by afew
Tue May 21st, 2013 at 10:56:48 AM EST
In Nahuatl, Tuesday is Huītzilōpōchtōnal
by Colman
Tue May 21st, 2013 at 05:10:53 AM EST
It appears that the mythical Irish disregard for distance when giving directions to tourists extends to our financial overlords: it turns out that not only is Irish GDP distorted beyond recognition by the retained profits of multinationals with European headquarters in Ireland, so is GNP, GNI, balance of payments and the export figures, distorting all the statistics used by the government and EU to report the stunning progress of the five-year plan. Ten-year plan. Adjustment programme.
Irish Economy and RTÉ have good starting points for the numbers. Note that the current account surplus needs to be adjusted down to 0.5% from 5%!
It seems to me that the economy here is recovering, somewhat, but I have an awful fear that it's bifurcating into a recovery for the middle income groups that are in relatively protected areas - including those working for the multinationals - and a continuing slide into poverty for the underclass as government supports and services are cut away from them.
by afew
Mon May 20th, 2013 at 03:33:31 PM EST
Your take on today's news media
by afew
Mon May 20th, 2013 at 11:59:25 AM EST
Here's a new one
by afew
Mon May 20th, 2013 at 03:14:01 AM EST
Wolfgang Münchau in the FT makes the case that there has been too much rationalisation in the defence of a united Europe, and not enough emotion.
It doesn’t make much sense but I’m a eurofanatic - FT.com
Where I differ from many pro-Europeans in the UK is that I simply do not need any economic reason to arrive at this position, or any rational reason at all for that matter. I am like a six year old in this respect. I want the EU because I want it. Maybe it is a cultural thing, maybe the result of learning Latin as a first foreign language, some trip abroad in my youth or a long forgotten encounter. I have no idea. Whatever it was that turned me into a pro-European a few decades back, it was not the joyful anticipation of productivity gains from a single market.
There is no hope of persuading anyone to support the European idea (let alone the EU as presently constituted) on the basis of economics alone. As Münchau says, economic errors abound in the history of the EU. One is tempted to add the epithet "crippling". Neither is another "rational" argument convincing: that European economic integration has ensured peace on the continent. On the contrary, the current Eurozone situation of economic violence should lead any rational or irrational observer to fear for the future.
It doesn’t make much sense but I’m a eurofanatic - FT.comIf you just base it on rationality, you may find that people consider it rational to enter into an alliance when the benefits are clear and then leave it when they are not. Without any emotional glue, the EU is very hard to defend as an institutional framework designed to last forever.
by afew
Sun May 19th, 2013 at 04:08:35 PM EST
Your take on today's news media
by afew
Sat May 18th, 2013 at 11:43:09 AM EST
The thread for the weekend is open
by DoDo
Sat May 18th, 2013 at 07:23:19 AM EST
[Hoisted from the Weekend Newsroom]
For some time now, there is strong lobbying for a transatlantic free-trade zone (as if the EU itself and European national governments wouldn't do enough undermining all of their non-free-trade foundations already). On Thursday (16 May), it was the European Business Summit's turn, as reported in EurActiv. But the article also lists several transatlantic disputes that limit the prospects of such initiatives, such as those about financial services, hormone-treated beef, GMOs, culture and ACTA. Now what's the take of the attending EU Commissioner?
“If you spend too much time on issues you might never achieve results,” said Trade Commissioner Karel De Gucht, speaking at the European Business Summit.
Issues don't matter! And never mind defining what "results" you mean.
by DoDo
Fri May 17th, 2013 at 03:37:39 PM EST
Your take on today's news media
by Fran
Fri May 17th, 2013 at 09:50:35 AM EST
Long weekend ahead....
by In Wales
Thu May 16th, 2013 at 04:12:49 PM EST
Your take on today's news media
by afew
Thu May 16th, 2013 at 10:37:19 AM EST
It's this threadbare rug I had
by dvx
Wed May 15th, 2013 at 04:56:36 PM EST
[Hoisted from today's Newsroom]
I try to stay optimistic. Or at least hopeful.
But just days ago, we were treated to this wakeup call:
Global carbon dioxide levels set to pass 400ppm milestone | Environment | The Guardian
The concentration of carbon dioxide in the atmosphere has reached 399.72 parts per million (ppm) and is likely to pass the symbolically important 400ppm level for the first time in the next few days.
And what's the first response of a major power since that news breaks?
China angles for Arctic power as ice melts - Features - Al Jazeera English
Ice is melting away at a record-breaking rate in the Arctic, exposing valuable natural resources and opening up new shipping routes. Measurements taken last August found levels of Arctic sea ice were at their lowest levels since satellites began measuring the ice in 1979.
China doesn't own any Arctic territory - in fact, its northernmost point is more than 1,400km south of the Arctic Circle. But it's nevertheless taking a strong interest in the region, building a physical presence there and using diplomacy and trade ties to gain a foothold.
China’s actions in the region have paid off as it, along with five other non-Arctic states, have been granted permanent observer status to the Arctic Council, an intergovernmental forum of eight countries with Arctic territory.
Gaining observer status does not allow China any voting rights on the Arctic Council. But it does give it sway in an increasingly important region. Not only does the shrinking ice have climate implications; warming temperatures at the poles have raised the possibility of access to as much as 90 billion barrels of oil and 1,670 trillion cubic feet of natural gas.
To position itself to burn some more. D'uh.
Sometimes it feels like Walter's response is the only one that makes sense:
by dvx
Wed May 15th, 2013 at 03:27:50 PM EST
Your take on today's news media
by afew
Wed May 15th, 2013 at 10:36:55 AM EST
Let the sunshine in!
by afew
Wed May 15th, 2013 at 02:58:18 AM EST
The French statistics institute INSEE announces this morning that the French economy is in recession.
French Economy Slips Into Recession, Adding Pressure on Hollande - Bloomberg
The French economy fell into its third recession in four years, increasing pressure on President Francois Hollande to adopt policies to revive growth. Gross domestic product shrank 0.2 percent in the three months through March, following a revised 0.2 percent contraction in the previous quarter, national statistics office Insee said today.
At the same time, INSEE publishes national accounts for 2012 (in French) that show a fall in the purchasing power of household income of 0.9% for that year.
The automatic stabilizers are losing their rosy complexion and looking increasingly pale.
Not to worry, Olli Rehn has the solution:
French Economy Slips Into Recession, Adding Pressure on Hollande - Bloomberg
“France badly needs to unblock its growth potential and create jobs,” European Economic Affairs Commissioner Olli Rehn told reporters in Brussels on May 3. The country needs to “put a renewed and strong emphasis on structural reforms in the labor market, in the pension systems, by opening up closed professions and services markets.”
That will surely do the trick.
by ceebs
Tue May 14th, 2013 at 03:56:52 PM EST
Your take on today's news media
by afew
Tue May 14th, 2013 at 11:24:20 AM EST
The long and the short of it
by afew
Mon May 13th, 2013 at 05:03:51 PM EST
Your take on today's news media
by DoDo
Mon May 13th, 2013 at 01:43:50 PM EST
Still in the Monday blues?
