asterisk2a + sovereign   745

Italy’s €360 billion referendum – POLITICO
Italy’s banking system is staggering under €360 billion in bad loans. Almost any outcome that destabilizes Italian politics would send tremors through the country’s rickety financial system. While the long-term consequences could be dramatic — in a worse case scenario perhaps leading to the collapse of the eurozone — the first victims could be efforts to rescue two of Italy’s largest lenders.
non-performing  NPL  bad  bank  Italy  Referendum  Renzi  contagion  European  Union  systemicrisk  sovereign  debt  crisis  GFC  economic  history  recession  recovery  Austerity  ECB  Banking  Supervision  MarioDraghi  Greece  Spain  Portugal  PIGS  UK  exposure  bailout  bail-in  bailin  recapitalization  recapitalisation 
november 2016 by asterisk2a
Are we heading for another slump? - Michael Roberts, John Bellamy Foster and Joseph Choonara - YouTube
Michael Roberts book // lack of profit, due to lack of growth (outlook), thus lack of investment. ... less competition. +++ winner take all/globalisation/conglomerate +++ erosion of purchasing power +++ no to little wage (income) growth, if at all due to credit card, car load, mortgage, student loan, ... === less demand. === deflation pressures // less profits = more profit maximisation = lay-offs and destruction of union, bogus contracts via forced self-employment (thus saving on social security payments). = and outsourcing in next cheaper country.
ouput  gap  productivity  secular  stagnation  UK  USA  underemployed  underinvestment  recovery  austerity  bank  bailout  banking  crisis  economic  history  capitalism  in  crony  GFC  Sovereign  debt  wage  growth  squeezed  middle  class  working  poor  neoliberal  neoliberalism  deflation  deflationary  monetary  policy  fiscal 
september 2016 by asterisk2a
Müllers Memo: Die Globalisierung darf nicht scheitern - SPIEGEL ONLINE
Das alte Spiel ist im Gange. Ein Land versucht sich Vorteile im internationalem Wettbewerb zu verschaffen. Andere Länder ergreifen Gegenmaßnahmen - und schießen dabei nicht selten übers Ziel hinaus. Bis die nächste Reihe von Handelshürden errichtet wird.
neoliberal  neoliberalism  G20  Free  Trade  TTIP  TTP  NAFTA  CETA  Chicago  School  neoclassical  globalisation  globalization  deregulation  liberal  economic  reform  Centrist  Centrists  Brexit  Donald  Trump  AfD  Front  National  Protectionism  recovery  GFC  bank  bailout  sovereign  debt  crisis  confidence  fairy 
september 2016 by asterisk2a
Mecklenburg-Vorpommern: SPD gewinnt, AfD vor CDU, Grüne, FDP und NPD draußen - SPIEGEL ONLINE
Mit 30,6 Prozent hat die SPD die Wahl in Mecklenburg-Vorpommern gewonnen. Die AfD zieht mit 20,8 Prozent als zweitstärkste Kraft ins Landesparlament. Grüne, FDP und NPD scheitern an der Fünfprozenthürde. //&! Das war mehr als eine kleine Landtagswahl, das war eine Merkel-Wahl: Ein Proteststurm hat die CDU im Nordosten hinter die AfD abrutschen lassen. Ein Debakel für die Kanzlerin. - bit.ly/2bQnapM & bit.ly/2bOLOKf & mehr voter turnout - bit.ly/2c4LV1N & bit.ly/2bWnult & bit.ly/2c0Ix5d & bit.ly/2cAcZbL
AfD  Angela  Merkel  Centrist  Centrists  CDU  CSU  SPD  protest  vote  Brexit  Donald  Trump  Front  National  Germany  European  Union  far-right  Rechtsruck  right-wing  Precariat  working  poor  poverty  squeezed  middle  class  Agenda  2010  neoliberal  neoliberalism  bank  bailout  GFC  PIGS  sovereign  debt  crisis 
september 2016 by asterisk2a
How did Hitler rise to power? - Alex Gendler and Anthony Hazard - YouTube
betrayed by politicians. jews got the blame partially and the established politicians / and left wing weak by internal squabbles. / exploiting peoples fear, uncertainty, anger and calls for change from the status quo
Brexit  WW2  Adolf  Hitler  history  Donald  Trump  AfD  UKIP  Front  National  Rechtsruck  right-wing  far-right  Career  Politicians  Centrists  Centrist  UK  USA  European  Union  globalisation  globalization  France  GFC  bank  bailout  Sovereign  Debt  Crisis  Austerity  Fiscal  Pact  Schuldenbremse 
august 2016 by asterisk2a
After the Crisis - Mark Blyth - YouTube
this time is different - not the great depression - this time it is about inequality.
Mark  Blyth  book  economic  history  credit  boom  bubble  inequality  Sovereign  Debt  Crisis  bank  Bailout  GFC  European  Union  Brexit  far-right  right-wing 
august 2016 by asterisk2a
Want to avoid recession? Then shower UK households with cash | Simon Jenkins | Opinion | The Guardian
Just give people the money. Give them cash, dole it out, increase benefits, slash VAT, hand it to those most likely to spend it: the poor. Put £1,000 into every debit account. Whatever you do, don’t give it to banks. They will just hoard it or use it to boost house prices.
Helicopter  Money  Brexit  Austerity  QE  ZIRP  NIRP  recovery  bank  bailout  GFC  Sovereign  Debt  Crisis 
august 2016 by asterisk2a
Mark Blyth at E.Y.W.T.K.B.N.H.D.T.A. By ThePressProject - YouTube
from this point on, summer 2016, hope is that it can get only better. // it is remarkable Greece is still alive // problem is, that banks were only bailed out to a level of zombie banks. see non-performing loans. zombie banks in PIGS country and Deutsche Bank. Contagion. ... banks will languish on as long as economy languishes on; https://soundcloud.com/theeconomist/money-talks-stressed-out-banks
Mark  Blyth  Greece  PIGS  sovereign  debt  crisis  bank  bailout  GFC  Political  Class  Centrist  Centrists  Austerity  leverage  ESM  secular  stagnation  Fiscal  Pact  Schuldenbremse  Wolfgang  Schäuble  Angela  Merkel 
august 2016 by asterisk2a
IMF's own watchdog criticises its handling of eurozone crisis
Fund was over-optimistic, failed to spot scale of problem and gave impression it was treating Europe differently, says report
Troika  PIGS  Greece  Grexit  Yanis  Varoufakis  IMF  austerity  economic  history  Germany  Angela  Merkel  Wolfgang  Schäuble  liberal  economic  reform  ChristineLagarde  zombie  bank  zombie  banks  contagion  bank  bailout  sovereign  debt  crisis  European  Union 
july 2016 by asterisk2a
Deutsche Bank Loves Helicopter Money: Why "Big Inflation Is Coming... But Will First Require A Crisis"
[NEED FOR CHANGE OF WIND - deflationary pressures ] Europe is another story. Germany must let their southern neighbors cheat on deficits and bank recapitalizations. “Spanish election showed if you let them cheat and growth surprises positively then extremists don’t do so well. Europe can only survive as an inflation zone. Will it be formally tolerated? Probably not. Will governments cheat anyway with ECB support?” Probably.
Deutsche  Bank  Italy  PIGS  sovereign  debt  crisis  austerity  Germany  Fiscal  Pact  Schuldenbremse  ECB  MarioDraghi  BuBa  Jens  Weidmann  Wolfgang  Schäuble  Angela  Merkel  zombie  zombie  banks  Richard  Koo  Helicopter  Money  monetary  policy  monetary  stimulus  policy  monetary  theory  deflation  deflationary  Brexit  European  Bank  Supervision  BaFin  BOE  BOJ  Abenomics  right-wing  far  right  far-right  Front  National  AfD  UKIP  Centrist  recovery  income  distribution  income  inequality  Gini  coefficient  squeezed  middle  class  Precariat  working  poor  globalisation  globalization  Paul  Mason  crony  capitalism  capitalism  in  crisis  tax  evasion  tax  avoidance  poverty  poverty  trap  social  mobility  income  mobility  wage  stagnation  wage  growth  wage  pressure  income  growth  GFC  economic  history  liquidity  trap  balance  sheet  recession  debt  overhang  household  debt  consumer  debt  credit  card  credit  card  debt  western  world  secular  stagnation  non-performing  loan  bail-in  bailout  recapitalization  recapitalisation  UK  Japan 
july 2016 by asterisk2a
EU finance ministers get tough with Italian bank trying for third bailout
EU rules forbid troubled Tuscan bank Monte dei Paschi from receiving state aid, but its collapse would cause a political crisis for prime minister Matteo Renzi [...] a move that would need Brussels to break new rules designed to prevent such taxpayer bailouts after the 2008 global financial crisis. [... italy had a triple dip recession from 2008/9 counting ] //&! soundcloud.com/ft-world-weekly/italys-struggling-banks-pose-3 //&! Banks missold products again, in part - bit.ly/29Fmboz //&! bit.ly/29H4VPD 360mrdEuro NPL &! bit.ly/29B0d6I &! bit.ly/2a1sfdI &! Bad Bank #2 to be set-up - bit.ly/2a9plpN [...] technical analysis - http://bit.ly/29VP2YI
Matteo  Renzi  Angela  Merkel  Wolfgang  Schäuble  European  Bank  Supervision  bailout  bailin  Italy  zombie  zombie  banks  non-performing  loan  austerity  recession  Germany  Deutsche  Bank  contagion  contamination  systemic  risk  systemicrisk  systemrelevant  systemrelevanz  BaFin  ECB  Basel  III  Basel3  stresstest  Jeroen  Dijsselbloem  sovereign  debt  crisis  economic  history 
july 2016 by asterisk2a
Bancopalypse 2.0 - Some Disturbing Figures From The Looming Financial Crisis | Zero Hedge
Well-capitalized banks are supposed to have double-digit capital levels while making low risk investments.

