OBAMA’S SADLY EMPTY WORDS ABOUT AMERICA - IT’S TIME FOR AMERICA TO SHUT-UP AND ROLL-UP ITS SLEEVES - BUT THAT WILL NEVER HAPPEN
Competitiveness and innovation are never affected by government exhortations, nor indeed are they affected by any other exhortations, including those of business schools or “inspirational” speakers.
They come from the underlying real economic and financial conditions of a country and of the world in which it functions.
One can only look at the United States’ (…)
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OBAMA’S EMPTY WORDS ON AMERICA - TIME FOR AMERICA TO SHUT-UP & ROLL-UP ITS SLEEVES - BUT IT WON’T HAPPEN
30 January 2011 par (Open-Publishing)
1 comment -
France joins Ireland in ‘raiding national pension fund’
30 November 2010 par (Open-Publishing)
France has reportedly passed a law to use the assets in its €36 billion national reserve pension fund to pay off welfare system debts, as Ireland tapped its own reserve pension fund to supplement an EU-IMF bailout.
The assets of the French pension fund, the Fonds de réserve pour les retraites, have been moved into the agency in charge of refinancing the country’s social debt, Cades, Financial News reported.
According to the newspaper, the fund will continue to control the assets, but as (…) -
Ireland must find €17.5bn from its pension fund and reserves for bailout
30 November 2010 par (Open-Publishing)
Contribution demanded at meeting of eurozone ministers as proposals to shore up euro also outlined
EU ministers tonight spelt out the terms of Ireland’s €85bn international financial rescue package, and revealed the Dublin government will have to raid its national pension fund and other cash reserves for €17.5bn as a condition of the deal to bail out its banks and debt-laden economy.
The unexpected contribution from Ireland was demanded at a hastily arranged meeting of the eurozone’s (…) -
Financial News: France Seizes EUR36 Billion Of Pension Assets
30 November 2010 par (Open-Publishing)
Asset managers will have the chance to get billions of euros in mandates in the next few months for the EUR36 billion Fonds de R??serve pour les Retraites (FRR), the French reserve pension fund, after the French parliament last week passed a law to use its assets to pay off the debts of France’s welfare system.
The assets have been transferred into the state’s social debt sinking fund Cades. The FRR will continue to control the assets, but as a third-party manager on behalf of Cades.
The (…) -
Another Great Day for Democracy
22 October 2010 par (Open-Publishing)
2 commentsBy David Glenn Cox
There is good journalism and then there is bad journalism and then there is reprehensible journalism. The reprehensible journalist is akin to the kid whose parents worked two jobs so he could attend the Julliard school of music. Only to graduate and take a job with Muszak rewriting Black Sabbath songs to be used as elevator music with a Paul Anka impersonator singing, “I am Iron Man.”
It is reprehensible not just because it is bad, but because the opportunity is there (…) -
Gold: On the Edge with Jim Willie & Max Kaiser
20 September 2010 par (Open-Publishing)
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GEAB N°47: Welcome to the United States of Austerity
19 September 2010 par (Open-Publishing)
GEAB N°47 is available! The Global systemic crisis – Spring 2011: Welcome to the United States of Austerity / Towards a very serious breakdown of the world economic and financial system Public announcement GEAB N°47 (September 16, 2010) -
As anticipated by LEAP/E2020 last February in the GEAB No. 42, the second half of 2010 is really characterized by a sudden worsening of the crisis marked by the end of the illusion of recovery maintained by Western leaders (1) and the thousands of (…) -
The Big Bang Leads to the Big Whimper (aka: Basel III)
15 September 2010 par (Open-Publishing)
The Big Bang Leads to the Big Whimper (aka: Basel III)
Mittwoch, 15. September 2010 05:23 von Bill Black
The following essay appeared first on Benzinga, a financial website in the U.S.A., where Bill Black publishes a column covering regulation. Black is the author of The Best Way to Rob a Bank Is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. His academic articles, congressional testimony, and musings about the financial crisis can (…) -
Ultimately, Don Quixote will Triumph
14 September 2010 par (Open-Publishing)
Ultimately, Don Quixote will Triumph
Sonntag, 12. September 2010 22:23 von Lars Schall
Bill Murphy, the chairman of the Gold Anti-Trust Action Committee, gave chaostheorien.de an exclusive interview, in which he stressed the importance of a clear understanding of the gold market. Moreover, he explained why central banks can’t prevent the gold price from rising anymore, and said: “The Gold Cartel have been winning battles in the last ten years, but they’re losing the war.“
Bill Murphy (…) -
So Many Suckers So Few Bridges
10 September 2010 par (Open-Publishing)
2 commentsBy David Glenn Cox
I sometimes don’t know who I am anymore. As I was walking to the library and I saw a younger man in a business suit buying gas. I thought to myself, “I used to be him.” He looked well dressed but not prosperous driving a company car and a little unsure of the neighborhood and it made me smile. Then I saw a guy in his twenties shaggy haired pulling out of some apartments and he looked as if he was trying to shake off last night’s buzz or maybe leaving his paramour’s den (…)