asterisk2a + greatrecession   481

On the House: Westminster alcohol report censored by Commons speaker — RT UK
https://en.wikipedia.org/wiki/United_Kingdom_general_election,_2010 - "we are all in this together" --- Subsidy for MPs' bars and restaurants rises to £5.8m. The taxpayers’ subsidy for the bars and restaurants in the Houses of Commons has risen to £5.8m a year, despite promises by parliamentary official to cut public funding for politicians’ meals and drinks. - bit.ly/1mOzZUj //&! Cheers! MPs freeze beer prices in Parliament AGAIN despite £7m a year taxpayer subsidy. MPs have voted to freeze their own bar bills to keep beer prices to £2.90. Taxpayers already subsidising catering by millions of pounds a year. Comes after Strangers' Dining Room given £200,000 facelift. - dailym.ai/VdjtPC
Westminster  expense  scandal  Toff  Establishment  austerity  Privileged  double  standard  No  Representation  David  Cameron  George  Osborne  Tories  nasty  party  Conservative  PR  spin  doctor  Positioning  election  campaign  promises  general  election  2015  general  election  2010  Manifesto  trust  distrust  trustagent  bank  bailout  GFC  greatrecession  fairness  babyboomers  Generationengerechtigkeit  accountability  transparency 
january 2016 by asterisk2a
Hungarian PM says UK must alter tax credits plan for EU citizens | Politics | The Guardian
In a sign of the strength of feeling in eastern and central Europe over the proposed ban, Viktor Orbán said Hungarians should not be described as migrants anywhere in the EU, and said Cameron’s EU reform proposals must not be discriminatory. Orbán made his remarks at an upbeat press conference with his British counterpart in Budapest, in which he said he agreed with three out of the four reform proposals that Britain has tabled. His only disagreement is over the plan to ban EU workers from claiming in-work benefits for four years.
Brexit  migration  immigration  UK  Positioning  PR  spin  doctor  Tories  nasty  party  UKIP  public  sentiment  Nationalism  patriotism  recovery  GFC  austerity  greatrecession  David  Cameron  George  Osborne  Theresa  May  Islamophobia  public  perception  Xenophobia  Ausländerfeindlichkeit  Germany  European  Union  Rechtsextremismus  Rechtsruck  far-right  disenfranchise  disenfranchised  Integrationspolitik  Sozialpolitik  post  code  lottery  education  policy  short-termism  Banlieue  France  Paris  London  Opportunism  opportunist  Religion  Toff  Privileged  Establishment  Westminster  Services  Social  Services  general  election  2015  election  campaign  promises  Manifesto  Snoopers  Charter  constituency  babyboomers  Wertegesellschaft  Gesellschaft  society 
january 2016 by asterisk2a
▶ How The Economic Machine Works by Ray Dalio
credit great 4 productive investments 4 the future that will benefit u/me/gov/biz like infrastructure/edu/skills. but waste 4 pure consumption that dont increase productivity in the long run. Like consumer credit spend 2 replace a 2yr old flat screen. vs consumer credit 4 vocational/professional further edu 2 get a higher earning job (future higher income 2 repay the then debt liability & have some more/left over). Bad if u dont have later higher earnings from higher education 2 repay debt & just work in an underemployed placement that any college dropout could do. Thing is, college dropout doesnt have that debt liability that the higher education person has (reduced disposable income bc debt repayment + interest payments.) Women are hit double (gender pay gap) & triple (childcare long-term earnings loss). // min16 income growth important 2 keep up with debt repayment beyond interest. if not, we reached peak long-term debt cycle! // doesnt include globalisation's deflationary effects
credit  bubble  austerity  business  cycle  debt  cycle  financial  cycle  Super  economic  cycle  productivity  income  growth  wage  growth  wage  stagnation  output  gap  economics  disposable  income  discretionary  spending  economic  history  living  standard  standard  of  living  gender  pay  gap  reflate  reflation  asset  bubble  equity  bubble  China  USA  2015  speculative  bubbles  secular  stagnation  stagnation  deflationary  deflation  household  debt  government  debt  public  debt  debt  servitude  student  loan  debt  consumer  debt  debtoverhang  balance  sheet  recession  deleveraging  sovereign  debt  crisis  debt  bubble  student  debt  debt  monetisation  debt  monetization  private  debt  GFC  recovery  Richard  Koo  liquidity  trap  NPL  excess  reserves  zombie  banks  zombie  consumer  debt  restructuring  QE  ZIRP  NIRP  debt  jubilee  greatrecession  Great  Depression  budget  deficit  Super  Rich  Polarisation  Thomas  Piketty  tax  evasion  tax  avoidance  fairness  inequality  Gini  coefficient  social  cohesion  social  tension  social  contract  Career  Politicians  Joseph  Stiglitz  Paul  Krugman  Robert  Reich  Mark  Blyth  income  redistribution  income  inequality  income  mobility  social  mobility  capital  gains  tax  tax  code  corporate  tax  rate  lost  decade  lost  generation  neoliberalism  neoliberal  globalization  globalisation  western  world  developed  world  Europe  competitiveness  competition  competitive  flat  world 
september 2015 by asterisk2a
Europe's economic challenge not just about Greece - BBC News
IMF, Christine Lagarde, said: "I remain firmly of the view that Greece's debt has become unsustainable." [...] Greek debt will reach 201% of GDP some time next year. [...] It is unlikely a portion of the debt will be written off but there may well be an agreement to extend current loans and to lower the rates of interest. [...] [ the overall health of Europe as a whole and its individual parts in question] [...] the eurozone economy splutters. There is a recovery - the eurozone is growing at an annual rate of 1.3% - but it is patchy. In the [Q2'15] France and Italy, which account for 40% of the eurozone economy, flat-lined. Italy which had only recently emerged from recession fell back, managing growth of just 0.2%. [...] [ ECB: on balance, outlook remains on the downside ] The eurozone economy is still smaller than it was in 2008. [...] The fundamental challenges to the European economy remain - how to innovate [...] modernise [...] [ EU project living up to its potential ]
Europe  Germany  France  PIIGSFB  Greece  recovery  2015  bailout  bank  bailout  IMF  debt  restructuring  debt  jubilee  Insolvenzverschleppung  insolvent  insolvency  sovereign  debt  crisis  greatrecession  austerity  ChristineLagarde  Troika  Wolfgang  Schäuble  Angela  Merkel  Leadership  economic  history  unemployment  long-term  unemployment  structural  unemployment  youth  unemployment  Impediments  faultlines  structural  imbalance  European  Union  Fiscal  Pact  Schuldenbremse  GFC  sovereignty  lost  decade  lost  generation  EuropeanSystemicRiskBoard  European  Parliament  Career  Politicians  No  Representation  policy  folly  policy  error  Generationengerechtigkeit  fairness  short-term  thinking  short-term  view  Opportunism  opportunist  smoking  gun  smoke  mirror  corporate  media  manufactured  consent  propaganda  populism  European  Election  2014  Lügenpresse  industrial  policy  STEM  PR  spin  doctor  economic  damage  social  tension  social  contract  social  cohesion  competitive  competition  competitiveness  differentiate  differentiation  Software  Is  Eating  The  World  skill-biased  technological  change  technological  progress  Smart  Grid  political  political  theory  political  economy  political  error  political  folly  Politics  Ego  interest  groups 
august 2015 by asterisk2a
Richard Koo: "Out of the Balance Sheet Recession and into QE 'Trap'" - YouTube
Released new book end of 2014. // Banks unable to lend money 2 unwilling (eligible) customers. Money remains on the private banks (&Central Banks in form of bonds) balance sheets/books & mostly allocated towards parking it overnight @Central Banks deposit facility (thus ECB put up a deposit levy, late into the game) or liquid fairly un(der)productive investment classes like gov bonds. // Companies (& people ie 4 education/housing) borrowing & investing (into the future, that is uncertain, unknown, deflationary)!? // 19:30 Even Abenomics is not working. Bc trauma towards Debt! behavioural economics: experience of debt servitude on less income, additional uncertainty & distrust! // Lowering corporate tax rate (like George Osborne) does not help. // Persistent low inflation expectations. // Taper extremely difficult: 2.5trn excess in long bonds. Unknown territory. Possibly future higher interest rates than fnd economic growth does warrant - adding to output gap & new normal.
