pay  low  income  productivity  productivity  gap  recovery  economic  history  budget  deficit  income  tax  receipts  IRS  HMRC  trade  deficit  current  account  deficit  precarious  work  Precariat  squeezed  middle  class  job  loss  job  security  job  insecurity  working  poor  Contractor  Zero  Hour  Contract  Budget2016  George  Osborne  STEM  skills  gap  apprenticeships  2015  2016  China  BRIC  global  economy  global  trade  globalisation  globalization  outsourcing  self-employment  tax  free  income  tax  credit  social  safety  net  welfare  state  output  gap  participation  rate  babyboomers  western  world  secular  stagnation  Support  income  growth  wage  stagnation  disposable  income  discretionary  spending  household  debt  consumer  debt  credit  card  debt  car  loan  student  debt  Generation  Rent  Generationengerechtigkeit  tax  evasion  tax  avoidance  tax  amnesty  crony  capitalism  shareholder  capitalism  profit  maximisation  profit  maximization  Wall  Street  shareholder  value  multiplier-effect  austerity 
april 2016 by asterisk2a
Studie: Deutschland investiert weniger in erneuerbare Energien
Während der Rest der Welt kräftig Geld in erneuerbare Energien steckt, sind die Investitionen in Deutschland deutlich zurückgegangen. Die Schwellenländer überholten erstmals die Industriestaaten.
renewable  energy  underinvestment  Germany  western  world  BRIC 
march 2016 by asterisk2a
Al Gore urges world leaders to sign Paris climate deal
[ - ALL VOLUNTARY! - ]‘While the deal is not enough by itself, it is a major step forward,’ says former US vice president and climate campaigner during visit to Philippines
COP21  USA  presidency  barackobama  Supreme  Court  Washington  republicans  presidential  election  2016  republican  China  climate  change  BRIC  global  warming  western  world 
march 2016 by asterisk2a
Europe Must Stand Up to American Cyber-Snooping - SPIEGEL ONLINE
Is Barack Obama a friend? Revelations about his government's vast spying program call that assumption into doubt. The European Union must protect the Continent from America's reach for omnipotence.
USA  presidency  barackobama  War  on  Terror  organised  crime  Surveillance-Industrial  Complex  Orwellian  State  surveillance  bulk  data  collection  FISA  Court  FISAAA  Edward  Snowden  cablegate  Wikileaks  Chelsea  Manning  Whistleblower  UK  NSA  FBI  CIA  MI5  MI6  GCHQ  Snoopers  Charter  Patriot  Act  Fear  fearmongering  scaremongering  Internet  Privacy  Privacy  human  rights  Secret  Courts  Big  Vorratsdatenspeicherung  Dataretention  mobilephone  Hegemony  China  Russia  BRIC  Empire 
march 2016 by asterisk2a
Brasilien: Nach Giftschlamm-Katastrophe zahlt Samarco Entschädigung - SPIEGEL ONLINE
Das Schlammdesaster im Rio Doce gilt als eine der schlimmsten Umweltkatastrophen Brasiliens. Nun zahlen die Verantwortlichen Schadensersatz - laut Präsidentin Rousseff ein "historisches Abkommen".
Brazil  fossil  fuel  Petroleum  Industry  commodity  prices  BRIC  self-regulation  ecological  disaster  environmental  disaster  industrial  accident  regulation  regulators  Wall  Street  profit  maximisation  shareholder  value  mining 
march 2016 by asterisk2a
Konjunktur: Welthandel erlebt schwächstes Jahr seit Krise - SPIEGEL ONLINE
Die schwächelnde Nachfrage aus den Schwellenländern hat 2015 zum schlimmsten Jahr für den Welthandel seit dem Ende der Finanzkrise werden lassen. Die Nachricht schürt wachsende Besorgnis über die Entwicklung der Weltwirtschaft.
China  credit  bubble  2015  2016  global  economy  global  trade  western  world  secular  stagnation  economic  history  BRIC  emerging  middle  class  squeezed  middle  class  wage  stagnation  aggregate  demand  recovery  Richard  Koo  austerity  Fiscal  Pact  Schuldenbremse  UK  USA  Europe  Japan  Abenomics 
march 2016 by asterisk2a
Mervyn King: new financial crisis is 'certain' without reform of banks | Business | The Guardian
The former Bank of England governor says in his new book that imbalances in the global economy makes a crash inevitable [...] GFC was the fault of the financial system, not individual greedy bankers, in his new book, The End Of Alchemy: Money, Banking And The Future Of The Global Economy [...] “Without reform of the financial system, another crisis is certain, and the failure ... to tackle the disequilibrium in the world economy makes it likely that it will come sooner rather than later,” Lord King wrote. [...] global central banks were caught in a “prisoner’s dilemma” - unable to raise interest rates for fear of stifling the economic recovery, the newspaper reported. [... blame] broken financial system. [...] failure of a system, and the ideas that underpinned it, [...] “Only a fundamental rethink of how we, as a society, organise our system of money and banking will prevent a repetition //&! dailym.ai/21tPG5y
bank  crisis  banking  crisis  investment  banking  self-regulation  retail  banking  Greed  financial  product  regulation  regulators  City  of  London  George  Osborne  Mark  Carney  macroprudential  policy  property  bubble  austerity  liquidity  trap  secular  stagnation  job  creation  Service  Sector  Jobs  economic  history  GFC  neoliberalism  neoliberal  trickle-down  economics  free  market  ZIRP  NIRP  QE  faultlines  hot-money  hunt  for  yield  distortion  financial  repression  emerging  middle  class  emerging  market  Frontier  Markets  BRIC  China  Brazil  credit  bubble  2016  reflate  reflation  junk  bond  revolving  debt  household  debt  mortgage  market  consumer  debt  UK  IMF  OECD  credit  card  debt  car  loan  BOE  MervynKing  ECB  Fed  Europe  deflationary  deflation  Gini  coefficient  inequality  MarioDraghi  Taper  QT  bonuses  bonus  global  imbalances  structural  imbalance  Career  Politicians  lobbyist  lobby  Lobbying  revolving  door  New  Normal  speculative  bubbles  Richard  Koo  Fiscal  Pact  Schuldenbremse 
february 2016 by asterisk2a
South Africa's economy 'in crisis' - BBC News
He conceded the economy was struggling with shrinking growth, 25% unemployment, and widespread poverty. The South African currency, the rand, which has halved over the past five years, fell after the speech. It dropped 2.25% to make one rand worth around $0.0639. In a briefing ahead of the Budget, Mr Gordhan said: "There is no doubt about the fact that we are in crisis." The measures announced in Parliament were aimed at stopping the country falling into recession and to appease the rating agencies who have threatened to downgrade South Africa to junk status, which would raise borrowing costs for the country.
South  Africa  BRIC  2016  China  Africa  economic  history  contagion  credit  bubble 
february 2016 by asterisk2a
Brexit-Befürworter träumen vom Singapur auf Steroiden - SPIEGEL ONLINE
Ohne EU geht es der britischen Wirtschaft besser: Das versprechen Brexit-Befürworter, die mehr Handel und weniger Bürokratie erwarten. Doch ihre Hoffnungen sind mit hohen Risiken behaftet. [...] Am Dienstag warnten die Chefs von rund 200 britischen Unternehmen wie Vodafone Chart zeigen, Jaguar Land Rover und Shell Chart zeigen mit einem offenen Brief in der "Times" vor dem sogenannten Brexit. Bei einer Umfrage der Bertelsmann-Stiftung sprachen sich vier von fünf Unternehmenschefs für einen Verbleib in der EU aus. Andernfalls, so die Brexit-Gegner, drohten Jobverluste und Unternehmensverlagerungen. [...] Handel: Schwellenländer statt EU
City  of  London  neoliberalism  dogma  ideology  neoliberal  neoconservatism  neoconservatives  trickle-down  economics  austerity  corporate  tax  rate  self-regulation  regulation  banking  crisis  bank  bailout  GFC  Brexit  UK  Career  Politicians  trade  agreement  BRIC  emerging  middle  class  emerging  market  Frontier  Markets  TTIP  TPP  AIIB  PR  misrepresentation  Positioning  spin  doctor  regulators 
february 2016 by asterisk2a
IEA warns consumers of spike in oil prices - BBC News
[ Saudie's playing game of who has the deepest pockets against USA and Canada ] The International Energy Agency (IEA) is warning consumers not to let cheap oil lull them into a false sense of security amid forecasts of a price spike by 2021. In a report, the IEA said it expects prices to start recovering in 2017. But it forecasts that will be followed by a sharp jump in price as supply shrinks following under-investment by struggling producers.
OPEC  shale  gas  fracking  Saudi  Arabia  aggregate  demand  BRIC  China  credit  bubble  commodity  prices  secular  stagnation  Russia  Middle  East  Iran  Iraq  Oil  price  petrodollar  petrodollars  Petroleum  Industry  fossil  fuel  underinvestment 
february 2016 by asterisk2a
Beware the Minuses of Negative Interest Rates
Whether sub-zero interest rates actually work is open to debate, however. So says Richard Koo, the chief economist of the Nomura Research Institute. “In my view,” he writes, “the adoption of negative interest rates is an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results.” The failure of the BOJ and the ECB to meet their inflation and growth goals is shared by the Federal Reserve and the Bank of England. None of these central banks understand that their textbook solutions don’t fit the real economy, Koo asserts. [...] And on a more practical level, why corporations sit on record hoards of cash (taxes aside). [<< macro prudential policy ] //&! “When no one is borrowing money, monetary policy is largely useless.” [...] Keynes was right and (Milton) Freidman was wrong. - bit.ly/1Kl07Ri & There is no Confidence Fairy //&! fam.ag/1ogOOiM & bit.ly/1LpJL4W & bit.ly/1VgSjAB & bit.ly/214Icm3 & bit.ly/1Kl228n
secular  stagnation  emerging  middle  class  demographic  bubble  ageing  population  western  world  ZIRP  NIRP  QE  distortion  liquidity  trap  New  Normal  financial  repression  GFC  economic  history  Richard  Koo  consumer  debt  squeezed  middle  class  household  debt  credit  card  debt  car  loan  business  confidence  consumer  confidence  student  loan  debt  student  loan  Super  Cycle  debt  servitude  mortgage  market  asset  bubble  speculative  bubbles  hunt  for  yield  hot-money  equity  bubble  bond  bubble  property  bubble  credit  bubble  BRIC  China  student  debt  disposable  income  discretionary  spending  Frontier  Markets  emerging  market  UK  USA  Europe  Japan  Abenomics  Niall  Ferguson  Paul  Krugman  Joseph  Stiglitz  Gini  coefficient  inequality  income  inequality  income  distribution  income  mobility  wage  stagnation  income  growth  tax  evasion  tax  avoidance  Wall  Street  profit  maximisation  shareholder  value  underinvestment  austerity  productivity  output  gap  public  investment  productive  investment  infrastructure  investment  business  investment  STEM  R&D  competitiveness  Robert  Reich  balance  sheet  recession  deleveraging  debtoverhang  zombie  banks  zombie  corporations  zombie  consumer  macroprudential  policy  miltonfriedman  JohnMaynardKeynes  keynes  Keynesianism  Fiscal  Pact  policy  monetary  policy  Schuldenbremse  unconventional  monetary  policy  QT  Taper  money  supply  money  ve 
february 2016 by asterisk2a
Interview With Mohamed El-Erian: Masters in Business (Audio) by Bloomberg View
7:50 New Normal is secular stagnation and decades-long NIRP, ZIRP, QE distortion. structural, secular. no cyclical recovery. but long secular challenges; prolonged period of low growth. // also inequality! // currently policy makers subsidise debtors, subsidise creditors - financial repression. promote risk taking. // richard koo would not agree with el-erian's notion that gov balance sheets are same as household balance sheets. // 12:10 demographic issue! political. and economic elements in it of secular stagnation. [...] borrowing growth // rise of far-right! // corps sitting on cash // inequality! // bc of lived in artificial world of borrowed growth, created massive divergence. // min 15:30 richard koo would not agree that central banks are the only game in town. central banks have complained abt austerity gov. // min 20 - Feds intellectually inflexible. comfort zone. self-regulation & great moderation. // reflation didnt work bc no fixed fundamentals // perfect storm! lost trust.