Deutsche Bank, on the other hand, has a capital level of less that 3% (just like Lehman), and an incredibly risky asset base that boasts notional derivatives exposure of more than $70 trillion, roughly the size of world GDP.

Even the IMF has stated unequivocally that Deutsche Bank poses the greatest risk to global financial stability.

And the IMF would be right… except for all the other banks.

Because, meanwhile in Italy, nearly the entire Italian banking system is rapidly sliding into insolvency.

Italian banks are sitting on over 360 billion euros in bad loans right now and are in desperate need of a massive bailout.

IMF calculations show that Italian banks’ capital levels are among the lowest in the world, just ahead of Bangladesh.
Deutsche  Bank  derivatives  financial  instruments  BaFin  BuBa  European  Bank  Supervision  Italy  Spain  stresstest  PIGS  zombie  zombie  banks  non-performing  loan  capital  reserves  ECB  MarioDraghi  sovereign  debt  crisis  economic  history  Wolfgang  Schäuble  Angela  Merkel  banking  union  systemic  risk  systemicrisk  systemrelevant  systemrelevanz  TBTF  toobigtofail  too  big  to  bail  too  big  to  fail 
july 2016 by asterisk2a
"Deutsche Bank Poses The Greatest Risk To The Global Financial System": IMF
via Keister Report - https://youtu.be/fbh3rndGDN8 // a Italian banking crisis could topple them. that is why they (their economist) called for a EU bank bailout (shore up). //&! IMF Warns Of "Global Contagion" From Italy's Bank Crisis; Forecasts Two-Decade Long Recession - http://bit.ly/29sFINn - [...] "Unless asset quality and profitability problems are addressed in a timely manner, lingering problems of weaker banks can eventually weigh on the rest of the system," //&! http://www.zerohedge.com/news/2016-07-09/charting-epic-collapse-worlds-most-systemically-dangerous-bank //&! Analyst Warns Deutsche Bank's Problems May Now Be "Insurmountable" - http://bit.ly/29LwUjv - [...] we believe DBK is still over 40x levered. [...] Seeking outside capital is also likely to be difficult as management would likely find it hard to offer any type of return on new capital invested. //&! its known balance sheet - http://bit.ly/29usGKG - 1.74 trillion balance sheet!
Italy  Germany  derivatives  Deutsche  Bank  BuBa  BaFin  Wolfgang  Schäuble  Angela  Merkel  investment  banking  systemic  risk  systemicrisk  systemrelevant  systemrelevanz  European  Bank  Supervision  stresstest  contagion  repo  trust  sovereign  debt  crisis  PIGS  Greece  Brexit  non-performing  loan  zombie  banks  zombie  austerity  secular  stagnation  recession  ECB  MarioDraghi  ZIRP  NIRP  QE  hunt  for  yield  asset  allocation  distortion  OMT  LTRO  Basel  III  Basel3  leverage  banking  union  Bank  Oversight  banking  crisis  banking  system  interbank  lending  overnight  deposit  facility 
july 2016 by asterisk2a
Brexit und Italien-Krise: Euro-Gruppen-Chef schließt neue Bankenrettung aus
[ EXPOSURE TO ITALY BANKS ] Euro-Gruppen-Chef Jeroen Dijsselbloem lehnt ein neues Bankenrettungsprogramm ab. "Die Probleme müssen in den Banken geregelt werden", sagte der Niederländer beim Treffen der Eurofinanzminister am Montag in Brüssel. Die Einfachheit, mit der einige Banker mehr öffentliche Gelder forderten, um ihre Probleme zu lösen, sei problematisch. "Das muss ein Ende haben." // http://www.welt.de/finanzen/article156924408/Deutsche-Bank-Chefoekonom-fordert-150-Milliarden.html - Der Kursrückgang bei Bankaktien sei nur das Symptom eines viel größeren Problems, nämlich einer fatalen Kombination aus schwachem Wachstum, hohen Staatsschulden und einer Nähe zur gefährlichen Deflation.
contagion  European  integration  banking  union  Wolfgang  Schäuble  Italy  Germany  repo  Brexit  secular  stagnation  austerity  ECB  European  bank  bailout  systemic  risk  systemicrisk  systemrelevant  systemrelevanz  European  Supervision  reflate  reflation  bank  restructuring  Oversight  MarioDraghi  Mark  Carney  trust  interbank  lending  interbank  market  overnight  deposit  facility  deflation  deflationary  sovereign  debt  crisis  PIGS  Greece  Angela  Merkel  UK  economic  history 
july 2016 by asterisk2a
Alan Greenspan on Brexit, U.S. Economy, and Inflation (Full Interview) - YouTube
UK out of Euro Currency but part of free trade single market was best option on table. // lack of leadership for political union and fiscal union aka ever closer union. not just currency and trade union (free trade). // GET AT THE ROOT ISSUE; productivity, ageing population (entitlement crisis), stagnant wages, secular stagnation = desperate population // European banks some still burdened by sov debt crisis/NPL (= zombie banks) & NIRP & QE & lack of uptake in business & consumer loans. // no back-up to the ECB (balance sheet) yet. what happens if the EURO stops being a hard currency? get Greece out, is a liability. // EU can not go on in Status Quo indefinitely. ie funding southern states. States have to get on course of economic harmony! everyone has to give up something! // Precariat/Squeezed Middle Class/Social Mobility = creates desperate people. // Entitlements are a legal issues. Productivity and Growth Rates can't fund entitlements. = There will be a crisis. // Career Politicians won't touch it. // History (look at M2) this environment ends up in inflation. not time or data.
European  Union  Brexit  fiscal  Political  Union  ECB  Alan  Greenspan  Fed  Yanis  Varoufakis  Janet  Yellen  PIGS  sovereign  debt  crisis  secular  stagnation  productivity  gap  disposable  income  discretionary  spending  ageing  population  current  account  deficit  budget  deficit  GFC  entitlement  spending  Abenomics  monetary  policy  fiscal  policy  pension  obligation  babyboomers  Baby  Boomers  immigration  NIRP  ZIRP  QE  economic  history  Germany  Angela  Merkel  BOE  Mark  Carney  rising  middleclass  squeezed  middle  class  working  poor  Precariat  populism  demagogue  demagogy  Donald  Trump  western  world  savings  rate  Gini  coefficient  social  mobility  income  mobility  triple-lock  pension  pension  fund  pension  scheme  democracy  Career  Politicians  politician  output  gap  M2  inflation  targeting  M3  commodity  prices  global  economy 
june 2016 by asterisk2a
This Sceptic Isle Peter Hitchens Explains why Britain should leave the EU
"UK is finished" - Owen Jones meets Peter Hitchens - full length - https://youtu.be/wrwuk6NoMv8 //&! The EU is the Continuation of Germany By Other Means (Peter Hitchens) - youtu.be/LyaD_e72FRw //&! Peter Hitchens: Why I Changed My Mind (Radio 4, 25/5/16) - youtu.be/RAHxlwr3Fzo //&! Immigration and Multiculturalism. (Peter Hitchens) - youtu.be/VoH6dKX3bNM //&! "European elites drew wrong conclusion after WWII". (Mark Steyn) - youtu.be/Uk5I9DNnPhk - is also a climate sceptic. //&! Peter Hitchens - Panel on Conservatism (Start the Week, BBC Radio 4). Peter Hitchens with Margo James, Thomas Frank and Douglas Murray. - youtu.be/375WSnWEn-I
Brexit  multiculturalism  immigration  European  Union  sovereignty  sovereign  Brussels  democracy  demos  European  History  UK  economic  City  of  London  Peter  Hitchens  conservatism  Conservative  Party  Islam  Muslim  Islamic  Law  Sharia  Law  neoconservatism  neoconservatives 
june 2016 by asterisk2a
The Great Intelligence Squared Brexit Debate - YouTube
Stay Argument - acknowledgement that EU/Brussels is not perfect. but is it a reason to burn everything down and walk away? Westminster is not perfect either. The electoral system either (first past post, 24 something % of votes got Conservatives a majority in Westminster Parliament, while UKIP, other 24 something percent of votes, got just one seat in Westminster). Whitehall either.
Brexit  Nick  Clegg  European  Union  Whitehall  Westminster  Political  Union  sovereign  debt  crisis  immigration  austerity  Schengen  Agreement  Freedom  of  Movement  sovereignty 
june 2016 by asterisk2a
Chris Grayling dimisses concerns over economic impact of a Brexit
Yvette Cooper: Brexit won't prevent EU free movement to the UK - LIKE NORWAY CASE! - youtu.be/qa--kXGNhiE //&! IMF downgrade UK over Brexit fears - youtu.be/gfmVP3_TXNk - calling for fiscal stimulus!
Brexit  Chris  Grayling  Yvette  Cooper  liquidity  trap  secular  stagnation  fiscal  stimulus  IMF  OECD  austerity  2016  global  economy  China  credit  bubble  monetary  stimulus  aggregate  demand  aggregate  demand  short-fall  ZIRP  NIRP  QE  British  Pound  Sterling  Pact  Schuldenbremse  demographic  bubble  ageing  population  economic  history  recovery  sovereign  debt  crisis  PIGS  ChristineLagarde  George  Osborne  monetary  policy  Mark  Carney  BOE  ECB  MarioDraghi 
april 2016 by asterisk2a
A!104 – Panama Freaks
58:26 - spin doctor and positioning, PR. // es ist ja bekannt das intendanten des fernsehen mal einen anruf bekommen und es richtig stellen sollen, so wie inter BPK: illegal eingewanderte fluechtlinge. was ein oxymoron. ein fluechtling zu sein ist keine illegale sache! // + 10.000 kids missing! // 1:45:54 - Panama Papers. Journalists have for years papers. And don't use them to shine light on the organised system in the western world of tax evasion/avoidance! Wie fatal.
