asterisk2a + macroeconomic   99

The Bank of England is in denial. Brexit shows people don't act rationally | Robert Skidelsky | Business | The Guardian
Our models of quantifiable risk fail when faced with radical uncertainty. // retail spending binge post brexit and in run-up. // The challenge is to develop macroeconomic models that can work in stormy conditions: models that incorporate radical uncertainty and therefore a high degree of unpredictability in human behaviour. [...] Keynes, for his part, didn’t think this way at all. He wanted an economics that would give full scope for judgment, enriched not only by mathematics and statistics, but also by ethics, philosophy, politics, and history – subjects dropped from contemporary economists’ training, leaving a mathematical and computational skeleton. To offer meaningful descriptions of the world, economists, he often said, must be well educated.
Brexit  UK  consumer  debt  household  credit  card  mortgage  BOE  Austerity  Consumerism  materialism  behaviour  Economics  Economy  rational  book  irrational  living  standard  savings  wage  growth  income  mobility  macroeconomic  forecast  Keynes  history 
february 2017 by asterisk2a
Stocks are up. But it appears to us that the U.S. economy is going down. Go figure.
velocity is at 57yr low - WOW! the money that is in circulation is in less hands! the econ expanded according to GDP, but less and less $ reach on avg each hand. - "This is serious. The velocity of money tracks how often each dollar is used to buy something in the economy. Falling velocity shows that consumers and business are pulling back… becoming more reluctant to spend and invest… downsizing… and holding onto dollars rather than spending them. This has a similar effect as reducing the supply of money bidding for goods and services. Prices drop. Deflation, in other words. The bubble has developed a leak. The hot air is gushing out." //&! bit.ly/1MOxc9A //&! research.stlouisfed.org/fred2/series/M2V &! pieria.co.uk/articles/getting_things_wrong_federal_reserve_style - it is associated with stagnant NGDP [...] demand problem.
monetary  velocity  liquidity  trap  Richard  Koo  nominal  GDP  targeting  GDP  measurement  GDP  recovery  reflate  reflation  economic  history  money  supply  Fed  fiscal  policy  monetary  policy  Gini  coefficient  inequality  economic  harm  economic  damage  GFC  crony  capitalism  shareholder  capitalism  Greed  profit  maximisation  profit  maximization  squeezed  middle  class  Elizabeth  Warren  Joseph  Stiglitz  Paul  Krugman  Robert  Reich  Thomas  Piketty  2016  UK  USA  secular  stagnation  Pact  fiscal  stimulus  austerity  Schuldenbremse  social  mobility  income  mobility  working  poor  Precariat  low  pay  low  income  Service  Sector  Jobs  Zero  Hour  Contract  Contractor  self-employment  inflation  targeting  microeconomic  policy  macroeconomic  policy  Super  Rich  1%  plutocracy  oligarchy  capitalism  capitalism  in  crisis  self-regulation  book  shareholder  value  Wall  Street  meritocracy  meritocratic  post-racial  America  barackobama  Larry  Summers  Bernie  Sanders  Establishment  Privileged  deregulation  bank  bailout  social  safety  net  welfare  state  aggregate  demand 
april 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
The economics of Brexit – Politics Weekly podcast
Leave Campaign, so far, has failed to assure voters that we get through the quiet possible tubulences and uncertainty unharmed severely after 1-2 years. [ economic forecasts/predictions are Wall Streets cottage industry ] Brexit for sure would throw Osbornes plan for a surplus in 2020. ... brexit is about less regulation free trade low tariffs, 'get off the back of our City [London bank regulation]' [low tax, higher pay] George Osborne ... // banks have not voiced their voice loudly because that would be seen by people who bailed them out to tune of doubling the deficit, and still own bank shares ie loyds. it could be seen disingenuous, outrageous, as we are still in doldrums, paying off their debt, and suffering through austerity where the most vulnerable are cut away from society.
Brexit  George  Osborne  economic  damage  economic  growth  economic  security  economic  slack  economic  slowdown  economic  harm  macroeconomic  policy  microeconomic  policy  trade  agreement  free  trade  regulation  David  Cameron  Whitehall  Westminster  economic  forecast  Wall  Street  European  Union  Career  Politicians  EEA  free  movement  of  people  immigration  migration  austerity  general  election  2020  general  election  2015  Tories  Conservative  Party  nasty  neoclassical  economics  neoliberal  neoliberalism  Chicago  School  trickle-down  economics  self-regulation  deregulation  regulators  MervynKing  Mark  Carney  BOE  IMF  retail  banking  investment  banking  City  of  London  bank  bailout  GFC 
april 2016 by asterisk2a
Pascal Lamy: Gove is 'pie in the sky' on Brexit - BBC Newsnight
Trade w europe may be currently shrinking (eu 'crisis'), but how much negotiation lever do you have as UK vs Europe (one single market/consumer!?) That is what Daniel Hannan does not highlight, the leverage of size to access, in negotiations with other countries. [...] 'trade negotiations are so long because they are so tough' [...] what will the UK have to give up, to gain access to foreign markets for their measly 20% of the whole economy (production, ie also house building, not just export/manufacturing)!? (2015, 80% of UK GDP growth consisted of consumption). Competing with much more competitive industry now! ( ie Cars. Ford's new plant in Mexico/Latin America ...) [...] "You can not exit and keep the benefits while you were in!" //&! >> What kind of trade deal could we get if we left the EU? - youtu.be/Pj9nPncM61M &! youtu.be/r8MiUI2eN6c
Brexit  free  trade  trade  agreement  TTIP  TTP  CETA  NAFTA  FDI  foreign  direct  investment  trade  deficit  current  account  deficit  Manufacturing  industrial  policy  policy  folly  policy  error  energy  policy  Steel  Industry  Steel  Crisis  competition  competitive  competitiveness  competitive  advantage  comparative  advantage  macroeconomic  policy  microeconomic  policy 
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
Workers or Shirkers? Ian Hislop's Victorian Benefits
An entertaining, provocative film in which Ian explores the colourful history behind one of the most explosive issues of our times - welfare: who deserves to be helped, and who doesn't. [... ] all hate, no heart. just spreadsheets. at Whitehall, no 11. [...] Benefit Street = victorian freak show/circus of curiosities [...] writing about others, "othering" them. demonising them or putting them on pedestals, making them saints. [...] IDS "a single mother wo aspiration is a product of the system" would correct that, a product of her environment (society) [ie gentrification - poor living w poor door to door. and everyone is looking down on them.].
Universal  Basic  Income  class  warfare  poverty  trap  child  poverty  tax  credit  tax  free  austerity  DWP  Iain  Duncan  Smith  ESA  JSA  WCA  Disabled  vulnerable  mental  health  civil  society  Gesellschaft  Gesellschaftswerte  substance  abuse  self-medication  deprivation  structural  unemployment  poverty  drug  addiction  drug  abuse  Public  Services  Social  Services  NHS  sick  population  capitalism  Soziale  Marktwirtschaft  Soziale  Gerechtigkeit  society  moral  beliefs  ethics  philosophy  Universal  working  poor  low  pay  low  Precariat  precarious  work  mobility  mobility  education  policy  Gini  coefficient  economic  history  Super  Rich  1%  Establishment  Privileged  Toff  No  Representation  Career  Politicians  squeezed  middle  class  class-warfare  Sozialpolitik  Integrationspolitik  immigration  migration  UK  microeconomic  policy  macroeconomic  policy  meritocracy  meritocratic  stigma  Food  Bank  crony  capitalism  bailout  corporate  welfare  tax  evasion  tax  amnesty  tax  avoidance  shareholder  capitalism  lobby  revolving  door  ladder  Service  Sector  Jobs  aggregate  demand  fairness  Zero  Hour  Contract  part-time  incentive  self-employment  Contractor  working  class  Trade  Union  neoliberal  neoliberalism  Workers  Rights  Workers  Union  economic  justice  economic  tax  welfare  welfare  poverty  education  oppo 
april 2016 by asterisk2a
Yanis Varoufakis: »MONEY AND POWER«, Public Lecture 2015-11-04
3rd bailout loan $0 went to Greece. All to pay off banks. extend & pretend. 1st: ~90% went to the banks. [...] ESM does not exist [...] banking union plan not progressing at all. //&! Yanis Varoufakis @Oxford Union - youtu.be/zWB6lY2GBjQ - ACADEMIA LACKS ANTI-ESTABLISHMENT ATTITUDE! Because going against the grain has become anti-reputation. [...] it's all about expectations, predictions about where S&P500 will be in 12 months. [...] regression between theory and reality. economists have never been humble. [ see Wall Street cottage factory of analysis and prediction shops ] [...] if you torture the data and model enough it will confess. [< EU monetary union based on theory ] [...] [34:00] Brussels is technically incompetent and will not reform itself. I am a libertarian marxist. Schumpeter. true creative destruction. great wealth currently created - all going to 1%. = not humanitarian. not democratic. [...] 41:00 Q&A, <48:50> gov budget not same as household budget; George Osborne.
bank  crisis  banking  crisis  European  Election  2014  sovereign  debt  crisis  austerity  Grexit  Yanis  Varoufakis  Tsipras  Syriza  Brussels  Wolfgang  Schäuble  Angela  Merkel  GFC  Great  Depression  credit  crisis  credit  creation  Super  Cycle  debt  overhang  liquidity  trap  ECB  Troika  MarioDraghi  economic  history  Richard  Koo  leverage  recovery  deflation  deflationary  Fiscal  Pact  Schuldenbremse  Germany  underinvestment  Super  Rich  reflate  reflation  Generationengerechtigkeit  1%  oligarchy  plutocracy  No  Representation  Career  Politicians  balance  sheet  recession  Euro  Gold  Standard  ESM  IMF  OECD  banking  union  EEA  Economics  Academia  Academics  Economists  Scholars  Soziale  Marktwirtschaft  income  distribution  inequality  Gini  coefficient  Gesellschaft  society  Yanis  Varoufakis  financial  crisis  economic  model  econometrics  social  theory  monetary  union  Chicago  School  poverty  economic  history  austerity  George  Osborne  David  Cameron  UK  nasty  party  Richard  Koo  macroeconomics  macroeconomic  policy  macroprudential  policy  aggregate  demand  Capital  Expenditure  income  tax  receipts  deflation  deflationary  Universal  Basic  class  warfare 
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
Sustainability or Prosperity? Why Not Both? | PolicyCast
describes the rapidly growing field of sustainability science, which combines a variety of disciplines in both the hard and social sciences to find paths towards a sustainable future. //&! Book Pursuing Sustainability: A Guide to the Science and Practice – (2016) by Pamela Matson, William C. Clark, Krister Andersson. //&! http://www.hks.harvard.edu/news-events/publications/insight/international/william-clark &! https://scholar.google.co.uk/citations?user=LkLCmQwAAAAJ&hl=en &! http://earthsky.org/human-world/william-c-clark-defines-sustainable-development &! Jeffrey Sachs - Global Cooperation and Sustainable Development - youtu.be/cRWtRh3yLI0 &! "Common Wealth: Economics for a Crowded Planet." - youtu.be/n3kzzVP2c7w &! Jeffrey Sachs: "The Price of Civilization" - youtu.be/_G6SYmQ0swg - profoundly underestimated globalization's long-term effects: jobs, incomes, poverty, and the environment.