New  Normal  financial  repression  NIRP  ZIRP  QE  economic  history  secular  stagnation  GFC  credit  bubble  book  western  world  emerging  middle  class  debtoverhang  Richard  Koo  deleveraging  debt  servitude  Super  Cycle  household  debt  consumer  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  student  debt  KennethRogoff  carmenreinhart  sovereign  debt  crisis  austerity  Paul  Krugman  Gini  coefficient  inequality  Joseph  Stiglitz  distortion  monetary  policy  fiscal  policy  monetary  transmission  mechanism  liquidity  trap  unconventional  monetary  policy  monetary  theory  monetary  system  retirement  demographic  bubble  ageing  population  far-right  Rechtsextremismus  Rechtsruck  zombie  consumer  zombie  corporations  zombie  banks  Pact  Schuldenbremse  tax  avoidance  tax  evasion  inflation  targeting  inflation  expectation  nominal  GDP  targeting  GDP  reflate  reflation  trust  trustagent  distrust  business  confidence  consumer  confidence  public  sentiment  public  perception  bank  bailout  Japan  Abenomics  AIIB  IMF  China  BRIC  self-regulation  Great  Moderation 
february 2016 by asterisk2a
Inside How Mutual Funds Value Private Tech — The Information
The sudden and sizable valuation markdowns of high-flying private companies like Snapchat, Dropbox and Zenefits by mutual fund investors has been one of the biggest stories in tech, sowing fears that the market is deflating. They’ve also caused consternation among founders, who have had to defend their companies’ earlier valuations to employees.
downround  growth  round  Mutual  Fund  SPV  Uber  Zenefits  Snapchat  Silicon  Valley  DropBox  hunt  for  yield  ZIRP  NIRP  QE  speculative  bubbles  risk  capital  liquidation  preferences  termsheet  asset  allocation  distortion  Lyft  equity  bubble  reflate  reflation  financial  repression  New  Normal  secular  stagnation  hot-money  BRIC  emerging  market  Frontier  Markets 
february 2016 by asterisk2a
The "Tourist" Investors Flooding Silicon Valley With Money Will Go Home One Day - BuzzFeed News
The tourist analogy comes from Mohamed El-Erian, chief economic advisor at the German financial company Allianz and former CEO of mutual fund giant Pimco. He fleshes out his theory of “tourist dollars” in his new book, The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse, describing what happens in emerging economies like Brazil and India when investors from the developed world respond to slow economies at home by seeking more profitable climates abroad. Ranjan Roy, a former emerging-market currencies trader who now runs a tech startup, wrote a Medium post this week connecting El-Erian’s “tourist” theory to the mutual fund investors that have flooded Silicon Valley with cash in recent years. The post was pretty convincing, so we decided to see if El-Erian agreed. He does. And he worries about what those tourist dollars are doing to the locals. [...] they don’t re-up [ like VC's and real Angels would do ] [...] push to stretch for return.
hunt  for  yield  distortion  speculative  bubbles  asset  allocation  Silicon  Valley  Party  Round  Angel  Investor  Seed  Round  ZIRP  NIRP  QE  hot-money  Mutual  Fund  growth  risk  capital  Venture  Frontier  Markets  emerging  market  credit  bubble  China  BRIC  2015  2016  2014  Unicorn  reflate  reflation  economic  history  equity  bubble  bond  bubble  property  bubble  asset  bubble  secular  stagnation  emerging  middle  class  India  financial  repression  behavioral  finance  behavioral  economics  psychology  fiscal  policy  monetary  policy  austerity  Richard  Koo 
february 2016 by asterisk2a
Norway seeks to diversify its economy as oil earnings plunge - BBC News
As oil prices have collapsed, it's become clear that Norway has caught what used to be called the Dutch disease - an overreliance on one industry, in this case the oil and gas sector. With its upmarket waterfront restaurants and the Barcode office blocks, the Sorenga dockside development serves as a poignant reminder of how prosperous Norway had become while the going was still good. [...] Unbalanced economy [...] "The oil and gas industry became too strong in our economy, especially during the last four or five years, reflects Prime Minister Erna Solberg. "Most of the growth came from that sector, and our strong currency left some of our traditional industries behind." [...] Household debts have reached more than 200% of annual disposable income [ Dutch Disease; UK & USA = domestic consumption, Germany = exports and its name, London = Finance and wealthy expats/non-doms, Switzerland = exports and its name , China = export, Brazil = commodity export ]
Norway  Aberdeen  Oil  price  commodity  prices  secular  stagnation  2016  2015  credit  bubble  China  BRIC  economic  history  reflate  reflation  QE  ZIRP  NIRP  aggregate  demand  Dutch  Disease  distortion  financial  repression  macroeconomics  macroeconomic  policy  macroprudential  policy  microeconomic  policy  unemployment  OPEC 
february 2016 by asterisk2a
What's holding back the world economy? | Business | The Guardian
[ continued financialisation of economy / faustian pact ] QE and low interest rates have disproportionately created wealth in the financial sector and inflated asset bubbles. It has done little for the real economy. The rules of the market need to be rewritten [...] dominant policies during the post-crisis period – fiscal retrenchment and quantitative easing (QE) by major central banks – have offered little support to stimulate household consumption, investment, and growth. On the contrary, they have tended to make matters worse. In the US, quantitative easing did not boost consumption and investment partly because most of the additional liquidity returned to central banks’ coffers in the form of excess reserves. [...] private investment did not grow [...] [ QE supported only financial sector and zombie banks and corporations, little to nothing went into the real economy for investment in western world ] [ which leads us to say we are still in a banking crisis per se ]
Joseph  Stiglitz  secular  stagnation  reflate  reflation  austerity  QE  ZIRP  NIRP  TARP  TLTRO  LTRO  zombie  banks  zombie  corporations  zombie  consumer  Richard  Koo  consumer  debt  household  debt  car  loan  credit  card  debt  Student  Bubble  loan  debt  disposable  income  discretionary  spending  squeezed  middle  class  Precariat  low  pay  low  income  wage  stagnation  income  growth  USA  UK  Europe  western  world  mortgage  market  NPL  debt  servitude  underinvestment  productive  investment  infrastructure  investment  economic  history  policy  folly  policy  error  corporate  welfare  tax  evasion  tax  avoidance  Gini  coefficient  income  distribution  social  mobility  income  mobility  poverty  trap  inequality  recovery  job  creation  Service  Sector  Jobs  distortion  financial  repression  speculative  bubbles  hunt  for  yield  asset  equity  VIX  volatility  Help  to  Buy  Scheme  monetary  policy  liquidity  trap  fiscal  policy  debtoverhang  deleveraging  balance  sheet  recession  consumer  confidence  business  confidence  business  investment  productivity  output  gap  aggregate  demand  income  redistribution  repo  monetary  transmission  mechanism  monetary  system  financial  market  GFC  banking  crisis  retail  banking  investment  banking  hot-money  Frontier  Markets  emerging  market  BRIC  rent-seeking  rentier  carbon  tax  economic  damage 
february 2016 by asterisk2a
UK trade deficit widens further as exports suffer | Business | The Guardian
Nevertheless, the UK’s goods trade gap with the rest of the world widened by £1.9bn to a record high of £125bn in 2015. Howard Archer, chief UK economist at IHS Global Insight, said: “UK exports have clearly struggled in recent months, as they have been hampered by sterling’s overall strength in 2015, particularly against the euro, and moderate global demand. [...] Recent declines in the value of sterling are expected to support exports sales, though the deteriorating global situation could mitigate against an improved exchange rate. [...] “Nonetheless, any progress in reducing the trade deficit is likely to be extremely slow in the near term, leaving the recovery reliant on domestic demand.” [...] [ you can lower your corp tax, but if your country is shitty in business environment ie infrastructure and employee qualifications and immigration ... nobody wants to do business ]
UK  trade  deficit  current  account  deficit  budget  deficit  tax  reciepts  2015  2016  recovery  secular  stagnation  underinvestment  business  investment  austerity  economic  history  global  economy  emerging  market  Frontier  Markets  BRIC  foreign  direct  investment  productive  investment  infrastructure  investment  Richard  Koo  consumer  debt  household  debt  credit  card  debt  car  loan  Student  Bubble  debt  servitude  discretionary  spending  government  spending  disposable  income  generation  rent  ZIRP  NIRP  QE  liquidity  trap  zombie  corporations  zombie  consumer  distortion  financial  repression  speculative  bubbles  hunt  for  yield  fiscal  policy  monetary  policy  BOE  property  Housing  Crisis  George  Osborne  competitiveness  productivity  output  gap  job  creation  Service  Sector  Jobs  corporate  tax  rate  corporate  welfare  subsidies  subsidizing  immigration  migration  Super  Cycle 
february 2016 by asterisk2a
'Panic situation': Asian stocks tumble amid fears of new global recession | Business | The Guardian
central banks have few avenues left to explore to encourage investment and boost growth. Talk of an impending recession in the US, however, is creating speculation among investors that the federal reserve will put on hold its attempts to normalise rates. “The ‘fear factor’ in markets has morphed from being about an emerging market hard-landing and collapsing oil prices to being about the extent of the slowdown in the developed world and the ability of central banks to reflate asset values yet again,” said analysts at Citi in a note. //&! Yield on Japan's 10-year bonds falls below zero - bit.ly/1Leu3JC - Germany, France and the Netherlands are among the countries to see their bonds soar in value, though Switzerland (not in the G7) is the only other country to see demand outstrip supply to such an extent that the yield has dropped below zero. Bonds worth about $7tn (£4.8tn) now have a negative yield rate. //&! BOE Taper expectations go out the window till 2020 - bit.ly/1SdxUhN
global  economy  2016  secular  stagnation  austerity  monetary  policy  fiscal  policy  Taper  ZIRP  QE  NIRP  liquidity  trap  western  world  credit  bubble  China  BRIC  Oil  price  emerging  middle  class  squeezed  middle  class  household  debt  consumer  debt  debtoverhang  deleveraging  balance  sheet  recession  Richard  Koo  USA  UK  Europe  economic  history  credit  card  debt  car  loan  debt  servitude  disposable  income  discretionary  spending  credit  reflate  reflation  VIX  volatility  speculative  bubbles  property  bubble  distortion  asset  allocation  equity  bubble  hunt  for  yield  IMF  OECD  Frontier  Markets  emerging  market  bond  bubble  Fed  BOE  ECB  Abenomics  BOJ 
february 2016 by asterisk2a
Nasty Gal Layoffs Hit 10 Percent of Staff | Re/code
Online fashion retailer Nasty Gal has laid off 10 percent of its staff, as the purveyor of edgy women’s clothing cuts costs amid an uncertain financing and retail environment. CEO Sheree Waterson told the company in an email that the cuts were necessary as the “market in which we operate is changing, both in retail broadly and apparel specifically.” Nineteen employees across several departments were let go. Nasty Gal also laid off some staff in 2014. The layoffs underscore the difficulty mature e-commerce startups can encounter as they transition from being a hot new brand to the long slog of building a more traditional retail business. In short, building a retail brand is really hard and technology can only afford you so many shortcuts along the way. Online beauty brand BirchBox announced layoffs of 15 percent of its staff last week, as startups in e-commerce tighten belts as investors become more wary of unprofitable growth.