2015  UK  USA  liquidity  trap  QE  ZIRP  NIRP  balance  sheet  recession  deleveraging  debtoverhang  Japan  Fed  BOE  BOJ  GFC  recovery  austerity  economic  history  economic  model  academia  deflationary  monetary  transmission  mechanism  M3  LTRO  TLTRO  lost  decade  lost  generation  fiscal  policy  monetary  policy  Career  Politicians  bond  bubble  equity  bubble  property  bubble  negative  real  interest  rate  deposit  levy  economic  growth  trickle-down  economics  secular  stagnation  headwinds  Great  Depression  PIIGSFB  PIGS  macroeconomic  policy  microeconomic  policy  economic  damage  behavioral  economics  zombie  banks  Abenomics  squeezed  middle  class  wage  growth  wage  stagnation  cash  flow  cash  flow  management  trust  distrust  long-term  view  long-term  thinking  sovereign  debt  crisis  debt  servitude  household  debt  debt  monetisation  debt  monetization  Super  Cycle  student  loan  debt  private  debt  consumer  debt  student  debt  George  Osborne  David  Cameron  competitiveness  competitive  industrial  policy  budget2015  business  investment  infrastructure  investment  demographic  bubble  uncertainty  Sozialer  Abstieg  disposable  income  discretionary  spending  Yen  JGB  Taper  greatrecession  USD  dogma  ideology  public  investment  short-term  thinking  short-term  view  productivity  output  gap  underinvestment  productive  investment  book  rate  private  savi 
july 2015 by asterisk2a
WDR Kinozeit Dokumentarfilm Agora: Sendung vom 05.02.2015 - YouTube
Die Eurokrise aus griechischer Sicht: "AGORÁ - Von der Demokratie zum Markt" // &! Post-democracy (Themes for the 21st Century Series) Paperback – 23 Jun 2004 by Colin Crouch &! Making Capitalism Fit For Society Paperback – 6 Sep 2013 - by Colin Crouch "The aim of this book is to show that the acceptance of capitalism and the market does not require us to accept the full neoliberal agenda of unrestrained markets, insecurity in our working lives, and neglect of the environment and of public services."
documentary  Greece  sovereign  debt  crisis  Eurokriese  GFC  economic  history  fractional  reserve  banking  banking  crisis  TBTF  toobigtofail  Career  Politicians  oligopoly  oligopol  systemicrisk  systemic  risk  crony  capitalism  capitalism  Wall  Street  shareholder  value  Bailout  haircut  austerity  fiscal  sovereignty  IMF  Troika  book  European  European  Union  PIGS  democracy  liberal  economic  reform  Indignados  Indignants  Social  Media  lehmanbrothers  Lehman  Brothers  Yanis  Varoufakis  neoliberal  neoliberalism  deregulation  regulators  regulation  self-regulation  game  theory  No  Representation  1%  Establishment  Super  Rich  Super  Cycle  debt  bubble  bond  bubble  Privileged  Pact  carmenreinhart  KennethRogoff  Carmen  Reinhart  Kenneth  Rogoff  greatrecession  lost  decade  lost  generation  Lobbying  lobbyist  lobby  interest  groups  inequality  Gini  coefficient  economic  damage  trickle-down  economics  UK  George  Osborne  David  Cameron  Angela  Merkel  Wolfgang  Schäuble 
february 2015 by asterisk2a
Die Fakten über Griechenland - Undankbare Faulenzer? - Monitor 05.02.2015 - Bananenrepublik - YouTube
http://www.spiegel.de/kultur/gesellschaft/deutschland-in-der-eurokrise-ist-merkel-wie-bismarck-a-1016336.html - Deutsche Vorherrschaft in Europa: "Ein neuer Wirtschaftsnationalismus" Die "deutsche Frage" ist zurück: Der Wissenschaftler Hans Kundnani vergleicht Merkels Bundesrepublik mit dem Kaiserreich unter Bismarck. Hier erklärt er, wie er darauf kommt. [...] Herr Kundnani, Sie haben ein Buch über Deutschlands Rolle in der Eurokrise geschrieben, das im Jahr 1871 beginnt. Warum? [...] Publizisten wie George Soros und Martin Wolf schreiben sogar von einem neuen "German Empire". (( Hans Kundnani ist Research Director am European Council on Foreign Relations, wo er vor allem zu deutscher Außenpolitik forscht. )) &! http://www.spiegel.de/kultur/gesellschaft/otto-von-bismarck-bismarck-jahr-wegen-200-geburtstag-a-1011970.html - Bismarck-Jahr 2015: Der deutsche Traum als Schrecken Europas
Grexit  Greece  populism  Career  Politicians  Angela  Merkel  IMF  austerity  economic  history  Wolfgang  Schäuble  European  Union  Troika  Bailout  haircut  PIGS  Syriza  Podemos  Spain  humanitarian  crisis  human  tragedy  Politics  lost  generation  lost  decade  sovereign  debt  crisis  fiscal  sovereignty  greatrecession  GFC  recovery  Germany  Eurokriese  book  Europe  European  Exportweltmeister  Soziale  Marktwirtschaft  national  identity  identity  culture  Nationalismus  Nationalism  history  foreign  affairs  faultlines  Structural  Impediments  imbalance 
february 2015 by asterisk2a
BBC News - Greece: Germany warns over debt commitments
Sparen, nein Danke. Die Griechen haben der deutschen Euro-Rettungspolitik eine Absage erteilt. Jetzt muss die Kanzlerin ihre Strategie ändern - und notfalls eine Parallelwährung zulassen. - http://www.spiegel.de/wirtschaft/soziales/griechenland-angela-merkel-und-der-scherbenhaufen-ihrer-krisenpolitik-a-1015010.html
Grexit  Syriza  Angela  Merkel  austerity  Europe  GFC  greatrecession  recovery 
january 2015 by asterisk2a
Hans Rosling on global income disparity (and snowballs) - Newsnight - YouTube
inequality, on a global scale without borders is shrinking. inequality within borders of a country, is across the globe, increasing. // although - inequality is still there; Share of global wealth of the top 1% and bottom 99% respectively; the dashed lines project the 2010–2014 trend. By 2016, the top 1% will have more than 50% of total global wealth. &! Wealth of the 80 richest people in the world has doubled in nominal terms between 2009 and 2014, while the wealth of the bottom 50% is lower in 2014 than it was in 2009. << http://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/ib-wealth-having-all-wanting-more-190115-en.pdf &! A 25 year gap between the life expectancy of rich and poor Londoners is a further indictment of our unequal society One of the greatest determinants of a person’s health is their income. ind.pn/1aoUeuN &! http://theconversation.com/the-1-are-bad-for-your-health-its-time-to-tax-them-more-36526 - Book Spirit Level
inequality  Gini  coefficient  social  cohesion  No  Representation  democracy  Career  Politicians  trust  trustagent  confidence  economic  history  GFC  recovery  austerity  greatrecession  Wall  Street  fiscal  policy  monetary  policy  tax  code  taxation  tax  evasion  tax  avoidance  Super  Rich  1%  Establishment  Toff  Privileged  working  poor  middle  class  squeezed  middle  class  Proletariat  Precariat  precarious  work  income  inequality  public  health  policy  public  health  NHS  Book 
january 2015 by asterisk2a
What's up for grabs in May 2015? - Newsnight - YouTube
"people are sick of politics." &! https://www.facebook.com/naomi.wolf.author/posts/10153007217144476 - "When people say they have no politics, it means that their politics aligns with the status quo. None of us are unbiased, none removed from the question of power. We are social creatures who absorb the outlook and opinions of those with whom we associate, and unconciously echo them. Objectivity is impossible." "The illusion of neutrality is one of the reasons for the rotten state of journalism, as those who might have been expected to hold power to account drift thoughtlessly into its arms." http://www.theguardian.com/commentisfree/2015/jan/20/broadcasters-mouthpieces-of-elite-balanced-news-journalists
general  election  2015  UK  political  science  political  theory  political  economy  democracy  No  Representation  political  error  policy  folly  policy  error  Labour  Party  Liberal  Democrats  Conservative  Party  Toff  Establishment  Privileged  UKIP  recover  21stcentury  GFC  greatrecession  Protest  Protest  Parties  Protest  Party 
january 2015 by asterisk2a
Capitalism in Crisis Amid Slow Growth and Growing Inequality - SPIEGEL ONLINE
Six years after the Lehman disaster, the industrialized world is suffering from Japan Syndrome. Growth is minimal, another crash may be brewing and the gulf between rich and poor continues to widen. Can the global economy reinvent itself? [...] The buzzword is "inclusion" and it refers to a trait that Western industrialized nations seem to be on the verge of losing: the ability to allow as many layers of society as possible to benefit from economic advancement and participate in political life. & http://youtu.be/hPPBYNKmuWc?t=3m52s IMF talking about over 70% of EU banks are Zombie Banks.