Panama  Papers  investigative  journalism  journalism  journalismus  tax  evasion  tax  amnesty  tax  avoidance  Turkey  International  spin  doctor  Positioning  PR  manufactured  consent  corporate  media  BPK  refugee  crisis  Greece  Brussels  Rechtsradikalismus  Rechtsextremismus  Rechtsradikale  Gewalt  Rechtsruck  Germany  Angela  Merkel  Asylbewerber  Völkerrecht  European  Union  Schengen  Agreement  political  refugee  war  refugee  Human  Rights  Act  Human  Rights  Watch  Human  Trafficking  sex  condition  decency  dignity  humanitarian  crisis  humanitarian  tragedy  Erdogan  Kurds  Middle  East  sex  trade  tax  loopholes  tax  loopoles  Career  Politicians  AfD  NPD  Agenda  2010  ALG2  neoliberal  neoliberalism  liberal  economic  reform  hartz-iv  squeezed  class  job  insecurity  working  poor  Precariat  Zeitarbeit  Leiharbeit  Minijob  1  Euro  Aufstocker  low  pay  low  income  minimum  wage  Soziale  Marktwirtschaft  bank  bailout  sovereign  debt  crisis  austerity  Fiscal  Pact  Schuldenbremse  recovery  GFC  economic  history  Super  Rich  1%  oligarchy  plutocracy  European  Election  2014  rechtsradikal  Fremdenfeindlichkeit  Ausländerfeindlichkeit  Xenophobia  Xenophobic  PEGIDA  Altersarmut  poverty  poverty  trap  poverty  in  old  age  poverty  c 
april 2016 by asterisk2a
IMF urges more spending to boost growth
Fund’s steering committee calls for more forceful stimulus and warns monetary policy alone is not enough //&! http://www.theguardian.com/business/imf //&! bit.ly/1V9pfhD - IMF chief: regulators long 'alarmed' over Panama's handling of taxation. Christine Lagarde responds to Panama Papers revelations, noting that authorities were concerned but did not take ‘expected’ action.
secular  stagnation  Panama  Papers  tax  evasion  tax  amnesty  tax  avoidance  corporate  tax  rate  labour  market  job  market  Service  Sector  Jobs  income  tax  receipts  budget2016  George  Osborne  David  Cameron  general  election  2015  general  election  2020  election  campaign  promises  Party  Funding  Richard  Koo  Confidence  Fairy  austerity  underinvestment  Generationengerechtigkeit  triple-lock  pension  fairness  Generation  Rent  Housing  Crisis  property  bubble  USA  UK  reflation  reflate  fiscal  policy  Pact  Schuldenbremse  Angela  Merkel  Wolfgang  Schäuble  GFC  sovereign  debt  banking  bank  bailout  job  creation  squeezed  middle  class  working  poor  disposable  income  discretionary  spending  IMF  OECD  credit  bubble  China  BRIC  recovery  Germany  economic  history  2016  Niall  Ferguson  budget  deficit  offshore  banking  investment  banking  TBTF  self-regulation  Greed  crony  capitalism  shareholder  capitalism  globalisation  globalization  global  economy  Oil  price  commodity  prices  ChristineLagarde  inequality  Gini  coefficient  income  mobility  social  mobility  low  pay  low  income  tax  credit  child  poverty  food  poverty  health  care  cost  health  care  demand  western  world  European  Union  Brussels  Brexit  Grexit  sick  population  health  economic  Union  Union  investment  policy  fiscal  me 
april 2016 by asterisk2a
Saudi Arabia Threatens To Liquidate Its Treasury Holdings If Congress Probes Its Role In Sept 11 Attacks
[...] But the threat is another sign of the escalating tensions between Saudi Arabia and the United States. [...] "Obama has been lobbying so intently against the bill that some lawmakers and families of Sept. 11 victims are infuriated. In their view, the Obama administration has consistently sided with the kingdom and has thwarted their efforts to learn what they believe to be the truth about the role some Saudi officials played in the terrorist plot." //&! http://www.zerohedge.com/news/2016-04-15/one-man-asks-why-was-tritium-found-911-ground-zero
9/11  Saudi  Arabia  gwbush  georgewbush  bush  China  Japan  USA  reserve  currency  USD  Dollar  petrodollar  Middle  East  Taliban  al-Qaeda  al-Qaida  osamabinladen  OPEC  sovereign  wealth  fund  geopolitics  diplomacy  barackobama  foreign  affairs  Intelligence  foreign  relations  War  on  Terror  Pakistan  India  Hegemony  arms  trade  UK 
april 2016 by asterisk2a
What Happens Next (In Europe)?
the odds of another crisis are higher than a rally to fresh records. [...]
“The 2009-2015 rally originated from two main drivers: a massive stimulus, and credit expansion in China,” said Goette, who’s a partner at his firm in Zug, Switzerland and helps oversee 1 billion Swiss francs ($1 billion).

“European earnings have not followed suit so far. Skepticism regarding central-bank operations has started to emerge.”
ECB  Brussels  recovery  reflate  reflation  China  credit  bubble  Germany  PIGS  zombie  banks  European  Bank  Supervision  European  Economic  Area  European  Election  2014  working  poor  squeezed  middle  class  Soziale  Marktwirtschaft  MarioDraghi  OMT  LTRO  monetary  policy  monetary  stimulus  Fiscal  Pact  Schuldenbremse  sovereign  debt  crisis  France  Brexit  Grexit  Angela  Merkel  Wolfgang  Schäuble  history  underinvestment  Richard  Koo  Yanis  Varoufakis  liquidity  trap  zombie  corporations  youth  unemployment  demographic  bubble  OAP  discretionary  spending  disposable  income  liberal  reform  Precariat  precarious  employment  low  pay  low  income  Minijob  Zeitarbeit  Leiharbeit  1  Euro  Job  Structural  Impediments  imbalance  unemployment  monetary  transmission  mechanism  monetary  union  union  Rechtsruck  Bundesbank  fault  lines  shareholder  capitalism  bailout  GFC  2016  PBOC  Exportweltmeister  zombie  Financial  Stability  Board  crony  capitalism  Deutsche  Bank  infrastructure  investment  competitiveness  Beton  Gold  Betongold  asset  allocation  Super  Rich  1%  oligarchy  plutocracy  democracy  tax  evasion  tax  avoidance  Wall  Street  shareholder  value  profit  maximisation  profit  maximization  Russia  Crimea  Ukraine  U 
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
Yanis Varoufakis Candid Interview - Shocking Disfunction and The Power Of Oligarchs
Europe will not survive next crisis. [...] end of interview - China looked after the rest of the world and especially Germany after 2009 (credit bubble) as USA looked after Germany in the 50's - Wirtschaftswunder. Now China is trying its best not to implode and fall below 5% of growth per annum. And now USA is trying to contest Asia (excluding China) economically and militarily through TPP and military increase in that region. //&! Yanis Varoufakis - Guardian Live - youtu.be/md6_WfF9Ky0
Grexit  Troika  IMF  oligarchy  plutocracy  Greece  corruption  bribery  Yanis  Varoufakis  Tsipras  referendum  Wolfgang  Schäuble  Angela  Merkel  Brussels  European  Union  Gold  Standard  economic  history  liberal  economic  reform  antitrust  cartel  tax  evasion  tax  avoidance  Schwarzgeld  Schwarze  Kassen  Schwarzkasse  ChristineLagarde  Panama  Papers  revolving  door  lobby  No  Representation  Career  Politicians  trust  far-right  right-wing  sovereign  debt  crisis  ECB  MarioDraghi  banking  crisis  bank  bailout  GFC  democracy  neoliberal  neoliberalism  shareholder  capitalism  crony  capitalism  Chicago  School  China  credit  bubble  BRIC  USA  Hegemony  TTIP  TPP  geopolitics 
april 2016 by asterisk2a
IMF concerned UK referendum will interfere with Greek bailout – WikiLeaks
The IMF officials say that a threat of an imminent financial catastrophe was needed to force other players into accepting its measures such as cutting Greek pensions and working conditions, but that the UK referendum on 23 June will paralyse EU decision-making at a critical moment, according to the records.

The UK referendum was said to add a complication that needed to be negotiated around – delaying a possible “moment of truth” until after the June vote.

Greek finance minister Euclid Tsakalotos has accused the IMF of imposing draconian measures, including on pension reform.
