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Winding down U.S. housing agencies Fannie and Freddie- the U.S. Treasury report of 2011 (2)
02/12/2011
Linked Articles
Wall Street Journal 02/14/2011
Number of the Week: Government’s Overwhelming Role in MortgagesWall Street Journal 02/12/2011
The Elop memo in 2011 and the sale of Nokia's mobile phone business to Microsoft in 2013- the startling change of fortunes for Nokia
02/09/2011
Nokia was a pioneer in the development of mobile phones in an earlier era when fixed lines were the norm. It dominated the mobile phone business in the period before 2009 for 2 decades before the coming of smartphones. The change in Nokia's market came quickly and suddenly with the advent of the iPhone and Nokia was unprepared for this development. This is a classic case of obsolesence and disruptions caused by innovation and new technologies. Other companies from the previous era before cloud computing and the internet, H-P, Oracle, IBM, and Microsoft, face the continuing challenge to adapt or lose to new competitors.
Linked Articles
Microsoft in $7 Billion Deal for Nokia Cellphone Business
Wall Street Journal 09/03/2013
Full Text: Nokia CEO Stephen Elop’s ‘Burning Platform’ MemoWall Street Journal 02/09/2011
Angela Merkel's experience with the reunification of East and West Germany and her views of the eurozone crisis
01/30/2011
The perceptions of the eurozone crisis of ordinary Germans and of former East German Angela Merkel are colored by the period of reunification of the two Germany's. This was paid for with a"solidarity surcharge" tax paid by Germans amounting to $1.7 trillion and led in its early stages to 4 million unemployed in the eastern part and 20% unemployment. It took over a decade for East Germany to build new modernized industries in the larger cities of the east, but still leaves the rural parts of former East Germany in a neglected state as young peoplemoved out. During this period industry in the west also regained lost global competitiveness, especially in industries such as automobiles and advanced machinery, using wage restraint agreements with unions and increases in productivity. Germans see the need for eurozone countries in the southern part of Europe needing to make similiar sacrifices and see the tax evasion in Italy and Greece as unacceptable. The real estate bubble, the lack of transparency for banks bad loans, and out of control regional spending in Spain is also seen in a similiar light. Greece is seen as the most egregious offendor because of the bad financial accounting that grossly understated the extent of the bad loans. Less publicized in Germany is the role played in the bad loans through poor lending practices of German and French banks and that as experts have pointed out Germany was to some extent bailing out German banks when it was bailing out Greece- till German banks reduced their exposure to Greece in 2011.
Linked Articles
In former East Germany, anxious residents resent paying for Europe’s problems - The Washington Post
Washington Post 06/21/2012
Merkel's Defense of Euro Forged in East GermanyNew York Times 01/30/2011
America, Jobs and Competitiveness- (1) "Getting it right" with GE Capital
01/21/2011
Linked Articles
GE Seeks Exit from Banking Business
Wall Street Journal 04/10/2015
Jeffrey R. Immelt - A blueprint for keeping America competitiveWashington Post 01/21/2011
China's efforts to build its Strategic Oil Reserves in 2011-2012 and pressure on oil prices in 2012 (2)
12/30/2010
Linked Articles
China Seen Bolstering Oil Reserves
Wall Street Journal 04/11/2012
China May Throw Wrench Into Oil MarketWall Street Journal 12/30/2010
Criticism and reservations about the Fed's second round of quantitative easing.
10/25/2010
The likelihood that the US Federal Reserve's move to buy an estimated $750 billion of Treasury bonds will be ineffective in the absence ofiscal policy options.
Linked Articles
Wall Street Journal 10/26/2010
Our Fiscal Policy ParadoxWall Street Journal 10/25/2010
The 61 million children of migrant workers left behind in China- 75% visited only once a year and 70% under the age of 11
08/27/2010
The price of rapid industrialization in China being paid by children of migrant workers and their parents- about 200 million people or close to 20% of the population. Government policy requires migrant workers leaving rural areas to work in factories to leave behind their children.
