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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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Sinn has a bank?

by Migeru (migeru at eurotrib dot com) on
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In story: Midweek Crisis OT

Re: Ha'aretz catoon
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Were Bibi actually flying his plane into the HQ building of GS or JPM I would have to revise my opinion of him. All's well that ends well.

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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by Migeru (migeru at eurotrib dot com) on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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It is not surprising Hans Werner Sinn would argue against solutions that would put his bank out of operation. It is not indebted but productive companies that should be put out of business, but the holders and creators of counterfeit debt. In Sinn's case these would likely be one and the same.

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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REcently I found this interview with Hans Werner Sinn where he claims


 The Japanese have not cleaned the balance sheets of their banks, they have always brought new credit to repay the old credit, they didn't allow for the bankruptcies to happen. So Schumpeterian types of cleaning solutions were not chosen, and they couldn't get the economy going again.

So Schumpeter again. After Schumpeter destroyed the Weimar republic his disciples will destroy the EU.

Schumpeters claim that in a crisis you need to crush as much companies as possible, such that afterwards only the fittest would remain has been proven to be total bullshit one more. If it would make any sense the Greek economy should now grow like crazy after contracting (nominally) by 40%.

by rz on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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the French and German governments have ended their shadow-boxing over European budget "rules,"
and the Germans have won, and the Eurozoner is not part of Kaletsky's new "consensus" on fiscal policy.

Willem Buiter: Four rescue measures for stagnant eurozone (FT.com)

... The first is a proper AQR and stress test followed by a speedy recapitalisation of the capital-deficient banks and a wave of consolidation in the eurozone banking sector to bring higher profitability, and efficiency, to a banking sector with too many undersized banks. ...

The second measure is a temporary fiscal stimulus (say 1 per cent of eurozone GDP per year for two years, concentrated in the countries with the largest output gaps, that is, in the periphery), which is permanently funded and monetised by the ECB. To make the mechanics of this helicopter money drop more transparent, the ECB could cancel the sovereign debt it purchases. This third measure would be economically equivalent to buying and holding the debt forever (rolling it over as it matures), but rather more dramatic. ...

Finally, to achieve debt sustainability for the eurozone sovereigns, radical supply side reforms are required that boost the growth rate of potential output to at least 1.5 per cent in Italy, Portugal and other sclerotic countries.

To continue to be rightly depressed:
The eurozone's `no monetary financing of sovereigns' fetish hamstrings the ECB. The instinctive anti-Keynesianism of the Teutonic fringe emasculates countercyclical fiscal policy. Domestic political paralysis inhibits structural reform. The AQR stress test was a fudge. Good luck, eurozone.


by Migeru (migeru at eurotrib dot com) on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
( / )
What is there to be said any more?

by Migeru (migeru at eurotrib dot com) on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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The problem is that elites on the right see any rehabilitation of Keynes as a direct threat to the present purchased consensus around 'Mainstream Economics' and political attitudes about the role of governments in societies. And that consensus constitutes a large part of their support for their current capitalization. Expect them to be willing to kill to preserve that consensus.

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on
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In story: Restoring Ecosystems to Reverse Global Warming

Re: Restoring Ecosystems to Reverse Global Warming
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Restoring soil carbon is likely the most effective means available for reducing existing atmospheric carbon.

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on
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The USA should commit to restoring an area of grassland east of the front range from Tucumcari, NM to Minot SD in length and from Wichita,KS to Colorado Springs, CO wide. It appears that so doing could sequester 30 to 60 tons of carbon/hectare. There is at least that much again in semi-arid deserts that could be restored.

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on
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In story: LQD: How Depressingly Right We Have Been

Re: LQD: How Depressingly Right We Have Been
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The takeaway from six years of economic troubles? Keynes was right.
Thus the six years since 2008 have provided strong empirical support for the supposedly outmoded Keynesian view that government borrowing is more powerful than monetary policy in stimulating severely depressed economies and pulling them out of recession. In a sense, it is odd that the power of fiscal policy has come as a surprise - or that it continues to be categorically denied by the German government and the U.S. Tea Party. The underlying reason why fiscal policy is so important in recessions, and has now come to dominate over monetary policy, is a matter of simple arithmetic that should not be open to debate.
by afew (afew(a in a circle)eurotrib_dot_com) on
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In story: 31 October 2014

Re: Living Off the Planet
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EUobserver / 'No one to stay cold', as Russia and Ukraine clinch winter gas deal

BRUSSELS - Ukraine and Russia have agreed terms on winter gas supplies in a deal the EU says will contribute to "de-escalation" of the military conflict.