sustainability  sustainable  macroeconomic  policy  microeconomic  policy  underinvestment  public  health  global  warming  economic  damage  GDP  Generationengerechtigkeit  fairness  extreme  weather  weather  extreme  unknown  unknowns  unintended  consequences  crony  capitalism  shareholder  capitalism  Wall  Street  No  Representation  Career  Politicians  air  pollution  water  pollution  noise  pollution  pollution  mass  extinction  ecological  damage  environmental  damage  livestock  farming  industrial  agriculture  policy  folly  short-term  thinking  short-termism  short-term  view  social  value  policy  error  ecological  footprint  carbonfootprint  deforestation  soil  erosion  climate  change  climate  crisis  book  society  Wertegesellschaft  Wegwerfgesellschaft  Jeffrey  Sachs  Movement  environmental  disaster  environment  environmentalism  resource  depletion  finite  resources  Pesticides  fungicide  herbicide  colony  collapse  disorder  Great  Pacific  Garbage  Patch  Great  Barrier  Reef  drought  Ozone  politician  Fossil  fuel  industry  Food  Politics  carbon  tax  COP21  planning  law  building  code  renewable  energy  energy  policy 
april 2016 by asterisk2a
Keiser Report: Sovietization of capitalism (E723) - YouTube
BIS 100% of private debt and finance sector larger than 3.9% of economy bad ... and siphoning off talent from more productive fields of work. And finance favours lending to property and land (low productivity). [...] financial products (derivatives) do not help economy. is just a financial product, fee collection. rentier! rent-seeking behaviour! fees fees fees. (JP Morgan, 89% of profits, see interview) [...] QE reflated asset prices/share prices! // In the second half, Max interviews David Graeber about his new book, The Utopia of Rules: On Technology, Stupidity and the Secret Joys of Bureaucracy.
private  debt  consumer  debt  household  debt  BIS  Wall  Street  recovery  zombie  banks  car  loan  credit  card  debt  student  loan  debt  student  loan  Bubble  student  debt  economic  history  GFC  secular  stagnation  UK  City  of  London  USA  investment  banking  retail  banking  BOE  Fed  macroeconomic  policy  microeconomic  policy  property  speculative  bubbles  speculative  speculation  productivity  output  gap  austerity  George  Osborne  dogma  ideology  constituency  Party  Funding  vested  interest  interest  groups  mortgage  market  Housing  Crisis  Help  to  Buy  Scheme  Help  to  Save  Funding  for  Lending  Scheme  Right  to  Buy  Buy-to-Let  subsidies  subsidizing  derivatives  financial  product  rent-seeking  rentier  QE  ZIRP  NIRP  reflate  reflation  Mark  Carney  fiscal  policy  monetary  policy  Richard  Koo  book  David  Graeber  MervynKing 
march 2016 by asterisk2a
George Osborne warns of further spending cuts in Budget - BBC News
[ LOL! ] But recent figures showing the UK economy was smaller than expected meant savings must be found in his Budget statement on 17 March, he said. [...] Mr Osborne said he would rather look for extra cuts now than risk breaking his own manifesto commitment to achieve a surplus in the budget by the end of this Parliament. The chancellor did not completely rule out raising taxes in the event of a further slowdown in growth, but said that now was not the time for "significant" tax hikes. [...] I'm absolutely clear we've got to root our country in the principle that we live within our means and that we have economic security." [...] "whole purpose of our economic plan was to have a budget surplus. [...] we got big challenges at home to make the economy more productive even as more people get work. [ because having part of your budget in the property bubble is so productive ] [...] I will do what is required to keep our country safe and secure." [ NOT CHANGING PLANS ie U-TURN ]
UK  secular  stagnation  austerity  Richard  Koo  Japan  economic  history  dogma  ideology  IMF  OECD  ChristineLagarde  economists  Paul  Krugman  Joseph  Stiglitz  Robert  Reich  David  Cameron  Tories  nasty  party  recovery  aggregate  demand  Conservative  macroeconomic  policy  microeconomic  policy  fiscal  policy  monetary  policy  Mark  Carney  BOE  City  of  London  HMRC  tax  evasion  tax  avoidance  self-employment  corporate  tax  rate  Service  Sector  Jobs  working  poor  multiplier  precarious  work  Precariat  low  pay  low  income  tax  credit  housing  benefit  income-based  JSA  Zero  Hour  Contract  Contractor  wage  stagnation  stagnation  DWP  Iain  Duncan  Smith  skills  gap  STEM  productivity  output  gap  Manufacturing  industrial  policy  neoliberalism  neoliberal  trickle-down  economics  Chicago  School  JohnMaynardKeynes  keynes  Keynesianism  Pact  Schuldenbremse  Wolfgang  Schäuble  Angela  Merkel  European  Union  property  bubble  apprenticeships  value  creation  added  value  underinvestment  productive  investment  infrastructure  investment  competitiveness  marginal  cost  energy  price  energy  policy  Hinkley  Point  C  nuclear  power  nuclear  waste  subsidies  subsidizing  corporate  welfare  lobbyist  lobby  Lobbyin 
february 2016 by asterisk2a
Five issues that will shape the Northern Powerhouse - BBC News
[ white elephant! lol & the double standard of Google paying 2% tax vs small businesses full 18%+ and not getting investment, R&D loans ] Will Hull thrive or suffer if transport is radically improved to the eastern fringe of the Powerhouse? There's no way of telling. Some people think investment in skills, education and training would be a more certain way of improving productivity - and business leaders are keen to ensure that these key elements are not forgotten in the rush for steel and tarmac. I asked former CBI director-general John Cridland, who is now head of Transport for the North, if there was any certainty that spending billions on infrastructure would improve productivity. He agreed there was no proof, but urged people to take a leap of faith - like the Victorian engineers.
STEM  skills  gap  practical  skills  apprenticeships  underinvestment  productive  investment  Northern  Powerhouse  UK  George  Osborne  David  Cameron  productivity  output  gap  recovery  carbon  tax  renewable  energy  competitiveness  competitive  industrial  policy  Germany  corporate  tax  rate  tax  evasion  tax  avoidance  conglomerate  multinational  HMRC  budget  deficit  dogma  ideology  austerity  squeezed  middle  class  job  creation  Service  Sector  Jobs  added  value  value  creation  economic  history  property  bubble  distortion  HS2  Hinkley  Point  C  HS3  infrastructure  investment  infrastructure  macroeconomic  policy  macroprudential  policy  zombie  banks  BOE  Funding  for  Lending  Scheme  Mark  Carney 
february 2016 by asterisk2a
Dispatches - Low Pay Britain - All 4
living wage starts from 21? 25? // retail big! high street big! - service sector. no manufacturing ... // IT IS CORPORATE SUBSIDY - PROGRAM FOR LOW PAY! // very far from Germay model! // tax payer pays for people in high street! // Ofsted found inadequate conditions! AND SMALL MINORITY GET ACTUALLY A FULL-TIME JOB! LOL LOL LOL! // Social Market Foundation (research) found lvl2 apprenticeship adds nothing to purse over a lifetime. // its DWP policy to get young people off the paper onto other paper largely, still funded, by the gov - still adding to budget deficit. // Ofsted concerned over apprenticeships "wasting public funds" // WHAT A TORY SPIN! // retail places have shot up, and construction plummeted! the latter is harder or put through training providers ( private companies, PRIVATISATION! ). employers are not in charge. to quote one employee of a training provider "meet targets, get money in" its about the # of apprenticeships, not the quality or economic need/industry. //
apprenticeships  exploitation  Workers  Union  Trade  Union  working  poor  Generationengerechtigkeit  fairness  precarious  work  Precariat  self-regulation  minimum  wage  living  wage  low  pay  low  income  welfare  state  social  safety  net  working  tax  credit  tax  credit  housing  benefit  Iain  Duncan  Smith  DWP  spin  doctor  Positioning  Career  Politicians  No  Representation  Service  Sector  Jobs  job  creation  youth  unemployment  policy  folly  policy  error  education  policy  PR  David  Cameron  George  Osborne  industrial  policy  STEM  Manufacturing  microeconomic  policy  macroeconomic  policy  recovery  GFC  disposable  income  discretionary  spending  corporate  scandal  corporate  welfare  subsidies  subsidizing  budget  deficit  Fachkräftemangel  trickle-down  economics  neoliberalism  neoliberal  Wall  Street  profit  maximisation  shareholder  value  Ofsted  skills  gap  budget2015  free  market  Privatisation  dogma  ideology 
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
Elektroauto: Sonderabgabe auf Sprit soll Kaufprämie finanzieren - SPIEGEL ONLINE
In den Regierungsstreit über eine Kaufprämie für Elektroautos mischt sich der Chef der Nationalen Plattform Elektromobilität ein. Henning Kagermann will den Bonus unbedingt - zulasten von allen anderen Autofahrern. //&! Ab 2021 dürfen Neuwagen in der EU nicht mehr als 4,1 Liter Benzin im Schnitt verbrauchen. Doch besonders die deutschen Hersteller tun sich laut einer Untersuchung mit den Vorgaben schwer. Schuld daran hat ein Trend, den sie jahrelang selbst befeuert haben. - bit.ly/1nT3mFF //&! LOBBYING EFFORTS STILL ON! - Ab 2017 werden die Abgaswerte von Dieselfahrzeugen unter Realbedingungen gemessen. Das EU-Parlament hat für einen entsprechenden Entwurf gestimmt. Gleichzeitig winkten die Abgeordneten Zugeständnisse an die Autohersteller durch. - bit.ly/1QiXxrA
carbon  tax  autoindustry  automotive  fossil  fuel  renewable  energy  electric  car  carbonfootprint  carbon  trading  scheme  carbonemission  consumer  choice  subsidies  subsidizing  macroprudential  policy  microeconomic  policy  macroeconomic  policy  Makers  COP21  climate  change  global  warming  climate  crisis  air  pollution  efficiency  energy  efficiency  Smart  Grid  energy  storage  SUV  status  symbol  zombie  consumer  Abgas-Affäre  oversight  transparency  accountability  Wall  Street  shareholder  value  profit  maximisation 
february 2016 by asterisk2a
Pando: Sources: Vegas-based Work In Progress co-work space is shutting its doors
Organic is better is more sustainable // Vegas Downtown Project // have a framework (macroprudential policy), but don't pick winners, cities, regions, ... roundabouts. // semiconductor boom bust in scotland, outside glasgow, area - via tax breaks (ie IBM spango vallye)
free  market  Venture  Capital  subsidies  subsidizing  corporate  welfare  Silicon  Valley  Vegas  Downtown  Project  Berlin  Start-Up  Scene  Los  Angeles  Start-Up  Scene  New  York  Start-Up  Scene  Silicon  Alley  economic  history  fossil  fuel  renewable  energy  carbon  tax  carbon  trading  scheme  carbonfootprint  carbonemission  tax  code  fiscal  policy  industrial  policy  job  creation  STEM  Manufacturing  dogma  trickle-down  economics  neoliberalism  neoliberal  Career  Politicians  No  Representation  short-termism  Opportunism  opportunist  microeconomic  policy  macroprudential  policy  macroeconomic  policy  intellectual  property  IP  progressive  tax  code  tax  evasion  tax  avoidance  democracy  social  democracy  fairness 
february 2016 by asterisk2a
Fred Block: The Tenacity of the Free Market Ideology - YouTube
Fred Block discusses his book “The Power of Market Fundamentalism,” which extends the work of the great political economist Karl Polanyi to explain why free market dogma recovered from disrepute after the Great Depression and World War II to become the dominant economic ideology of our time. // wo state role there would be no market system. // need social democracy in complex diverse society - representing people // freedom in complex diverse society = free of hunger and economic uncertain & freedom of nonconformity - protections, no marginalisation, no economic punishment // social democracy and free market are both Utopias // Thatcher & Co blaming State for malaise! nobody likes technocratic arguments, leaves public out, thus was able to make big return. // wealth creation through efficiency route takes more work and capital than predation (rentier/rent seeking) - ie relaxing fuel efficiency savings regulation for Detroit back in the days // trust that state can support innovation
economic  history  freemarkets  free  market  neoliberalism  self-regulation  neoliberal  book  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Chicago  School  USA  UK  social  democracy  capitalism  dogma  ideology  austerity  trickle-down  economics  globalization  globalisation  borderless  flat  world  Greed  boom  and  bust  crony  capitalism  plutocracy  oligarchy  Super  Rich  1%  democracy  revolving  door  Career  Politicians  No  Representation  social  mobility  American  Dream  meritocracy  meritocratic  Alain  de  Botton  philanthropy  profit  maximisation  shareholder  value  Wall  Street  Gini  coefficient  income  mobility  education  policy  welfare  state  social  safety  net  Supply  and  Demand  market  economy  Demand  and  Supply  JohnMaynardKeynes  keynes  Keynesianism  GFC  Great  Moderation  Great  Depression  Utopia  Ronald  Reagan  Margaret  Thatcher  rentier  rent-seeking  predation  financial  product  wealth  creation  R&D  STEM  productive  investment  productivity  output  gap  public  investment  underinvestment  infrastructure  investment  competitive  competitiveness  M&A 
january 2016 by asterisk2a
BBC News on the North South Divide with Tom Hunt - YouTube
multiplier effect of service sector job = 1 or lower. meaning need to access tax credits. //&! Northern Powerhouse dept to close Sheffield office and move 247 jobs to London. - Government business department shuts largest non-London office George Osborne’s ‘northern powerhouse’ policy questioned as branch closure in Sheffield casts doubt on chancellor’s pledge to revitalise English cities - bit.ly/1PDlgSA // also northern councils have to cut deeper than souther because of lower tax base!