Brexit  IMF  European  Union  Greece  sovereign  debt  crisis  austerity  PIGS  Troika 
april 2016 by asterisk2a
Money: The Too Big to Fail Edition by Panoply Media
Neil Irwin, author of The Alchemists: Three Central Bankers and a World on Fire, joins hosts Felix Salmon of Fusion, Cathy O’Neil of mathbabe.org, and Slate’s Moneybox columnist Jordan Weissmann. This week is all about Neel Kashkari of the Minneapolis Fed's new solution for our too-big-to-fail banks. //!& breaking up has complexity ... financial-industrial complex! //
too  big  to  bail  toobigtofail  TBTF  retail  banking  investment  banking  VAR  discounted  risk  systemicrisk  discounting  risk  BIS  centralbanks  liquidity  trap  GFC  financial  product  recovery  TARP  UK  USA  Europe  sovereign  debt  crisis  PIGS  economic  history  book  monopsony  oligopoly  oligopol  repo  interbank  lending  complexity  financial-industrial  complex  leverage  derivatives 
march 2016 by asterisk2a
Energy price slump sends eurozone into deflation - BBC News
Energy drove the decline, with prices down 8% in February compared to a 5.4% slide in January. The dismal figures have dashed hopes that ECB efforts to boost prices were working. That raises the chance of the bank announcing further stimulus measures next month. It has already announced a cut to its bank deposit rate, which remains in negative territory. ECB chief Mario Draghi insisted earlier this month the policies were working. [...] The Group of 20 (G20) finance ministers and central bankers agreed on Saturday to use "all policy tools, monetary, fiscal and structural - individually and collectively" to renew growth. //&! Eurozone economy grows 1.5% in 2015 - 12 February 2016 &! Eurozone growth forecast cut to 1.7% - 4 February 2016
Europe  European  Union  deflationary  deflation  Fiscal  Pact  zombie  banks  liquidity  trap  ZIRP  NIRP  QE  ECB  MarioDraghi  monetary  policy  Richard  Koo  Angela  Merkel  Wolfgang  Schäuble  monetary  transmission  mechanism  Schuldenbremse  austerity  2016  economic  history  recovery  secular  stagnation  demographic  bubble  ageing  population  babyboomers  Germany  policy  OMT  TLTRO  LTRO  George  Osborne  G20  UK  sovereign  debt  crisis  PIGS  Japan  Abenomics  BOJ  BOE  Mark  Carney 
march 2016 by asterisk2a
Die Macht der Finanzkonzerne - Wie Blackrock mittels Geld die Welt regiert - YouTube
extraction of fat. no skin in the game. // Privatisation of housing stock - social and affordable, anglo saxon capitalism style; profit maximisation, dividends. // after Goldman Sachs the new vampiresquid // no skin in game; get money for speculation from pension funds, other investors, mutual funds. << that is the system! // nur wer geld hat, kann es vermehren. // nearly no governance, no guidelines regarding sustainability, ethics, transparency, morals. // no regulation = big profit and exploitation, corruption, bribery.
BlackRock  MBO  LBO  M&A  Private  Equity  financial  product  Hedge  Fund  Black  Swan  blackswan  Nassim  Taleb  self-regulation  Mutual  Fund  Venture  Capital  risk  governance  corporate  governance  lobbyist  lobby  Lobbying  Wall  Street  shareholder  value  profit  maximisation  activist  investor  Main  Street  accountability  transparency  mainstreet  arbitrage  squeezed  middle  class  wage  stagnation  bonuses  bonus  speculation  revolving  door  regulation  regulators  Career  Politicians  CEO  pay  dividends  Heuschrecken  ROI  speculative  sustainability  tax  code  ethics  corporate  scandal  accounting  scandal  oligarchy  plutocracy  Super  Rich  1%  GFC  sovereign  debt  crisis 
february 2016 by asterisk2a
Interview With Mohamed El-Erian: Masters in Business (Audio) by Bloomberg View
7:50 New Normal is secular stagnation and decades-long NIRP, ZIRP, QE distortion. structural, secular. no cyclical recovery. but long secular challenges; prolonged period of low growth. // also inequality! // currently policy makers subsidise debtors, subsidise creditors - financial repression. promote risk taking. // richard koo would not agree with el-erian's notion that gov balance sheets are same as household balance sheets. // 12:10 demographic issue! political. and economic elements in it of secular stagnation. [...] borrowing growth // rise of far-right! // corps sitting on cash // inequality! // bc of lived in artificial world of borrowed growth, created massive divergence. // min 15:30 richard koo would not agree that central banks are the only game in town. central banks have complained abt austerity gov. // min 20 - Feds intellectually inflexible. comfort zone. self-regulation & great moderation. // reflation didnt work bc no fixed fundamentals // perfect storm! lost trust.
New  Normal  financial  repression  NIRP  ZIRP  QE  economic  history  secular  stagnation  GFC  credit  bubble  book  western  world  emerging  middle  class  debtoverhang  Richard  Koo  deleveraging  debt  servitude  Super  Cycle  household  debt  consumer  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  student  debt  KennethRogoff  carmenreinhart  sovereign  debt  crisis  austerity  Paul  Krugman  Gini  coefficient  inequality  Joseph  Stiglitz  distortion  monetary  policy  fiscal  policy  monetary  transmission  mechanism  liquidity  trap  unconventional  monetary  policy  monetary  theory  monetary  system  retirement  demographic  bubble  ageing  population  far-right  Rechtsextremismus  Rechtsruck  zombie  consumer  zombie  corporations  zombie  banks  Pact  Schuldenbremse  tax  avoidance  tax  evasion  inflation  targeting  inflation  expectation  nominal  GDP  targeting  GDP  reflate  reflation  trust  trustagent  distrust  business  confidence  consumer  confidence  public  sentiment  public  perception  bank  bailout  Japan  Abenomics  AIIB  IMF  China  BRIC  self-regulation  Great  Moderation 
february 2016 by asterisk2a
Vickers warns over weaker bank safety buffers - BBC News
[ no skin in the game ] The man charged with leading an inquiry into the future safety of Britain's banks has said Bank of England plans are not strong enough. Sir John Vickers, who led the Independent Commission on Banking (ICB) said: "The Bank of England proposal is less strong than what the ICB recommended." In a BBC interview, he added "I don't think the ICB overdid it." The Bank of England declined to comment. Specifically, it is the plans to make sure that banks have enough capital that Sir John has questioned. Capital is considered vital to a bank's safety, as it serves to protect it from sudden losses. It comes in many forms, but the most common is funding from shareholders, who expect a hefty return on the risk they are taking. The backdrop to this news is the current slump in bank share prices across Europe. Since the start of the year, European banking stocks have lost a quarter of their value. //&! bit.ly/1Xs0Bac
zombie  banks  retail  banking  investment  banking  toobigtofail  too  big  to  jail  TBTF  too  big  to  bail  economic  history  lobbyist  lobby  Lobbying  GFC  speculation  CDS  CDO  derivatives  Interestrateswap  financial  product  VAR  risk-management  risk  management  Greed  bonuses  bonus  financial  crisis  blackswan  Black  Swan  Career  Politicians  No  Representation  democracy  Super  Rich  1%  plutocracy  oligarchy  Wall  Street  shareholder  value  profit  maximisation  short-termism  self-regulation  regulation  deregulation  regulators  Glass-Steagall  BOE  ECB  Bundesbank  sovereign  debt  crisis  Fed 
february 2016 by asterisk2a
Adam Posen: What Japan and the UK Demonstrate about Macroeconomic Stimulus - YouTube
Confidence Fairy - Paul Krugman. (sov debt crisis) only applicable if you don't have a central bank. like Greece. that can do QE as much as you need to stabilise monetary system. ie stop deleveraging, only serving debt. meaning deflation. // different QE, diversity. shift risk appetite to more riskier debt. ... // fiscal activism can't overcome austerity ... // UK has it work because it doesn't have the manufacturing base. but its population is growing, not shrinking. but job creation - multiplier to economy is 1 or lower because of mostly service sector job creation which lot need to access welfare state through tax credits. // min 11. Gordon Brown and Alistair Darling did lots right! GPB depreciation. budget deficit growth. But imports stayed high!!! current account deficit and trade deficit. Austerity undermines growth and BOE policy! cut you future and investment (4-1 ration). UK got no credibility bonus from bond vigilantes, no FDI inflows.
Abenomics  economic  history  secular  stagnation  UK  austerity  Japan  BOE  BOJ  Mark  Carney  deflationary  deflation  demographic  bubble  ageing  population  migration  immigration  Sozialpolitik  Integrationspolitik  Paul  Krugman  JGB  ZIRP  NIRP  QE  liquidity  trap  balance  sheet  recession  Richard  Koo  deleveraging  ECB  TLTRO  LTRO  debt  monetisation  debt  monetization  monetary  policy  monetary  transmission  mechanism  monetary  stimulus  monetary  theory  unconventional  monetary  policy  monetary  system  financial  repression  distortion  speculative  bubbles  creditrating  creditrisk  junk  bond  NPL  credit  bubble  recovery  George  Osborne  Fiscal  Pact  Schuldenbremse  Super  Cycle  sovereign  debt  crisis  debtoverhang  currency-war  currency  debasement  currency  war  current  account  deficit  trade  deficit  IMF  OBR  foreign  direct  investment  Conservative  Party  nasty  fairness  Generationengerechtigkeit  policy  folly  policy  error 
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
Bank of Japan shocks markets by adopting negative interest rates | World news | The Guardian
BOJ shock decision to adopt negative interest rates, in an attempt to protect the flagging economy from market volatility and fears over the global economy. In a 5-4 vote, the bank’s board imposed a 0.1% fee on deposits left with the Bank of Japan (BoJ) – in effect a negative interest rate. The move, which follows the similarly aggressive precedent set by the ECB in June 2014, is designed to encourage commercial banks to use excess reserves they keep with the central bank to lend to businesses. //&! The Disturbing Reasons Why The Bank Of Japan Stunned Everyone With Negative Rates - bit.ly/1UvpOyO - encouraging capex, supporting existing bubbles ie equity and bonds (joining draghi). Citing examples of Sweden and Switzerland with NIRP. And ECB of combining QE and NIRP. Combating China exporting deflation. And keep the pace of JGB purchases, keeping the bubble floating. [A] "last-ditch measure"[.] [I]t may be time to panic. - 2016/2017 //&! Currency War - bit.ly/1QwOGox
ECB  BOJ  ZIRP  NIRP  QE  debt  monetisation  debt  monetization  monetary  policy  monetary  transmission  mechanism  monetary  theory  unconventional  monetary  policy  monetary  stimulus  monetary  system  deposit  levy  MarioDraghi  Abenomics  economic  history  deleveraging  debtoverhang  balance  sheet  recession  GFC  recovery  Yen  Euro  credit  bubble  liquidity  trap  distortion  asset  bubble  asset  allocation  equity  bubble  speculative  bubbles  bond  bubble  property  bubble  debt  bubble  New  Normal  financial  repression  faultlines  global  economy  structural  imbalance  global  imbalances  demographic  bubble  ageing  population  Japan  UK  secular  stagnation  western  world  inflation  expectation  inflation  targeting  nominal  GDP  targeting  deflation  Sweden  Switzerland  China  Yuan  JGB  2016  USA  Europe  sovereign  debt  crisis  austerity  business  confidence  consumer  confidence  Super  Cycle  recession  currency-war  currency  debasement  currency  war 
january 2016 by asterisk2a
Weltwirtschaftsforum in Davos: Die Welt bangt um Europa - SPIEGEL ONLINE
Wie steht es um Europa? Schlimm, wenn man der Stimmung beim Weltwirtschaftsforum in Davos glaubt. In den Augen vieler droht der Kontinent auseinanderzudriften. Die letzte Hoffnung ruht auf Angela Merkel. [...] Schäubles Andeutung wird zum "Marshall-Plan" Wie groß die Erwartungen sind, die auf Deutschland ruhen, zeigen auch die Reaktionen auf den Vorstoß von Finanzminister Schäuble, "viele Milliarden Euro" in die Nachbarländer Syriens zu investieren, um diese zu stabilisieren und zu verhindern, dass die Flüchtlinge weiter nach Europa drängen. So vage Schäubles Worte waren, so begehrlich wurden sie aufgenommen. Von einem "neuen Marshallplan" war gleich die Rede. "Ich bin begeistert von dieser Idee", jubelte sogar Milliardär Soros - ansonsten nicht unbedingt ein Freund Schäubles.