Nasty  Gal  Branding  Brand  e-commerce  Retail  pure  play  Amazon  brick  and  mortar  business  squeezed  middle  class  discretionary  spending  disposable  income  USA  consumption  consumer  debt  household  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  Bubble  low  pay  low  income  Precariat  precarious  work  eBay  zombie  consumer  Primark  status  symbol  status  anxiety  consumerist  consumerism  secular  stagnation  debt  servitude  retirement  pension  scheme  401k  fiscal  policy  austerity  monetary  policy  reflate  reflation  economic  history  recovery  job  creation  Service  Sector  Jobs  emerging  middle  class  western  world  credit  BRIC  emerging  market  Frontier  Markets 
february 2016 by asterisk2a
Ford to cut jobs to save $200m in Europe - BBC News
US car giant Ford has announced plans to cut jobs and save $200m (£138m) a year in Europe. The carmaker said it was launching a voluntary redundancy programme and improving manufacturing efficiencies. It also said it would focus on its most profitable models, such as sports utility vehicles (SUVs). Ford Europe returned to profit for the first time in four years in 2015, as the parent group recorded record profits of $10.8bn. This represented a "good first step", said Ford Europe executive vice-president Jim Farley. //&! Volkswagen has said it will cut investment by €1bn ($1.1bn; £750m) a year as a result of the diesel emissions scandal. - bbc.in/1NGGQu0 //&! Ford hat bereits in den vergangenen Jahren die Kosten in Europa gesenkt. Insgesamt drei Werke wurden geschlossen, davon zwei in Großbritannien und eines in Belgien. Auch in Deutschland hatte sich der Konzern mit den Gewerkschaften auf Einsparungen geeinigt. - bit.ly/1KZpz9C
automotive  autoindustry  secular  stagnation  emerging  middle  class  squeezed  middle  class  economic  history  discretionary  spending  disposable  income  Abgas-Affäre  VW  lobbyist  lobby  Lobbying  carbon  tax  COP21  public  transportation  transportation  car  loan  credit  card  credit  card  debt  household  debt  consumer  debt  western  world  emerging  market  BRIC 
february 2016 by asterisk2a
Amid market turmoil and confusion, there are four key economic trends shaping society
The UK economy currently gets nowhere near its target of 2%. Inflation would decrease the value of current debts, making them less of a burden. In a world without much inflation, it is hard to get wages up. The worse case scenario is that debt costs increase, as prices and wages stagnate. [ ignoring debt and income growth - stagnation at their peril - youtu.be/KIaXVntqlUE - gov is no household budget, Steve Keen + Richard Koo ] [...] And in this age of austerity, these factors will work against governments seeking to reduce the welfare bill. Recent data shows that, in UK cities, growing numbers of low paid jobs have led to rising claims for welfare such as housing benefits, defeating the government’s aims to reduce spending.
economic  history  secular  stagnation  inflation  targeting  nominal  GDP  targeting  fiscal  policy  monetary  policy  inflation  wage  growth  wage  stagnation  squeezed  middle  class  job  creation  Service  Sector  Jobs  low  pay  low  income  minimum  wage  UK  Mark  Carney  austerity  tax  credit  housing  benefit  working  tax  credit  debt  servitude  Super  Cycle  Richard  Koo  liquidity  trap  monetary  transmission  mechanism  monetary  stimulus  debtoverhang  balance  sheet  recession  deleveraging  household  debt  consumer  debt  credit  card  debt  western  world  GDP  wage  inflation  income  growth  disposable  income  discretionary  spending  income  distribution  Gini  coefficient  Super  Rich  1%  inequality  income  inequality  income  redistribution  tax  evasion  tax  avoidance  monetary  system  monetary  theory  student  debt  student  loan  debt  student  loan  Bubble  debt  monetisation  debt  monetization  zombie  banks  monetary  velocity  Niall  Ferguson  NPL  junk  bond  zombie  corporations  zombie  consumer  ZIRP  NIRP  QE  Taper  China  credit  BRIC  output  gap  productivity  industrial  policy  public  investment  productive  investment  business  investment  infrastructure  investment  property  financial  repression  speculative  bubbles  asset  allocation  Generationengerechtigkeit  fairness  money  supply  faultlines  global  imbalances  recovery  working  poor  Precariat 
february 2016 by asterisk2a
Prosperity brings new diseases to Brazil - BBC News
[ most successful export of USA/western world ] Is Brazil destined to be the fattest country in the world? Better healthcare means things like child mortality and deaths from many infectious diseases have fallen drastically. But prosperity has brought with it new diseases - diabetes and heart disease are on the rise, as Ben Tavener reports from Sao Paulo.
heart  disease  western  lifestyle  obesity  epidemic  obesity  childhood  obesity  pre-diabetic  diabetes  metabolic  syndrome  chronic  diseases  high  blood  pressure  cancer  diet-related  disease  public  health  policy  public  health  emerging  middle  class  aspirational  aspirational  product  WHO  western  diet  sedentary  lifestyle  Brazil  BRIC  chronic  low-grade  inflammation  Arthritis 
january 2016 by asterisk2a
Carney: No need for interest rate rises now - BBC News
Carney said that collapsing oil prices and an "unforgiving" global environment meant that tighter monetary policy was not yet necessary. [...] He pointed out that the Fed's rate rise had only brought the US interest rate to the same "lofty level" as the Bank of England's. The Governor said that three factors would be the strongest guide to when interest rates might rise. First, that economic growth in the UK would be higher than the average trend. He said that growth at an average quarterly rate of 0.5% in 2015 had "disappointed". Second, that wage growth strengthens and productivity improves. And, third, that core inflation starts to approach the target rate of 2%. //&! Rate rise pause till early 2017? - bbc.in/1T1Qrge - [ global risks are building, global imbalances, faultlines. ] There's a frying pan - the global growth slowdown - and a fire - high levels of indebtedness - out there. &! bbc.in/1S5N7ks
Fed  BOE  2016  Taper  UK  USA  monetary  policy  Mark  Carney  Fed  mandate  productivity  output  gap  inflation  expectation  inflation  targeting  nominal  GDP  targeting  deflationary  deflation  Oil  price  commodity  prices  wage  inflation  GDP  secular  stagnation  economic  history  austerity  fiscal  policy  property  bubble  consumer  debt  household  debt  credit  card  debt  mortgage  market  ZIRP  NIRP  QE  private  debt  corporate  debt  Europe  ECB  China  credit  bubble  2015  global  economy  BRIC  OPEC  aggregate  demand  Richard  Koo  overcapacity  Supply  and  and  Supply  liquidity  trap  monetary  transmission  mechanism  monetary  stimulus  monetary  theory  unconventional  monetary  policy  debt  monetisation  debt  monetization  zombie  consumer  zombie  corporations  zombie  banks  debtoverhang  balance  sheet  recession  deleveraging  margin  trading  speculative  bubbles  equity  bubble  Super  Cycle  debt  servitude  leverage  George  Osborne  dogma  ideology  neoliberalism  neoliberal  faultlines  global  imbalances  distortion  emerging  middle  class  emerging  market  Frontier  Markets  sovereign  debt  crisis  unintended  consequences  unknown  unkown  QT  financial  repression  New  Normal 
january 2016 by asterisk2a
"How The Investment Grade Dominos Will Fall" - UBS Explains | Zero Hedge
According to Citigroup's Matt King, it is now officially too late to save junk debt, which has entered the final stage of the credit cycle, the one where defaults for high yield bonds rise with every passing month. [...] we estimate that nearly $1tn of speculative-grade credits are at risk of default over the next downturn, as the stock of low-quality credit has soared. [...] These developments are a negative headwind for investment-grade corporates in 2016.
creditrating  creditrisk  NPL  corporate  debt  ZIRP  NIRP  QE  distortion  speculative  bubbles  debt  monetisation  debt  monetization  leverage  junk  bond  sovereign  debt  crisis  PIGS  monetary  policy  emerging  market  Frontier  Markets  BRIC  economic  history  Taper  QT  M&A 
january 2016 by asterisk2a
Why are we looking on helplessly as markets crash all over the world? | Will Hutton | Opinion | The Guardian
[ so much debt in the system, a rise in interest can not be served as is ] The imminent collapse of the Chinese Ponzi-scheme economy shows that we need to bring control to the international economy. [...] There has always been a tension at the heart of capitalism. Although it is the best wealth-creating mechanism we’ve made, it can’t be left to its own devices. Its self-regulating properties, contrary to the efforts of generations of economists trying to prove otherwise, are weak. [...] Profits as a share of national income in Britain and the US touch all-time highs; wages touch an all-time low as the power of organised labour diminishes and the gig economy of short-term contracts takes hold. The excesses of the rich, digging underground basements to house swimming pools, cinemas and lavish gyms, sit alongside the travails of the new middle-class poor. These are no longer able to secure themselves decent pensions and their gig-economy children defer starting families ...