Northern  Powerhouse  UK  Scotland  Westminster  London  George  Osborne  Devolution  job  creation  Service  Sector  Jobs  microeconomic  policy  macroeconomic  policy  knowledge  economy  knowledge  worker  transferring-wealth  transfer  payments  income  distribution  income  redistribution  low  income  low  pay  precarious  work  Precariat  part-time  recovery  GFC  Manufacturing  STEM  productivity  output  gap  macroeconomics  microeconomics  nasty  party  Conservative  David  Cameron  Toff  Establishment  post  code  lottery  health  inequality  inequality  Gini  coefficient  social  mobility  income  mobility  wealth  distribution  Privileged  education  policy  apprenticeships  vocational  education  austerity  Council  Public  Services  Services  SNP  Scotland  Bill  Fiscal  Framework  fairness  Generationengerechtigkeit  structural  unemployment  PR  spin  doctor  Positioning 
january 2016 by asterisk2a
James Galbraith, Kate Pickett, Branko Milanovic - Consequences of Inequality and Wealth Distribution - YouTube
free education / land value tax / higher inheritance tax / abolition of private education / more progressive taxation / combat tax avoidance and tax evasion / ... Universal Basic Income //&! New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals - youtu.be/RO8KWTb2iPM - w Joseph Stiglitz and Paul Krugman --- distinguishing between wealth and capital. ignore land (free yourself from Ricardo). land. credit. //&! David Cay Johnston: The Perils Of Our Growing Inequality - David Cay Johnston about his new book, Divided: The Perils of Our Growing Inequality. - youtu.be/ok7ZJ8mS19Y
inequality  income  inequality  Gini  coefficient  education  policy  income  distribution  income  redistribution  tax  free  income  income  mobility  social  mobility  health  inequality  gender  inequality  trickle-down  economics  neoliberalism  neoliberal  welfare  state  social  safety  net  progressive  tax  code  Super  Rich  1%  oligarchy  plutocracy  social  democracy  No  Representation  Career  Politicians  democracy  tax  evasion  tax  avoidance  Universal  Basic  inheritance  tax  financial  literacy  wealth  distribution  wealth-distribution  transferring-wealth  Thomas  Piketty  Joseph  Stiglitz  Robert  Reich  squeezed  middle  class  globalization  globalisation  Paul  Krugman  Elizabeth  Warren  austerity  fairness  Generationengerechtigkeit  fiscal  policy  economic  growth  Supply  and  Demand  Demand  and  Supply  disposable  income  discretionary  spending  credit  bubble  GFC  recovery  monetary  policy  debt  servitude  consumer  debt  household  debt  Student  Loan  debt  debt  credit  card  debt  credit  card  economic  history  macroeconomic  policy  microeconomic  policy  competitiveness  productivity  knowledge  worker  book  monopoly  oligopoly  oligopol  American  Dream  meritocracy  meritocratic  post-racial  America  free  market  freemarkets  dogma  ideology 
january 2016 by asterisk2a
SPERI Annual Lecture 2015: 'The Failure of Austerity' by Lord Robert Skidelsky - YouTube
economic history - "state spending inherently unproductive." // borrowing is deferred taxation - David Richardo - Rational expectations. Market economy always tended full employment. // Theory and Facts did not align. Keynes realised it post-war. Private investment is inherently volatile, ie slump conditions. state to offset underinvestment of private sector and match their retreat. getting rid of abnormal unemployment. done through monetary expansion (QE) and put onto state balance sheet available to spend. // Where 2009 forward QE got to banks ... // Paul Krugman - Confidence Fairy. // "Look after employment, and the budget will look after itself." but today it's the bond holders confidence who shapes budgets. // Keynes 'it is the long-term confidence of businesses that shape investment, confidence in state to no let a slump happen again.' but austerity, out of ammo talk, political-, social environment/sentiment & Osborne's '2016 will be tough year' speech were counter-productive.
austerity  economic  history  Robert  Skidelsky  Richard  Koo  David  Ricardo  sovereign  debt  crisis  underinvestment  productive  investment  competitiveness  competitive  public  utility  public  investment  education  policy  public  transportation  Good  infrastructure  investment  QE  monetary  policy  fiscal  policy  George  Osborne  trickle-down  economics  tax  code  progressive  taxation  oligarchy  plutocracy  Super  Rich  1%  neoliberalism  neoliberal  Chicago  School  stagflation  secular  stagnation  Pact  business  cycle  business  confidence  consumer  confidence  Schuldenbremse  western  world  Paul  Krugman  political  folly  political  theory  political  economy  political  error  macroprudential  policy  macroeconomic  policy  microeconomic  policy  financial  cycle  Greed  economic  cycle  inflation  expectation  expectations  Super  debt  servitude  GFC  recovery  Conservative  Party  fearmongering  Fear  Career  Politicians  nasty  David  Cameron  PR  spin  doctor 
january 2016 by asterisk2a
Insatiability, and the 15-hour week - YouTube
// book wealth of nations //&! Prof Lord Robert Skidelsky - How Much is Enough? The Economics of the Good Life - youtu.be/yeWz5Cg_BD4 //&! Guaranteed Employment & Basic Income - youtu.be/2W1ShSG1X6k //&! Why the precariat requires a basic income (Prof. Guy Standing) (ENG) - youtu.be/4WaA8zqjBSk //&! The Precariat: The new dangerous class - Sydney Ideas - youtu.be/-jJt-5i_dls
book  Robert  Skidelsky  income  distribution  GDP  nominal  GDP  targeting  macroeconomic  policy  happiness  index  microeconomic  policy  4-day  work  week  6-hour  work  day  economic  history  well  being  public  health  policy  public  health  leisure  time  work  life  balance  burnout  western  society  western  world  secular  stagnation  life  hacker  life  lesson  inequality  Gini  coefficient  wealth  distribution  tax  evasion  tax  avoidance  social  democracy  No  Representation  democracy  welfare  state  social  safety  net  minimum  wage  Universal  Basic  Thomas  Piketty  precarious  work  Precariat  working  poor  poverty  in  old  age  poverty  UK  USA  Europe  transferring-wealth  wealth-distribution  trickle-down  economics  neoliberalism  neoliberal  Super  Rich  1%  plutocracy  oligarchy  Greed  zombie  consumer  consumerism  consumerist  status  anxiety  Selbstdarstellung  Selbstfürsorge  sociology  philosophy  Aristotle  low  income  tax  free  income  income  redistribution  income  inequality 
january 2016 by asterisk2a
Aberdeen and Edinburgh highlighted in city economies report - BBC News
No Scottish cities were in the top 10 for "low-wage, high-welfare" economies. The 2016 report - described as a "health check" for the 63 largest UK cities - focused on Chancellor George Osborne's vow to build a "higher wage, lower welfare" economy, as set out in the Summer Budget 2015. >> It argued that nearly a million new jobs had been created in cities since 2010 - but that the average salary had also dropped by £1,300 per resident. 'High-wage, low-welfare' << [...] The think tank said the two areas' ability to attract high-skilled jobs - in the oil and professional services industries for example - was the key to their success. It argued that cities with high wages had seen faster jobs growth, with employment rising by 10% since 2010, compared with 3% in low-wage cities. [...] [ Housing Crisis across the country thus ] increased housing benefit payments.
job  creation  recovery  Service  Sector  Jobs  UK  austerity  minimum  wage  living  wage  George  Osborne  neoliberalism  neoliberal  Manufacturing  macroeconomic  policy  microeconomic  policy  low  pay  low  income  tax  credit  child  tax  credit  working  tax  credit  tax  free  income  progressive  tax  code  income  distribution  disposable  income  discretionary  spending  income  inequality  income  growth  wage  growth  secular  stagnation  globalization  globalisation  borderless  flat  world  economic  history  nasty  party  Tories  Conservative  trickle-down  economics  squeezed  middle  class  precarious  work  Precariat  wage  stagnation  income  redistribution  welfare  state  social  safety  net  David  Cameron  budget2015  budget2010  Public  Services  Services  added  value  value  creation  Housing  Crisis  affordable  social 
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
Committee warns of decline in Scottish employment standards - BBC News
[ always announcing new jobs created #, but not the wage ] Members said there had been a "decline in job quality" in recent years, with an increase in low-paid zero-hours contract jobs since the 2008 recession. Their report said public money could be better used to support workers. The committee heard evidence from scores of organisations and took submissions from more than 600 people. Convener Murdo Fraser said the evidence from firms and workers suggested there had been a decline in job quality and an increase in low-paid jobs on "exploitative" zero-hours contracts in recent years. He said: "Whilst employment statistics point to an increase to those in work, if we look beyond the figures, we have uncovered a worrying trend in poor quality employment. [...] "We heard during our inquiry that poor quality work has a significant impact on people's health and wellbeing.
job  creation  Zero  Hour  Contract  Service  Sector  Jobs  recovery  GFC  precarious  work  Precariat  low  income  minimum  wage  working  poor  tax  credit  squeezed  middle  class  UK  USA  part-time  poverty  trap  Gini  coefficient  social  mobility  income  mobility  poverty  child  poverty  working  tax  credit  child  tax  credit  education  policy  skills  gap  job  market  job  security  output  gap  productivity  living  wage  Tories  Conservative  Party  nasty  Positioning  PR  spin  doctor  wage  growth  wage  stagnation  income  growth  consumer  debt  household  debt  credit  card  debt  credit  card  car  loan  austerity  consumer  confidence  business  confidence  subsidies  subsidizing  corporate  welfare  well  being  happiness  happiness  index  mental  health  microeconomic  policy  macroeconomic  policy  corporate  tax  rate  tax  evasion  tax  avoidance  Wall  Street  profit  maximisation  shareholder  value  neoliberalism  neoliberal  dogma  ideology  corporate  scandal  CSR  corporate  social  responsibility  philanthropy  underinvestment  STEM  public  investment  business  investment  Foreign  Direct  investment  productive  investment  infrastructure  investment  fiscal  policy  ZIRP  NIRP  QE  distortion 
january 2016 by asterisk2a
Börsenabsturz in China: Der Kontrollverlust - Kommentar - SPIEGEL ONLINE
Der Börsen-Crash in China ist Symptom eines fundamentalen Wandels: Um den Wohlstand zu erhalten, muss die Regierung immer mehr Kontrolle abgeben. Die Allmacht der kommunistischen Partei gerät ins Wanken.