Linked Articles
Left-Behind Children of China's Migrant Workers Bear Grown-Up Burdens
Wall Street Journal 01/17/2014
Lixin Fan, Trailing Chinese Migrant WorkersNew York Times 08/27/2010
What the U.S. and other eurozone countries can learn from Germany to reduce unemployment (2)
07/29/2010
The "kurzarbeit" program for job retention in Germany and how it is beginning to be applied in the U.S.
Linked Articles
Wall Street Journal 11/21/2011
The Price of Saving Jobs in GermanyBusinessWeek 07/29/2010
Greece's referendum and the 3 year bailout of July 12, 2015- military spending, shipowners taxes, and cuts to pensions
07/10/2010
Greece's left Syriza government almost pulled the country out of the eurozone over pension cuts, even as military spending in Greece remained at 2.4% of GNP compared to close 1.4% for the EU average. Greece did not propose further cuts to military spending to bring the Greece ratio closer to that of Germany and other countries in Europe, raising questions about prudent spending. Which is why Greece sometimes has aspects of the surreal to people not just in Germany and Holland, but other parts of Europe, and outsiders. Under the reform proposal and bailout of July 12, 2015 following the "no" referendum, Greece's parliament voted overwhelmingly in favor of the similiar cuts in pensions from an earlier EU proposal, with cuts of $300 million to the military spending by 2016. Greek shipowners will also pay taxes under the new bailout, negotiated by Greece with France's help when the referendum had damaged relations with the rest of the EU, particularly Germany with only 10% in polls willing to support any further concessions.
Linked Articles
Wall Street Journal 07/11/2015
The Submarine Deals That Helped Sink GreeceWall Street Journal 07/10/2010
The paradox of low U.S. productivity growth holding back wages in 2015-2016 (2)- Apple, Google, Facebook and low productivity improvement since 2005
07/01/2010
Linked Articles
Andy Grove: How America Can Create Jobs
BusinessWeek 07/01/2010
The Mystery of Declining Productivity GrowthWall Street Journal 05/15/2015
Difficulties for Italian borrowing in capital markets
05/14/2010
Larger spreads between Italian and German bonds that add to the interest rate burden on large debt.
Linked Articles
Italy Seeks to Spur Growth, Narrowing Gap With Peers
Wall Street Journal 07/18/2011
Italy's debt fuels worriesWall Street Journal 05/14/2010
Hope and reality in Nigeria (2)- President Goodluck Jonathan 2011-2015, and President Muhammadu Buhari 2015-2019
02/20/2010
The hope of so many young Nigerians rest on Buhari getting things right and restoring confidence in government and the management of the economy after four years of the Jonathan adminsitration.
Linked Articles
Muhammadu Buhari Defeats Goodluck Jonathan in Nigeria Election
Wall Street Journal 04/01/2015
An Accidental Leader Stirs Hopes in NigeriaNew York Times 02/20/2010
The new coaltiion governement of Liberals and Conservatives in Britain.
10/08/2009
A common program for the 2 parties to attack the U.K.'s budget deficit with spending cuts. A pragmatic sensible approach from Cameron and Clegg.
Linked Articles
Britain's accidental revolution
Economist 05/13/2010
That's more like itEconomist 10/08/2009
Muni-Bond Default Estimates of $100 Billion
02/09/2011
Estimates on muni-bonds default range from the high side presented by Meredith Whitney to the more moderate estimate of $100 billion over several years by Roubini.
Linked Articles
Muni Default Estimate: $100 Billion
Wall Street Journal 03/02/2011
In Muni-Bond Ills, Danger and HopeWall Street Journal 02/09/2011
Meredith Whitney's forecast of hundreds of billions of dollars in U.S. muni-bond defaults
02/07/2011
A more moderate estimate by Roubini of $100 billion. The serious problems in state and local governmet finances in the U.S.