China  credit  bubble  speculative  bubbles  equity  bubble  BRIC  2015  2016  self-regulation  capitalism  crony  capitalism  Wall  Street  shareholder  value  profit  maximisation  Gig  Economy  Zero  Hour  Contract  squeezed  middle  class  secular  stagnation  western  world  aggregate  demand  consumer  debt  debtoverhang  Richard  Koo  economic  history  balance  sheet  recession  household  debt  credit  card  debt  car  loan  mortgage  market  working  poor  poverty  trap  Gini  coefficient  social  mobility  income  mobility  inequality  plutocracy  oligarchy  Super  Rich  1%  ZIRP  NIRP  QE  distortion  George  Osborne  dogma  ideology  David  Cameron  neoliberalism  neoliberal  globalisation  globalization  exploitation  borderless  flat  world  USA  UK  austerity  fiscal  policy  monetary  policy  liquidity  trap  debt  servitude  wage  stagnation  shared  economic  interest  NPL  shadow  banking  shadow  Career  Politicians  No  Representation  democracy  social  democracy  Generationengerechtigkeit 
january 2016 by asterisk2a
The city in love with cars even though its air is toxic - BBC News
Delhi is a city that adds 1,400 cars to its roads every day - and the minute the local government announced an emergency car rationing plan, the complaints and legal battles began. // economic damage - due to a rise in cancer and chronic ailments - reducing discretionary spending/disposable income - due to health care spending and being a carer for your sick relative.
air  pollution  public  health  policy  public  health  public  transportation  transportation  carbon  dioxide  carbon  tax  carbonfootprint  carbon  trading  scheme  carbonemission  BRIC  Frontier  Markets  emerging  middle  class  Asia  China  India  economic  damage  Beijing 
january 2016 by asterisk2a
"Markets Crash When They're Oversold" | Zero Hedge
Technology Destroying Jobs + While the big driver of the decline in economic growth since the 1980’s has been a structural change from a manufacturing based economy (high multiplier effect) to a service based one (low multiplier effect), it has been exacerbated by the increase in household debt to offset the reduction in wage growth to maintain the standard of living. This is shown clearly in the chart below. [...] In fact, each job created in energy-related areas has had a “ripple effect” of creating 2.8 jobs elsewhere in the economy from piping to coatings, trucking and transportation, restaurants and retail. Simply put, lower oil and gasoline prices may have a bigger detraction on the economy than the “savings” provided to consumers.
Oil  price  shale  gas  fracking  job  creation  USA  2016  Service  Sector  Jobs  Manufacturing  globalization  globalisation  neoliberalism  neoliberal  borderless  flat  world  economic  history  UK  low  income  wage  stagnation  wage  growth  income  growth  disposable  income  discretionary  spending  consumer  debt  squeezed  middle  class  household  debt  property  bubble  working  poor  precarious  work  Precariat  job  security  job  market  jobcreation  job-creation  recovery  GFC  dogma  ideology  austerity  tax  evasion  tax  avoidance  corporate  welfare  subsidies  subsidizing  lobbyist  lobby  Lobbying  trade  agreement  TPP  TTIP  NAFTA  CETA  European  Union  sovereign  debt  crisis  credit  bubble  China  BRIC  structural  imbalance  global  imbalances  faultlines  2015  presidency  barackobama  ZIRP  NIRP  QE  George  Osborne  private  debt  debtoverhang  debt  servitude  student  loan  debt  student  loan  student  debt  credit  card  debt  car  loan  liquidity  trap  Richard  Koo  balance  sheet  recession  deleveraging 
january 2016 by asterisk2a
Börse: Warum Schwellenländer für die Kurskrise sorgen - Kolumne - SPIEGEL ONLINE
Chronisch überschüssige Leistungsbilanz [ & Over capacity for less/stagnant demand ... + biggest credit bubble (china) popped as the west can't afford more. QE and ZIRP has run it's way! ] [...] Der Grund, warum der deutsche Aktienindex weitaus mehr betroffen ist als andere europäische Indizes, liegt allein an der strukturellen Abhängigkeit der deutschen Industrie von Blasen in anderen Ländern. Anstatt auf bessere Stimmung zu hoffen, sind Anleger gut beraten, sich über den weiteren Verlauf der Schwellenländerkrise Gedanken zu machen. [...] [ Fed taper makes things more difficult to serve debt ] [...] Langfristig sind es die Gewinne und nicht die Zinsen, die die Aktienpreise treiben. //&! China (Asia/BRIC/Frontier Market) Corporate Bond Yields up - bit.ly/1Sme7fV & NPL probably too. //&! If property is biggest item of household wealth in a property bubble (UK, China, ... USA) - bit.ly/1Zpiy8M
trade  deficit  BRIC  credit  bubble  western  world  secular  stagnation  macroeconomic  policy  China  Japan  Germany  UK  USA  Brazil  commodity  prices  Oil  price  NPL  shadow  banking  shadow  economy  banking  crisis  ZIRP  NIRP  QE  QT  speculative  bubbles  property  bubble  mortgage  market  Fed  BOE  ECB  European  Union  sovereign  debt  crisis  household  debt  consumer  debt  credit  card  debt  car  loan  private  debt  corporate  debt  tax  evasion  tax  avoidance  austerity  corporate  welfare  subsidies  subsidizing  Russia  OPEC  aggregate  demand  liquidity  trap  Richard  Koo  Richardkoo  debtoverhang  balance  sheet  recession  debt  servitude  student  loan  debt  Super  Cycle  debt  bubble  student  debt  debt  monetisation  debt  monetization  student  loan  discretionary  spending  disposable  income  squeezed  middle  class  precarious  work  Precariat  working  poor  neoliberalism  neoliberal  globalization  globalisation  borderless  flat  world  trade  agreement  Hegemony  TPP  TTIP  TISA  CETA  NAFTA  Africa  South  Africa  global  trade  trade  balance  current  account  deficit  Frontier  Markets  faultlines  structural  imbalance  global  imbalances  Taper  reflate  reflation  equity  bubble  Abenomics  economic  history  India  irrational  exuberance  Robert  Shiller  inequality  Gini  coefficient  deflationary 
january 2016 by asterisk2a
Perfect Storm!? | Zero Hedge
And with debt now $57 trillion higher worldwide than in 2008, it’s not at all clear that another borrowing binge will be greeted with enthusiasm by the world’s bond markets, currency traders or entrepreneurs. [ market correction, no liquidity, stuck with position, this may be no correction, but correction back to fundamental grounds ] [...] And one thought will appear in all those minds: Why didn’t I load up on gold when I had the chance?
2015  2016  China  consumer  debt  Super  Cycle  household  debt  mortgage  market  property  bubble  ZIRP  NIRP  QE  debt  monetisation  debt  monetization  fiscal  policy  austerity  monetary  policy  credit  card  debt  car  loan  credit  card  debt  servitude  corporate  debt  sovereign  debt  crisis  debt  bubble  debtoverhang  balance  sheet  recession  economic  history  Taper  Fed  BOE  ECB  PBOC  output  gap  globalisation  globalization  borderless  secular  stagnation  western  world  OPEC  Oil  price  commodity  prices  flat  world  BRIC  leverage 
january 2016 by asterisk2a
Asean's quest to boost free trade - BBC News
bbc.in/1PVZmxC - Asean pushes for regional economic integration &! bbc.in/1Xa9yZt //&! /bit.ly/1PKMhJ7 &! bit.ly/1IbQi1u &! South China Sea is still Asean's Achilles heel - bit.ly/1jgQEgx
ASEAN  free  trade  trade  agreement  global  trade  TPP  TTIP  European  Union  Union  NAFTA  CETA  China  India  Japan  SouthChinaSea  Hegemony  USA  Russia  BRIC  foreign  affairs  foreign  policy  Aid  foreign  relations 
november 2015 by asterisk2a
Blackrock-Vize Hildebrand kritisiert europäische Behörden - SPIEGEL ONLINE
Hildebrand: Nein, dafür sehe ich keine Anzeichen. Aber was mich schon besorgt, ist das Muster, dass frappantes Fehlverhalten europäischer Firmen immer wieder von amerikanischen Behörden aufgedeckt wird. Das scheint mir das wahre Problem zu sein. Ich denke da nicht nur an VW, sondern auch an die Banken oder an die Fifa. [...] Die Amerikaner dagegen sind das Problem schon 2009 angegangen, und die Banken sind schnell wieder gesundet. In Europa hat man es unter den Teppich gekehrt. [...] Europa hat zwei Probleme, und ein wesentliches davon ist ein Nachfrageproblem: Die Wirtschaft ist nicht ausgelastet, auch die Arbeitslosigkeit ist nach wie vor zu hoch. Und die Inflation liegt nahe null. [...] Europa hat auch ein Strukturproblem. Arbeits- und Produktmärkte sind überreguliert. [ Re Credit Bubble ] Niemand weiß genau, was geschieht, wenn diese Politik einmal umgekehrt wird.
VW  bank  bailout  FIFA  corporate  scandal  Volkswagen  sovereign  debt  crisis  too  big  to  bail  Grexit  European  Union  secular  stagnation  self-regulation  regulation  regulators  deregulation  accountability  white-collar  crime  banking  investment  banking  retail  banking  recovery  MarioDraghi  ECB  NIRP  ZIRP  TLTRO  LTRO  QE  GFC  economic  history  debtoverhang  Richard  Koo  fiscal  monetary  Brussels  lost  decade  lostgeneration  lost  generation  Generationengerechtigkeit  austerity  Pact  Schuldenbremse  underinvestment  productive  investment  ageing  population  demographic  bubble  squeezed  middle  class  emerging  middle  class  discretionary  spending  Sozialer  Abstieg  income  distribution  disposable  income  Brexit  credit  bubble  BRIC  emerging  market  Developing  World  western  Niall  Ferguson 
november 2015 by asterisk2a
Record oil glut stands at 3bn barrels - BBC News
Although lower oil prices will lead to a decline in US production next year, the IEA said it would take months to clear the glut. "This massive cushion has inflated even as the global oil market adjusts to $50 per barrel. Demand growth has risen to a five-year high of nearly two million barrels per day," the agency said. "Gains in demand have been outpaced by vigorous production from OPEC and resilient non-OPEC supply." Growth in global demand for oil is expected to fall in 2016 as the allure of lower prices fades, the IEA added. //&! bbc.in/1HH3VL1 - So as China goes through what's being called the "new normal", it's likely that commodity producers are going to have to accept the same fate for themselves too.