China  economic  history  SRD  Yuan  macroeconomic  policy  microeconomic  policy  corruption  bribery  regulation  regulators  liberal  economic  reform  economic  refugee  inequality  IMF  AIIB  World  Bank  Hegemony  PBOC  Gini  coefficient  social  safety  net  Services  Public  Services  discretionary  spending  disposable  income  pension  scheme  pension  pension  fund  asset  allocation  capital  allocation  ZIRP  NIRP  QE  credit  bubble  QT  monetary  policy  fiscal  policy  shadow  banking  NPL  2015  2016  shadow  economy  demographic  bubble 
january 2016 by asterisk2a
Economy concerns as household debt rises to £40bn in latest figures | Business | The Guardian
Families are expected to run up £40bn of debt this year, sparking fears about Britain’s economic recovery. [...] (OBR) forecasts have found that households have moved from a surplus of £67bn in 2010, the year the coalition took power, to a £40bn deficit this year. Unsustainable borrowing is on course to near the levels reached in the run-up to the 2008 financial crash, according to Labour. Seema Malhotra, the shadow chief secretary to the Treasury, said: “George Osborne is relying on millions of British families going further into debt to hit his growth targets. [ as projected by economists, that household had to take up debt, shifting debt burden off the public balance sheet, when austerity plans were revealed together with LibDems, to meet growth targets/estimates, back then. same w decistions to increase student loans, convert grants into loan ie for nursing, remove allowances and grants. same w the green bank. shifting items off the balance sheet. and underinvestment. ]
economic  growth  austerity  trickle-down  economics  underinvestment  George  Osborne  nasty  party  Tories  Conservative  neoliberalism  neoliberal  budget  deficit  Student  Maintenance  Grant  Education  Maintenance  Allowance  debt  loan  debt  loan  Student  Bubble  generation  rent  Generationengerechtigkeit  fairness  policy  Liberal  Democrats  household  debt  consumer  debt  squeezed  middle  class  working  poor  credit  card  debt  credit  card  car  loan  Precariat  precarious  work  child  tax  credit  working  tax  credit  tax  credit  wage  stagnation  income  growth  inequality  Gini  coefficient  rat  race  status  anxiety  status  symbol  debt  servitude  debtoverhang  sovereign  debt  crisis  Super  Cycle  ZIRP  NIRP  mortgage  market  property  hunt  for  yield  QE  New  Normal  macroprudential  policy  macroeconomic  policy  microeconomic  policy  debt  monetisation  debt  monetization  debt  private  debt  Privatisation 
december 2015 by asterisk2a
Interview ǀ Weg vom BIP-Wachstumswahn — der Freitag
Interview Hans Diefenbacher ist Ökonom und hat eine Alternative zum allmächtigen Bruttoinlandsprodukt entwickelt //&! „Ökonomen verhindern einen Wirtschaftswandel" Interview An der Cusanus-Hochschule werden alternative Wirtschaftsmodelle gelehrt. Die Professorin und Ökonomin Silja Graupe erzählt im Gespräch, warum das notwendig ist - bit.ly/1Oi4Qo9
BIP  GDP  nominal  GDP  targeting  economic  model  trickle-down  economics  neoliberalism  neoliberal  crony  capitalism  capitalism  economics  of  abundance  liberal  economic  reform  austerity  economic-thought  economic  history  economic  damage  tax  evasion  tax  avoidance  Greed  shared  economic  interest  Wall  Street  shareholder  value  profit  maximisation  macroeconomic  policy  economic  growth  happiness  index  climate  change  short-termism  Generationengerechtigkeit  fairness  inequality  Gini  coefficient 
december 2015 by asterisk2a
Sports Direct is a reflection of the modern British economy | Letters | Business | The Guardian
Sports Direct seems to be a metaphor for the modern British economy. “The conscious strategy would seem to be to rely on cheap labour rather than costly investment,” as your editorial (11 December) says. It also illustrates the epidemic growth of workforce insecurity which plagues a nation scarred by the rise of the precariat. Britain is rapidly becoming the sweatshop of Europe, and this, along with bubbles in consumer debt and house prices, has been a major part in such anaemic recovery as we have seen over the past five years. [...] [ HMRC cut under austerity, can't do it's job ] //&! theguardian.com/business/sports-direct-international //&! bit.ly/1jTkmsi - transferring assets. then bringing in administrators. leaving suppliers empty.
corporate  scandal  Precariat  working  poor  precarious  work  job  security  low  pay  low  income  investigative  journalism  Whistleblower  Amazon  Retail  Online  Shopping  commodity  business  commoditization  crony  capitalism  capitalism  Wall  Street  shareholder  value  profit  maximisation  George  Osborne  industrial  policy  STEM  David  Cameron  Tories  nasty  party  underinvestment  Conservative  competitive  competitiveness  self-regulation  regulation  regulators  Zero  Hour  Contract  Contractor  exploitation  lobbyist  lobby  Lobbying  trickle-down  economics  neoliberalism  neoliberal  microeconomic  policy  macroeconomic  policy  macroprudential  policy  business  investment  productivity  output  gap  austerity  tax  evasion  tax  avoidance  corporate  welfare  white-collar  crime  subsidies  subsidizing  HMRC  Trade  Union  Workers  Union  skills  gap  accounting  scandal 
december 2015 by asterisk2a
IMF: UK's economic performance 'very strong', but risks remain - BBC News
[ UK more like USA than Europe, let alone Germany ] Underlying economic vulnerabilities have been addressed, and steady growth looks set to continue, it said. But high household debt, a "strikingly large" trade deficit and high government debt are still risks to the economy. It also warned about uncertainty over whether the UK would stay in the EU. [...] But although UK house price growth has eased, the household debt-to-income ratio is still high, and could leave some households vulnerable to shock interest rate rises. The large trade deficit could affect cash flows into the UK, adversely affecting growth, the report says. In addition, high government debt, and a continuing deficit, could tie the government's hands in dealing with any future recession, and productivity growth might fail to materialise. Chancellor George Osborne said the IMF report "could hardly be more positive" about the UK economy, but that it "rightly" identified challenges.
UK  economic  history  trade  deficit  household  debt  consumer  debt  credit  card  debt  credit  card  zombie  consumer  recovery  GFC  squeezed  middle  class  austerity  industrial  policy  George  Osborne  short-termism  Tories  Conservative  Party  nasty  constituency  babyboomers  David  Cameron  IMF  OECD  crony  capitalism  capitalism  tax  evasion  tax  avoidance  ChristineLagarde  fairness  Generationengerechtigkeit  climate  change  climate  crisis  global  warming  energy  policy  competitive  competitiveness  macroeconomic  policy  microeconomic  policy  policy  folly  policy  error  Super  Rich  1%  Wall  Street  shareholder  value  self-regulation  profit  maximisation  debt  servitude  Super  Cycle  sovereign  debt  crisis  student  loan  debt  student  loan  Bubble  student  debt 
december 2015 by asterisk2a
Ignoring watersheds, ignoring climate change: flooded by our ignorance | George Monbiot | Comment is free | The Guardian
Storm Desmond’s floods expose the utter madness of government policies, both in the hills and at the Paris talks. It’s as if it had come to remind us of what’s at stake. While the climate negotiations in Paris trudge their dreary road, Storm Desmond takes a great boot to our backsides. Yet still we fail to make the connection. The news records the spectacle and ignores the implications. //&! On Monday, experts called for new measures to be implemented –such as raising new buildings a metre above ground – to help cope with global warming-induced flooding. - bit.ly/1YVeQ8r //&! Flood defences failed; bit.ly/1LZTcGN //&! Labour attacks £115m fall in flood management spending - bit.ly/1NCldJY //&! bit.ly/1loVcU9 - 45k homes without power. //&! Pictures w Cameron visiting flooded homes; bit.ly/1QbA7JD //&! Guardian Editorial - bit.ly/1PShdr9 &! bbc.in/1iatrb6 &! bbc.in/1PTFMnG &! bbc.in/1Qc4Vd7 &! bbc.in/1HRT1mb - Vegan as Long-term investment against extreme weather, duh. makes men cry.
COP21  flash  floods  flooding  extreme  weather  weather  extreme  climate  crisis  climate  change  recycling  carbonfootprint  carbon  tax  carbon  trading  scheme  carbonemission  economic  damage  Generationengerechtigkeit  constituency  babyboomers  Meat  Industry  livestock  farming  methane  Career  Politicians  No  Representation  economic  growth  Wall  Street  shareholder  value  profit  maximisation  crony  capitalism  capitalism  underinvestment  renewable  energy  energy  policy  fossil  fuel  Makers  austerity  solar  energy  wind  energy  Smart  Grid  zombie  consumer  consumerist  consumerism  sustainability  sustainable  materialism  status  anxiety  status  symbol  sick  population  health  crisis  hypocrisy  budget2015  George  Osborne  David  Cameron  nasty  party  Conservative  Tories  short-termism  macroeconomic  policy  microeconomic  policy  taxation 
december 2015 by asterisk2a
School debts 'have increased sharply' since 2013 - BBC News
State school debt in England and Wales has increased sharply in the past three years, as budgets tighten and cost pressures hit schools, a report says. [...] 'Cost pressures biting' The Department for Education added it was up to head teachers to prevent their schools from going into debt. "We have always been clear that local authorities need to work with schools to prevent any deficits and surpluses becoming significant," it said. [...] 'Protected budgets' Although the chancellor's Spending Review confirmed per pupil funding will be stable as numbers increase, the Institute of Fiscal Studies has warned there will be significant cost pressures of up to 8% on schools over the next five years. // [ Strong economy = Strong NHS ]
budget2015  George  Osborne  education  policy  austerity  Gini  coefficient  social  mobility  post  code  lottery  inequality  income  mobility  Generationengerechtigkeit  UK  Tories  nasty  party  Conservative  constituency  babyboomers  general  election  2015  election  campaign  promises  microeconomic  policy  macroeconomic  policy  economic  history  trickle-down  economics  tax  avoidance  tax  evasion  neoliberalism  neoliberal  PR  spin  doctor  reframing  framing  manufactured  consent  corporate  state  corporate  media  budget  deficit  fairness  bank  bailout  GFC  recovery  competitive  competitiveness  underinvestment  STEM  capital  skills  skills  gap  globalisation  globalization  borderless  flat  world 
december 2015 by asterisk2a
The roof is being fixed but beware the house crashing beneath it | Business | The Guardian
Consumer spending is driving economic growth but household debt and the house price-income ratio is at a record high. Be afraid [...] It is worth recalling that when Osborne became chancellor five and a half years ago that he had two big objectives. The first was to repair the hole in the public finances, which is still very much a work in progress. The other was to shift the centre of gravity of the economy back towards making things for export. This remains a pipedream. [...] Despite the welcome pickup in business investment, the main driver of growth has been consumer spending, which has been boosted by low interest rates, the fall in inflation caused by lower oil prices, and a modest acceleration in earnings. [...] “not the ideal shape for the recovery” and it can say that again. The current recovery looks like all the previous recoveries. [...] “Fast-rising household debt is needed to maintain a reasonable rate of growth in consumers’ spending and GDP in a world of austerity ...