European  Union  Europe  monetary  ECB  monetary  policy  refugee  crisis  secular  stagnation  deflationary  deflation  Angela  Merkel  Wolfgang  Schäuble  fiscal  policy  Pact  Schuldenbremse  Germany  faultlines  global  imbalances  PIGS  sovereign  debt  crisis  bank  bailout  GFC  recovery  structural  unemployment  economic  history  fiscal  Euro  Brexit  civil  war  ISIS  Middle  East  Iraq  Afghanistan  Libya  Lybia  National  Security  Schengen  Agreement 
january 2016 by asterisk2a
Carney: No need for interest rate rises now - BBC News
Carney said that collapsing oil prices and an "unforgiving" global environment meant that tighter monetary policy was not yet necessary. [...] He pointed out that the Fed's rate rise had only brought the US interest rate to the same "lofty level" as the Bank of England's. The Governor said that three factors would be the strongest guide to when interest rates might rise. First, that economic growth in the UK would be higher than the average trend. He said that growth at an average quarterly rate of 0.5% in 2015 had "disappointed". Second, that wage growth strengthens and productivity improves. And, third, that core inflation starts to approach the target rate of 2%. //&! Rate rise pause till early 2017? - bbc.in/1T1Qrge - [ global risks are building, global imbalances, faultlines. ] There's a frying pan - the global growth slowdown - and a fire - high levels of indebtedness - out there. &! bbc.in/1S5N7ks
Fed  BOE  2016  Taper  UK  USA  monetary  policy  Mark  Carney  Fed  mandate  productivity  output  gap  inflation  expectation  inflation  targeting  nominal  GDP  targeting  deflationary  deflation  Oil  price  commodity  prices  wage  inflation  GDP  secular  stagnation  economic  history  austerity  fiscal  policy  property  bubble  consumer  debt  household  debt  credit  card  debt  mortgage  market  ZIRP  NIRP  QE  private  debt  corporate  debt  Europe  ECB  China  credit  bubble  2015  global  economy  BRIC  OPEC  aggregate  demand  Richard  Koo  overcapacity  Supply  and  and  Supply  liquidity  trap  monetary  transmission  mechanism  monetary  stimulus  monetary  theory  unconventional  monetary  policy  debt  monetisation  debt  monetization  zombie  consumer  zombie  corporations  zombie  banks  debtoverhang  balance  sheet  recession  deleveraging  margin  trading  speculative  bubbles  equity  bubble  Super  Cycle  debt  servitude  leverage  George  Osborne  dogma  ideology  neoliberalism  neoliberal  faultlines  global  imbalances  distortion  emerging  middle  class  emerging  market  Frontier  Markets  sovereign  debt  crisis  unintended  consequences  unknown  unkown  QT  financial  repression  New  Normal 
january 2016 by asterisk2a
The Great Unraveling Looms - Blame The 'Austrians'? | Zero Hedge
Well, well: who would have believed it. First the Bank for International Settlements comes out with a paper that links credit booms to the boom-bust business cycle, then Britain's Adam Smith Institute publishes a paper by Anthony Evans that recommends the Bank of England should ditch its powers over monetary policy and move towards free banking. [...] The BIS paper will be the more influential of the two in policy circles, and this is not the first time the BIS has questioned the macroeconomic assumptions behind the actions of the major central banks. [...] Targeting nominal GDP is not a perfect answer.
credit  bubble  economic  history  BIS  GFC  QE  ZIRP  NIRP  distortion  squeezed  middle  class  secular  stagnation  working  poor  credit  card  debt  household  debt  property  bubble  consumer  debt  monetary  policy  liquidity  trap  monetary  stimulus  monetary  theory  unconventional  monetary  policy  monetary  system  China  USA  subprime  car  loan  debt  servitude  discretionary  spending  disposable  income  Student  debt  Super  Cycle  debtoverhang  sovereign  debt  crisis  debt  bubble  debt  monetisation  debt  monetization  Fed  ECB  BOE  Japan  BOJ  Abenomics  nominal  GDP  targeting  inflation  targeting  wage  growth  wage  stagnation  income  distribution  income  inequality  low  income  income  redistribution  inequality  Gini  coefficient  Super  Rich  1%  plutocracy  oligarchy  group  think  think  tank  vested  interest  interest  groups  lobbyist  lobby  Lobbying  revolving  door  Career  Politicians  No  Representation  social  democracy  democracy 
january 2016 by asterisk2a
"How The Investment Grade Dominos Will Fall" - UBS Explains | Zero Hedge
According to Citigroup's Matt King, it is now officially too late to save junk debt, which has entered the final stage of the credit cycle, the one where defaults for high yield bonds rise with every passing month. [...] we estimate that nearly $1tn of speculative-grade credits are at risk of default over the next downturn, as the stock of low-quality credit has soared. [...] These developments are a negative headwind for investment-grade corporates in 2016.
creditrating  creditrisk  NPL  corporate  debt  ZIRP  NIRP  QE  distortion  speculative  bubbles  debt  monetisation  debt  monetization  leverage  junk  bond  sovereign  debt  crisis  PIGS  monetary  policy  emerging  market  Frontier  Markets  BRIC  economic  history  Taper  QT  M&A 
january 2016 by asterisk2a
The Deflation Monster Has Arrived | Zero Hedge
the world’s grand experiment with debt has come to an end. And it’s now unraveling. [...] The next thing is to give money to Main Street. [...] Either way, money will be printed out of thin air and given to you. That’s what’s coming next. Possibly after a failed attempt at demanding negative interest rates from the banks. But coming it is. [...] Once people lose faith in their currency all bets are off. The smart people will be those who take their fresh central bank money and spend it before the next guy.
deflationary  deflation  debt  servitude  credit  bubble  squeezed  middle  class  working  poor  secular  stagnation  UK  USA  Europe  western  world  Precariat  precarious  work  household  debt  Richard  Koo  GFC  China  recovery  property  bubble  subprime  economic  history  neoliberalism  neoliberal  Wall  Street  shareholder  value  profit  maximisation  capitalism  crony  capitalism  exploitation  Super  Cycle  consumer  debt  credit  card  debt  car  loan  student  loan  debt  debtoverhang  NPL  sovereign  debt  crisis  private  debt  debt  monetisation  debt  monetization  ZIRP  NIRP  QE  bank  bailout  distortion  capital  allocation  asset  allocation  speculative  bubbles  financial  repression  2016  2015  fiscal  policy  monetary  policy  fiat  money  fiat  currency  trust  distrust  trustagent 
january 2016 by asterisk2a
"Markets Crash When They're Oversold" | Zero Hedge
Technology Destroying Jobs + While the big driver of the decline in economic growth since the 1980’s has been a structural change from a manufacturing based economy (high multiplier effect) to a service based one (low multiplier effect), it has been exacerbated by the increase in household debt to offset the reduction in wage growth to maintain the standard of living. This is shown clearly in the chart below. [...] In fact, each job created in energy-related areas has had a “ripple effect” of creating 2.8 jobs elsewhere in the economy from piping to coatings, trucking and transportation, restaurants and retail. Simply put, lower oil and gasoline prices may have a bigger detraction on the economy than the “savings” provided to consumers.