Oil  price  OPEC  secular  stagnation  recovery  credit  bubble  reflate  reflation  ZIRP  NIRP  QE  BRIC  Brazil  China  GFC  economic  history 
november 2015 by asterisk2a
Facebook’s Zuckerberg on Internet.org: It’s Our ‘Moral Responsibility’ | Re/code
[ next billion customers are not in the western world, existing markets ] “Within about a month, about half of the people who have tried out Free Basics … become full paying customers of the whole Internet.” Put another way: Facebook’s Internet.org service is driving business for its operator partners. Facebook can’t bring Internet to everyone without operator help. It’s not surprising then that Zuckerberg wants to highlight how they’re benefiting, too.
Facebook  Net  Neutrality  emerging  middle  class  BRIC  emerging  market  Developing  World  WhatsApp  Mark  Zuckerberg 
october 2015 by asterisk2a
Global Capitalism: September 2015 Monthly Update - YouTube
Private Education (Charter Schools) that get public money, without the public being involved in decision-making how to spend that public money ... were outlawed/illegal, by Seattle Judges 6-2. //&! Tax exception of universities. Yale (4th richest uni of USA with 20bn in endowments) is being subsidized by people of the 7th poorest state. no property tax (largest land owner & employer in New Haven (Connecticut)). Public Services (Fire, Police, Hospitals) & Infrastructure. //&! min 41 Greg Mankiw: carbon tax would discriminate (burden too much) the middle class & poor with no wage growth last 30 yrs in disposable income vs corporates, well off, Super Rich, 1%. Rebuttal: tax more progressively those who can afford it. The crux of a carbon tax & tobin tax, setting it nationally, corporate lobby that it "will" be anti-competitive. Destroy Jobs. // 47:35 Science & Money. 1:09:20 Hegemony 1:22:20 public transport, US dogma; THE CAR! Committed 2 Private Free Enterprise. << Ideology. LA traffic
USA  income  distribution  income  redistribution  tax  code  lobbyist  lobby  Lobbying  inequality  Gini  coefficient  capital  gains  tax  capital  gains  tax  avoidance  tax  evasion  morality  taxpayer  income  tax  budget  deficit  neoliberalism  neoliberal  Public  Services  fairness  society  Gesellschaft  social  tension  social  cohesion  Super  Rich  1%  Wertegesellschaft  democracy  minority  majority  carbon  tax  carbon  trading  scheme  carbonemission  carbonfootprint  emissions  VAT  tax  progressive  coldprogression  kalte  Progression  income  inequality  American  Dream  income  mobility  social  mobility  tobin-tax  tobin  tax  conglomerate  heavy  industry  competitive  competitiveness  corporate  tax  rate  G  Zero  climate  change  global  warming  Policy  Makers  Generationengerechtigkeit  austerity  Monsanto  Monsanto  Protection  Act  food  industry  Hegemony  China  creditor  debtor  AIIB  TTIP  TPP  NAFTA  CETA  trade  agreement  self-regulation  regulation  regulators  oversight  accountability  ideology  dogma  free  market  transportation  transportation  underinvestment  infrastructure  investment  UK  TISA  BRIC  trickle-down  economics  economic  history  academia  academics  macroprudential  macroeconomic  microeconomic  commuting  productivity  output 
october 2015 by asterisk2a
China and the U.S. Are Long-term Enemies - YouTube
//&! speculations that state visit and foreign investment push in UK could create rift between transatlantic relations between USA-UK. UK and Germany after all are part of AIIB. USA not. BRIC are not part of TTIP and TPP. // [A week after Osborne's visit to China with business entourage] China's President Xi Jinping has said he believes his visit will lift UK-China relations to a "new height". - bbc.in/1PwbbvB
Hegemony  China  Russia  NATO  European  Union  USA  G  Zero  SouthChinaSea  Japan  AIIB  TTIP  TPP  TISA  NAFTA  CETA  foreign  affairs  foreign  policy  foreign  relations  cyber  war  corporate  espionage  industrial  espionage  cyber  espionage  Africa  geopolitics  BRIC  global  trade  UK  Germany  David  Cameron  George  Osborne 
october 2015 by asterisk2a
What's going on in UK manufacturing? - BBC News
Manufacturing abt 10% of UK output. The rest of the production industries: mining, quarrying, gas, electricity, water and sewage account for another 5%. The service sector accounts for 79%, with construction making up the final 6%. In the last decade, manufacturing grew gradually from 2005 to 2008, at which point it took a dive in the financial crisis in common with the rest of the economy. It recovered from 2010 until the start of 2012 and has been pretty volatile since then. The sector is still below its pre-crisis peaks, unlike the service sector, which is well above its pre-crisis level. [...] the sector had been "stunned by a triple combination of a sharp slowdown in consumer spending, weak business investment and stagnating export order inflows". But most of the big headlines have been about one sector: steel [ energy price not competitive & bust of commodity prices blown up by ZIRP, NIRP & QE ] [ why not lower energy prices for all!?] & bit.ly/1hPrPrn &! bbc.in/1jRMjRF
UK  industrial  policy  Smart  Grid  Revolution  2.0  STEM  Software  Is  Eating  The  World  energy  price  energy  policy  3D  printing  Robotics  automation  Heavy  Industry  regulation  carbon  tax  barriers  to  entry  cost  of  entry  Workers  Union  BRIC  China  competitive  competitiveness  knowledge  economy  skills  gap  AIIB  competitive  advantage  Mobile  Creatives  Mobile  Creative  George  Osborne  David  Cameron  Tories  Conservative  Party  neoliberalism  neoliberal  renewable  energy  R&D  Research  trickle-down  economics  Super  Rich  1%  corporate  welfare  tax  evasion  tax  avoidance  foreign  investment  commodity  prices  carbon  trading  scheme  carbonfootprint  carbonemission  climate  change  global  warming  lobbyist  lobby  Lobbying  green  energy  solar  energy  wind  energy  European  Union  national  interest  protectionism 
october 2015 by asterisk2a
Prospect of TTIP already undermining EU food standards, say campaigners | Business | The Guardian
Opponents of Transatlantic Trade and Investment Partnership say EU negotiator has admitted to approving entry of banned goods [...] EU negotiators will resume controversial trade talks with the US on Monday amid claims that multinational companies have jumped the gun in advance of any agreement to import goods that are currently banned – including genetically modified crops and chemically washed beef – into European markets. A campaign group says that a report in a US journal concerning the Transatlantic Trade and Investment Partnership (TTIP) talks show that Europe is already capitulating to huge pressure from the US to allow imports of previously banned goods before an agreement is reached. [...] [ as always its about] lower trade barriers and boost growth. [ Trade Deals like TTIP & TPP are better for US economically than a military invasion. who is excluded? BRIC. Who didnt want to join AIIB? USA. But who did? UK & Germany. This is about economic & political power/reach/influence]
TTIP  lobbyist  lobby  Lobbying  food  safety  Consumer  Protection  Wall  Street  conglomerate  trade  agreement  free  trade  TPP  NAFTA  CETA  European  Union  self-regulation  regulation  deregulation  regulators  profit  maximisation  shareholder  value  shared  economic  interest  Career  Politicians  Policy  Makers  democracy  No  Representation  neoliberalism  neoliberal  vested  interest  interest  groups  BRIC  World  Bank  AIIB  exploitation  sustainability  sustainable  crony  capitalism  capitalism  tax  evasion  tax  avoidance  free  market  neoconservatism  neoconservatives  G  Zero  presidency  barackobama  corporate  scandal  thinktank  GMO  crop  GMO  Privatisation  austerity  UK  David  Cameron  NHS  Gini  coefficient  inequality  poverty  Developing  World  Frontier  Markets  national  interest  corporate  state  corporate  media  manufactured  consent  Polarisation  PR  spin  doctor  reframing  framing  propaganda  populism  Fear  job  security  squeezed  middle  class  secular  stagnation  Niall  Ferguson  Super  Rich  1%  Sozialer  Abstieg  Soziale  Marktwirtschaft  globalization  globalisation  borderless  global  trade  flat  trickle-down  economics  wage  stagnation  income  growth  wage  growth  low  income  job  creation  revolving  door 
october 2015 by asterisk2a
TTIP bringt Rekordzahl von Gegnern auf die Straße
&! http://www.internet-law.de/2015/10/noch-ein-paar-allgemeine-gedanken-zu-ttip.html - TTIP hat aber noch eine ganz andere Dimension. Es verfestigt den Ansatz der westlichen Welt als Closed Shop. Damit wird die Kluft gegenüber Schwellen- und Entwicklungsländern verstärkt, die nicht nur bei diesem Abkommen außen vor bleiben. Das ist gerade angesichts der aktuellen „Flüchtlingskrise“ ein Ansatz den man überdenken sollte. Wer Fluchtursachen bekämpfen und die Situation in den Heimatländern der Flüchtlinge verbessern will, kann nicht gleichzeitig Abkommen wie TTIP befürworten. Vielmehr müssen wir den Blick auf eine gerechtere Weltordnung richten und genau dafür steht TTIP nicht.