household  debt  consumer  debt  zombie  consumer  recovery  credit  card  debt  credit  card  materialism  status  anxiety  USA  UK  Super  Cycle  debtoverhang  mortgage  market  Housing  Crisis  debt  servitude  NPL  property  bubble  speculative  bubbles  ZIRP  NIRP  QE  BOE  Buy-to-Let  Help  to  Buy  Scheme  Right  to  Buy  student  loan  debt  debt  bubble  student  debt  private  debt  economic  growth  GFC  fiscal  policy  austerity  industrial  policy  underinvestment  productive  investment  competitive  competitiveness  George  Osborne  dogma  ideology  neoliberalism  neoliberal  David  Cameron  Tories  nasty  party  Conservative  economic  history  energy  policy  energy  price  STEM  Manufacturing  diversity  microeconomic  policy  macroeconomic  policy  Amber  Rudd  debt  monetisation  debt  monetization  secular  stagnation  disposable  income  discretionary  spending  squeezed  middle  class  working  poor  consumerist  consumerism  trickle-down  economics  status  symbol  market  affordable  social  budget2015  marginal  propensity  to  consume  Precariat  tax  credit 
december 2015 by asterisk2a
HMRC asked tax avoider to sign pledge not to engage in practice again | Politics | The Guardian
HMRC asked tax avoider to sign pledge not to engage in practice again Department says letter was sent as part of series of measures to discourage wider issue of tax avoidance and was not a legally binding document. [...] [ out of the lions mouth ] "one man’s aggressive avoidance is another man’s sensible planning" [...] [ but benefit "scroungers" go to jail. one tax cheat has yet to go to jail // google "daily mail benefits cheat jailed" vs daily mail tax cheat jailed // tax cheats fleece state because they use infrastructure and services for free, have thought about that? but can't jail you because you create jobs, and thus have a meaning to capitalistic society. benefit claimants, the sick, the vulnerable, the disabled have no place in a capitalistic society and thus in Osborne's budget considerations nor for the NHS which is in his eyes (actions speak louder than words, no investment to better society ... where is the Big Society item?) only a cost item. ] [write ur own rules $]
HMRC  double  standard  benefits  benefit  sanctions  sanctions  welfare  state  corporate  welfare  social  safety  net  Food  Bank  tax  evasion  tax  avoidance  Super  Rich  1%  UK  nasty  party  Tories  Conservative  ethics  society  social  tension  social  cohesion  Daily  Mail  newscorp  News  Corp.  News  Corporation  Positioning  spin  doctor  reframing  framing  Polarisation  populism  neoliberalism  neoliberal  trickle-down  economics  skiver  scrounger  corporate  media  corporate  state  Wall  Street  profit  maximisation  shareholder  value  No  Representation  social  democracy  inequality  Gini  coefficient  Precariat  Iain  Duncan  Smith  DWP  George  Osborne  David  Cameron  general  election  2015  election  campaign  promises  budget2015  tax  credit  child  tax  credit  working  tax  credit  white-collar  crime  corporate  scandal  accounting  scandal  budget  deficit  lobbyist  lobby  Lobbying  Toff  Establishment  capitalism  crony  capitalism  austerity  macroeconomic  policy  microeconomic  policy  NHS  public  health  health  crisis  productivity  sick  day  output  gap  competitiveness  education  policy  underinvestment  short-termism  general  election  2020  fairness  Generationengerechtigkeit  babyboomers  Millennials  GFC  bailout  Westminster  Career  Politicians  economic  history  economic  justice  justice 
november 2015 by asterisk2a
Osborne's £23bn from the back of the sofa - BBC News
[ from 2010 forecast, deficit should be a surplus by 2016/17 or something like that ] the government's forecaster, the Office for Budget Responsibility, has increased its prognosis of how much the Treasury will raise from existing taxes (not new ones) and reduced what it thinks the chancellor will shell out in interest on its massive debts. In total the OBR thinks the national debt, the aggregate of the annual deficits, will be £23bn lower over the four years to 2020, and just because it is more optimistic about tax revenues and assorted costs. Or to put it another way, George Osborne is today £23bn better off than he thought in July, and without doing anything at all. //&! on.fb.me/1Hq17SP
OBR  UK  forecast  economic  growth  austerity  recovery  budget2015  George  Osborne  David  Cameron  macroeconomic  policy  microeconomic  policy  budget  deficit  general  election  2020  Tories  Conservative  Party  Manifesto  election  campaign  promises  general  election  2015  fiscal  policy  underinvestment  productive  investment  output  gap  productivity 
november 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
Who is advising Jeremy Corbyn on economics?
John McDonnell and Jeremy Corbyn have selected an economic advisery committee to help create a “coherent alternative” to austerity. // bit.ly/1KVdreO QE for people. - via on.fb.me/1KLDgei
Labour  Party  Jeremy  Corbyn  macroeconomic  policy  microeconomic  policy  Makers  UK  trickle-down  economics  Tories  Conservative  Party  neoliberalism  neoliberal  lefty  Gini  coefficient  income  mobility  social  mobility  education  policy  underinvestment  Super  Rich  1%  tax  evasion  tax  avoidance  productive  investment  Joseph  Stiglitz  Thomas  Piketty  David  Blanchflower  Politics  constituency  election  campaign  promises  Ann  Pettifor  book  No  Representation  fairness  Generationengerechtigkeit  social  contract 
september 2015 by asterisk2a
Homelessness figures: Nearly 100,000 children in England 'homeless' - BBC News
Nearly 100,000 children in England are living in temporary accommodation after being made homeless, new figures show. // &! More & more student start work after graduation in low pay jobs not requiring a diploma, due to current job market/job creation situation in UK! Not hitting 21k repayment threshold - bbc.in/1OU0K3H - OBR show fewer are likely to start paying than was expected when the policy was introduced, [...] freezing the loan repayment threshold - alongside other changes such as replacing maintenance grants for poorer students with loans - will significantly increase the cost of going to university. It says this risks undermining pledges by successive governments to improve social mobility, as well as raising uncertainty in students' minds over the terms of their borrowing. //&! Higher education cuts 'risk NI being left behind' - bbc.in/1gZMrgj //&! Doctors warn Tories not to cut free school meals (child poverty, food poverty) bbc.in/1LewQrn
UK  property  bubble  Supply  and  Demand  Demand  and  Supply  affordable  housing  social  housing  Gini  coefficient  Generationengerechtigkeit  generation  rent  poverty  trap  child  poverty  food  poverty  austerity  Policy  Makers  dogma  ideology  neoliberalism  neoliberal  Tories  Conservative  Party  housing  market  Crisis  housing  benefit  benefits  welfare  state  social  safety  net  bank  bailout  fairness  social  cohesion  minority  constituency  error  folly  babyboomers  social  tension  Toff  Establishment  Privileged  Entitlement  general  election  2015  election  campaign  promises  Help  to  Buy  Scheme  excess  reserves  mortgage  market  Buy-to-Let  Right  to  Buy  Buy  to  Wall  Street  shareholder  value  profit  maximisation  inequality  Funding  for  Lending  Scheme  macroprudential  macroeconomic  microeconomics  disposable  income  discretionary  spending  debtoverhang  household  debt  recovery  2015  consumer  debt  debt  servitude  private  debt  Payday  Loans  Student  Loan  Millennials  generationy  secular  stagnation  low  income  prevention  job  security  job  market  labour  market  Niedriglohnsektor  Service  Sector  Jobs  job  creation  income  mobility  social  mobility  downward  mobility  precarious  work  Precariat  working  poor  University  vocational  education  professional  education  Maintenance  Student  Maintenance  child  Allowanc 
september 2015 by asterisk2a
Bank of England concerns over buy-to-let boom - BBC News
The growing buy-to-let property market in the UK could post a threat to wider financial stability, a Bank of England committee has said. [...] Buy-to-let mortgage lending had the potential to "amplify" a housing boom and bust, the Bank's Financial Stability Committee (FPC) concluded. Lending in this sector has risen by 40% since 2008, the FPC said. It stopped short of suggesting any intervention by government or regulators at this stage. "The FPC is alert to the rapid growth of the market and potential developments in underwriting standards," the committee said.
Buy-to-Let  Right  to  Buy  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  BOE  macroprudential  policy  macroeconomic  policy  microeconomic  policy  fiscal  policy  monetary  policy  unconventional  monetary  policy  ZIRP  NIRP  QE  Supply  and  Demand  Demand  and  Supply  distortion  mortgage  market  NPL  Boom  and  Bust  irrational  exuberance  rent-seeking  rentier  generation  rent  Buy  to  Tories  Conservative  Party  Makers  Mark  Carney  FOMO  underinvestment  productive  investment  Wall  Street  shareholder  value  profit  maximisation  excess  reserves  zombie  banks  investment  banking  retail  banking  London  Westminster  Career  Politicians  recovery  GFC  No  Representation  Millennials  Generationengerechtigkeit  fairness  infrastructure  investment  George  Osborne  constituency  babyboomers 
september 2015 by asterisk2a
The new right to buy is solving 1979’s problems at today’s expense | Gaby Hinsliff | Comment is free | The Guardian
This Thatcherite policy revival fails to recognise that the main cause of the housing crisis is affordability //&! Housing bill needs radical, long-term measures to reform the market. As well as increasing supply, the government needs to use the tax system to make buy-to-let less attractive as an investment - bit.ly/1PDxWe3
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september 2015 by asterisk2a
The other generation rent: meet the people flatsharing in their 40s | Money | The Guardian
Number of flatsharers aged 45-54 has risen by 300% in five years, figures show, amid soaring house prices, especially in London [...] Photographer Alex Forsey, 44, is typical of the new generation of flatsharers in their 40s. He recently moved into a house in Clapton, east London, with three other people in their 20s to 40s. He said: “The most affordable one-bed flat I was shown was £1,200 a month, and it was worse than a squat. The agent tried telling me it was a bargain.” //&! ability to get interest only loan is unbelievable.
generation  rent  London  property  bubble  Supply  and  Demand  Demand  and  Supply  UK  distortion  ZIRP  NIRP  QE  asset  allocation  asset  bubble  alternative  investment  Buy  to  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  excess  reserves  mortgage  market  2015  macroprudential  policy  macroeconomic  policy  microeconomic  policy  BOE  NPL  subprime  cost  of  living  cost  of  entry  living  standard  living  spaces  standard  of  living  air  pollution  noise  pollution  city  living  urbanisation  economies  of  agglomeration 
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."
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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;
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september 2015 by asterisk2a
America's Highways Need That Trillion Dollars Congress Already Spent - YouTube
transportation (all kinds), internet, phone lines, cable, energy (smart grid), water, --- cost increase w worse infrastructure to do business. whether its commuting times (chronic stress for workers - thus increased aggregate health care bill and increased sick days) & congestion, air water pollution (public health), car/truck maintenance cost, no bike lanes (public health), lost productivity due to energy outages, slow internet ...
USA  infrastructure  investment  underinvestment  competitive  competitiveness  infrastructure  globalization  globalisation  Smart  Grid  microeconomic  policy  macroeconomic  policy  macroprudential  policy  macroeconomics  microeconomics 
september 2015 by asterisk2a
Brazil's downgrade | Authers' Note - YouTube
- 6 killer apps not yet properly installed. - // and still dependent on western world demand! aggregate demand via western consumer. // credit bubble and ZIRP/NIRP/QE has run its way largely // private sector could not pick up recovery. no appetite. same for SME SMB mittelstand. excess reserves not lend out because the horse has to drink by itself, can't make the drink. // especially when it has no means to served future credit interest payment coupons and principal repayment with no income growth! for decades. // inequality huts, middle class destoryed. - Career Politicans, Fear, polarisation, inequality, gini coefficient, zeit arbeit, leiharbeit, self-employment, working conditions, ...sozialer abstieg, squeezed middle class, ... insecurity, cloudy future, richard koo: austerity isn't helping!
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september 2015 by asterisk2a
Why did Japan stop growing? Professor Takeo Hoshi at ANU - YouTube
Blyth argued its culture/society & structural. TPP trade deal might help productivity growth & opening Japan further 2 global trade. & encourage immigration reform. Regulatory reform; stop protection of zombies (gov guarantees, contracts, subsidies), corporate governance. Oversight. Transparency. Also Start-up rate (bottom-up disruption) needs reform (reduce red tape, create start-up/business hubs) // &! What is Abenomics? - youtu.be/_UafzhHzmwE //&! Noriko Hama & Yukio Noguchi "Abenomics and What comes After" - youtu.be/a29FTJXYev0 'unable to share affluence' - income redistribution << marginal propensity to consume, 16% left out of society (poverty), lack of empathy & compassion. BOJ is single lender 2 gov. Career Politicians! Companies have no need 2 borrow/cant force banks 2 lend. //&! min52 Problem of rising long-term interest rates solved w BOJ debt monetisation = inflation (probable near future scenario). &! youtu.be/ArnLHTE0e1g &! youtu.be/wYtJ7Fyn9NA &! youtu.be/AbKeTeb-I_M
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september 2015 by asterisk2a
Selling Off the State in China - Bloomberg View
China's latest batch of ugly data offers a stark message to President Xi Jinping: Whatever he's doing to prop up growth isn't working. Even worse than the 5.5 percent drop in exports last month was the 13.8 percent plunge in imports, indicating that domestic demand is weaker than the external sector. The good news is Xi is changing tack. Rather than just tossing more stimulus at the economy and stocks, he's redoubling efforts to reform the inefficient and opaque state-owned enterprises at the root of so many of China's vulnerabilities. In other words, Xi is finally working to strengthen China's foundations rather than papering over the cracks. The bad news is that Xi could just as easily be making things worse.