Japan  economic  history  GFC  recovery  greatrecession  2014  secular  stagnation  faultlines  Abenomics  Richard  Koo  structural  imbalance  global  imbalances  Impediments  structural  deficit  liquidity  trap  globalisation  globalization  flat  world  Gini  coefficient  social  cohesion  income  inequality  income  mobility  social  mobility  downward  mobility  disposable  income  academia  academics  fiscal  policy  monetary  policy  debtoverhang  Debt  Super  Cycle  sovereign  crisis  deleveraging  NPL  zombie  banks  business  investment  consumer  confidence  business  confidence  balance  sheet  recession  creditcrunch  Wall  Street  crony  capitalism  excess  Bailout  toobigtofail  TBTF  too  big  to  jail  unintended  consequences  equity  bubble  asset  bubble  ZIRP  NIRP  QE  OMT  TARP  LTRO  TLTRO  Funding  for  Lending  Scheme  IMF  BIS  Europe  UK  USA 
october 2014 by asterisk2a
ESM: Kreditprogramm ausgereizt - Nachfrage fehlt im Euro-Raum - SPIEGEL ONLINE
Der Bankenrettungsschirm ESM soll jetzt helfen, Unternehmen mit Krediten zu versorgen. Ein Vorschlag von beeindruckender Mutlosigkeit. Wesentlich wirksamer wäre es, das Geld per Hubschrauber über der Eurozone abzuwerfen. [...] Wäre es nicht besser, sich zunächst einmal zu fragen, welches Problem wir hier eigentlich lösen wollen? Ist Liquidität wirklich das Problem? Wohl kaum. Die Europäische Zentralbank legt dauernd neue Liquiditätsprogramme für den Bankensektor auf. Und was passiert? Die Banken wollen das Geld nicht und zahlen lieber die alten Kredite schnell zurück. Wenn Liquidität nicht mehr das Problem ist, wie soll dann ein Kreditprogramm helfen? [...] Firmen wollen keine Kredite, sie wollen Aufträge +!+!+!+ http://blogs.wsj.com/moneybeat/2014/09/18/ecbs-tltro-program-analysts-roundup/ +!+!+!+ ZIRP also never arrive for businesses.
ESM  TLTRO  LTRO  ABS  monetary  transmission  mechanism  ECB  fiscal  policy  Pact  infrastructure  investment  business  investment  creditcrunch  creditcrisis  Europe  monetary  policy  unconventional  monetary  policy  business  confidence  confidence  trust  trustagent  deleveraging  balance  sheet  recession  debtoverhang  Germany  zombie  banks  ZIRP  NIRP  negative  real  interest  rate  financial  repression  liquidity  trap  lost  decade  lost  generation  Supply  and  Demand  Demand  and  Supply  recovery  greatrecession  BRIC  MINT  Exportweltmeister  USA  UK  flat  world  secular  stagnation  stagnation  stagflation  economic  history  austerity  IMF  Richard  Koo  globalization  globalisation  uncertainty 
september 2014 by asterisk2a
BBC News - Farewell to the mother of all depressions
[ THE RECOVERY, THE GLASS IS HALF FULL. PERIOD. ]But nonetheless many will be slightly depressed that although the service economy is now just under 3% bigger than it was at the peak, manufacturing is still more than 7% smaller, and the production industries as a whole have been diminished by 11%. As I have bored on about for a while, although it is heart-warming to see UK manufacturing growing right now, there has been no rebalancing of the economy back towards the makers. Also, within services, the contribution of shoppers to the recovery remains immense - and the retail trade made the biggest contribution to the latest quarter's services surge. That suggests we may be at a premature end to households' attempts to strengthen their finances and pay down debts - and shows that growth in the economy remains perilously sensitive to the cost of money.
UK  recovery  greatrecession  2014  Structural  Impediments  imbalance  faultlines  zombie  consumer  debtoverhang  Taper  ZIRP  NIRP  liquidity  trap  QE  negative  real  interest  rate  BOE  fiscal  policy  monetary  policy  austerity  greatdepression  lost  decade  lost  generation  George  Osborne  David  Cameron  working  poor  squeezed  middle  class  underemployed  IMF  infrastructure  investment  business  investment  productivity  output  gap  London  economies  of  agglomeration  Aberdeen  industrial  policy  comparative  advantage  competitiveness  competitive  advantage  tax  code  taxation  tax  avoidance  tax  evasion  tax  credit  tax  free  income  GFC  creditcrisis  creditcrunsh  balance  sheet  recession  deleveraging  sovereign  debt  crisis  Super  Cycle  manufacturing  Consumerism  consumerist  consumer  debt  reflation  equity  bubble  bond  bubble  household  debt  economic  history 
september 2014 by asterisk2a
David Blanchflower: Do not be fooled – growth and living standards under the Coalition have still been abysmal - David Blanchflower - Business Comment - The Independent
Over the entire six-year period [ 2009 - 2013] real earnings in the UK fell by 6.5 per cent, and by 5.9 per cent between 2010 and 2012, and only Greece (minus 23 per cent) was lower. Real earnings growth was positive over this entire period in France (+5 per cent); Germany (+4 per cent); Japan (+1 per cent) and the US (+1 per cent).
greatrecession  UK  GFC  output  gap  productivity  stagflation  secular  stagnation  austerity  fiscal  policy  monetary  policy  Funding  for  Lending  Scheme  monetary  transmission  mechanism  property  bubble  indusrty  London  finance  zombie  banks  zombie  consumer  sovereign  debt  crisis  debtoverhang  deleveraging  balance  sheet  recession  lost  decade  lost  generation  George  Osborne  David  Cameron  No  Representation  Help  to  Buy  Scheme  Supply  and  Demand  Demand  and  Supply  living  standard  working  poor  squeezed  middle  class  class  warfare  Toff  private  education  OECD  BOE  unconventional  monetary  policy  macroprudential  policy  education  policy  Public  economies  of  agglomeration  economic  history  Mark  Carney 
september 2014 by asterisk2a
Lex v Wolf on shareholder value - YouTube
aim of increasing shareholder value compelling execs and CEO's to do so leads to always looking for short-term views, decisions, models ... // thus the clay christensen disruption theory ( http://www.claytonchristensen.com/key-concepts/ ) as the original founders leave, and hired CEO strives for short-term optimisation, operational and managerial optimisation and cost reduction ... instead of continued innovation and disruption (even within their existing business). +++ http://www.forbes.com/sites/stevedenning/2012/07/03/does-business-short-termism-require-a-long-term-stock-exchange/ + http://www.ft.com/cms/s/6aa87b9a-2d05-11e4-911b-00144feabdc0
shareholder  shareholder  value  Wall  Street  corporatism  M&A  short-term  thinking  short-term  view  long-term  thinking  long-term  view  corporate  culture  corporate  values  Mindfulness  sustainability  sustainable  crony  capitalism  capitalism  GFC  greatrecession  marketshare  a16z  disrupting  markets  disruption  marketplace  inefficiencies  Public  Policy  CEO  Leadership  management 
august 2014 by asterisk2a
Stephanie Hare on the UK economy - Newsnight - YouTube
>> how many jobs have been lost regarding to banking in london and adjoining businesses ... thousands. thousands of hours of productivity gone (high charges for the hours). forever. = productivity and output gap || and how many times had osborne now moved forward expected savings and targets in time ... every year. || it will not get better as they travel (still) on the same path that leads to nowhere safe. still heading to the cliff. same direction. same speed.
secular  stagnation  flat  world  UK  living  standard  cost  of  living  wage  stagnation  minimum  wage  living  wage  working  poor  squeezed  middle  class  exploitation  wages  productivity  output  gap  Mobile  Creative  Mobile  Creatives  service  economy  service  industry  Services  economics  economic  history  academia  academics  BOE  fiscal  policy  monetary  policy  Mark  Carney  Public  knowledge  worker  workless  underemployed  employment  Politics  recovery  London  Structural  Impediments  deficit  imbalance  faultlines  Europe  GFC  greatrecession  2014  ZIRP  NIRP  QE  unknown  unknowns  unintended  consequences  complexity  incomplete  information  low-income  working  class  workforce  education  policy  White-collar  Future  of  Work  flexible  Zero  Hour  Contract  Blue-collar  behavioral  economics  corporatism  capitalism  globalisation  globalization  Debt  Super  Cycle  deleveraging  debtoverhang  balance  sheet  recession  sovereign  crisis  austerity  David  Cameron  George  Osborne  consumer  infrastructure  investment  infrastructure  hunt  for  yield  property  bubble  housing  market  bubble  policy  folly  policy  error  Career  Politicians  Toff  lost  decade  lost  generation  stagnation 
august 2014 by asterisk2a
Eurokrise: Angela Merkel betreibt riskante Rettung - SPIEGEL ONLINE
Es sind die inneren Widersprüche einer Währungsunion, die nur das sein will, aber nicht mehr, die uns jetzt einholen. Anstatt die Schuldenkrise durch eine Schuldenkonferenz zu lösen, verlagern wir das Problem, indem wir komplizierte Auffangschirme schaffen, die die Schulden lediglich von einer Ecke des Systems in die andere hinüberschieben. Das sieht gut aus, ändert aber an der Überschuldung von Griechenland und Portugal nicht einen Deut.