Oil  price  shale  gas  fracking  job  creation  USA  2016  Service  Sector  Jobs  Manufacturing  globalization  globalisation  neoliberalism  neoliberal  borderless  flat  world  economic  history  UK  low  income  wage  stagnation  wage  growth  income  growth  disposable  income  discretionary  spending  consumer  debt  squeezed  middle  class  household  debt  property  bubble  working  poor  precarious  work  Precariat  job  security  job  market  jobcreation  job-creation  recovery  GFC  dogma  ideology  austerity  tax  evasion  tax  avoidance  corporate  welfare  subsidies  subsidizing  lobbyist  lobby  Lobbying  trade  agreement  TPP  TTIP  NAFTA  CETA  European  Union  sovereign  debt  crisis  credit  bubble  China  BRIC  structural  imbalance  global  imbalances  faultlines  2015  presidency  barackobama  ZIRP  NIRP  QE  George  Osborne  private  debt  debtoverhang  debt  servitude  student  loan  debt  student  loan  student  debt  credit  card  debt  car  loan  liquidity  trap  Richard  Koo  balance  sheet  recession  deleveraging 
january 2016 by asterisk2a
Börse: Warum Schwellenländer für die Kurskrise sorgen - Kolumne - SPIEGEL ONLINE
Chronisch überschüssige Leistungsbilanz [ & Over capacity for less/stagnant demand ... + biggest credit bubble (china) popped as the west can't afford more. QE and ZIRP has run it's way! ] [...] Der Grund, warum der deutsche Aktienindex weitaus mehr betroffen ist als andere europäische Indizes, liegt allein an der strukturellen Abhängigkeit der deutschen Industrie von Blasen in anderen Ländern. Anstatt auf bessere Stimmung zu hoffen, sind Anleger gut beraten, sich über den weiteren Verlauf der Schwellenländerkrise Gedanken zu machen. [...] [ Fed taper makes things more difficult to serve debt ] [...] Langfristig sind es die Gewinne und nicht die Zinsen, die die Aktienpreise treiben. //&! China (Asia/BRIC/Frontier Market) Corporate Bond Yields up - bit.ly/1Sme7fV & NPL probably too. //&! If property is biggest item of household wealth in a property bubble (UK, China, ... USA) - bit.ly/1Zpiy8M
trade  deficit  BRIC  credit  bubble  western  world  secular  stagnation  macroeconomic  policy  China  Japan  Germany  UK  USA  Brazil  commodity  prices  Oil  price  NPL  shadow  banking  shadow  economy  banking  crisis  ZIRP  NIRP  QE  QT  speculative  bubbles  property  bubble  mortgage  market  Fed  BOE  ECB  European  Union  sovereign  debt  crisis  household  debt  consumer  debt  credit  card  debt  car  loan  private  debt  corporate  debt  tax  evasion  tax  avoidance  austerity  corporate  welfare  subsidies  subsidizing  Russia  OPEC  aggregate  demand  liquidity  trap  Richard  Koo  Richardkoo  debtoverhang  balance  sheet  recession  debt  servitude  student  loan  debt  Super  Cycle  debt  bubble  student  debt  debt  monetisation  debt  monetization  student  loan  discretionary  spending  disposable  income  squeezed  middle  class  precarious  work  Precariat  working  poor  neoliberalism  neoliberal  globalization  globalisation  borderless  flat  world  trade  agreement  Hegemony  TPP  TTIP  TISA  CETA  NAFTA  Africa  South  Africa  global  trade  trade  balance  current  account  deficit  Frontier  Markets  faultlines  structural  imbalance  global  imbalances  Taper  reflate  reflation  equity  bubble  Abenomics  economic  history  India  irrational  exuberance  Robert  Shiller  inequality  Gini  coefficient  deflationary 
january 2016 by asterisk2a
Italien: Bankensektor wieder tief in der Krise - SPIEGEL ONLINE
Zusammengefasst: Italiens Ministerpräsident Matteo Renzi hat zwar einige Reformen auf den Weg gebracht. Auch die Wirtschaft des Landes ist zuletzt etwas gewachsen. Doch wer genauer hinschaut, sieht: Der Eurostaat hat nach wie vor mit massiven Finanzproblemen zu kämpfen - und die Schulden des Landes steigen immer weiter.
Italy  sovereign  debt  crisis  recession  GFC  bank  crisis  banking  crisis  2016  recovery  liberal  economic  reform  bail-in  bank  bailout  banking  union  EuropeanSystemicRiskBoard  ECB  PIGS 
january 2016 by asterisk2a
Why The Crash of 2016 Will Happen... - YouTube
China's Credit Bubble popped. &! Could China Trigger the Crash of 2016? - youtu.be/JRw8JgP-L0A //&! IMF: "Age of America" Will End 2016: Steve Forbes on China - youtu.be/YxCxHM5Ax_k //&! Has The Crash of 2016 Now Begun? What Can & Should Be Done? - youtu.be/JwEDvXYVE_g - Richard Wolff, austerity failed what has been promised "business confidence." Smart money unloading started in 2015. "Silly China-bashing." China has capacity (over capacity) but western world has reached its credit limit! << youtu.be/L4J_n9pTdJQ codependent. //&! youtu.be/ORRPNO2XPDA - still too much debt, austerity flaws, no income growth to serve debt and not cut back on spending (private households), China exporting deflation.
book  Super  Rich  1%  plutocracy  corporate  state  corporate  media  Wall  Street  lobbyist  lobby  Lobbying  vested  interest  interest  groups  revolving  door  Career  Politicians  No  Representation  social  democracy  democracy  Wertegesellschaft  Wegwerfgesellschaft  squeezed  middle  class  neoliberalism  2016  neoliberal  working  poor  Precariat  wage  stagnation  secular  stagnation  western  world  corporate  scandal  tax  evasion  tax  avoidance  corruption  bribery  Greed  GFC  bank  bailout  austerity  fairness  Generationengerechtigkeit  tax  code  Rechtsruck  far-right  Rechtsextremismus  refugee  crisis  symptom  Xenophobia  Islamophobia  Gini  coefficient  inequality  income  mobility  social  mobility  poverty  trap  welfare  state  social  safety  net  USA  Hegemony  China  UK  Debt  Super  Cycle  post-racial  America  crony  capitalism  capitalism  shared  economic  interest  economic  damage  Europe  PIGS  sovereign  crisis  consumer  household  ZIRP  NIRP  QE  IMF  financial  repression  speculative  bubbles  property  bubble  New  Normal  fiscal  policy  monetary  policy  globalization  globalisation  flat  world  borderless  free  trade  debtoverhang  credit  card  car  loan  mortgage  market  oligarchy 
january 2016 by asterisk2a
Student nurses and midwives protest over grants cut - BBC News
Student nurses and midwives have marched in protest at the government's decision to scrap their bursaries in England and replace them with loans. [...] The Royal College of Nursing said fear of debt would put people off training. // shifted another budget item off the publics balance sheet onto private balance sheet. //&! Spending Review: Grants for student nurses are being scrapped - bbc.in/1jk5kLW //&! NHS nursing levels: Nine in 10 hospitals missing targets - The vast majority of hospitals in England are struggling to recruit enough nurses, figures show. Some 92% of the 225 acute hospital trusts in England did not manage to run wards with their planned number of nurses during the day in August. The figures, published by the NHS, show that hospitals in England are falling short of their own targets for levels of safe staffing. - bbc.in/1Pfuzuq
budget2015  PR  Positioning  spin  doctor  George  Osborne  Jeremy  Hunt  austerity  NHS  staff  shortage  staff  morale  locum  staff  tories  nasty  party  Conservative  David  Cameron  general  election  2015  election  campaign  promises  constituency  babyboomers  Generationengerechtigkeit  education  policy  social  mobility  income  mobility  Gini  coefficient  student  loan  debt  student  loan  Bubble  Maintenance  Allowance  Maintenance  Grant  poverty  trap  disposable  income  discretionary  spending  debt  servitude  consumer  debt  credit  card  debt  debtoverhang  student  debt  Super  Cycle  household  debt  private  debt  UK  output  gap  recovery  2015  2016  sovereign  debt  crisis  Privatisation 
january 2016 by asterisk2a
Perfect Storm!? | Zero Hedge
And with debt now $57 trillion higher worldwide than in 2008, it’s not at all clear that another borrowing binge will be greeted with enthusiasm by the world’s bond markets, currency traders or entrepreneurs. [ market correction, no liquidity, stuck with position, this may be no correction, but correction back to fundamental grounds ] [...] And one thought will appear in all those minds: Why didn’t I load up on gold when I had the chance?
2015  2016  China  consumer  debt  Super  Cycle  household  debt  mortgage  market  property  bubble  ZIRP  NIRP  QE  debt  monetisation  debt  monetization  fiscal  policy  austerity  monetary  policy  credit  card  debt  car  loan  credit  card  debt  servitude  corporate  debt  sovereign  debt  crisis  debt  bubble  debtoverhang  balance  sheet  recession  economic  history  Taper  Fed  BOE  ECB  PBOC  output  gap  globalisation  globalization  borderless  secular  stagnation  western  world  OPEC  Oil  price  commodity  prices  flat  world  BRIC  leverage 
january 2016 by asterisk2a
Osborne warns of 'dangerous cocktail' of economic risks - BBC News
[ repeat phrases - "strong economy", "strong economy, strong NHS" ] The UK faces a "cocktail" of serious threats from a slowing global economy as 2016 begins, Chancellor George Osborne has warned. Speaking in Cardiff, Mr Osborne said this year is likely to be one of the toughest since the financial crisis. He told business leaders that far from "mission accomplished" on the economy, "2016 is the year of mission critical". His message is in stark contrast to the positive tone of his Autumn Statement, when he said the UK was "growing fast". [...] that the Autumn Statement had put in place a four-year plan to restore the UK's public finances, and make the economy more productive, with businesses more competitive so they could create jobs. [...] Mr Osborne told the Today programme the UK's economic recovery was not "a debt-fuelled recovery", citing the support of the governor of the Bank of England in his assessment. [ not public, but private household debt! ]
George  Osborne  Career  Politicians  PR  spin  doctor  budget2015  Tories  Conservative  Party  nasty  austerity  underinvestment  productive  investment  productivity  output  gap  job  creation  wage  growth  consumer  debt  household  debt  Positioning  energy  policy  competitiveness  renewable  energy  corporate  welfare  corporate  tax  rate  Generationengerechtigkeit  fairness  subsidies  subsidizing  NHS  Jeremy  Hunt  David  Cameron  general  election  2015  election  campaign  promises  Manifesto  constituency  babyboomers  Opportunism  opportunist  Oil  price  bank  bailout  fiscal  policy  monetary  policy  Housing  Crisis  affordable  generation  rent  property  bubble  NPL  mortgage  market  car  loan  credit  card  debt  budget  deficit  balance  sheet  current  account  deficit  trade  deficit  borderless  flat  world  globalisation  globalization  debt  servitude  debtoverhang  student  loan  debt  private  debt  sovereign  debt  corporate  debt  student  debt  student  loan  Maintenance  Grant  Education  Maintenance  Allowance  ZIRP  NIRP  QE  distortion  BOE  Buy-to-Let  Help  to  Buy  Scheme 
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
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
Little people brace for yet another hit as banks off hook - Independent.ie
Remember the Banking Inquiry? The big game changer that was set to sort out Irish bankers once and for all. It was destined to uproot the diseased banking culture. Ireland's little people would never again be bullied. A general election was even postponed to accommodate it.