China  liberal  economic  reform  2015  credit  bubble  debtoverhang  balance  sheet  recession  deleveraging  PBOC  QE  macroeconomic  policy  microeconomic  policy  welfare  state  social  safety  net  savings  glut  public  health  care  system  disposable  income  discretionary  spending  fiscal  policy  fiscal  stimulus  monetary  policy  NPL  shadow  banking  banking  crisis  economic  reform 
september 2015 by asterisk2a
Easy Money Creates the Most Dangerous Bubbles - Bloomberg View
[Money has been slushing arnd in markets speculating, not investing in future & productive, added value goods. big companies are flush 2. easy credit is holding zombie corps of the last century over water. western world is persisting 2 put a banking bailout/crisis in the light of a sovereign debt crisis 2 push idealogical austerity. falling way being, never be able 2 catch up with productivity, output gap, STEM, research, future of work, smart grid & infrastructure, retooling their economy 21st century style.] // "speculation in property markets, amplified by mortgage financing, as a persistent central factor driving economic cycles." [...] the worst bubbles -- those that inflict the most economic pain -- tend to involve not just speculation, but a surge in easy lending and increasing leverage. [...] economic downturns following credit bubbles were generally worse and lasted longer. [...] danger of leverage cycle. // [ easy credit & debt fuelled recovery of assets, not fundamentals ]
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august 2015 by asterisk2a
Austerity: The History of a Dangerous Idea - YouTube
faith in capitalism can only be sustained, according to Adam Smith, if we can better ourself (vs winner takes all) & talent diversion into Finance, not Climate Change, STEM, education, sw, hw & rogoff/reinhart called 4 fiscal stimulus in 2014. &! its a banking problem, not overspend, its corporate state (Tories) PR and spin doctors, manufacturing consent, propaganda/populism! change conversation away from banks! // youtu.be/a-8ySh6nUsA // &! The Austerity Delusion - youtu.be/NQGCoiakycQ // &! Is Austerity a Dangerous Idea? - youtu.be/2v8m-J8sgik // &! youtu.be/JQuHSQXxsjM // &! Mackenzie Lecture 2015 - youtu.be/B6vV8_uQmxs // &! After the Financial Crisis: How to Tell the Forest from the Trees - youtu.be/V3FPmu2_J_0 // &! Book Panel 2013 - youtu.be/Xz4FW8GDwG4 - "debt gets cured by growth." & austerity is ideological war on welfare state & class // &! youtu.be/iM2cnMhJZyg // &! youtu.be/in5M65566iw // &! What I Learned and (Un-Learned) at the Financial Crisis - youtu.be/lhldDOp77QA /
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august 2015 by asterisk2a
Frankreich verliert Status als Deutschlands wichtigstes Exportland - SPIEGEL ONLINE
IMF rechnet für 2015 mit einem Anstieg des BIP US um 2,5 Prozent und für 2016 mit 3 Prozent. "Wir sehen zudem eine Reindustrialisierung in den USA: Dort werden wegen der niedrigen Energiekosten viele neue Fabriken und Produktionsstätten hochgezogen", sagte Treier. "Dafür werden Maschinen und Ausrüstungen aus deutscher Produktion benötigt." Hilfreich sei zudem der schwächelnde Euro, [...] "Die Amerikaner sind relativ preissensible Käufer, auch wenn es um Luxusprodukte wie deutsche Autos geht", // Germany & UK are energy dependent, especially after Desert Storm Energy project failed. UK need the bet on STEM and digital economy and knowledge economy, added value services that can be exported & leverage "British" brand. It can not compete against cheap energy fuelled China and USA! But it did nothing, UK has to even import Nurses and Doctors now! Thanks to short-sighted ideological dogmatic austerity & policy for established businesses. low corp tax & deregulation to compete w price only.
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august 2015 by asterisk2a
How China's economic slowdown could weigh on the rest of the world | World news | The Guardian
[debt fuelled recovery ] // In the year to July, China's customs agency reports that imports from Australia are down by $15bn dollars on the same period last year - a loss which is already equal to 1% of Australia's GDP, and many other countries stand to lose out to similar degrees. China's imports overall are down by 14.6% over 2015. Find out what happens if this decline continues for the rest of the year - or worsens - and how that loss compares to each country's GDP
China  2015  Europe  USA  globalization  visualisation  visualization  global  trade  global  economy  global  imbalances  faultlines  IMF  OECD  Developing  World  emerging  middle  class  emerging  market  Frontier  Markets  trade  deficit  trade  balance  economic  history  GFC  reflate  reflation  recovery  economic  damage  economic  model  macroeconomic  policy  economic  growth  complexity  unknown  unkown  unintended  consequences  ZIRP  NIRP  QE  liquidity  trap  Richard  Koo  developed 
august 2015 by asterisk2a
What is the 'gig' economy? | FT Comment - YouTube
human capital, HR - as cost center. // trading short-term competitiveness (kick ppl of the book according to demand) but trade it in aggregate with long-term social deprivation and skill gaps and underinvestment. because of dog eat dog mentality than you are incentivised to compete on price, because it is the easiest and you are able to to it with those neoliberal labour reforms in Europe. Don't compete with Amazon on price. Don't compete with China/Asia on price. Stupid.
Gig  Economy  1099  Economy  Zero  Hour  Contract  freelancing  freelance  part-time  Contractor  working  poor  precarious  work  uncertainty  squeezed  middle  class  Sozialer  Abstieg  neoliberalism  neoliberal  21stcentury  job  creation  job  market  labour  economics  labour  market  manual  labour  Service  Sector  Jobs  on-demand  convenience  western  world  Zeitarbeit  Leiharbeit  Europe  UK  USA  Germany  capitalism  human  capital  conglomerate  social  safety  net  Universal  Basic  Income  self-employment  tax  credit  poverty  trap  poverty  in  old  age  savings  rate  Policy  Makers  lobbyist  lobby  Lobbying  folly  error  short-term  thinking  short-term  view  meritocracy  meritocratic  Alain  de  Botton  work  environment  philosophy  chronic  stress  Precariat  Future  of  Mobile  Creatives  Mobile  Creative  profit  maximisation  shareholder  value  Workers  Union  Wall  Street  budget  deficit  OECD  IMF  lost  generation  lost  decade  professional  education  vocational  education  education  unintended  consequences  skills  gap  skill-biased  technological  change  Software  Is  Eating  The  Niedriglohnsektor  microeconomic  macroeconomic  deprivation  Perspective  hopelessness  voter  turnout  Career 
august 2015 by asterisk2a
Japan Exports Its Way to Irrelevance - Bloomberg View
[ Politicians as always will react with reactionary unimaginative policy, competing for the same pie. instead of enabling, supporting new pies to be created. ] But Abe needs to recognize, as China already has, that this is only the latest sign of a broader reality: Asia's old export model of economic growth no longer works. [...] All the stimulus BOJ Governor Haruhiko Kuroda can muster won't change the worsening trajectory of the region's most-populous nation. That's why Abe needs to take a page from Beijing and focus more on creating new industries at home. [ the base of home grown new market/category/vertical also includes sound middle class to buy those products. demand at home. social safety net (security). and less inequality. progressive taxation. fight tax evasion/avoidance, monopoles, monopsonies, bribery, corruption. and politicians making policy for lobby. ]
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august 2015 by asterisk2a
Germany’s bizarre version of capitalism—where bosses and workers actually cooperate—is winning - Quartz
via - http://redd.it/3ge85e // In recent years, some countries have tried to copy elements of German capitalism. With youth unemployment near 50%, Spain is looking to boost German-style apprenticeship programs. France is experimenting with measures that allow unionized companies to cut working hours and preserve jobs during downturns. Britain wants to build a Mittelstand of its own. So far, none have transformed these economies. And they likely won’t. German policies function well because they are designed to work in the context of the German economy, where institutions like trade unions and industry associations have proven uniquely effective at coordinating wages and production over time. “That structure is built up over decades if not centuries,” says Hall, of Harvard. “So countries can’t immediately emulate it.” [...] To be sure, the German system isn’t perfect.
Germany  fiscal  policy  macroeconomic  policy  microeconomic  policy  industrial  policy  economic  history  European  Workers  Union  neoliberalism  neoliberal  squeezed  middle  class  hartz-iv  ALG2  working  poor  Zeitarbeit  Leiharbeit  crony  capitalism  capitalism  Wall  Street  shareholder  value  profit  maximisation  shared  economic  interest  long-term  view  long-term  thinking  Mittelstand  SME  SMB  precarious  work  Minijob  Aufstocker  Service  Sector  Jobs  job  creation  Zero  Hour  Contract  Contractor  self-employment  Exportweltmeister  Lohnzurückhaltung  lohndumping  Blue-collar  Worker  White-collar  Worker  Sozialer  Abstieg  poverty  trap  social  mobility  income  mobility  Agenda  2010  competitive  competitiveness 
august 2015 by asterisk2a
Global economic growth to slow, NIESR predicts - BBC News
'Domestic risk' While NIESR was generally upbeat about the UK economy, it believed that weak productivity would remain a challenge. Simon Kirby, an economist at the institute, said: "It's the major domestic risk." NIESR expects inflation to remain about zero until the end of the year due to low oil prices and the strong pound, but that it will return to the Bank of England's target of about 2% a year by 2017. The think-tank expects the Bank of England to finally raise interest rates in February next year. Economists polled by Reuters last month mostly expect the Bank to raise rates in the first quarter of 2016.
UK  2015  recovery  deflationary  deflation  secular  stagnation  productivity  output  gap  fiscal  policy  austerity  fiscal  stimulus  industrial  policy  George  Osborne  short-term  thinking  short-term  view  budget  deficit  current  account  deficit  David  Cameron  Tories  dogma  ideology  Career  Politicians  No  Representation  Taper  STEM  policy  folly  policy  error  Makers  education  policy  microeconomic  policy  macroeconomic  policy  globalisation  globalization  flat  world  borderless  job  creation  Service  Sector  Jobs  precarious  work  Zero  Hour  Contract  Contractor  Niedriglohnsektor  minimum  wage  living  wage  Manufacturing  added  value  value  creation  ecosystem  vocational  education  professional  education  apprenticeships  competitive  competitiveness  competitive  advantage  neoliberalism  neoliberal  Lohnzurückhaltung  disposable  income  discretionary  spending  working  poor  squeezed  middle  class  Precariat 
august 2015 by asterisk2a
UK interest rate rises - waiting for lift-off | Business | The Guardian
In 2018 – by when, bear in mind, most of the work of austerity is expected to have been done – Miles calculates that fiscal consolidation will still drag interest rates downwards by more than 0.75% compared to what would otherwise be the case. This is one of the factors explaining the (commonly held) assumption that interest rates will approach a “new normal” over the next few years that is likely to be about half as high as the 5% that prevailed pre-financial crisis. Even in the second half of the parliament this “fiscal headwind” will still be blowing strong. [...] The case for introducing more transparency isn’t mere technocratic trimming. The balance struck between monetary and fiscal policy has big consequences. There are obvious distributional implications (all else equal, mortgage holders win; savers lose). There are ramifications too for the capital allocation process, the current account, and the risk of an asset-bubble. The list goes on: the macro-mix matters.