debt  jubilee  Super  Cycle  sovereign  debt  crisis  haircut  PIGS  Europe  Politics  Career  Politicians  policy  folly  policy  error  lost  generation  lost  decade  secular  stagnation  debtoverhang  deleveraging  NPL  balance  sheet  recession  greatrecession  greatdepression  2014  Germany  divergence  faultlines  global  imbalances  structural  imbalance  Impediments  structural  deficit  debt  restructuring  restructuring  infrastructure  investment  Leadership 
august 2014 by asterisk2a
Gefahr durch Niedrigzinsen - YouTube
ZIRP  NIRP  QE  asset  bubble  speculative  bubbles  Wall  Street  bond  bubble  PIGS  Fed  ECB  BOJ  Abenomics  BOE  GFC  unintended  consequences  unknown  unknowns  Europe  UK  USA  monetary  policy  unconventional  monetary  policy  monetary  transmission  mechanism  risk  taking  EuropeanSystemicRiskBoard  creditrisk  hunt  for  yield  deflation  deflationary  secular  stagnation  2014  balance  sheet  recession  deleveraging  Betongold  Beton  Gold  debtoverhang  Debt  Super  Cycle  sovereign  crisis  property  bubble  Germany  monetization  monetisation  NPL  IBS  zombie  banks  recovery  greatrecession  Structural  Impediments  deficit  unemployment  imbalance  faultlines  output  gap  productivity 
august 2014 by asterisk2a
DIW-Chef Fratzscher zu Banken-Stresstest, Lohnerhöhung - SPIEGEL ONLINE
Die Abhängigkeit zwischen Banken und Staaten hat in den letzten Jahren besorgniserregend zugenommen. Die berechtigte Sorge ist daher, dass Bankenrettungen die Staatshaushalte der hochverschuldeten Eurostaaten überfordert. Dann könnten wir leicht wieder in eine Krisensituation wie im Sommer 2012 geraten, als die Anleihezinsen für viele Eurostaaten drastisch nach oben geschossen sind. [...] Die größte Herausforderung für Europa ist, Wachstum zu schaffen. Nur durch ein deutlich stärkeres Wachstum kann es gelingen, dass die Unternehmen Beschäftigte einstellen, die Banken faule Kredite abbauen und die Staaten ihre Finanzen in Ordnung bringen. [...] [ +see end - Income Growth across the board in Germany Needed. Recent 2017 wage floor/minimum wage was overdue. Overdue. ]
GDP  Europe  zombie  banks  PIGS  NPL  non-performing  loan  balance  sheet  recession  debtoverhang  Richard  Koo  Japan  economic  history  debt  jubilee  lost  decade  lost  generation  Super  Cycle  ECB  liquidity  trap  history  GFC  greatrecession  greatdepression  2014  infrastructure  investment  underemployed  structural  unemployment  long-term  unemployment  youth  unemployment  unemployment  Germany  France  faultlines  Impediments  structural  imbalance  structural  deficit  budget  deficit  fiscal  deficit  tradedeficit  trade  deficit  academia  academics  policy  error  policy  folly  fiscal  policy  monetary  policy  ZIRP  NIRP  OMT  QE  monetary  transmission  mechanism  deleveraging  Politics  Career  Politicians  ownership  accountability  transparency  Bundesbank  BuBa  income  growth  minimum  wage  wage  floor  coldprogression  kalte  Progression 
july 2014 by asterisk2a
Henrik Müller über Wirtschaftswachstum 2014: Die Pessimisten sind los - SPIEGEL ONLINE
GDP  Why  Software  Is  Eating  the  World  Software  Is  Eating  World  2014  economic  history  digital  economy  happiness  index  Mobile  Creative  Mobile  Creatives  knowledge  worker  knowledge  economy  Age  digital  artist  digital  content  content  creator  New  academia  academics  Wikipedia  freemium  balance  sheet  recession  liquidity  trap  hunt  for  yield  ZIRP  QE  NIRP  deflation  deflationary  lost  generation  lost  decade  Year  of  Code  White-collar  Blue-collar  hybrid  work  workless  6-hour  work  day  workforce  working  poor  squeezed  middle  class  productivity  output  gap  Silicon  Valley  education  policy  practical  skills  practical  skill  set  disposable  income  leisure  time  Robert  Skidelsky  volunteering  volunteer  maximisation  of  happiness  Jack  of  All  Trades  Future  Future  of  book  Tim  Ferriss  work  life  balance  worklife  underemployed  self-employment  freelance  freelancing  complexity  unknown  unknowns  GFC  greatdepression  greatrecession  Europe  UK  USA  PIGS  debtoverhang  sovereign  debt  crisis  Richard  Koo  Super  Cycle  debt  monetization  debt  monetisation  debt  bubble  debt  jubilee  Japan  BOE  Fed  ECB  Open  Source  Linux  GitHub  BOJ  sharing  economy  less  more  zeitgeist  generational  change  Millennials  generationy  Consumerism  digital  digital  consume 
july 2014 by asterisk2a
Is This What A Bursting Bubble Looks Like? - YouTube
- bear market, not a 2008/09 decline, more like a lost decade of little productivity growth and very very slow closing of the still existing output gap. - companies benefit form technological progress (accelerating); get more done with less people. +++ https://www.facebook.com/PeterSchiff/posts/10154276062445062
asset  bubble  hunt  for  yield  unintended  consequences  ZIRP  QE  liquidity  trap  NIRP  unconventional  monetary  policy  monetary  policy  Fed  ECB  BOE  BOJ  GFC  recovery  greatdepression  greatrecession  2014  lost  decade  productivity  output  gap  G20  G  Zero  G8  Europe  USA  UK  complexity  unknown  unknowns  Taper  deflation  deflationary  globalisation  globalization  flat  world  working  poor  squeezed  middle  class  middle  class  skill-biased  technological  change  technological  progress  knowledge  worker  knowledge  economy  economic  history  history  faultlines  Structural  Impediments  unemployment  deficit  imbalance  global  imbalances  sovereign  debt  crisis  Super  Cycle  debt  bubble  debt  jubilee  debt  monetization  debt  monetisation  default  demographic  bubble  speculative  bubbles  signal  vs  noise  noise  dysfunctional  marketplace  efficiencies  market  dynamics  market  intervention  financial  market  market  failure  market-failure  lost  generation  lostdecade  lostgeneration  currency  debasement  fiat  currency  fiat  money 
july 2014 by asterisk2a
Live chart: The low countries - YouTube
Timothy Geithner says no risk of U.S. losing it's AAA credit rating - http://youtu.be/0HDCvqgxrrE || Geithner: Japan's 'Lost Decade' Not America's Fate - http://youtu.be/fax8BIPKcP8 "the hope it's gonna heal itself, to hope you can grow yourself out of it" growing your way out of it" || +!!! Timothy Geithner Fired Robert Shiller? http://youtu.be/bIwBEYoSqKY >> economics has no humans in it !!! no real world example. Conventional wisdom so strong. "We've got too scientific." And anybody who is 'flaky' gets pushed out [Robert Schiller]. >>Wenn du dich auf andere verlaesst, bist du verlassen.<< || Robert Shiller: Speculative Asset Prices - http://youtu.be/oBXPOWytDMs "present value". google.co.uk/search?q=present+value+Robert+Schiller || + Robert Shiller: Nobel Prize Winning Economist - http://youtu.be/ABvtKGrIDUs "it can't be an exact science (forecasting) because of the complexity, mass data; uncertain, certain, and data that can't be put in numbers, storystelling -> feedback loops ...
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june 2014 by asterisk2a
Der Crash ist die Lösung | SWR1 Leute - YouTube
banks still TBTF, Systemrelevant. << enabled by Own Lobby influencing Career Politicians. haftungsgarantien von ECB are no more capitalism. +++ &&& +++ If even Germany - Wirtchaftslokomotive - export meister - does still have a budget deficit, while being that country that produces more than it consumes, who else if not Germany? But still doesn't. +++ "Die Zeit der Rendite ist vorbei." +++ Schulden zu haben, man ist nicht frei. Frueher hat man das sich gekauft was man sich leisten konnte, ohne kreditkarte, ohne dispo, ohne bankkredit. +++ NEW crash will come of even bigger proportion and even more rubble to clear up afterwards than 2008/9 - GFC. +++ Always buy in tranches, dispersed over time. +++ fractional reserve banking leads to this UBER crash as we live on a planet with finite resources. Current GDP fetish needs to stop. Change of mind, thinking, course. << this is the same with Mobile Creative, future workforce, Software eats the world, UK's productivity gap.