The breakthrough was sealed at a signing ceremony and press conference in Brussels on Thursday (30 October) evening after six months of EU-brokered talks in various locations around Europe.

The EU's energy commissioner, Gunther Oettinger, Russian energy minister Alexander Novak, and his Ukrainian counterpart, Yuriy Prodan, signed a "binding protocol" on the broad outlines of the deal.

The CEOs of Russian supplier Gazprom and Ukrainian distributor Naftogaz also signed a technical "addendum" to their 2009 gas contract.

by afew (afew(a in a circle)eurotrib_dot_com) on
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Just when I think they can't possibly sink any lower, they prove me wrong all over again.

by budr on
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Regreening program to restore one-sixth of Ethiopia's land | Environment | theguardian.com

Ethiopia's pledge to restore a further 15m hectares of degraded land was the largest of many made at the end of UN secretary general Ban Ki-moon's New York climate summit last month, where governments, companies and civil society groups together agreed to try to restore 350m hectares of deforested landscapes - an area the size of India - by 2030.

Commitments have now come from Uganda (2.5m hectares), Democratic Republic of the Congo (8m hectares), Colombia (1m hectares), Guatemala (1.2m hectares), and Chile (100,000 hectares). Many others are expected to follow in the run-up to the Paris climate talks in December 2015 because the restoration of degraded land is expected to qualify for carbon credits.

The UN is listening. A lot hinges on the Paris conference.

by eurogreen on
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In story: 31 October 2014

Re: Living On the Planet
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by eurogreen on
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It's not so clear-cut : (Le Monde)

Blaise declared a state of siege yesterday afternoon, the Army announced a twelve-month transition without details, then Blaise appeared on TV last night to cancel the state of siege and declare that he would form a transitional government and see out his current presidential mandate, and that he renounced the constitutional change, i.e. he would not be eligible for re-election.

Can he get away with this, or is it too late? The opposition demand his resignation as a starting point for negotiations. The Army will decide, I guess. The opposition wants Kouamé Lougué, retired general and former defense minister fired by Blaise in 2003...

Is this the start of an "African Spring"? I read somewhere that, of ten African heads of state who are currently reaching the end of their constitutional mandates, seven are tampering with their constitutions...

by eurogreen on
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Sweden Officially Recognizes 'State of Palestine'
Sweden on Thursday officially recognized the Palestinian Authority (PA) as the "state of Palestine," Stockholm's foreign minister said, less than a month after the government announced its intention to make the controversial move.

"Today the government takes the decision to recognize the state of Palestine," Foreign Minister Margot Wallstrom said in a statement published in the Dagens Nyheter daily.

Israel's ambassador recalled from Sweden

Israel has recalled its ambassador from Stockholm "in irritation" that Sweden has officially recognized the State of Palestine.


by A swedish kind of death on
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EUobserver / Has the EU lost the ability to enact sanctions?
The writer is a freelance political consultant and blogger based in Slovakia

The unstated assumption in this opinion piece is that "punching its weight" for the EU means doing what the US wants.

by afew (afew(a in a circle)eurotrib_dot_com) on
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In story: 30 October 2014

Re: Living on the Planet
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Scientists make enzyme that could help explain origins of life -- ScienceDaily
"We started thinking: it feels a little weird but you can shake the wrong hand of somebody else,"

This chirality thing sounds promising. <runs away>

by afew (afew(a in a circle)eurotrib_dot_com) on
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In story: 30 October 2014

Re: Living off the Planet
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dvx:
Imagine nearly 6,000 dairy cows doing what cows do, belching and being flatulent for a full year. That's how much methane was emitted from one Ohio reservoir in 2012.

Any common-or-garden generalist publication would have come up with some stupid comparison that not only takes readers for cretins but also gives no useful notion of scale.

But, thank goodness, this is a scientific magazine.

by afew (afew(a in a circle)eurotrib_dot_com) on
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In story: 31 October 2014

Another German strike
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After the Deutsche Bahn and Lufthansa, who would you guess goes on strike next in Germany? Did anybody guess real estate agents?? They don't like a proposed law that would make owners, not renters, pay their fees.
Na, da haben Wohnungssuchende ja Glück gehabt. Mit einem Streik der Immobilienmakler am 7. November wolle man nicht die ganze Bundesrepublik lahmlegen, sagt Helge Norbert Ziegler, Vorstand des Bundesverbands für die Immobilienwirtschaft (BVFI). Das könne man auch gar nicht. Trotzdem hat der Verband 11.000 Mitglieder dazu aufgerufen, sich bis Freitag an einer Urabstimmung über Streik zu beteiligen. Etwa 20 Prozent haben bereits votiert. "Die Tendenz zeigt Richtung Streik", sagt Ziegler.