BOE  Taper  austerity  fiscal  policy  monetary  policy  ZIRP  NIRP  QE  UK  economic  history  recovery  fiscal  stimulus  monetary  stimulus  Mark  Carney  2015  balance  sheet  recession  debtoverhang  deleveraging  savings  rate  consumer  debt  sovereign  debt  crisis  household  debt  debt  monetisation  debt  monetization  private  debt  credit  card  mortgage  market  discretionary  spending  disposable  income  macroeconomics  macroprudential  policy  macroeconomic  policy  microeconomic  policy  current  account  deficit  Makers  policy  folly  policy  error  Career  Politicians  No  Representation  short-term  thinking  short-term  view  David  Cameron  George  Osborne  IMF  OECD  Toff  dogma  ideology  neoliberalism  neoliberal  fairness  Establishment  Privileged  asset  bubble  hunt  for  yield  asset  allocation  speculative  bubbles  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  housing  market  affordable  housing  STEM  education  policy  industrial  policy  globalization  globalisation  competitiveness  competitive  competition  competitive  advantage  London  Westminster  distortion 
august 2015 by asterisk2a
UK economic growth figures to ignite interest rate debate | Business | The Guardian
Recent business surveys have suggested household spending remains the main engine of growth despite the government’s long-standing vow to rebalance the economy towards more manufacturing and exports. [...] “Services output should do most of the legwork,” said Hare. “The GDP print is likely to point to a two speed economy, with services buoyed by solid domestic demand, while manufacturers suffer from the strong pound.” [...] Economists are divided over the extent to which households can continue to power the recovery, especially with another round of government cuts on the way. [...] “Consumers in the UK are feeling ever more confident. Wage inflation is starting to outstrip price inflation for the first time in years, while mortgage rates are at historically low levels and unemployment has generally been falling,” said Nielsen’s UK & Ireland managing director, Steve Smith.
recovery  UK  Taper  2015  economy  zombie  consumer  consumer  confidence  consumer  debt  household  debt  credit  card  debtoverhang  private  debt  budget2015  austerity  consumption  job  creation  job  market  Niedriglohnsektor  Niedriglohn  Service  Sector  Jobs  fiscal  policy  macroprudential  policy  microeconomic  policy  macroeconomic  policy  monetary  policy 
july 2015 by asterisk2a
SNP takes to opposition seats after blasting Labour for welfare bill stance | Politics | The Guardian
bbc.in/1LrYIr3 &! bit.ly/1IaWfuj - Labour’s welfare confusion mirrors society’s wider dilemmas - Divisions within the party reflect the fact the rhetoric of hostility to austerity is not enough but the range of options is small // &! bit.ly/1Lrf5UR - Labour’s capitulation on welfare reveals the vacuum in its soul - The leadership’s failure to oppose benefit cuts is a misreading of the electoral runes and a damaging revelation that the party has nothing positive to say
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july 2015 by asterisk2a
Draw up 40% cuts plans, George Osborne tells Whitehall departments - BBC News
The Treasury said "large savings" would be required of unprotected departments, which have been asked to model two scenarios: of 25% and 40% cuts to their budgets by 2020. The BBC's economics editor Robert Peston said what was being proposed would require a reinvention of some services taken for granted by the public. Mr Osborne has already unveiled £12bn of welfare savings plus £5bn of tax avoidance prevention measures - which together with the £20bn of departmental spending cuts make up the £37bn figure earmarked to get government finances back in the black. [...] "It is incredibly bad economics to compare household finances and state finances." "This is the stuff of public-service reinvention, not efficiency." bbc.in/1TOnEdG [...] Spending limits will be set for government departments, which will also be asked to examine the way they manage their assets and consider privatisation and contracting out where necessary. [
austerity  George  Osborne  UK  budget2015  Public  Services  Social  Services  dogma  ideology  fairness  welfare  state  society  economic  history  recovery  macroeconomic  policy  microeconomic  policy  output  gap  productivity  education  policy  David  Cameron  Tories  Conservative  Party  Toff  Establishment  Privileged  Privatisation  outsourcing  corporate  state  corporate  media  media  conglomerate  neoliberalism  neoliberal  liberal  economic  reform  propaganda  populism  manufactured  consent  economic  model  trickle-down  economics  IMF  OECD 
july 2015 by asterisk2a
Sorry to burst your bubble | The Economist
bit.ly/1IfX0s9 // "According to two new papers, the crucial variable that separates relatively harmless frenzies from disastrous ones is debt." // see China Stock Market leverage pop mid 2015 - with its huge rise in margin debt trading ... money which was flowing out of the property market into the Stock Market // // &! so if it is about debt - UK mortgage market & consumer/private debt of all kind (loans and credit card debt) does qualify as they took up what was cut by austerity. Plus the Supply Demand distortion, with new builds/project at a decades lowest. // Question for China. The China problem. Can they make their system sustainable before it will crush everyone. // The most obvious is China. But the next one will be different & greater than all came before. Period. Still, UK had not a housing bubble collapse on its own making. Only through endogenous circumstances. UK recession as UK economy runs mostly on consumer sector & debt) bit.ly/1OpClSO bit.ly/1wQITjb bit.ly/1SycLtY
leverage  debtoverhang  equity  bubble  regulation  self-regulation  regulators  debt  servitude  consumer  debt  sovereign  debt  crisis  debt  bubble  Super  Cycle  household  debt  private  debt  economic  history  KennethRogoff  carmenreinhart  Greenspan-Put  ZIRP  NIRP  QE  margin  trading  margin  debt  asset  liquidity  economic  damage  asset  bubble  asset  allocation  distortion  behavioral  economics  behavioral  finance  mortgage  market  UK  credit  card  housing  market  property  bubble  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  fiscal  policy  monetary  policy  macroprudential  policy  sustainability  sustainable  NPL  zombie  banks  zombie  consumer  economic  model  economic  irrational  exuberance  macroeconomic  policy  economic  growth  debt  monetisation  reflation  debt  monetization  consumerist  consumerism  consumer  confidence  business  confidence  business  financial  financial  crisis  GFC  balance  sheet  recession  Richard  Koo  deleveraging  baddebt  non-performing  loan 
july 2015 by asterisk2a
The real truth about the 2008 financial crisis | Brian S. Wesbury | TEDxCountyLineRoad - YouTube
bankers are greedy & excess speculation, is the story. Fed controls short-term interest rate through interest rate setting/Fed meetings based on fundy of American economy, // NIRP (greenspan put) post dot.com, distorts market, decision makers decisions. housing bubble w help of NIRP after dot.com & home-ownership campaign in bush years (fiscal stimulus/subsidies) 2 push that "asset." Not "home" to live in. // banks got too big to fail (their balance sheet/lending book) as liabilities (toxic assets - real downside unknown (due to complexity and day to day changes during crisis years), like CDO/CDS etc) overtook book, overall, value. Banking being actually insolvent, but how insolvent one doesn't know. Thus bad bank idea. ACCOUNTING. // Paul Volker raised rates ... was able, because USA (private household, banks, corporates) were not in a balance sheet recession. Problem was endogenous. // Deregulation + Lax accounting contributed to GFC greatly, unable to value banks books.
GFC  economic  history  fractional  reserve  banking  financial  crisis  monetary  theory  systemicrisk  Greenspan-Put  NIRP  ZIRP  negative  real  interest  rate  interestrate  dot.com  reflation  reflate  balance  sheet  recession  deleveraging  debtoverhang  savings  rate  leverage  alangreenspan  greenspan  Ben  Bernanke  benbernanke  distortion  housing  market  accounting  too  big  to  jail  toobigtofail  TBTF  financial  market  financial  incentive  speculative  bubbles  speculative  speculation  hunt  for  yield  asset  allocation  asset  bubble  TARP  subprime  QE  stresstest  timgeithner  henrypaulson  economic  model  economic  damage  macroeconomic  policy  fiscal  policy  monetary  policy  history  paulvolcker  complexity  incomplete  information  business  confidence  consumer  confidence  confidence  banking  crisis  zombie  banks  mark-to-market  Janet  Yellen 
july 2015 by asterisk2a
Credit Booms & Credit Busts - YouTube
// financial cycle twice as long as business cycles (which is on top, like an inverted pyramid). // financial markets are not self-stabilising // better make policy on caution, that if you don't act you will cause more long-lasting economic damage by curbing one obvious bubble not in (ie uk property bubble - people who have difficulty serving their interest payment) // QE does not facilitate loan growth in times of balance sheet recession - Richard Koo // QE is reflationary and currency war, downside size unknown - look Richard Koo, state has to pick-up shortfall of demand // // There is now a growing consensus among policymakers and academics that a key element to improve safeguards against financial instability is to strengthen the “macroprudential” orientation of regulatory and supervisory frameworks. [Dr. Claudio Borio @ BIS], one could even say that “we are all macroprudentialists now”. And yet, a decade ago, the term was hardly used. What does it mean?
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july 2015 by asterisk2a
Inequality and the Challenge of Employment - New Economic Thinking - YouTube
intrinsic motivation, fairness, social animal - social comparison (is encoded into the brain) - status anxiety // self-interest mostly wins over ethics/moral values? // trust between principle & agent // org structure and inventive - ie bonus variable attracts more selfish people and risk takers // justice and fairness is critically important - not only in orgs but also democracies //&! Natural rate theory (equilibrium) - service sector jobs (unskilled manual labour jobs) w minimum wage and not higher. and flexible wages with no minimum wage (USA) create working poor/inequality. institutional change - economists are not just analysts they also affect policy makers (think tanks). // austerity hurts equality/social mobility = economic long-run damage to potential (thus output gap and productivity loss) - lack of supply of able workforce to create added value products & services. trickle-down not helping. //&! tax code unfair, lower capital gains tax than on earned (labour) income
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july 2015 by asterisk2a
The escape from the balance sheet recession and the QE trap: An interview with Richard Koo - YouTube
"deflationary" is a symptom of balance sheet recession, deleveraging, debtoverhang ... of the private sector, corporate sector (& public gov sector) (to repair balance sheet). inflation of price of goods 2 live is still existent. you cant eat laptops. inflation is still present. actions of private sector, corporate sector to repair balance sheet (and even public sector, all three together) is deflationary. // UK! interesting is that consumer still borrows ie via credit card and mortgages. // question is how long UK can run such a big current account deficit. somebody has to pay for it, if not the gov with debt, then it has to be the private sector. as long as it can serve debt payments, as long as it has wage growth (increase of productivity, closing of output gap). But job creation during recovery was mostly Service Sector Jobs & self-employment. Not added value STEM. // corporate sector will not, in the long-run, pay for current account deficit w debt. &! youtu.be/EhYvaMc3f44
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july 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
UK's inflation rate falls to 0% - BBC News
bit.ly/1IXuomp >> Carney: Current account deficit is a risk highlighted by FPC. UK is relying on the kindness of strangers to finance current account deficit. Household borrowing isn't driving the deficit Tighter fiscal policy is needed. Tighter macroeconomic policy is needed also. Deficit highlights importance of maintaining the attractiveness of the UK for foreign investment // &! bit.ly/1I07olT - BOE's Miles doesn't see secular stagnation in the UK [...] Carney - Health of the financial system is likely to boost productivity [really?] [...] McCafferty: Low income jobs have kept productivity low &! bit.ly/1JfaSxr - Bank is looking at the household sensitivity to rate rises [ mortgage bubble will prevent BOE to raise rates faster as demand stokes as more disposable income is spend on serving interest payments thus depressing GDP growth bc 70% of it is consumer spending ] &! bit.ly/1HtySg1
current  account  deficit  UK  Mark  Carney  austerity  fairness  sovereign  debt  crisis  ZIRP  NIRP  QE  unintended  consequences  unknown  unkown  asset  bubble  equity  bubble  property  bubble  George  Osborne  productivity  output  gap  industrial  policy  STEM  Higher  Education  added  value  fiscal  policy  Public  infrastructure  investment  recovery  economic  history  competitiveness  competitive  globalisation  globalization  flat  world  borderless  deflationary  deflation  secular  stagnation  zombie  banks  Service  Sector  Jobs  job  creation  job  market  labour  market  labour  economics  skills  gap  policy  vocational  working  poor  precarious  work  Precariat  squeezed  middle  class  Zero  Hour  Contract  Contractor  disposable  income  discretionary  spending  household  debt  Niedriglohn  Niedriglohnsektor  underemployed  self-employment  employability  part-time  mortgage  market  BOE  2015  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Manufacturing  fiscal  stimulus  Taper  USA  negative  real  interest  rate  interestrate  debt  servicing  interest  payment  consumer  debt 
july 2015 by asterisk2a
Osborne faces up to productivity challenge - BBC News
UK is 30% behind USA and Germany in terms of productivity. // most job creation was in service sector jobs / manual labour - no net new jobs stemming from productive investments in new technology/manufacturing/R&D ... the future. The Future is obviously not made in the UK. And stuff is not made what people use across the globe.