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june 2014 by asterisk2a
BBC News - UK unemployment total falls to 2.16m, wage inflation to remain low
[threat of wage inflation spiral far off because of multiple underlying factors not allowing it measured wholly across the uk (taking the other country called london out of the picture)] - "Weak pay growth and the 'cost of living crisis' remains the Achilles heel of the economic recovery," said Chris Williamson, chief economist at Markit. "But it should not be long until we see earnings growth accelerate as the labour market continues to tighten. Pay growth should pick up in coming months, perhaps significantly." +++ http://www.telegraph.co.uk/finance/10838393/Bank-of-Englands-slack-approach-leaves-economy-at-risk.html +++ http://www.economist.com/blogs/freeexchange/2014/03/monetary-policy-0 +++ http://youtu.be/fvTdWWUkUNM?t=2m10s
output  gap  slack  in  economy  UK  recovery  greatrecession  greatdepression  2014  2015  inflation  deflation  productivity  deflationary  fiscal  policy  monetary  policy  wage  growth  earnings  growth  austerity  BOE  Mark  Carney  ZIRP  spare  capacity  academia  economic  history  New  Normal  financial  repression  underemployed  underemployment  workforce  labour  market  structural  unemployment  inflation  expectation  wage  inflation  London  wage  inflation  spiral  working  poor  squeezed  middle  class  wage  stagnation  wages  living  wage  minimum  wage  industrial  policy  Why  Software  Is  Eating  the  World  Software  Is  Eating  World  Mobile  Creative  Mobile  Creatives  knowledge  worker  White-collar  Blue-collar  skill-biased  technological  change  capital  skills  skill  skills  practical  skills  practical  skill  set  World  Flat  globalization  globalisation  competitive  advantage  competitive  competitiveness  Competition  comparative-advantage  comparative  advantage  21stcentury  Year  of  Code 
june 2014 by asterisk2a
Kreditklemme trotz EZB-Programmen: Die Banken sind unschuldig - SPIEGEL ONLINE
Milan und Sufi sind nicht die ersten, die auf diese Idee kamen. Richard Koo aus Japan entwickelte schon in den neunziger Jahre die These von einer Bilanz-Rezession. Wenn Länder, Firmen und Haushalte überschuldet sind, dann wollen sie sich einfach nur noch entschulden, egal wie günstig die Kredite sind. Koo warnte davor, dass alle gleichzeitig die Schulden abbauen. In Japan hörte man auf ihn. Dort entschuldeten sich die Firmen und die Haushalte, und es verschuldete sich der Staat. In Europa bauen alle ihre Schulden gleichzeitig ab: Staat, Unternehmen, Haushalte. Koo glaubt daher auch, dass wir in eine weit schlimmere Lage geraten werden als Japan. Wir sind auf Deflation programmiert. Koos Thesen sind plausibel. Sie sind aber keine fundierte ökonomische Analyse. Genau das haben jetzt Milan und Sufi geliefert - zumindest für die USA. Wenn sich diese Ergebnisse auch bei uns bestätigen sollten, dann hieße das: Wir machen in Europa so ziemlich alles falsch.
Richardkoo  Richard  Koo  balance  sheet  recession  Japan  deflation  deflationary  USA  UK  Debt  Super  Cycle  zombie  consumer  zombie  corporations  zombie  banks  economic  history  GFC  sovereign  crisis  consumer  liquidity  trap  ZIRP  QE  monetization  monetisation  monetary  policy  fiscal  policy  creditcrunch  creditcrisis  monetary  transmission  mechanism  service  deleveraging  2014  recovery  greatrecession  greatdepression  Europe  PIGS  Neuverschuldung  Germany  austerity  IMF  book  lost  generation  lost  decade  ECB  BOE  BOJ  Fed 
june 2014 by asterisk2a
Zinsentscheid der EZB: Draghi plant Minus vor Zinssatz - SPIEGEL ONLINE
Schon immer ließ sich das Ende eines Systems besonders schwer erkennen, wenn man Teil des Systems ist. Im Jahre sieben nach Ausbruch der Finanzkrise ist es langsam Zeit für die Frage: Was, wenn die vermeintliche Ausnahme in Wahrheit die Regel ist? Wenn es sich bei der Kombination aus niedrigen Zinsen, niedrigem Wachstum und niedriger Inflation, die weite Teile Europa seit 2008 ebenso im Griff hält wie die USA und Japan, um die neue Normalität handelt? Wenn das seit Jahrzehnten praktizierte westliche Wirtschaftsmodell, sich immer niedrigere Wachstumsraten mit immer höheren Staatsschulden zu erkaufen, an seinem Schlusspunkt angelangt ist? +++ http://bit.ly/SxhnZq "Nicht Europa ist am Ende - sondern der Kapitalismus, so wie wir ihn kennen. [...] Im angelsächsischen Finanzkapitalismus wachsen die Vermögen der Reichen und stagnieren die Einkommen der anderen." [...] [EU Election Result is a vote] gegen das ungerechte Wirtschaftssystem, das ihre Lebensgrundlage gefährdet.
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june 2014 by asterisk2a
Dax knackt 10.000 Punkte: Rekord wegen billigen Gelds von EZB - SPIEGEL ONLINE
Erstmals überspringt der Dax die Marke von 10.000 Punkten. Das beweist erneut, wie sehr der deutsche Leitindex vom billigen Geld der Notenbank abhängig ist - und wie schnell die gute Stimmung an der Börse vorbei sein kann. + http://www.spiegel.de/wirtschaft/unternehmen/dax-steigt-ueber-10-000-punkte-auf-neuen-rekordstand-a-972849.html + http://www.spiegel.de/wirtschaft/unternehmen/geldanlage-bei-niedrigzinsen-gold-immobilien-einen-jaguar-a-973671.html ""Wohin also jetzt mit den Ersparnissen?"" +++ Spekulationsblasen: Wirtschaftsweiser warnt vor Gefahren der Niedrigzinsen - http://www.spiegel.de/wirtschaft/ezb-wirtschaftsweiser-wieland-warnt-vor-spekulationsblasen-a-975400.html +++ Niedrigzinsen: Schäuble befürchtet Immobilienblase in Deutschland - http://www.spiegel.de/wirtschaft/soziales/zinsen-schaeuble-befuerchtet-immobilienblase-in-deutschland-a-976154.html
asset  bubble  Betongold  Beton  Gold  ZIRP  QE  OMT  ECB  BOE  BOJ  Fed  monetary  policy  unconventional  monetary  policy  monetary  stimulus  asset  allocation  property  bubble  London  PIGS  monetary  transmission  mechanism  liquidity  trap  liquidity-trap  zombie  consumer  zombie  corporations  zombie  banks  Europe  sovereign  debt  crisis  Super  Cycle  hunt  for  yield  New  Normal  financial  repression  2014  MarioDraghi  BuBa  Bundesbank  banking  union  unintended  consequences  unknown  unknowns  complexity  macroprudential  policy  Politics  Career  Politicians  policy  folly  policy  error  austerity  fiscal  policy  Structural  Impediments  unemployment  faultlines  imbalance  recovery  greatdepression  greatrecession  lost  decade  lost  generation  speculative  bubbles  equity  bubble  credit  bubble  debt  bubble  bond  bubble  Wolfgang  Schäuble 
june 2014 by asterisk2a
Bond Yields Lowest Since Napoleon Are No Comfort to Europe Amid Deflation Fight - Businessweek
Germany issued 5yr bond with a yield of .45%, last year same type of issue was arount the .3% mark. OUCH, way below inflation. - "" “The outright level of yields is suggesting an incredibly weak outlook for growth,” “It’s a powerful signal telling you policy is too tight and that there’s complacency toward the risks. Not a great deal has been solved. We’ve still got bank stress tests to come, too low growth and too low inflation.” ""
deflation  deflationary  ECB  unconventional  monetary  policy  modern  monetary  theory  monetary  transmission  mechanism  monetary  stimulus  monetary  policy  debt  monetization  debt  monetisation  sovereign  debt  crisis  PIGS  Super  Cycle  faultlines  Structural  Impediments  imbalance  unemployment  long-term  unemployment  youth  unemployment  unemployment  hunt  for  yield  ZIRP  OMT  QE  economic  history  recovery  GFC  greatrecession  greatdepression  2014  MarioDraghi  BuBa  Bundesbank  fiscal  policy  Career  Politicians  Politics  Germany 
june 2014 by asterisk2a
Thomas Piketty: on tour with the 'rock-star economist' -video | Business | theguardian.com
Thomas Piketty. funny thing, at this meeting in min 3. no handshake, no spreading germs. less sick days. ;) ... +++ Faisal Islam on The Default Line - video interview - http://www.theguardian.com/business/video/2013/aug/16/faisal-islam-default-line-video || + Michael Lewis: the stock market is rigged – video interview - http://www.theguardian.com/business/video/2014/apr/30/michael-lewis-the-stock-market-is-rigged-video-interview ||
Thomas  Piketty  Robert  Reich  Book  documentary  Gini  coefficient  post-recession  post-crisis  GVC  greatrecession  greatdepression  recovery  2014  income  inequality  income  mobility  coldprogression  kalte  Progression  social  mobility  low-income  income  growth  income  distribution  tax  free  income  disposable  income  crony  capitalism  greed  Super  Rich  corporate  governance  journalism  journalismus  speculative  bubbles  property  bubble  economic  history  long-term  thinking  accountability  governance  public  policy  policy  error  policy  folly  policy-makers  lostdecade  lostgeneration  long-term  unemployment  underemployed  structural  unemployment  youth  unemployment  unemployment  Europe  USA  UK  sovereign  debt  crisis  democracy  inequality  Faisal  Islam  generational  contract  Environmental  Movement  disaster  Millennials  generationy  babyboomers  HFT  WallStreet  toobigtofail 
may 2014 by asterisk2a
Wie Europa Schulden loswerden kann - SPIEGEL ONLINE
[Rogoff & Reinhart advocating financial repression] [...] [Because Austerity didn't work.] Tatsächlich habe die europäische Wirtschaftspolitik - die Haushaltsdefizite senkt und Strukturreformen für mehr Wachstum durchführt - recht wenig getan, um den Schuldenberg wirklich zu verringern. Die Politik könnte die Last für die nächsten Jahre sogar verschlimmert haben, sagen viele Volkswirte. Die Sparpolitik hat das Wachstum überraschend stark beeinträchtigt. Während die Hinweise darauf, dass die Strukturreformen tatsächlich die Wirtschaft beflügeln, eher überschaubar ausfallen. Stattdessen sinken Einkommen, Gewinne und Steuereinnahmen, was die Schuldenlast immer schwerer erträglich macht.