Was ihn und seinen Verband aufregt, ist das Bestellerprinzip, das in der ersten Jahreshälfte 2015 in Kraft treten soll. Es bedeutet, dass künftig derjenige die Courtage oder Provision für den Makler bezahlen muss, der den Makler beauftragt hat. Das ist meist der Vermieter. Bislang muss der Mieter zahlen - und zwar bis zu zwei Monatskaltmieten plus Mehrwertsteuer.

by gk (gk) on
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In story: Midweek Crisis OT

Re: Ha'aretz catoon
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Yea, I don't believe that the US will really do anything to upset Israel either. So Netenyahu is just doing his usual act of ginning up a crisis out of nothing for domestic electoral purposes.

by Helen (lareinagal at yahoo dot co dot uk) on
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In story: Start the Week OT

Re: Augustine was a Big Banger
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Is it so hard for the Western (sic) mind to conceive of nothingness without serious re-hardwiring?

Silence came before sound, darkness before light just as the void preceded all phenomena.

And you can't prove a negative... ;)

by melo (melometa4(at)gmail.com) on
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In story: 31 October 2014

Re: Living Off the Planet
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In Wales:
complaining of "lack of trust".

Those unreasonable Russians! How could they not trust a nice bunch of citizen-shelling fascistoids like us?

Irony meter....broken

by melo (melometa4(at)gmail.com) on
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In story: Midweek Crisis OT

Re: Ha'aretz catoon
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We are supposed to assume that the tension between Netanyahu and Obama is so genuine, serious, even dirty?
by das monde on
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In story: 31 October 2014

Re: Economy and Finance
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Children Fall Prey to the Dangers of Austerity | David Bull

Six years on from the start of the global financial and economic crisis, the world still finds itself tightly tethered to austerity. But how are the poorest children faring in the UK, Europe and other well-off countries? What is the impact of austerity on the Children of the Recession?

Governments across the EU and OECD, including the UK made a dramatic shift from the stimulus policies in the immediate aftermath of the financial crisis to stringent cuts in public spending in a bid to control the public finances. But what we can see from the latest in UNICEF's Report Card series is that different policy choices have helped protect the most vulnerable children in some countries through the struggles of recession and austerity while levels of child poverty have worsened in others.

by In Wales (inwales aaat eurotrib.com) on
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In story: 31 October 2014

Re: Living Off the Planet
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Plans for giant Antarctic marine reserve falter for fourth time | Environment | theguardian.com

A plan to protect a vast swath of ocean off Antarctica by creating the world's largest marine reserve appeared headed for failure for the fourth time.

The countries that make decisions about Antarctic fishing finish a 10-day meeting on Friday in Hobart, Australia.

by In Wales (inwales aaat eurotrib.com) on
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In story: 31 October 2014

Re: Living Off the Planet
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Regreening program to restore one-sixth of Ethiopia's land | Environment | theguardian.com

Fifteen years years ago the villages around Abrha Weatsbha in northern Ethiopia were on the point of being abandoned. The hillsides were barren, the communities, plagued by floods and droughts, needed constant food aid, and the soil was being washed away.

Today, Abrha Weatsbha in the Tigray region is unrecognisable and an environmental catastrophe has been averted following the planting of many millions of tree and bush seedlings. Wells that were dry have been recharged, the soil is in better shape, fruit trees grow in the valleys and the hillsides are green again.

by In Wales (inwales aaat eurotrib.com) on
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In story: 31 October 2014

Re: Living Off the Planet
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Photographs of Sellafield nuclear plant prompt fears over radioactive risk | Environment | The Guardian
Previously unseen pictures of two storage ponds containing hundreds of highly radioactive fuel rods at the Sellafield nuclear plant show cracked concrete, seagulls bathing in the water and weeds growing around derelict machinery. But a spokesman for owners Sellafield Ltd said the 60-year-old ponds will not be cleaned up for decades, despite concern that they are in a dangerous state and could cause a large release of radioactive material if they are allowed to deteriorate further.
by In Wales (inwales aaat eurotrib.com) on
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News and Views

 31 October 2014

by In Wales - Oct 30, 41 comments

Your take on today's news media

 30 October 2014

by dvx - Oct 29, 55 comments

Your take on today's news media

 Midweek Crisis OT

by afew - Oct 29, 23 comments

It's like a midlife crisis

 Start the Week OT

by Helen - Oct 27, 37 comments

Defences down with the trust of a child

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