TTIP  BRIC  TPP  China  Brazil  Russia  India  Frontier  Markets  Developing  World  free  trade  trade  agreement  global  trade  Union  European  Union  USA  Wall  Street  shareholder  value  profit  maximisation  crony  capitalism  Africa  lobbyist  lobby  Lobbying  NAFTA  CETA  exploitation  Palm  Oil  deforestation  sustainability  sustainable  property  rights  poverty  foreign  affairs  Aid  foreign  policy  foreign  relations  self-regulation  regulation  deregulation  regulators  democracy  Career  Politicians  No  Representation  corruption  bribery  Petroleum  Industry  Mining  Industry  environmental  damage  ecological  damage  Glencore  corporate  scandal  oil-spill  spill  soil  erosion  coastal  erosion  agriculture  industrial  agriculture  Rio  Tinto 
october 2015 by asterisk2a
Profit mean reversion and recession | Credit Writedowns
We are now in the seventh year of a cyclical recovery and bull market. Shares have tripled in that time frame. I would say this means we are much closer to the end of the business cycle than the beginning. Moreover, as Jeremy Grantham is quoted in the Business Insider piece, profits are mean-reverting and right now they are reverting from a phase that is “wildly optimistic” according to Warren Buffett. All of this is taking place against the backdrop of an economy in which wage growth is weak, household debt is still relatively high on a historic basis as a percentage of income and we have no policy room on the monetary side, with limited political appetite for policy on the fiscal side. To me, the pre-conditions for this profits recession speak to downside risk, ....
recovery  business  cycle  financial  cycle  private  debt  household  debt  consumer  debt  Student  Loan  Bubble  car  credit  card  debt  deleveraging  Richard  Koo  debtoverhang  austerity  fiscal  policy  economic  history  monetary  policy  job  creation  Service  Sector  Jobs  western  world  secular  stagnation  Niall  Ferguson  wage  stagnation  wage  growth  income  distribution  Gini  coefficient  inequality  trickle-down  economics  neoliberalism  neoliberal  Wall  Street  bank  bailout  budget  deficit  UK  USA  Schuldenbremse  Pact  sovereign  debt  crisis  Positioning  mainstreet.org  Germany  disposable  income  discretionary  spending  income  growth  low  income  crony  capitalism  reflate  reflation  Career  Politicians  constituency  fairness  Generationengerechtigkeit  Niedriglohnsektor  lobbyist  lobby  Lobbying  corporate  welfare  tax  evasion  tax  avoidance  income  inequality  social  mobility  social  contract  political  theory  income  mobility  Standard  American  Diet  equity  credit  ZIRP  NIRP  QE  BRIC  BOE  Fed  Fed  mandate  BOJ  PBOC  distortion  2015  ECB  Super  debt  servitude  zombie  consumer  zombie  banks  zombie  corporations  junk  bond  Taper  QT  irrational  exuberance  asset  allocation  capital  allocation  speculative  bubbles  commodity  prices  Oil  price  inflation  expe 
october 2015 by asterisk2a
TPP - The Death Sentence Clause - YouTube
TPP, TTIP, TISA excludes BRIC! this is a protectionism move from USA/Wall Street in new world that is emerging infront of our eyes that undermines USA/Wall Street monopoly, global power - financial, corporate, political, foreign affairs. Its shaping peoples everyday lifes. Much more potent than military intervention //&! https://youtu.be/ysm2Ksb7Yeg - TPP - Here’s What Happens Under SHAFTA --- race to the bottom. its not a free trade deal. its a managed deal written by and for multinational conglomerates. literally continuing the further the race to the bottom, competing with countries like Vietnam for jobs!
TPP  generic  pharmaceutical  industry  pharma  big  pharma  generic  medicine  copyright  Patent  patents  crony  capitalism  capitalism  Wall  Street  interest  groups  vested  interest  shareholder  value  profit  maximisation  TTIP  TISA  oversight  self-regulation  regulation  deregulation  regulators  transparency  democracy  Career  Politicians  monopoly  conglomerate  monopsony  Commanding  Heights  accountability  globalisation  globalization  presidency  barackobama  flat  world  G  Zero  AIIB  BRIC  Bank  IMF  OECD  emerging  market  Frontier  Markets  intellectual  property  lobbyist  lobby  Lobbying  revolving  door  political  theory  political  economy  social  contract  No  Representation  UK  USA  neoliberalism  neoliberal  liberal  economic  reform  global  trade  trade  agreement  free  trade  exploitation  neoconservatism  neoconservatives  China  Russia  India  Brazil  foreign  affairs  foreign  policy  foreign  relations  corruption  bribery 
october 2015 by asterisk2a
Robyn O'Brien - While everyone is getting worked up about "the...
White House: TPP is better than using "military intervention to protect private American commercial interests.' [...] What rights are protected by ISDS under U.S. agreements? The rules enforceable through ISDS provide Americans who decide to invest in foreign countries with basic protections from foreign government actions, including: - https://archive.is/8vuIX#selection-2189.205-2189.439 //&! TPP dispute system has been so heavily rigged by the US that it has never lost a case - https://blog.ffii.org/white-house-defends-isds/ - United States Senator Elizabeth Warren turned against investor-to-state dispute settlement (ISDS): “Why create these rigged, pseudo-courts at all?” [...] The International Centre for Settlement of Investment Disputes (ICSID) is the most used ISDS forum; investors can choose this forum.
presidency  barackobama  USA  World  Police  TPP  TTIP  TISA  BRIC  China  AIIB  European  Union  UK  Wall  Street  profit  maximisation  shareholder  value  accountability  oversight  deregulation  self-regulation  regulation  regulators  Career  Politicians  No  Representation  Nationalism  exploitation  conglomerate  World  Bank 
october 2015 by asterisk2a
[106] Europe's Refugees & American Elections w/ Chris Hedges - YouTube
climate change, war - neoliberalism (speak to the world with force), TTIP // flood Mexico w cheap corn = NAFTA // America expanding Market overseas with TPP TTIP, TISA (no physical occupation, like the British Empire was) = neoliberalism, domination of conglomerates in world trade, sucking out the oxygen of local economies below developed world level (developing and frontier market) ... BRIC are not in it for a reason! European Union already floods Africa with cheap chicken (frozen) - Ueberversorgung! through African trade deal with European Union. Destroyed local farmers, agriculture. // Who came up with TTIP, TPP, TISA??!! Who wrote first draft? // American have no taste for boots on the ground, so its Drone Warfare and secret for hire small specialised armies also gathering on the ground intelligence. // talks Trump and Sanders and Corbyn symptoms, reaction to the status quo. "The System is Gamed." DNC is controlled by the Clintons. Tories will play fear card.
refugee  crisis  Middle  East  migration  immigration  European  Union  demographic  bubble  ageing  population  neoliberalism  TTIP  conglomerate  Wall  Street  TPP  TISA  NAFTA  CETA  BRIC  China  AIIB  British  Empire  USA  America  neoconservatism  neoconservatives  shareholder  value  profit  maximisation  lobbyist  lobby  Lobbying  History  economic  Politics  vested  interest  interest  groups  Jeremy  Corbyn  donaldtrump  Donald  Trump  Bernie  Sanders  presidential  election  2016  UK  democracy 
october 2015 by asterisk2a
Holes in the walls of the Brics by FT Hard Currency
most are domestic problems. low hanging fruits have been picked in the last 20 years during the race with global economy. can not rely on west to export to. as west is in secular stagnation with debtoverhang of private secort/household debt/consumer debt. BRIC's have to build social safety net, welfare state, health care insurance, access to justice system, patent system protection, property rights, infrastructure, ... // investors have to pick local future champions (serving emerging middle class), can not bet just on ETF/national index if they want to outperform for the next 20 years.
BRIC  China  Russia  India  Brazil  reform  liberal  economic  reform  credit  bubble  global  economy  global  trade  fiscal  policy  monetary  policy  democracy  Makers  corruption  bribery  killer  apps  Niall  Ferguson  2015  QE  currency-war  currency  war  currency  debasement  AIIB  Frontier  Markets  emerging  middle  class  emerging  market  Developing  World  western  Politics 
october 2015 by asterisk2a
Bangalore's lake of toxic foam – in pictures | World news | The Guardian
[ we have only one planet, its all connected. ] IT professional Debasish Ghosh has been documenting toxic foam in the Indian city’s polluted lake system. The snowy froth, a cocktail of chemicals and sewage, has a pungent odour and causes irritation on contact with the skin
India  Fast  Fashion  Fashion  Industry  BRIC  ecological  disaster  environmental  disaster  zombie  consumer  China  climate  change  global  warming  deforestation  soil  erosion  pollution  water  pollution  heavy  metal  pollution  air  pollution 
october 2015 by asterisk2a
Nomi Prins-Federal Reserve Transition to Destruction - YouTube
via - http://schiffgold.com/interviews/former-wall-street-insider-some-form-of-bank-bail-ins-will-come-to-us-video/ ||&! QE and ZIRP bad policy, bank and market cuddeling. no mainstreet recovery! trickle-down failed. Private sector can not carry existing minimal momentum forward. policy has not helped people on the ground. // many bubbles created: junk bond/zombie corps, car loans, student loans, property, ... // transition to destruction, volatility is first sign. // market manipulation! // inflated financial system // rise in NPL! where how will they cover that? another bailout? or bail-in. taking depositors haircut. FDIC can't cover that all.
ZIRP  NIRP  book  QE  reflate  reflation  equity  bubble  credit  bubble  Taper  Richard  Koo  BRIC  China  2015  junk  bond  trickle-down  economics  Super  Rich  1%  property  bubble  household  debt  UK  USA  BOE  Fed  mandate  Fed  Janet  Yellen  Mark  Carney  MPC  monetary  policy  monetary  transmission  mechanism  excess  reserves  retail  banking  secular  stagnation  wage  stagnation  disposable  income  income  distribution  income  inequality  Gini  coefficient  inequality  squeezed  middle  class  job  creation  job  market  labour  market  Niedriglohnsektor  Service  Sector  Jobs  recovery  GFC  benbernanke  alangreenspan  dot.com  speculative  bubbles  bank  bailout  banking  crisis  leverage  margin  trading  Super  Cycle  debt  servitude  private  debt  debt  monetization  debt  monetisation  fiscal  policy  austerity  consumer  debt  credit  card  credit  card  debt  car  loan  debtoverhang  economic  history  zombie  banks  zombie  corporations  zombie  consumer  mainstreet.org  Wall  Street  profit  maximisation  shareholder  value  crony  capitalism  corporate  debt  bubbles  asset  bubble  correction  mortgage  market  libor  rigging  scandal  trust  Career  Politicians  neoliberalism  neoliberal  FX  reserves  hot-money  currency-war  currency  debasement  currency  war  balance  sheet  recession  Niall  Ferguson  financial  repression  distortion  Pr 
october 2015 by asterisk2a
IMF warns of new financial crisis if interest rates rise | Business | The Guardian
Fund says governments in emerging markets should prepare now for a new credit crunch because of a 10-year corporate borrowing binge [...] “Shocks to the corporate sector could quickly spill over to the financial sector and generate a vicious cycle as banks curtail lending. Decreased loan supply would then lower aggregate demand and collateral values, further reducing access to finance and thereby economic activity, and in turn, increasing losses to the financial sector,” the IMF warns. [...] “Emerging markets must prepare for the adverse domestic stability implications of global financial tightening,” the IMF says.
credit  bubble  2015  Taper  centralbanks  IMF  OECD  Frontier  Markets  Developing  World  Richard  Koo  Debt  Super  Cycle  BRIC  AIIB  World  Bank  recovery  global  economy  global  trade  globalization  globalisation  flat  borderless  currency-war  currency  debasement  currency  war  BOE  BOJ  Abenomics  ZIRP  NIRP  QE  unknown  unkown  unintended  consequences  FOMO  asset  allocation  capital  allocation  malinvestment  speculative  bubbles  property  bubble  China  Brazil  commodity  prices  Oil  price  OPEC  reflate  reflation  equity  bubble  emerging  middle  class  demographic  bubble  secular  stagnation  western  UK  USA  Europe  Germany  austerity  divergence  faultlines  Structural  Impediments  imbalance  Niall  Ferguson  Fed  mandate  monetary  policy  unconventional  monetary  policy  zombie  consumer  zombie  banks  bailout  banking  crisis  crisis  fiscal  policy  fiscal  stimulus  economic  history  trickle-down  economics  tax  avoidance  tax  evasion  inequality  Gini  coefficient  NPL  shadow  banking  zombie  corporations  junk  bond  creditrating  distortion  financial  financial  crisis  GFC 
september 2015 by asterisk2a
China pledges $2bn for developing world - BBC News
Chinese President Xi Jinping has pledged to establish a $2bn (£1.3bn) fund to assist developing countries and to significantly increase investment. Addressing a UN summit on development goals, Mr Xi said investment would reach $12bn over the next 15 years. He also said China would cancel debts to the world's least developed nations, including small island nations. Beijing, he added, would assist in 600 overseas projects in the next five years and offer more scholarships.