debt  servicing  sovereign  debt  crisis  consumer  debt  Super  Cycle  Europe  zombie  consumer  zombie  corporations  ZIRP  liquidity-trap  QE  KennethRogoff  liberal  economic  reform  economic  history  MarioDraghi  ECB  unconventional  monetary  policy  monetary  theory  monetary  transmission  mechanism  deflation  deflationary  debtoverhang  balance  sheet  recession  GFC  greatrecession  greatdepression  lostdecade  lostgeneration  youth  unemployment  austerity  IMF  Japan  UK  USA  budget  deficit  France  financial  repression  hunt  for  yield  asset  bubble  speculative  bubbles  New  Normal  PIMCO  Mohamed  El-Erian  debt  jubilee  debt  bubble  debt  monetization  debt  monetisation  debt  restructuring  private  debt  public  debt  household  debt  carmenreinhart  WallStreet  inflation  targeting  inflation  expectation  communication  babyboomers  haircut  PIGS  toobigtofail  TBTF  Richardkoo 
january 2014 by asterisk2a
Wolfgang Münchau: Die Gefahren des Jahres 2014 - SPIEGEL ONLINE
Beide Seiten haben Grund zu Pessimismus. Die strukturkonservative Bundeskanzlerin sieht mit Schrecken, dass Frankreich, Spanien und Italien keineswegs geneigt sind, deutsch zu werden. Euro-föderale Kritiker wie ich sind darüber enttäuscht, dass es weder eine Fiskalunion noch eine echte Bankenunion geben wird. Für uns ist das, was letzte Woche beschlossen wurde, keine Bankenunion, sondern nur ein schlechter Witz. Jedes Land bleibt für seinen eigenen Bankensektor verantwortlich. Das vorrangige ökonomische Ziel, die Risiken von Banken und Staaten zu trennen, ist dahin. Stattdessen ist die Bankenunion nur noch ein komplizierter administrativer Prozess.
Europe  europeanunion  banking  union  banking  crisis  bank  crisis  sovereign  debt  crisis  fiscal  sovereignty  austerity  2013  2014  France  Spain  Italy  liberal  economic  reform  greatrecession  greatdepression  lostdecade  lostgeneration  Japan  economic  history  history  Angela  Merkel  political  folly  political  error  FrancoisHollande  policy  error  policy  folly  ECB  creditcrisis  creditcrunch  M3  monetary  transmission  mechanism  monetary  policy  fiscal  policy  Richardkoo  reflation  deflationary  deflation  inflation  ZIRP  QE  LTRO  unintended  consequences  NIRP  negative  real  interest  rate  unconventional  monetary  policy 
december 2013 by asterisk2a
BBC News - Worrying trends for the UK economy
In other words, the record amount of private debt, which has just reached £1.43 trillion, points to how borrowing has fuelled consumption. As we saw from the crash five years ago when debt was lower than now, debt-fuelled consumption isn't a sustainable or reliable source of growth. [...] Could the UK be facing what the US economist Larry Summers has described as America's "secular stagnation". It's a worry that the ageing population and a slower growth of the labour force mean a slower growing economy.
GFC  greatdepression  greatrecession  UK  2013  economic  history  recovery  austerity  deflationary  deflation  inflation  working  poor  squeezed  middle  class  zombie  consumer  consumer  debt  deleveraging  balance  sheet  recession  output-gap  productivity  larrysummers  stagflation  stagnation  secular  cycle  Japan  lostdecade  lostgeneration  fiscal  policy  monetary  policy  liquidity-trap  spare  capacity 
december 2013 by asterisk2a
BBC News - Autumn Statement: IFS on UK cost of living statistics
More people are in work than in 2007, but incomes have fallen in real terms over that time as costs have generally risen faster than wages.
cost  of  living  greatrecession  purchasing-power  income-growth  greatdepression  GFC  2013  unintended  consequences  inflation  deflation  deflationary  economic  history  UK  working  poor  squeezed  middle  class 
december 2013 by asterisk2a
BBC News - Fears over 40% fall in part-time students
t examines why part-time students have fallen by 40% in two years, equivalent to a reduction of 105,000. There are concerns that such part-time courses are necessary to provide the skills needed by industry. Sir Eric Thomas, who headed the review, said "something is going wrong". There has been widespread recognition of the economic importance of part-time courses in allowing adults to improve their skills.
skills  student  loan  debt  Career  Politicians  employment  squeezed  middle  class  GFC  complexity  StudentLoans  Higher  Education  unintended  consequences  consumer  debt  davidcameron  Bubble  policy  error  greatrecession  policy  folly  debtoverhang  economic  history  working  poor  stagflation  squeezed  middle  UK  income  mobility  austerity  middle  class  Part-Time  Students  household  debt  unknown  unkown  greatdepression  Part-Time  Study  Toff  deleveraging  social  mobility  GeorgeOsborne  studentdebt 
october 2013 by asterisk2a
Spanien: Arbeiten bis zum Umfallen | Europa Aktuell - YouTube
nothing is safe. safety is an illusion. just change the law - and they can use your pension to pay debt off. done everywhere else. Portugal. Ireland. some east-European countries.
Spain  GFC  trust  pension  fund  Debt  Super  Cycle  confidence  pension  obligation  pension  scheme  sovereign  crisis  trustagent  greatdepression  pension  democracy  greatrecession 
october 2013 by asterisk2a
Bubbles, Regulation, and Secular Stagnation - NYTimes.com
In brief, there is a case for believing that the problem of maintaining adequate aggregate demand is going to be very persistent – that we may face something like the “secular stagnation” many economists feared after World War II. [...] The stability of prices and output masked an underlying unsustainable growth in leverage. [...] Our current episode of deleveraging will eventually end, which will shift the IS curve back to the right. But if we have effective financial regulation, as we should, it won’t shift all the way back to where it was before the crisis. Or to put it in plainer English, during the good old days demand was supported by an ever-growing burden of private debt, which we neither can nor should expect to resume; as a result, demand is going to be lower even once the crisis fades. [...] our current situation may well go on much longer than anyone currently imagines.
student  loan  debt  lobby  deregulation  monetary  policy  lobbyist  asset  bubble  modern  monetary  theory  reflation  dual  mandate  fiscal  stimulus  Lobbying  BOE  BOJ  macroeconomics  policy  folly  QE  liquidity  trap  inflation  targeting  fiscal  policy  UK  debt  bubble  political  error  paulkrugman  austerity  unknown  unkown  greatdepression  nominal  GDP  targeting  dis-inflation  deleveraging  regulation  economics  public  debt  secular  stagnation  inflation  private  debt  balance  sheet  recession  mandate  debt  jubilee  GFC  complexity  excess  monetary  theory  unintended  consequences  consumer  debt  liquidity-trap  political  folly  WWII  lostdecade  greatrecession  policy  error  regulators  debtoverhang  Wicksellian  natural  interest  rate  NIRP  Fed  microeconomics  economic  history  Super  Cycle  stagflation  Great  Moderation  leverage  stagnation  sovereign  debt  crisis  recovery  ZIRP  USA  household  debt  fiscal  theory  Japan  fiscal  deficit 
september 2013 by asterisk2a
PIMCO Mohamed El-Erian nonfarm payroll labor market 23 September 2013 | ForexLive
But – these headline numbers are not the full picture, there is much detail in the report that paints a much more sobering view: [...] Taken together, “rather than confirming the paradigm of gradual and steady improvement, these disaggregated numbers attest to a highly segmented, multi-speed labor market – one with features that could become more deeply embedded in the structure of the economy” http://www.project-syndicate.org/commentary/the-downside-of-us-labor-market-data-by-mohamed-a--el-erian
microeconomic  policy  unemployment  2013  monetary  policy  Fed  communication  microeconomics  GFC  complexity  economic  history  NFP  working  poor  stagflation  recovery  babyboomers  USA  Taper  participation  rate  barackobama  greatdepression  WallStreet  long-term  unemployment  presidency  greatrecession 
september 2013 by asterisk2a
Five Years After Lehman, BIS Ex-Chief Economist Warns "It's Worse This Time" | Zero Hedge
The share of "leveraged loans" or extreme forms of credit risk, used by the poorest corporate borrowers, has soared to an all-time high of 45% - 10 percentage points higher than at the peak of the crisis in 2007. + http://www.zerohedge.com/news/2013-09-14/record-high-grade-leverage-means-pik-toggle-lbo-debt-back-and-worse-ever // The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over www.zerohedge.com/news/2013-06-23/bank-international-settlements-warns-monetary-kool-aid-party-over ""central banks must head for the exit and stop trying to spur a global economic recovery... cheap and plentiful central bank money had merely bought time, warning that more bond buying would retard the global economy’s return to health by delaying adjustments to governments’ and households’ balance sheets." http://www.telegraph.co.uk/finance/10310598/BIS-veteran-says-global-credit-excess-worse-than-pre-Lehman.html
unemployment  employment  monetary  policy  Mark  Carney  ope  reflation  zombie  banks  monetary  transmission  mechanism  BOE  banking  crisis  carmenreinhart  BOJ  LBO  balancesheet  policy  folly  QE  liquidity  2013  fiscal  policy  UK  debt  monetisation  political  error  unknown  unkown  greatdepression  zombie  consumer  deleveraging  debt  monetization  Richardkoo  centralbanks  liberal  economic  reform  faultlines  GFC  monetary  theory  exuberance  MarioDraghi  unintended  consequences  global  economy  monetary  stimulus  Help  to  Buy  Scheme  liquidity-trap  zombie  corporations  ECB  monetary  system  political  folly  benbernanke  bank  crisis  Abenomics  rebalancing  China  greatrecession  policy  error  productivity  LTRO  NIRP  OMT  Fed  communication  economic  history  Super  Cycle  stagflation  leverage  KennethRogoff  sovereign  debt  crisis  recovery  unconventional  monetary  policy  ZIRP  USA  BIS  POMO  Funding  for  Lending  Scheme  corporate  governance  fiscal  deficit 
september 2013 by asterisk2a
Reuters Breakingviews: Beware the "blinkered" Fed - YouTube
Fed policy / theory goes along the line that you can ignore rising and falling asset prices (bubbles) that come and go according with your policy actions.