Ireland  too  big  to  bail  too  big  to  jail  bank  bailout  GFC  economic  history  Career  Politicians  No  Representation  TBTF  toobigtofail  European  Union  zombie  banks  sovereign  debt  crisis  ECB 
november 2015 by asterisk2a
Blackrock-Vize Hildebrand kritisiert europäische Behörden - SPIEGEL ONLINE
Hildebrand: Nein, dafür sehe ich keine Anzeichen. Aber was mich schon besorgt, ist das Muster, dass frappantes Fehlverhalten europäischer Firmen immer wieder von amerikanischen Behörden aufgedeckt wird. Das scheint mir das wahre Problem zu sein. Ich denke da nicht nur an VW, sondern auch an die Banken oder an die Fifa. [...] Die Amerikaner dagegen sind das Problem schon 2009 angegangen, und die Banken sind schnell wieder gesundet. In Europa hat man es unter den Teppich gekehrt. [...] Europa hat zwei Probleme, und ein wesentliches davon ist ein Nachfrageproblem: Die Wirtschaft ist nicht ausgelastet, auch die Arbeitslosigkeit ist nach wie vor zu hoch. Und die Inflation liegt nahe null. [...] Europa hat auch ein Strukturproblem. Arbeits- und Produktmärkte sind überreguliert. [ Re Credit Bubble ] Niemand weiß genau, was geschieht, wenn diese Politik einmal umgekehrt wird.
VW  bank  bailout  FIFA  corporate  scandal  Volkswagen  sovereign  debt  crisis  too  big  to  bail  Grexit  European  Union  secular  stagnation  self-regulation  regulation  regulators  deregulation  accountability  white-collar  crime  banking  investment  banking  retail  banking  recovery  MarioDraghi  ECB  NIRP  ZIRP  TLTRO  LTRO  QE  GFC  economic  history  debtoverhang  Richard  Koo  fiscal  monetary  Brussels  lost  decade  lostgeneration  lost  generation  Generationengerechtigkeit  austerity  Pact  Schuldenbremse  underinvestment  productive  investment  ageing  population  demographic  bubble  squeezed  middle  class  emerging  middle  class  discretionary  spending  Sozialer  Abstieg  income  distribution  disposable  income  Brexit  credit  bubble  BRIC  emerging  market  Developing  World  western  Niall  Ferguson 
november 2015 by asterisk2a
Europäische Union: Schengen versagt wie der Euro - Kolumne - SPIEGEL ONLINE
[ managing the status quo ] Der Euro wackelt nach wie vor, das Schengen-System der offenen Grenzen ist de facto gescheitert. Beide europäischen Konstruktionen scheitern am selben Problem: Die EU konnte sich nur auf den kleinsten gemeinsamen Nenner einigen.
Leadership  Angela  Merkel  Wolfgang  Schäuble  Germany  European  Union  Career  Politicians  No  Representation  Jean-Claude  Juncker  GFC  Grexit  Brexit  Euro  bank  bailout  TBTF  too  big  to  bail  too  big  to  jail  sovereign  debt  crisis  Fiscal  Pact  Schuldenbremse  banking  crisis  economic  history  Brussels  accountability 
november 2015 by asterisk2a
The Secret Trade Agreement Exposed - YouTube
Democratic Representative Lloyd Doggett from Texas has joined with four other U.S Representatives to call for the release of the final text of the Transpacific Partnership. Representative Doggett has sent two letters over the last month to the US Trade Representative and Ambassador Michael Froman. And last week - Representative Doggett a rally calling for a release of the full text - and he was joined by Roxy the Bloodhound - who's supposed to help "sniff out" the secret text.
TPP  oligarchy  plutocracy  western  world  USA  UK  democracy  sovereign  sovereignty  social  democracy  Gini  coefficient  inequality  Empire 
november 2015 by asterisk2a
Hinkley Point nuclear agreement reached - BBC News
More than £30bn worth of deals between the UK and China are expected to be struck during the four-day visit. [...] 'Security concerns' The Hinkley Point project has come under fire over its cost and the delays to investment decisions and the timetable for building. The government has also been criticised for guaranteeing a price of £92.50 per megawatt hour of electricity - more than twice the current cost - for the electricity Hinkley produces. [<< death knell 4 UK consumer & heavy industry! In 10 years as other countries invested in renewables heavily, energy prices will be much higher in UK, a country which did not invest heavily in the Smart Grid & renewables when it was cheap to borrow to fund private public partnerships; 5-10 year mega projects. Bc nasty party is mercenary, not visionary. &! china is deep in renewables. why not renewables!? build smart grid] The Treasury hopes that within 10 years China will be UK second biggest trading partner. //&! Steve Hilton - bbc.in/1krBjLp
Hinkley  Point  C  foreign  investment  China  UK  AIIB  nuclear  power  energy  policy  renewable  energy  energy  price  George  Osborne  nasty  party  Tories  dogma  ideology  corporate  welfare  subsidies  subsidizing  Restrisiko  budget2015  solar  energy  green  energy  wind  energy  offshore  wind  power  David  Cameron  Conservative  Makers  lobbyist  lobby  Lobbying  Wall  Street  shareholder  value  profit  maximisation  Smart  Grid  foreign  direct  investment  foreign  relations  foreign  affairs  foreign  policy  Hegemony  austerity  recovery  sovereign  debt  crisis  trickle-down  economics  underinvestment  productive  investment  ZIRP  NIRP  QE  Richard  Koo  secular  stagnation  Niall  Ferguson  competitiveness  competitive  trade  agreement  free  trade  Steve  Hilton 
october 2015 by asterisk2a
Junior doctors: 7 in 10 to leave NHS if Hunt pushes through new contract | Society | The Guardian
on.fb.me/1NVj79G >> //&! The NHS and junior doctors: we need to hammer the government | Owen Jones talks - youtu.be/IjSCg3hA0Jc - Tories spin, positioning, reframing, manufactured consent, constituency politics, //&! Medical Negligence Lawyer talks at the protests: Peter Stefanovic Medical Negligence Lawyer - Junior Doctors Protest 18 10 15 - youtu.be/r0_XKRA9wcM - Jeremy hunt bullies BMA. As much as Tories bullied BBC CEO to accept raw deal. 7-day NHS program realised not through investment, but renegotiating contracts with docs to work more. that is framing and positioning! changing the definition of social hours. as done with child poverty. //&! Angry doctors are just the latest victims of globalisation - bit.ly/1hVxz32 //&! Jeremy Hunt can’t win his fight with doctors – they have always held the power in the NHS - bit.ly/1ZZ4WEl
NHS  Jeremy  Hunt  austerity  fairness  morality  nasty  party  Tories  Conservative  George  Osborne  David  Cameron  general  election  2015  election  campaign  promises  manufactured  consent  bank  bailout  sovereign  debt  crisis  Generationengerechtigkeit  Positioning  GP  reframing  framing  constituency  babyboomers  demographic  bubble  ageing  population  sick  population  premature  ageing  chronic  diseases  ageing  political  theory  social  contract  Police  social  care  elderly  care  Public  Services  Services  neoliberalism  neoliberal  Westminster  Toff  Privileged  Establishment  Privatisation  outsourcing  bullying  child  poverty 
october 2015 by asterisk2a
Steuerdeals: Fiat und Starbucks müssen offenbar zahlen - SPIEGEL ONLINE
[ POSITIONING: all in the name of job creation and prevention of job losses. Playing with fear, spin, pr, polarization, populism, propaganda, corporate media. Policy Makers making policy for capital. // Policy Making for the Super Rich, 1%, vested interest groups. ] Seit Monaten prüft die EU-Kommission dubiose Steuerabsprachen zwischen Konzernen und Mitgliedstaaten. Nun soll offenbar eine erste Entscheidung verkündet werden: Insidern zufolge drohen Starbucks und Fiat hohe Nachzahlungen. [...] Laut Insidern wird die Brüsseler Behörde Steuerabsprachen mit dem italienischen Autohersteller Fiat in Luxemburg und der US-Kaffeehauskette Starbucks in den Niederlanden voraussichtlich als unzulässige Subventionen bewerten. //&! bit.ly/1W4TY0F
corporate  welfare  corporate  scandal  accounting  scandal  tax  evasion  tax  avoidance  shared  economic  interest  budget  deficit  austerity  fairness  Generationengerechtigkeit  crony  capitalism  capitalism  shareholder  value  profit  maximisation  lobbyist  lobby  Lobbying  No  Representation  democracy  morality  sovereign  debt  crisis  bank  bailout  trickle-down  economics  neoliberalism  neoliberal  European  Union  tac  code  corporate  tax  rate  tax  code  Gesellschaft  Wertegesellschaft  ethics  subsidies  subsidizing  corporate  culture  corporate  values  corporate  state  corporate  media  Polarisation  propaganda  populism  PR  spin  doctor  Positioning  Fear  manufactured  consent  globalisation  globalization  exploitation  antitrust  European  Commission  Brussels  transparency  white-collar  crime  injustice  Justice  System  accountability  revolving  door  corruption  bribery  Career  Politicians  Policy  Makers  society  Super  Rich  1%  inequality  Gini  coefficient  corporate  governance  fiduciary  responsibility  Bernie  Sanders  Jeremy  Corbyn  Fiscal  Pact  Schuldenbremse 
october 2015 by asterisk2a
Europe is becoming an undemocratic continent where force matters more than law | Comment is free | The Guardian
Only banks, global corporations and the superrich have any power against this faceless semi-superstate [...] In the past year, on two occasions when tested, European solidarity fell apart. [...] The real power, meanwhile, sits with large corporations, banks and elites. And here’s the strangest thing: for all the power concentrated at the top, the EU lacks the will to operate purposefully in the multipolar global power system. We know, roughly, what the US wants. Ditto for China and Russia. Ask what Europe wants – in Ukraine, Syria or the Arctic circle – and you’ll draw a blank. In a multipolar world, whose chaos zones are expanding, effective states with clear diplomatic aims and red lines matter.
