Deflation and real economy in the United States: the black hole
The systemic crisis is spreading much faster in the real economy than in 2008-2009. This low dormancy is a sign that the economic protection dikes are severely lowered, the synergies are broken and the common strategies of global resilience have vanished. Within this statistical fog, not even fully lifted yet, our team needs once more to assess the health of the real economy, particularly in the United States. How could we actually measure the US real economy? .. (LEAP)
The systemic crisis is spreading much faster in the real economy than in 2008-2009. This low dormancy is a sign that the economic protection dikes are severely lowered, the synergies are broken and the common strategies of global resilience have vanished. Within this statistical fog, not even fully lifted yet, our team needs once more to assess the health of the real economy, particularly in the United States. How could we actually measure the US real economy? .. (LEAP)
Saving deficit, not China, threatens the American dream
US politicians invariably bemoan trade as the enemy of the middle class, the major source of pressure on jobs and wages. The current presidential campaign is no exception: Republicans and Democrats alike have taken aim at both China and the Trans-Pacific Partnership Agreement, holding them up as the scourge of beleaguered US workers. While this explanation may be politically expedient, the truth lies elsewhere... (China Daily)
US politicians invariably bemoan trade as the enemy of the middle class, the major source of pressure on jobs and wages. The current presidential campaign is no exception: Republicans and Democrats alike have taken aim at both China and the Trans-Pacific Partnership Agreement, holding them up as the scourge of beleaguered US workers. While this explanation may be politically expedient, the truth lies elsewhere... (China Daily)
World crisis : The Path to the World Afterwards (a book by F. Biancheri)
The financial and economic crisis that the world has been facing in the past two years marks the end of the world order established after 1945. In 1989, the “Soviet pillar” has collapsed and we are now witnessing the accelerated decomposition of the “Western pillar” with the US at the heart of the process of disintegration. After two decades spent living in the myth of an “ended history” in which our Western camp would be imposed universally, it is almost impossible to imagine “a world after” where tendencies would not be defined in Washington or Wall Street, where “Anglo-American” would not necessarily mean “modern” and where the dollar would no longer be king... (Anticipolis)
The financial and economic crisis that the world has been facing in the past two years marks the end of the world order established after 1945. In 1989, the “Soviet pillar” has collapsed and we are now witnessing the accelerated decomposition of the “Western pillar” with the US at the heart of the process of disintegration. After two decades spent living in the myth of an “ended history” in which our Western camp would be imposed universally, it is almost impossible to imagine “a world after” where tendencies would not be defined in Washington or Wall Street, where “Anglo-American” would not necessarily mean “modern” and where the dollar would no longer be king... (Anticipolis)
Janet Yellen: Rate rise likely appropriate in ‘coming months’
Chances of a Federal Reserve interest rate increase by July rose significantly Friday when Fed Chair Janet Yellen said a hike could be justified “in the coming months.” Speaking at Harvard University , Yellen said she believed US economic growth and the labor market would continue to strengthen after the first-quarter slowdown, and that the Fed’s early-2016 worries over the global economy and market volatility had diminished. .. (Economic Times)
Chances of a Federal Reserve interest rate increase by July rose significantly Friday when Fed Chair Janet Yellen said a hike could be justified “in the coming months.” Speaking at Harvard University , Yellen said she believed US economic growth and the labor market would continue to strengthen after the first-quarter slowdown, and that the Fed’s early-2016 worries over the global economy and market volatility had diminished. .. (Economic Times)
Risk of US crumbling in tax havens
The Puerto Rican crisis is only a symptom of a fully dislocating society, with a direct confrontation between the financial centre (Wall Street) and the American people's interests. The only solution that Washington has found to help Puerto Rico to pay its bills was to give it a favourable tax status. More broadly, if there were so few Americans in the Panama Papers, it was due to the fact that they already have their own tax havens. In fact, the United States seems to be the largest tax haven in the world, because... (GEAB Bulletin, May 2016)
The Puerto Rican crisis is only a symptom of a fully dislocating society, with a direct confrontation between the financial centre (Wall Street) and the American people's interests. The only solution that Washington has found to help Puerto Rico to pay its bills was to give it a favourable tax status. More broadly, if there were so few Americans in the Panama Papers, it was due to the fact that they already have their own tax havens. In fact, the United States seems to be the largest tax haven in the world, because... (GEAB Bulletin, May 2016)
Polish leaders play down EU 'opinion'
Poland's governing party Law and Justice (PiS) has played down the importance of the European Commission’s opinion on rule of law in Poland, which was sent on Wednesday (1 June). Foreign minister Witold Waszczykowski told Polish radio he had not even looked at the report. “It came in yesterday [Wednesday], I forwarded it to the prime minister and the president. I may have the chance to read it in the coming days,” he said... (EUObserver)
Poland's governing party Law and Justice (PiS) has played down the importance of the European Commission’s opinion on rule of law in Poland, which was sent on Wednesday (1 June). Foreign minister Witold Waszczykowski told Polish radio he had not even looked at the report. “It came in yesterday [Wednesday], I forwarded it to the prime minister and the president. I may have the chance to read it in the coming days,” he said... (EUObserver)
Is OPEC About To Surprise The Oil markets?