unemployment  monetary  policy  complexity  asset  bubble  monetary  theory  reflation  unintended  consequences  rebalancing  greatrecession  QE  NIRP  2013  communication  Fed  short-term  thinking  economic  history  stagflation  structural  imbalance  recovery  ZIRP  Taper  USA  greatdepression  WallStreet  inflation  faultlines 
september 2013 by asterisk2a
Carney: BOE to consider more stimulus if financial conditions tighten or recovery risks falling short | ForexLive
http://www.bankofengland.co.uk/publications/Documents/speeches/2013/speech675.pdf >> Comments from Bank of England Governor Mark Carney: Upward move in market expectations of BOE rates could, at margin, affect real economy BOE’s forward guidance was clear that we would provide more stimulus if necessary Signs are the UK recovery is broad based, set to continue Period of growth needed to begin to reduce space capacity meaningfully Depressed output, temporary inflation factors mean it is right to bring inflation back to target more slowly Nobody should assume 7% unemployment is trigger for rate hike Unemployment must be at least 7% for hike BOE to reduce required liquid asset holdings for major banks meeting 7% capital thresholds Acutely aware of unsustainable credit and house price growth, will monitor it closely
QE  ZIRP  NIRP  BOE  2013  greatdepression  monetary  policy  communication  Mark  Carney  UK  greatrecession  forward  guidance 
august 2013 by asterisk2a
Silly Season news | ForexLive
Put bluntly, we now have a potentially dangerous financial structure which encourages borrowing, and discourages saving. The rush to create growth has thrown to one side any inflation concerns - for now. BUT there will be an election in 2015 – at the latest. Should the forward guidance prove accurate, we will enter the build up to that election with continued low interest rates, rising house prices and a positive growth outlook – fertile ground for a Conservative Party overall majority. HOWEVER, should inflation or employment become at odds with the strategy, Mr Carney may be under a lot of pressure to prove his neutrality by tightening in the run up to that election – and as I know, what is least convenient is likely to happen…. + http://www.forexlive.com/blog/2013/08/12/uk-home-buyers-boost-purchases/ - Debt Fueled Recovery.
QE  NIRP  unemployment  monetary  policy  Mark  Carney  Debt  Super  Cycle  property  bubble  stagflation  UK  unintended  consequences  Help  to  Buy  Scheme  ZIRP  austerity  davidcameron  BOE  greatdepression  MPC  zombie  consumer  inflation  Funding  for  Lending  Scheme  GeorgeOsborne  greatrecession 
august 2013 by asterisk2a
BBC News - UK wages decline among worst in Europe
The money left over at the end of each month is getting less and less because our salaries have been flatlining while shopping, petrol and energy bills have been rising steadily. [...] Clamping down on inflation, which has been above its 2% target for four years, doesn't appear to be a priority for the new regime at the Bank of England. Mark Carney et al say they will tolerate it above target until unemployment falls below 7%. The tolerance of voters might be tested in the interim as their spending power continues to get eroded.
2013  monetary  policy  economic  history  Mark  Carney  fiscal  policy  working  poor  stagflation  UK  austerity  BOE  greatdepression  inflation  greatrecession 
august 2013 by asterisk2a
Weltwirtschaftfonds warnt Deutschland vor hartem Sparkurs - SPIEGEL ONLINE
Mit dem Sparen kann man es auch übertreiben: Das ist eine Kernbotschaft des neuen IWF-Berichts über die Lage in Deutschland. Um die heimische Wirtschaft zu stärken, empfiehlt der Fonds auch Lohnerhöhungen. >> http://www.spiegel.de/wirtschaft/soziales/iwf-frankreich-soll-weniger-sparen-a-914953.html
France  debtoverhang  austerity  2013  economic  history  Debt  Super  Cycle  Europe  IWF  lostdecade  greatrecession  sovereign  crisis  IMF 
august 2013 by asterisk2a
Breakingviews: Don't sink the pound, Governor Carney! - YouTube
UK inflation rises less than expected in June, but still jumps to its highest level in over a year. With prices rising faster than wages, the new BoE Governor Mark Carney mustn't push down the pound.
currency  debasement  monetary  policy  consumer  squeeze  currency  war  Mark  Carney  modern  monetary  theory  monetary  transmission  mechanism  liquidity-trap  BOE  deflation  greatrecession  QE  NIRP  2013  UK  recovery  unconventional  monetary  policy  austerity  ZIRP  greatdepression  sticky  wages  zombie  consumer  wage  inflation  inflation  GeorgeOsborne 
july 2013 by asterisk2a
Wolfgang Münchau über die Zinspolitik der EZB - SPIEGEL ONLINE
Aber am Ende ist das alles Haarspalterei. Es läuft auf dasselbe Ergebnis hinaus: Die Zinsen werden lange bei null bleiben, wahrscheinlich über mehrere Jahre. Solange es keine Anzeichen für eine dauerhaft steigende Inflation gibt - und die wird es auf absehbare Zeit nicht geben - solange wird sich dieser Ausblick nicht ändern. [...] Es besteht ein klarer Zusammenhang zwischen Geldmenge und den Preisen für Wertpapiere. [...] Es besteht die akute Gefahr, dass ähnlich wie in Japan vor zwanzig Jahren die Geldpolitik nicht greift, solange der Bankensektor so krank ist.
Greece  monetary  policy  JörgAsmussen  bond  bubble  incentive  asset  bubble  Europe  zombie  banks  monetary  transmission  mechanism  sentiment  BOE  banking  crisis  deflation  QE  PIGS  debt  monetisation  greatdepression  zombie  consumer  dis-inflation  deleveraging  asset  allocation  inflation  debt  monetization  balance  sheet  recession  Spain  GFC  capital  allocation  MarioDraghi  unintended  consequences  liquidity-trap  banking  union  negative  real  interest  rate  ECB  bank  crisis  greatrecession  debtoverhang  LTRO  OMT  NIRP  communication  Fed  trust  economic  history  Super  Cycle  confidence  sovereign  debt  crisis  monetarism  unconventional  monetary  policy  ZIRP  Jens  Weidmann 
july 2013 by asterisk2a
What The ECB's "Unprecedented" Forward Guidance Means | Zero Hedge
Europe struck in credit crisis - liquidity trap. & other problems - Politics / Brussels - one to mention. >> "The move clearly marks an innovative step in the ECB's communication and policy strategy for a bank that previously had always refused to pre-commit on interest rates." >> Problem is - ECB will have it hard to maneuver out of the measures, end schemes, etc. "Monetary Policy is no Panacea." Ben Bernanke. + >> http://www.zerohedge.com/news/2013-07-04/diminishing-effects-qe-programs
unemployment  monetary  policy  modern  monetary  theory  Europe  M3  zombie  banks  monetary  transmission  mechanism  banking  crisis  Structural  Impediments  creditcrisis  QE  PIGS  debt  monetisation  imbalance  political  error  creditcrunch  forward  guidance  trustagent  austerity  Taper  greatdepression  zombie  consumer  deleveraging  debt  monetization  balance  sheet  recession  Politics  PIIGSFB  GFC  MarioDraghi  output-gap  European  Commission  Euro  liquidity-trap  Troika  ECB  monetary  system  political  folly  bank  crisis  greatrecession  debtoverhang  OMT  NIRP  communication  trust  economic  history  Super  Cycle  confidence  sovereign  debt  crisis  unconventional  monetary  policy  escape  velocity  ZIRP  PIIGS  Germany 
july 2013 by asterisk2a
Mark Carney wastes no time in stamping his authority - Telegraph
Osborne fiscal plan of austerity till 2015/16 Rates don't go up beyond 2015 If market rates go up and make it more expensive for gov to borrow during tough times - will do QE - artificially lower the price again. >>> "Carney’s “not warranted” comment was tantamount to saying he expects rates to remain at 0.5pc until at least 2015. The vogue for “communication” is catching. In Australia, the central bank governor, Glenn Stevens, demonstrated how not to do it, after a “joke” backfired earlier this week, crashing the currency until his deputy calmed things down. [...] At the European Central Bank, president Mario Draghi was more successful. In a break with protocol, he said rates would be at current or lower levels “for an extended period of time”, delighting stock markets on the continent as they interpreted it to mean 2016 at the earliest."