AIIB  China  BRIC  TPP  TTIP  TISA  USA  UN  infrastructure  investment  productive  investment  foreign  affairs  foreign  policy  foreign  relations  Asia  Aid  Africa  global  trade  global  economy  globalization  globalisation 
september 2015 by asterisk2a
The Anatomy of Brazil's Financial Meltdown - Bloomberg View
Brazil desperately needs a circuit breaker to eliminate the mounting threat of cascading negative outcomes. The best way to achieve this would be a series of official decisions, designed by the government and passed by the legislature, that restore the country's growth dynamic, contain its fiscal deterioration and reverse mounting inflationary pressures.
BRIC  credit  bubble  commodity  prices  China  Russia  OPEC  Oil  price  2015  centralbanks  ZIRP  NIRP  QE  distortion  western  world  secular  stagnation  global  economy  global  trade  global  imbalances  faultlines  Structural  Impediments  imbalance 
september 2015 by asterisk2a
Collision course? Rise of China a stress for the US - BBC News
"The United States welcomes the rise of a China that is peaceful, stable, prosperous and a responsible player in global affairs."
USA  China  BRIC  AIIB  World  Bank  TTIP  TPP  TISA 
september 2015 by asterisk2a
Fed chief Yellen says US rate rise still likely this year - BBC News
The US remains "on track" for an interest rate rise this year, Federal Reserve chief Janet Yellen has said. The central bank head said as long as inflation was stable and the US economy was strong enough to boost jobs, the conditions would be right for a rise. Despite expectations of a rise this month, the Fed held rates, in part due to fears about global economic growth. Ms Yellen, speaking at the University of Massachusetts, said US economic prospects "generally appear solid". Speaking a week after the Fed delayed that long-anticipated hike, she said she and other policymakers did not expect recent global economic and financial market developments to significantly affect the central bank's policy. Much recent inflationary weakness is due to special and likely temporary factors, such as a strong dollar and low oil prices, she said. //&! http://www.bloombergview.com/articles/2015-09-25/janet-yellen-s-flip-flop-confuses-markets
Janet  Yellen  Fed  Fed  mandate  inflation  expectation  inflation  targeting  secular  stagnation  western  world  centralbanks  QE  ZIRP  NIRP  Taper  QT  petrodollar  Petroleum  Industry  commodity  prices  China  credit  bubble  BRIC  Brazil  Russia  India  BIS  Richard  Koo  global  economy  global  trade  2015  BOE  monetary  policy  unconventional  monetary  policy  debtoverhang  household  debt  consumer  debt  private  debt  credit  card  car  loan  Student  deleveraging  faultlines  Structural  Impediments  imbalance  wage  stagnation  wage  growth  squeezed  middle  class  disposable  income  discretionary  spending  income  growth  low  income  income  distribution  inequality  Gini  coefficient  Service  Sector  Jobs  job  creation  job  market  labour  economics  labour  market  Niedriglohnsektor  competitive  competition  flat  world  borderless  globalization  globalisation  recovery  fiscal  policy  underinvestment  productive  investment  asset  bubble  FOMO  hunt  for  yield  Super  Rich  1%  hot-money  currency-war  currency  war  currency  debasement  Dollar  speculative  bubbles  asset  allocation  equity  bubble  distortion  irrational  exuberance  property  bubble  macroprudential  policy  USA  UK 
september 2015 by asterisk2a
U.S. and China Seek Arms Deal for Cyberspace - The New York Times
In the last year there have been devastating Chinese hacks of American computer systems, and the U.S. government has floated the idea of sanctioning China in response. Here's the apparent response: A noticeable downtick in significant hacks of American networks, and news that the U.S. and China are working on a cybersecurity arms deal, ahead of Chinese President Xi Jinping's Thursday arrival in America. The proposed agreement would supposedly prevent either nation from attacking the other's "critical infrastructure" during peacetime.
cyber  war  cyber  attack  military–industrial  complex  military  intervention  Surveillance-Industrial  surveillance  state  Internet  Privacy  Privacy  Five  Eyes  GCHQ  UK  USA  BRIC  China  Russia  Israel  Intelligence  Agency  Foreign  Intelligence  BND  cyber  espionage  corporate  espionage  industrial  espionage  Europe  affairs  policy  relations  Pentagon  CIA  NSA 
september 2015 by asterisk2a
Zumper: One-Third Of San Francisco’s Rent Is Attributable To VC Funding | TechCrunch
[capital efficiency?] // the other 1/4th is bidding up via credit bubble riches, diversification. other 2/4ths from planning restriction and natural biz cycle of sv //&! http://www.thebolditalic.com/articles/7266-an-open-letter-to-anyone-moving-to-san-francisco-for-a-tech-job - For context, people are right to be angry; shit is certainly fucked up. Since 2010, rents have risen by 40%, and eviction rates have risen by 38%—two rapid changes that have had very visual consequences all across the city. Much of SoMa, for instance, looks like an elephant graveyard. Sidewalks look like the surface of the moon; alleys are littered with broken glass; and streets are strewn with sleeping persons and human shit. All of this can be observed from in the shade of the brand-new office buildings and luxury condos that now line the streets everywhere east of 4th Street. [...] those who move to San Francisco and don’t engage with the community dilute and adulterate San Francisco’s sense of character.
San  Francisco  Venture  Capital  cost  of  living  cost  of  entry  standard  of  living  city  living  burn  rate  New  York  Start-Up  Scene  London  Scene  runway  Networking  Network  economies  of  agglomeration  ecosystem  community  gentrification  Gentrified  speculative  bubbles  property  bubble  credit  bubble  BRIC  QE  ZIRP  hunt  for  yield  FOMO  NIRP  centralbanks  asset  allocation  alternative  investment  allocation 
september 2015 by asterisk2a
UK productivity lags behind rest of G7 - BBC News
"Since the economic downturn, productivity growth has slowed in most developed economies, but by more in the UK than the average." The Chancellor, George Osborne, pledged in July to take steps to encourage more long-term investment in infrastructure and by businesses to boost productivity. Howard Archer, chief UK economist at IHS Global Insight, said British productivity had been held back since the financial crisis by the creation of lots of low-skilled, low-paid jobs where productivity is limited. However, Institute of Directors chief economist James Sproule said that UK firms should focus on "agility" rather than productivity. "The economy of the future looks set to be dominated not by big companies, but by fast, agile, quick-moving and reactive ones," he said. "The firms that can respond to consumer demands most effectively and bring new products and services to market will reap the rewards."
UK  productivity  recovery  output  gap  western  world  secular  stagnation  deflationary  deflation  Niall  Ferguson  competitive  competitiveness  BRIC  education  policy  job  market  job  creation  Niedriglohnsektor  Service  Sector  Jobs  precarious  work  Precariat  working  poor  disposable  income  discretionary  spending  income  distribution  income  growth  low  income  Gini  coefficient  income  mobility  social  mobility  inequality  poverty  trap  austerity  business  confidence  business  investment  budget2015  differentiate  differentiation  vocational  education  professional  education  Future  of  Software  Is  Eating  The  marginal  cost  marginal  propensity  to  consume  trickle-down  economics  economics  of  abundance  underinvestment  infrastructure  investment  STEM  Research  R&D  labour  market  manual  labour  Tories  Conservative  Party  macroprudential  policy  macroeconomic  policy  microeconomic  policy 
september 2015 by asterisk2a
Bank of England may cut rates, says chief economist - BBC News
Softening employment figures and weakening surveys on manufacturing and construction output suggested growth in the UK could slow in the second half of the year and inflation might not pick up as expected. Furthermore, problems in emerging markets could be a drag on UK growth and the headwinds from those economies were unlikely to abate any time soon, Mr Haldane added. //&! In a wide-ranging speech that called on central bankers to think more radically to fend off the next downturn – including the notion of abolishing cash – Haldane warned the UK was not ready for higher borrowing costs. He described recent events in Greece and China as "the latest leg of what might be called a three-part crisis trilogy."