George  Osborne  UK  productivity  recovery  income  growth  living  standard  GFC  employment  labour  market  labour  economics  underinvestment  productive  investment  general  election  2015  Industrial  Revolution  2.0  Future  of  Work  Mobile  Creatives  Mobile  Creative  output  gap  Niedriglohnsektor  Service  Sector  Jobs  job  creation  microeconomic  policy  microeconomics  macroprudential  policy  macroeconomics  macroeconomic  policy  Makers  short-term  thinking  short-term  view  austerity  fiscal  policy 
may 2015 by asterisk2a
Britain needs a real manifesto for growth | Business | The Guardian
There is a chronic shortage of supply in transport, energy and housing. Roads, rails and airports are clogged; we are in danger of the lights going out due to low electricity capacity and pathetic rates of house building have generated stratospheric prices. Building infrastructure produces permanent economic gain, but provokes temporary political pain. Nimbies object to disruption and we have been reluctant to compensate them properly. So it’s no surprise that people use the archaic planning system to block and delay investment projects. Politicians find it easier to prevaricate and reverse their predecessors’ decisions and set up ad hoc celebrity reviews (e.g. the coalition’s bottling out of Heathrow expansion). When the time comes for spending cuts, investment is first on the chopping block because the economic bruises only come out years later. Political short-termism is mirrored by corporate myopia which holds back innovation. There remains a lack of competition in banking. ...
UK  productive  investment  underinvestment  austerity  IMF  recovery  infrastructure  investment  2015  David  Cameron  George  Osborne  Conservative  Party  education  policy  labour  market  labour  economics  productivity  output  gap  social  mobility  income  mobility  Gini  coefficient  inequality  income  inequality  income  growth  squeezed  middle  class  Industrial  Revolution  2.0  vocational  education  continual  education  tax  avoidance  tax  evasion  fairness  welfare  state  Services  Public  Services  social  safety  net  apprenticeships  tax  credit  macroeconomic  policy  microeconomic  policy  fiscal  policy  fiscal  stimulus  neoliberalism  neoliberal  globalisation  globalization  competitiveness  competitive  competition  precarious  work  Precariat  working  poor  working  class  Zero  Hour  Contract  contractor  outsourcing  opportunist  Opportunism  short-term  thinking  short-term  view  Career  Politicians  investment  banking  1%  Privileged  Establishment  Toff  No  Representation  policy  error  policy  folly  Germany  Schuldenbremse  Pact  Wolfgang  Schäuble  Angela  Merkel  retraining  on  job  training  John  Van  Reenen 
may 2015 by asterisk2a
Naomi Klein on Global Neoliberalism - YouTube
history doesn't repeat, but it rhymes // use of crisis for political ends // crisis is required to push through those policies // effect - rise if inequality - gini coefficient // history shows - capital flight // net capital flight out of UK from 2008-2015 !? // mixed economy ! // Naomi Klein and Joseph Stiglitz on Economic Power - youtu.be/qkErO-TwOeo &! Naomi Klein, Raj Patel, Amy Goodman: Crisis Capitalism - youtu.be/8Ji_8tI0sbY youtu.be/wmHOj0FT5l0 &! Joseph Stiglitz (2014) - Why Capitalism is Failing - youtu.be/b7wIw1VNjSk &! [Chrystia Freeland] Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else (Full Session) - youtu.be/S9LIVa3WVPo --- GFC did not end plutocracy (Fortune/Forbes list) it propelled them - QE, bailouts, NIRP etc - it was a recovery for the 1% - Carlos Slim is richest person ever lived (based on labour cost/hr of home country). &! Matt Taibbi and Chrystia Freeland on the One Percent's Power and Privileges - youtu.be/rvIM6-BGx8I
Naomi  Klein  neoliberal  neoliberalism  PIGS  austerity  Wasserprivatisierung  Privatisation  liberal  economic  reform  IMF  USA  economic  history  World  Bank  trickle-down  economics  Troika  sovereign  debt  crisis  Gini  coefficient  inequality  Wall  Street  book  welfare  state  social  safety  net  Services  Public  Services  welfare  GFC  UK  fiscal  policy  policy  folly  policy  error  Davos  Makers  Career  Politicians  microeconomic  policy  macroeconomic  policy  economic  model  economic  damage  oligarchy  plutocracy  Super  Rich  1%  Establishment  Privileged  income  inequality  capital  gains  squeezed  middle  class  working  poor  globalisation  globalization  flat  borderless  precarious  work  Precariat  contractor  Zero  Hour  Contract  Leiharbeit  Zeitarbeit  Minijob  Werkvertrag  recovery  No  Representation  Industrial  Revolution  2.0  oligopoly  oligopol  crony  capitalism  rent-seeking  rentier  human  capital  income  growth  social  mobility  income  mobility  meritocracy  meritocratic  lobbyist  lobby  Lobbying  revolving  door  tax  evasion  tax  avoidance  political  economy  ethical  beliefs  ethical  machine  moral  beliefs  profit  maximisation  shareholder  value  American  Dream  Great  Gatsby  curve  intellectual  honesty  social  tension  social  working  class  Egalitaria 
may 2015 by asterisk2a
Rt Hon David Blunkett MP | Where Next for Welfare? - YouTube
helping people to cope w change in the labour market, enabling to succeed in a changing labour market. // instead one is exposed to the downward spiral of long-term unemployment, instead of enabling social mobility and income (and personal) growth // throwing away human capital // we inherit what we seed - you reap what you sow // min 24 - getting corporate entities to pay their fair share of tax // min 30 - honest system // psychology of welfare, the right way // min 55 investing in people, personal advisor // tax credit for on the job training/on-boarding of long-term unemployed, dual system (education & job), apprenticeships paying living wage // corporates get subsidies, why does an employee can't get that - helping to compete in this labour market // &! Welfare: When does the State say no? | 18.06.2013 - youtu.be/aBo-1WVu2YE // // &! [Labour] Alan Milburn: Education’s role in promoting social mobility - youtu.be/-sTuE2X99G4 - https://www.gov.uk/government/people/alan-milburn
welfare  welfare  state  social  safety  net  Public  Services  Services  labour  market  labour  economics  vocational  education  education  policy  practical  skills  practical  skill  set  apprenticeships  austerity  hartz-iv  ALG2  Germany  UK  IMF  economic  history  policy  error  short-term  thinking  short-term  view  policy  folly  Career  Politicians  Conservative  Party  microeconomic  policy  macroeconomic  policy  job  creation  job  market  underemployed  long-term  unemployment  long-term  view  long-term  thinking  David  Cameron  economic  damage  income  growth  fear  solidarity  social  cohesion  social  tension  competitiveness  competitive  competition  on  job  training  social  mobility  downward  mobility  income  mobility  human  capital  gesellschaft  stereotype  Gini  coefficient  inequality  2015  child  care  tax  credit  low  income  working  poor  precarious  work  Precariat  Proletariat  self-employment  income  distribution  income  inequality  income  redistribution  Super  Rich  1%  fairness  unrecht  budget  deficit  tax  evasion  tax  avoidance  loopholes  No  Representation  Establishment  Privileged  Toff  continual  education  child  poverty  food  poverty  poverty  moral  beliefs  ethical  beliefs  corporate  culture  corporate  values  paid  maternity  leave  sickness  benefits  paid  paternity  leave  HR  human  resources  Disabled  employability  youth  unemployment  structural  unemployment  tax  code  tax  free  income  living  wage  minimum  wage  society  disposable  income 
may 2015 by asterisk2a
Where Next for the UK Economy? | 24.02.2015 - YouTube
min 37 BOE owns over 1/3 of outstanding gilts // pattern of global demand ([luxury, vanity, status, brand], [convenience, on-demand,] [software, automation, robots, driving down manual labour cost - corporate/wall street] [connection with your customer] [Data] // GDP growth (national income, profits from corp) outpaced income growth (income from labour). is double // austerity, fiscal policy: to force a surplus of the budget (and current account/balance of payments) over 10 year time frame (2x conservative parliament) without thinking where the demand comes from (income growth thus more disposable income thus consumer &* business demand (more employment), thus higher tax revenue). And only thinking about cutting, is a Career Politician move, sticking 2 his talking points of Plan A. // dont compete w BRIC/Developing/Frontier Market on price (exporting). It's a race to the bottom, it can not work. Thus it has to be Industrial Revolution 2.0 !!! Differentiate. Brand. Being Remarkable.
BOE  QE  ZIRP  NIRP  productivity  income  growth  GDP  distortion  trade  deficit  balance  of  payments  current  account  deficit  economic  history  IMF  Career  Politicians  Industrial  Revolution  2.0  Conservative  Party  David  Cameron  Liberal  Democrats  Nick  Clegg  George  Osborne  globalisation  globalization  borderless  flat  world  Brand  differentiate  differentiation  Software  Is  Eating  The  Mobile  Creatives  Mobile  Creative  Start-Up  lesson  Start-Up  advice  UK  Europe  Germany  USA  China  BRIC  monetary  policy  fiscal  policy  macroeconomic  policy  microeconomic  policy 
may 2015 by asterisk2a
Macroeconomics Causes of Inequality - YouTube
"consumption drives much of the economy" // free up disposable income >> free child care, health care, limit exploitation of financial illiterate people (% interest on pay day loans, overdraft charges, dispo), public services, social services, pension contribution by state (preventing poverty at old age), tax credits for low income and children and carers, free education and vocational education/continual education - enabling to move up the ladder, // min11 - secular stagnation post GFC compared to previous recessions in terms of real household demand (balance sheet recession, debt overhang, deleveraging (debt repayment), and lack of new issuance of consumer credit I guess, too + rising income equality! lower redistribution from top to bottom (fair taxation) reduces recycling of income (freed up by policy items above) into demand. // min 18 - top 5% society (luxury, vanity, status) takes over bottom 80% society in aggregate terms of consumption. Economy driven by WHOM?! Affluent!
income  inequality  inequality  social  mobility  income  mobility  vocational  education  education  policy  Gini  coefficient  Makers  squeezed  middle  class  middle  class  working  poor  precarious  work  Precariat  savings  Proletariat  economic  model  trickle-down  economics  macroeconomic  policy  economic  growth  Super  Rich  1%  tax  free  income  Universal  Basic  tax  credit  tax  code  tax  avoidance  tax  evasion  consumption  consumerist  consumer  credit  creation  budget  deficit  exploitation  shareholder  value  Niedriglohn  Niedriglohnsektor  Lohnzurückhaltung  lohndumping  Zeitarbeit  Leiharbeit  Zero  Hour  Contract  productivity  Werkvertrag  disposable  income  discretionary  spending  contractor  outsourcing  fairness  unrecht  bailout  Career  Politicians  gender  pay  gap  policy  folly  policy  error  Soziale  Marktwirtschaft  working  class  Blue-collar  Worker  White-collar  Worker  knowledge  GFC  debtoverhang  balance  sheet  recession  liquidity  trap  deleveraging  secular  stagnation  austerity  UK  USA  economic  history  recovery  fiscal  policy  fiscal  stimulus  Schuldenbremse  Pact  Western  World  Europe  deflationary  consumer  debt  consumer  confidence  dot.com  Privileged  Establishment  convenience  on-demand  innovation  Silicon  Valley  wealth  distribution  income  distribution  income  growth  income  gap  redistrib 
may 2015 by asterisk2a
TTIP - How We're Lied To About Food: Russell Brand The Trews (E179) - YouTube
& http://youtu.be/hbOb0kpYUTo // power corrupts and absolute power corrupts absolutely = TTIP, CETA, Montanto Protection Act, exluding accountability and liability for corporate action/doing/products. = two tier justice system = inequality, no fairness, Gerechtigkeit, ... this equals to the Bailouts and TBTF and too big to jail.
TTIP  worldtrade  global  trade  trade  agreeement  trade  treaty  local  farming  food  waste  Industrial  livestock  farming  Factory  profit  maximisation  Wall  Street  sustainability  sustainable  crony  capitalism  Lobbying  lobbyist  lobby  Career  Politicians  Policy  Makers  folly  monoculture  monocrop  unintended  consequences  error  agriculture  macroeconomic  microeconomic  accountability  Political  Governance  corporate  Democratic  Process  democracy  transparency  oversight  Consumer  Protection  Monsanto  Protection  Act  protectionism  Europe  CETA  liability  Black  Swan  trust  trustagent  confidence  No  Representation  Justice  System  Law  &  Justice  Gerechtigkeit  Gini  coefficient  inequality  fairness  TBTF  too  big  to  jail  Bailout  GFC 
november 2014 by asterisk2a
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