A day before the OPEC summit kicks off, top officials from the oil cartel say that the markets are moving in the right direction, a sign of confidence that suggests little could emerge from this week’s meeting. Few expected the June 2 meeting to result in some sort of agreement on supply cuts or even a production freeze, given the enmity between several of the group’s top members... (Oilprice)
A day before the OPEC summit kicks off, top officials from the oil cartel say that the markets are moving in the right direction, a sign of confidence that suggests little could emerge from this week’s meeting. Few expected the June 2 meeting to result in some sort of agreement on supply cuts or even a production freeze, given the enmity between several of the group’s top members... (Oilprice)
Keeping rates firmly on hold, ECB may raise inflation forecast
Keeping interest rates firmly on hold, the European Central Bank will likely raise growth and inflation forecasts on Thursday, a rare positive step even as it emphasises persistent negative risks and a readiness to provide more stimulus. The ECB is buying assets to the tune of 1.74 trillion euros ($1.94 trillion) to lift growth and boost inflation, which has been stuck in negative territory for months, raising the risk the 19-member currency bloc sinks into a deflation spiral... (Reuters)
Keeping interest rates firmly on hold, the European Central Bank will likely raise growth and inflation forecasts on Thursday, a rare positive step even as it emphasises persistent negative risks and a readiness to provide more stimulus. The ECB is buying assets to the tune of 1.74 trillion euros ($1.94 trillion) to lift growth and boost inflation, which has been stuck in negative territory for months, raising the risk the 19-member currency bloc sinks into a deflation spiral... (Reuters)
Saudi Arabia’s Gesture for OPEC Unity Meets Iran Resistance
Saudi Arabia faced resistance from Iran to proposals to restore a production target scrapped at OPEC’s last meeting in December as persistent divisions within the producer group undermined efforts to build unity. Still, OPEC’s arch rivals adopted a more conciliatory tone in Vienna than in the past, with Riyadh promising not to flood the market and Tehran saying it was ready to listen to its counterpart. (Bloomberg)
Saudi Arabia faced resistance from Iran to proposals to restore a production target scrapped at OPEC’s last meeting in December as persistent divisions within the producer group undermined efforts to build unity. Still, OPEC’s arch rivals adopted a more conciliatory tone in Vienna than in the past, with Riyadh promising not to flood the market and Tehran saying it was ready to listen to its counterpart. (Bloomberg)
China AIIB chief: 30 more nations want to join
It appears that countries are lining up to join the Asian Infrastructure Investment Bank (AIIB). By the end of the year, the bank’s membership will grow to nearly 100 countries and regions, making it a truly international financial institution, AIIB President Jin Liqun told 30 editors from major Asian media outlets gathered in Beijing for the annual board meeting of the Asia News Network held at China Daily Tuesday... (Asia Times)
It appears that countries are lining up to join the Asian Infrastructure Investment Bank (AIIB). By the end of the year, the bank’s membership will grow to nearly 100 countries and regions, making it a truly international financial institution, AIIB President Jin Liqun told 30 editors from major Asian media outlets gathered in Beijing for the annual board meeting of the Asia News Network held at China Daily Tuesday... (Asia Times)
BRICS New Development Bank to issue first yuan-denominated bonds
Shanghai-based New Development Bank is set to issue its first renminbi-denominated bonds,and is eyeing future funding for infrastructure projects, said Paolu Nogueira Batista, thebank’s vice-president for economic research, strategy and partnerships and chief risk officer... (China Daily)
Shanghai-based New Development Bank is set to issue its first renminbi-denominated bonds,and is eyeing future funding for infrastructure projects, said Paolu Nogueira Batista, thebank’s vice-president for economic research, strategy and partnerships and chief risk officer... (China Daily)
Why EU diplomacy needs more women
It is a widely held belief that some circles in the Brussels bubble are quick to judge. This dismissive culture stifles new ideas before they have a chance to be tested, take off, and become effective. This is what is happening to the post of the gender advisor to the European External Action Service (EEAS) and the woman who got the post... (EUObserver)
It is a widely held belief that some circles in the Brussels bubble are quick to judge. This dismissive culture stifles new ideas before they have a chance to be tested, take off, and become effective. This is what is happening to the post of the gender advisor to the European External Action Service (EEAS) and the woman who got the post... (EUObserver)
Can Russia and Turkey heal rift?
Since the downing of the Russian jet by Turkish forces in November, relations between Turkey and Russia have been in a pattern of controlled tension. The war of words has been interesting to watch. On Tuesday, came another round. Turkey accused Russia of an attack on a hospital in Idlib - something Moscow denied. In retaliation, Moscow called on Ankara to withdraw troops from northern Iraq immediately... (BBC)
Since the downing of the Russian jet by Turkish forces in November, relations between Turkey and Russia have been in a pattern of controlled tension. The war of words has been interesting to watch. On Tuesday, came another round. Turkey accused Russia of an attack on a hospital in Idlib - something Moscow denied. In retaliation, Moscow called on Ankara to withdraw troops from northern Iraq immediately... (BBC)
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