China  sovereign  debt  crisis  European  Union  BRIC  credit  bubble  2015  headwinds  Fed  mandate  BOE  bond  bubble  Taper  Richard  Koo  fiscal  policy  austerity  monetary  policy  QE  ZIRP  NIRP  QT  British  Pound  Sterling  Dollar  petrodollar  FX  reserves  excess  reserves  liquidity  trap  GFC  economic  history  trickle-down  economics  Pact  Schuldenbremse  George  Osborne  budget2015  David  Cameron  industrial  policy  underinvestment  infrastructure  investment  productivity  output  gap  STEM  Research  competitiveness  competitive  differentiate  differentiation  shadow  banking  banking  crisis  leverage  margin  trading  speculative  bubbles  property  bubble  asset  allocation  capital  allocation  asset  bubble  hunt  for  yield  FOMO  equity  bubble  Gini  coefficient  inequality  social  mobility  crony  capitalism  Wall  Street  business  confidence  business  investment  profit  maximisation  shareholder  value  share  buyback  Niall  Ferguson  secular  stagnation  western  world  deflationary  deflation  macroprudential  policy  microeconomic  policy  education  policy  fairness  Generationengerechtigkeit  bank  bailout  tax  evasion  tax  avoidance  tax  code  corporate  tax  rate  short-term  thinking  short-term  view  monetary  transmission  mechanism  monetary  stimulus  monetary  policy  monetary  monetary  debt  unconve 
september 2015 by asterisk2a
OECD: leading countries spend $200bn a year subsidising fossil fuels | Environment | The Guardian
Thinktank says member states and six biggest emerging economies should use sum to tackle climate change instead //&! Company emerges as Europe’s worst climate policy wrecker, according to a new table ranking firms by their records on lobbying and opposition - bit.ly/1Qtfq8j //&! 'its always about jobs' how about reframe it and retrain these people vs putting them directly on the dole, funded by government - long-term investment! duh. there is always an alternative. //&! nyr.kr/1W8YWpH - What Exxon Knew About Climate Change - The influence of the oil industry is essentially undiminished, even now. The Obama Administration may have stood up to Big Coal, but the richer Big Oil got permission this summer to drill in the Arctic;
subsidies  subsidizing  lobbyist  lobby  Lobbying  Wall  Street  fossil  fuel  renewable  energy  green  energy  climate  change  Career  Politicians  babyboomers  Generationengerechtigkeit  fairness  climate  crisis  climate  science  food  security  food  prices  National  global  warming  ocean  warming  ecological  disaster  environmental  disaster  mass  extinction  drought  flash  floods  extreme  weather  weather  extreme  economic  damage  profit  maximisation  shareholder  value  short-term  thinking  short-term  view  shared  economic  interest  coastal  erosion  soil  erosion  BRIC  Africa  pollution  Super  Rich  democracy  1%  crony  capitalism  capitalism  corruption  bribery  PR  spin  doctor  reframing  framing  Alternativlos  TINA  macroeconomic  policy  macroprudential  policy  microeconomic  policy  Makers  No  Representation  social  contract  Arctic  Oil  Big  Oil  Big  Coal  Big  Sugar  Big  Tobacco  Big  food  industry  WHO  Kyoto  social  change  public  perception  public  opinion  public  awareness  public  image  public  debate  public  discourse  Good  public  interest  corporate  state  corporate  media  manufactured  consent  Polarisation  propaganda  populism  communication 
september 2015 by asterisk2a
This growing migration crisis is the canary in the mine on climate change | Mahmoud Solh | Global development | The Guardian
[ its a national security issue ] Conflict in the Middle East forces people to flee, but so does drought, destroying crops and livelihoods. We must invest in science for sustainable agriculture
National  Security  food  prices  democracy  Africa  Middle  East  Arab-Spring  climate  change  climate  crisis  global  warming  drought  Eurasia  Latin  America  flash  floods  Wildfire  food  shared  economic  interest  Wall  Street  profit  maximisation  shareholder  value  carbonfootprint  carnism  Vegan  Whole  Plant  Foods  omnivore  WHO  obesity  epidemic  chronic  diseases  cancer  diabetes  western  world  China  BRIC  deforestation  Amazonas  Desertification  soil  erosion 
september 2015 by asterisk2a
Egon Krenz: der Kalte Krieg war nie zu Ende by Sputnik Deutschland
Europa ohne Russland geht nicht. USA sieht nicht gern das Europa/Deutschland gut mit Russland sind. [...] Die idee des kommunismus ist nicht tod zu kriegen. [...] Der kapitalismus kann nicht das letzte wort gehabt haben. [...] AIIB & BRIC (+South Africa) - ohne USA, ohne EU (ja nicht alle, Germany in AIIB)! // TTIP und co. schliesst BRIC aus. Punkt!!! USA will sich wirtschafts and und politische macht sichern mit TTIP und TPP before es zu spaet ist. // battle of ideas. battle to capture parts of new world, global trade and economy, future generations (emerging middle class).
Ukraine  Ukrain  Russia  vladimirputin  Putin  Europe  NATO  Cold  War  cyber  Middle  East  USA  foreign  affairs  geopolitics  foreign  policy  foreign  relations  Intelligence  German  reunification  UK  East  Europe  United  Nations  Security  Council  United  Nations  Angela  Merkel  Leadership  Crimea  Crimea  Crisis  presidency  barackobama  David  Cameron  diplomacy  Baltic  States  Balkan  East  Germany  east-europe  east-germany  China  World  Police  global  economy  sanctions  protectionism  global  trade  BRIC  European  Union  Turkey  Eurasia  Germany  cooperation  GCHQ  NSA  surveillance  state  Surveillance-Industrial  Complex  history  Aid  Arab  League  OPEC  military–industrial  military  intervention  neoconservatism  neoconservatives  neoliberalism  neoliberal  ISIS  al-Qaida  Taliban  Iraq  War  Iraq  Iran  Afghanistan  globalization  globalisation  TTIP  TPP  CETA  cablegate  Wikileaks  AIIB  World  Bank  TISA  Wall  Street  crony  capitalism  capitalism  ideology  dogma  emerging  class  Developing  World  Frontier  Markets  emerging  market  economic  history  trickle-down  economics  political  economy  political  science  political  theory  Niall  Ferguson  Africa  South  Africa 
september 2015 by asterisk2a
Weltwirtschaft: BIZ warnt vor Krediten in Schwellenländern - SPIEGEL ONLINE
Die Bank für Internationalen Zahlungsausgleich sieht Alarmzeichen für Banken in vielen Schwellenländern. Die Kreditvergabe in China, Brasilien oder der Türkei habe ein bedrohliches Verhältnis angenommen, warnt die Notenbank. // &! Die Welt steuert auf den Bankrott zu (QE trap): Eine vorläufige Antwort: Das tieferliegende Problem besteht darin, dass sich die Weltwirtschaft insgesamt auf den Bankrott zubewegt - und das wird umso schneller gehen, je höher die Zinsen sind und je niedriger die Preissteigerungsraten.
BIS  credit  bubble  2015  China  BRIC  NPL  shadow  banking  junk  bond  creditrating  banking  crisis  excess  reserves  QE  ZIRP  NIRP  hot-money  currency-war  currency  debasement  currency  war  centralbanks  economic  history  hunt  for  yield  FOMO  speculative  bubbles  FX  reserves  Turkey  Brazil  Developing  World  Fed  distortion  unknown  unkown  unintended  consequences  Raghuram  Rajan  BOE  BOJ  Abenomics  PBOC  ECB  emerging  market  emerging  middle  class  AIIB  Asia  South  Africa  Latin  America  deflationary  deflation  secular  stagnation  western  Niall  Ferguson  globalization  globalisation  wage  stagnation  disposable  income  income  distribution  income  inequality  income  growth  income  mobility  income  gap  wage  growth  GFC  recovery  fiscal  policy  monetary  policy  austerity  Pact  European  Union  UK  USA  Richard  Koo  Joseph  Stiglitz  Paul  Krugman  dogma  ideology  Fed  mandate  inflation  targeting  New  Normal  bond  bubble  QE  trap  liquidity  trap  reflate  reflation  asset  bubble  asset  allocation  property  bubble  capital  allocation  QT  debt  monetisation  debt  monetization  trickle-down  economics  marginal  cost  economics  of  abundance  digital  economy  Software  Is  Eating  The  World  World  Bank  IMF  savings  glut  faultlines  structural  imbalance  Impediments  Super  Cycle  debt  ser 
september 2015 by asterisk2a
RICHARD KOO: 'Struggle between markets and central banks has only just begun' - Business Insider
… much of the rise in share prices and fall in currency values under QE were nothing more than liquidity-driven phenomena divorced from real economy fundamentals. Now that an end to QE is in sight, it is time for a correction. Fed Chair Janet Yellen’s remarks several months ago about elevated stock market valuations were most likely a reference to this bubble. A correction of some kind was inevitable as the Fed moved to normalize monetary policy. However, it still needed a trigger, and that was provided by China. [...] “The market gyrations of the last two months represent just the beginning of the QE trap”, says Koo.
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september 2015 by asterisk2a
The Fed has to deal with its own zombie apocalypse
"However, there are pockets of greater weakness like these zombie companies. These pockets are likely to see some more turbulence than overall conditions. Some companies definitely will go out of business." It isn't just the zombies, though, that should worry about higher rates. Corporate America overall has been piling on the debt, which grew 8.3 percent in the second quarter, according to figures the Fed released Friday. [...] Michael Contopoulos, high-yield strategist at Bank of America Merrill Lynch, said the high-yield space is a mess no matter what the Fed does. Global economic weakness and deteriorating fundamentals are making it increasingly harder for the Fed to underwrite junk debt through a zero funds rate. [...] Earnings for junk companies have been "incredibly weak," [...] "leverage is at all-time highs" while "defaults and downgrades are creeping into the market." [...] the issues with high-yield could be more secular in nature.
zombie  corporations  zombie  consumer  Junk  Bond  Taper  Fed  Fed  mandate  USA  Richard  Koo  interest  payments  bubble  ZIRP  NIRP  QE  unconventional  monetary  policy  unintended  consequences  distortion  unknown  unkown  complexity  QT  2015  China  credit  bubble  BRIC  monetary  policy  monetary  transmission  mechanism  liquidity  trap  liquidity  squeeze  credit  ratings  secular  stagnation  western  world  refinancing  debt  monetisation  debt  monetization  corporate  debt  leverage  margin  trading  reflate  reflation  productivity  UK  Europe  output  gap  competitive  competition  globalization  globalisation  borderless  flat  world  New  Normal  economic  history  trickle-down  economics  marginal  cost  economics  of  abundance 
september 2015 by asterisk2a
Is Global Economic Doubt Behind the Unchanged Rate? - YouTube
youtu.be/f5_AGIMe32k // much higher $ already put ~25bps on US domestic market. // Fed is a risk manager now // labour market got a check mark, but not inflation bc of tech, stronger$ (taper anticipation), commodities lower, further deflationary pressures (retail price fighting 4 increase like4like sales), globalisation (competition), secular stagnation (continued low growth in western world, lower aggregate demand overall, lower baseline), consumer unable 2pickup where it threw in hat (deleveraging, no savings, debt overhang household, consumer). A new normal of growth of ~3% (give/take) globally aggregate & western wrld (2-2.5%, EU aggregate even lower). In this world, THERE WILL BE NO INFLATION PRESSURE (2% or higher, &3bn ppl free labour wrldwide) IN THE FORESEEABLE FUTURE AS THE REAL ECONOMY 4 EVERY DAY FOLK DOESNT REFLECT REFLATED ASSET PRICES via QE, ZIRP, credit bubbles arnd world enabled by central banks. &! youtu.be/NVa5fkz8X0o &! youtu.be/Ny3bbonX3d0 &! 1.usa.gov/1JdKZxp
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september 2015 by asterisk2a
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