democracy  Career  Politicians  bank  bailout  banking  crisis  lobbyist  lobby  Lobbying  tax  evasion  tax  avoidance  crony  capitalism  capitalism  Wall  Street  shareholder  value  shared  economic  interest  profit  maximisation  Brussels  Rechtsruck  symptom  No  Representation  social  contract  fairness  morality  Generationengerechtigkeit  austerity  Fiscal  Pact  Schuldenbremse  solidarity  TBTF  too  big  to  jail  too  big  to  bail  conglomerate  corporate  scandal  corporate  media  corporate  state  injustice  justice  white-collar  crime  Brexit  sovereign  debt  crisis  refugee  crisis  Super  Rich  1%  Gini  coefficient  inequality  poverty  G  Zero  economic  history  monetary  union  European  trickle-down  economics  dogma  ideology  Privatisation  neoliberalism  neoliberal  neoconservatism  neoconservatives  USA  UK  Europe  vested  interest  interest  groups 
october 2015 by asterisk2a
These 5 Facts Explain the Worrying Rise of Europe’s Far-Right | TIME
Economic instability, populist politicians and a refugee wave is changing the face of politics in Europe Another round of elections, another push from increasingly vocal nationalists. Austria’s far-right Freedom Party gave the Social Democrats a run for their money in local elections over the past weekend, but fell short of capturing Vienna’s mayoralty. What started as an oddity in European politics has quickly become a disturbing pattern. These five facts explain the rise of the radical right in Europe, its causes and its implications for the region.
Rechtsruck  Unrechtsstaat  Lügenpresse  refugee  crisis  GFC  austerity  bank  bailout  sovereign  debt  crisis  Grexit  Brexit  Brussels  European  Union  AfD  NPD  UKIP  fairness  Generationengerechtigkeit  Sozialer  Abstieg  squeezed  middle  class  hartz-iv  precarious  work  Precariat  working  poor  job  creation  Career  Politicians  No  Representation  democracy  corporate  welfare  Schuldenbremse  Fiscal  Pact  Wall  Street  crony  capitalism  tax  evasion  tax  avoidance  profit  maximisation  shareholder  value  Niedriglohnsektor  Niedriglohn  Service  Sector  Jobs  Leiharbeit  Zeitarbeit  Minijob  ALG2  liberal  economic  reform  trickle-down  economics  economic  history  neoliberalism  neoliberal  neoconservatism  neoconservatives  Surveillance-Industrial  Complex  military–industrial  inequality  Gini  coefficient  social  mobility  income  mobility  job  security  uncertainty  globalization  globalisation  symptom  political  theory  lobbyist  lobby  Lobbying  revolving  door  social  contract  reflate  reflation  constituency  credit  bubble 
october 2015 by asterisk2a
Does the government hate young people? It certainly feels that way | Rhiannon Lucy Cosslett | Comment is free | The Guardian
[ u-25s not included in minimum wage, housing benefits ] We’d love to grow up, we really would. But policies on everything from student loans to housing seem designed to ensure we can never achieve adulthood [...] We have been disproportionately affected by recession and austerity. According to research published by the Resolution Foundation earlier this year, 22 to 29 year-olds saw a 12.5% fall in wages between 2009 and 2014. Working-age households suffered a 4% cut to their incomes, while pensioner households saw theirs jump by almost 10% between 2007 and 2014.
Generationengerechtigkeit  austerity  fairness  Millennials  Student  Loan  Bubble  Education  Maintenance  Allowance  Student  Maintenance  Grant  UK  nasty  party  Tories  Conservative  minimum  wage  post  code  lottery  policy  Gini  coefficient  constituency  babyboomers  sovereign  debt  crisis  Super  Cycle  political  theory  social  contract  Career  Politicians  No  Representation  budget2015  George  Osborne  David  Cameron  Iain  Duncan  Smith  inequality  social  mobility  income  mobility 
october 2015 by asterisk2a
Profit mean reversion and recession | Credit Writedowns
We are now in the seventh year of a cyclical recovery and bull market. Shares have tripled in that time frame. I would say this means we are much closer to the end of the business cycle than the beginning. Moreover, as Jeremy Grantham is quoted in the Business Insider piece, profits are mean-reverting and right now they are reverting from a phase that is “wildly optimistic” according to Warren Buffett. All of this is taking place against the backdrop of an economy in which wage growth is weak, household debt is still relatively high on a historic basis as a percentage of income and we have no policy room on the monetary side, with limited political appetite for policy on the fiscal side. To me, the pre-conditions for this profits recession speak to downside risk, ....
recovery  business  cycle  financial  cycle  private  debt  household  debt  consumer  debt  Student  Loan  Bubble  car  credit  card  debt  deleveraging  Richard  Koo  debtoverhang  austerity  fiscal  policy  economic  history  monetary  policy  job  creation  Service  Sector  Jobs  western  world  secular  stagnation  Niall  Ferguson  wage  stagnation  wage  growth  income  distribution  Gini  coefficient  inequality  trickle-down  economics  neoliberalism  neoliberal  Wall  Street  bank  bailout  budget  deficit  UK  USA  Schuldenbremse  Pact  sovereign  debt  crisis  Positioning  mainstreet.org  Germany  disposable  income  discretionary  spending  income  growth  low  income  crony  capitalism  reflate  reflation  Career  Politicians  constituency  fairness  Generationengerechtigkeit  Niedriglohnsektor  lobbyist  lobby  Lobbying  corporate  welfare  tax  evasion  tax  avoidance  income  inequality  social  mobility  social  contract  political  theory  income  mobility  Standard  American  Diet  equity  credit  ZIRP  NIRP  QE  BRIC  BOE  Fed  Fed  mandate  BOJ  PBOC  distortion  2015  ECB  Super  debt  servitude  zombie  consumer  zombie  banks  zombie  corporations  junk  bond  Taper  QT  irrational  exuberance  asset  allocation  capital  allocation  speculative  bubbles  commodity  prices  Oil  price  inflation  expe 
october 2015 by asterisk2a
How The Socialist Surge is Growing - YouTube
via Robert Reich on.fb.me/1Pn6XFK - According to a New York Times investigation reported this morning, just 358 families and the businesses they control have contributed over half the money to the 2016 presidential election so far – mostly to Republicans who have pledged to pare regulations; cut taxes on income, capital gains and inheritances; and shrink Social Security and Medicare. On the other hand, two-thirds of Americans support higher taxes on those earning $1 million or more a year, according to a June New York Times/CBS News poll, and six in 10 favor more government intervention to reduce the gap between the rich and the poor. And according to the Pew Research Center, nearly seven in 10 favor preserving Social Security and Medicare benefits as they are. To an extent we haven’t seen since the Gilded Age of the 1890s, the upcoming election is between a tiny group of super-rich and the rest of us. We must do everything possible to reclaim our democracy.
lefty  Bernie  Sanders  Jeremy  Corbyn  USA  UK  European  Union  neoliberalism  neoliberal  crony  capitalism  bank  bailout  banking  crisis  squeezed  middle  class  injustice  justice  morality  TBTF  too  big  to  jail  too  big  to  bail  white-collar  crime  corporate  scandal  accounting  scandal  Wall  Street  profit  maximisation  shareholder  value  lobbyist  Lobbying  lobby  No  Representation  Career  Politicians  austerity  Generationengerechtigkeit  fairness  neoconservatism  neoconservatives  progressive  wage  stagnation  secular  stagnation  income  growth  income  distribution  income  inequality  income  mobility  social  mobility  low  income  income  redistribution  capital  gains  capital  gains  tax  tax  code  capitalism  post-capitalism  GFC  Super  Rich  1%  Gini  coefficient  post  code  lottery  NHS  Privatisation  tax  evasion  tax  avoidance  TINA  Alternativlos  Wolfgang  Schäuble  Angela  Merkel  character  barackobama  georgewbush  gwbush  presidency  David  Cameron  George  Osborne  Toff  Privileged  Establishment  Sozialer  Abstieg  precarious  work  Precariat  globalization  globalisation  working  poor  Labour  Party  Tony  Blair  GordonBrown  sovereign  debt  crisis  Positioning  Polarisation  corporate  state  corporate  media  Lügenpresse  social  Party  p 
october 2015 by asterisk2a
Henryk M. Broder über Deutschland: "Ein opferbereites Volk" - SPIEGEL ONLINE
Nationalstolz? Keineswegs. Henryk M. Broder attestiert Deutschland stattdessen eine "sonderbare Form der Selbstverachtung". Der Publizist über das fehlende Selbstbewusstsein der Deutschen.
Angela  Merkel  Wolfgang  Schäuble  GroKo  Germany  Deutschland  foreign  affairs  foreign  policy  foreign  relations  refugee  crisis  corporate  espionage  industrial  espionage  cyber  espionage  sovereign  debt  crisis  bank  bailout  banking  crisis  TBTF  too  big  to  jail  too  big  to  bail  PIIGSFB  Career  Politicians  No  Representation  history  European  Europe  Nationalism  Russia  Ukraine  Ukrain  Middle  East  Putin  vladimirputin  Crimea  Crimea  G  Zero  USA  presidency  barackobama  Iraq  War  UK  France  China 
october 2015 by asterisk2a
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