currency  debasement  unemployment  monetary  policy  currency  war  Mark  Carney  modern  monetary  theory  Europe  MarioDraghi  output-gap  foreignexchange  BOE  ECB  benbernanke  greatrecession  QE  NIRP  2013  Fed  communication  PIGS  UK  debt  monetisation  sovereign  debt  crisis  youth  unemployment  forward  guidance  unconventional  monetary  policy  austerity  ZIRP  participation  rate  Taper  PIIGS  greatdepression  deleveraging  RBA  GeorgeOsborne  debt  monetization  centralbanks  balance  sheet  recession 
july 2013 by asterisk2a
What's Next For Portugal? | Zero Hedge
The Portuguese economy cannot afford further delays Under the optimistic scenario forecast by the EU/IMF/ECB Troika, Portuguese debt is still expected to peak at 124% of GDP in 2014. Any delays will likely see this rise quickly, especially with growth already underperforming. Portuguese ten year borrowing costs have already shot up a staggering 1.5% since Gaspar’s resignation, reaching close to 8%. This highlights the fragility of the economic situation. Only a month ago, there was widespread talk of Portugal returning to the markets ahead of schedule – now it is difficult to see how it will exit its bailout programme in spring 2014 without any further assistance (the ECB’s bond buying programme, the OMT, still remains the most likely candidate).
Portugal  debtoverhang  OMT  2013  PIGS  Europe  European  Commission  sovereign  debt  crisis  bail-in  austerity  Troika  PIIGS  greatdepression  ECB  policy  error  greatrecession  policy  folly  bailout 
july 2013 by asterisk2a
Breaking Bad Habits by Stephen S. Roach - Project Syndicate
Unable to facilitate balance-sheet repair or stimulate real economic activity, QE has, instead, become a dangerous source of instability in global financial markets. [...] There is good reason to believe that China’s new leaders are now determined to wean the economy off ever-mounting (and destabilizing) debt – especially in its rapidly expanding “shadow banking” system. [...] Financial markets are having a hard time coming to grips with the new policy mindset in the world’s two largest economies. [...] Breaking bad habits is hardly a painless experience for liquidity-addicted investors.
monetary  policy  GFC  unintended  consequences  New  Normal  monetary  transmission  mechanism  banking  crisis  monetary  system  addiction  benbernanke  bank  crisis  creditcrisis  greatrecession  China  QE  NIRP  2013  Fed  Greenspan-Put  alangreenspan  shadowbanking  financial  repression  stephenroach  creditcrunch  bubble  ZIRP  Taper  USA  greatdepression  deleveraging  toobigtofail  PBOC  balance  sheet  recession 
july 2013 by asterisk2a
Schwache Wirtschaft: Frankreich gerät in die Rezession - SPIEGEL ONLINE
Belastet wurde die Wirtschaftsentwicklung im Quartalsvergleich vor allem durch gesunkene Investitionen und geringere private Haushaltsausgaben. Zudem fielen die Exporte, während die Importe stiegen. Gestützt wurde das Bruttoinlandsprodukt lediglich durch gestiegene Staatsausgaben. Diese Stütze für die Konjunktur könnte aber auch bald ausfallen: Frankreichs Regierung will 2014 zum ersten Mal seit mehr als 50 Jahren weniger ausgeben als im laufenden Jahr.
2013  recession  trust  stagflation  Europe  confidence  structural  imbalance  France  austerity  greatdepression  competitiveness  Impediments  faultlines  liberal  economic  reform  greatrecession 
june 2013 by asterisk2a
UK banking shortfall mostly patched up | ForexLive
The FT is out with a sensational headline saying ‘PRA to expose £26bn bank funding gap’ but the details of the story show that the numbers don’t account for measures already taken this year or are scheduled over the next 18 months. The Royal Bank of Scotland, Lloyds and Barclays account for 90% of the shortfall but each has only about £1-2bn more to raise.
liquidity  debtoverhang  trust  GFC  UK  confidence  RBS  creditcrunch  capital  Lloyds  trustagent  liquid  assets  greatdepression  banking  crisis  deleveraging  Barclays  bank  crisis  creditcrisis  Funding  for  Lending  Scheme  greatrecession  balance  sheet  recession 
june 2013 by asterisk2a
www.bankofengland.co.uk/publications/Documents/speeches/2013/speech670.pdf
UK’s King Last Speech: UK needs more Bank of England stimulus as recovery is not assured. >> UK's future still uncertain. Reflective in Cable (GBPUSD). While others do much better. >> "Despite this encouraging picture, growth is not yet strong enough to reduce the considerable margin of spare capacity in the economy. Nor is recovery at an adequate rate fully assured. The weakness of the euro area and the problems of the UK banking system continue to act as a drag on growth. So the need to support the recovery remains. [...] unemployment remains unnecessarily high. [...] Both nominal and real interest rates are at unsustainably low levels. There is an understandable yearning for a return to normality [...] Monetary policy cannot provide the answer. [... Banking > ...] It is insufficient capital that restricts lending [+ holding not enough liquid assets]. And, without a resilient banking system, it will be difficult to sustain a recovery."
unemployment  monetary  policy  currency  war  Mark  Carney  reflation  zombie  banks  capital  monetary  transmission  mechanism  BOE  banking  crisis  Structural  Impediments  creditcrisis  Discount  Window  Facility  policy  folly  Recapitalisation  liquidity  QE  price  stability  inflation  targeting  fiscal  policy  UK  debt  monetisation  devaluation  political  error  imbalance  creditcrunch  Recapitalization  trustagent  hunt  for  yield  austerity  greatdepression  zombie  consumer  deleveraging  global  imbalances  inflation  debt  monetization  governance  balance  sheet  recession  Leverage  GFC  complexity  output-gap  unintended  consequences  liquidity-trap  debt  restructuring  monetary  system  too  big  to  jail  political  folly  bank  crisis  greatrecession  policy  error  debtoverhang  Special  Scheme  NIRP  trust  economic  history  confidence  youth  unemployment  unconventional  monetary  policy  ZIRP  MervynKing  toobigtofail  Funding  for  Lending  Scheme  corporate  governance 
june 2013 by asterisk2a
Fotos von Kilian Foerster: Spaniens verlorene Generation - SPIEGEL ONLINE
Keine Arbeit, keine Perspektive, keine Hoffnung - in Spanien wächst die Generación Cero heran. Der Fotograf Kilian Foerster hat Jugendliche in Madrid fotografiert, die unter den Folgen der Wirtschaftskrise leiden.
austerity  greatdepression  2013  society  GFC  lostgeneration  Spain  human  tragedy  property  bubble  Generación  Cero  greatrecession  youth  unemployment 
june 2013 by asterisk2a
IMF Admits Mistakes on Greece Bailout - WSJ.com
"The International Monetary Fund is set to admit to major missteps over the past three years in its handling of the bailout of Greece, the first spark in a debt crisis that spread across Europe." > http://www.zerohedge.com/news/2013-06-05/imf-admits-it-idiot-and-liar "" The greater beneficiary of the 2010 bailout wasn't so much Greece as the wider euro-zone, the document suggested. It described the rescue as a "holding operation" that "gave the euro area time to build a firewall to protect other vulnerable members and averted potentially severe effects on the global economy." "" >> + http://www.spiegel.de/wirtschaft/oecd-und-eu-kommission-gegen-euro-sparpolitik-und-fuer-mehr-inflation-a-903575.html
monetary  policy  Politics  GFC  monetary  theory  Europe  accountability  accounting  European  Commission  GoldmanSachs  Euro  Troika  Brussels  ECB  political  folly  policy  error  greatrecession  policy  folly  debtoverhang  ChristineLagarde  trust  economic  history  fiscal  policy  Debt  Super  Cycle  confidence  political  error  sovereign  crisis  trustagent  austerity  PIIGS  fiscal  theory  greatdepression  balance  sheet  recession  IMF  bailout 
june 2013 by asterisk2a
Mark Carney benefited more from Canada than Canada benefited from him - a scathing farewell | ForexLive
>> Central Bankers and Policy makers were on the back foot very much. [...] "Carney hit the panic button like every other central banker after Lehman collapsed. Even then, he didn’t hit it hard enough until December when the global economy was on its knees. Rates didn’t bottom until late April 2009 — more than a month after Bernanke proclaimed ‘green shoots’ in the US economy."
lehmanbrothers  monetary  policy  Fed  GFC  Mark  Carney  economic  history  benbernake  UK  BOE  greatdepression  Canada  MervynKing  BOC  centralbanks  greatrecession 
may 2013 by asterisk2a
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