Linked Articles
Muni Default Estimate: $100 Billion
Wall Street Journal 03/02/2011
Meredith Whitneyâs Muni Bond Prediction Draws ScrutinyNew York Times 02/07/2011
Greece's Path Back (10)- Germany's and chancellor Merkel's view of the euro and the changes needed
01/30/2011
Linked Articles
Wall Street Journal 04/10/2013
Merkel's Defense of Euro Forged in East GermanyNew York Times 01/30/2011
The WSJ editorial board and Alan Blinder on why the escalation in healthcare costs works havoc on the U.S. deficit (2)
01/08/2011
Linked Articles
Wall Street Journal 01/08/2011
Four Deficit Myths and a Frightening FactWall Street Journal 01/19/2012
Taylor and Cochrane say the French and German banks exaggerated the effects of contagion in the Greece debt crisis from the beginning
12/02/2010
Prof. Cochrane at the University of Chicago and Prof. Taylor at Stanford University, say French and German banks exaggerated the effects of contagion from the beginning as a way to delay writedowns on Greek bonds held by the banks. The appearance of lurching from one summit negotiation to the next throughout 2011 dented confidence in the eurozone with slowing or negative growth in eurozone economies, and is likely to hurt banks operating in the new economic enviroment.
Linked Articles
'Contagion' and Other Euro Myths
Wall Street Journal 12/02/2010
A Better Grecian BailoutWall Street Journal 02/22/2012
Erfurt, Thuringia, Germany- (1) in 2010 20 years after reunification of Germany, and Erfurt in 2015 as it copes with a wave of refugees in 2015
09/30/2010
Linked Articles
Empathy and Angst in a German City Transformed by Refugees
New York Times 09/11/2015
For Some Germans, Unity Is Still Work in ProgressNew York Times 09/30/2010
China's sovereign wealth fund, China Investment Corporation (CIC), and the decreasing prospects for buying eurozone bonds
08/21/2010
Linked Articles
China Rebuffs Hopes for Bailout
Wall Street Journal 09/26/2011
Chinese banks: Circular logicEconomist 08/21/2010
David Stockman says Republicans have given up their role in doing financially responsible budgeting for decades.
07/11/2010
The budget deficits, Reagan's Budget director says, developed to this point after decades of irresponsivble budget behaviour that has lasted gone on for four decades. He says the Greece style deficit of 120% of GDP for the USA by 2015 calls for austerity.
Linked Articles
Four Deformations of the Apocalypse
New York Times 07/31/2010
Crisis Awaits Worldâs Banks as Trillions Come DueNew York Times 07/11/2010
America, Jobs and Competitiveness- (2) "Getting it right", the legacy of Andy Grove at Intel Corp. and Jeffrey Immelt at GE
07/01/2010
Linked Articles
Jeffrey R. Immelt - A blueprint for keeping America competitive
Washington Post 01/21/2011
Andy Grove: How America Can Create JobsBusinessWeek 07/01/2010
Paul Volcker and Economists in the Squam Lake Group share concerns about the U.S. Financial Stability Oversight Council
06/15/2010
Volcker voiced his concern that a lot depends on how tough and vigilant a new council is with banks in the US on a day to day basis. The 10 member Financial Oversight Council was set up in the US financial reform bill of 2010. Some of the economists in the Squam Lake Group, 15 highly reputed economists in the U.S., also share this concern.
Linked Articles
Paul Volcker Pushes for Reform, and Regrets His Past Silence
New York Times 07/09/2010
15 Economists Issue Crisis-Prevention ManualNew York Times 06/15/2010
The public finances of France affect the credibility of the $1 trillon eurozone support package.
05/13/2010
How this affects Spain, Portugal, Italy and other countries facing financial crisis.
Linked Articles
French Cracks Are Showing in Euro-Zone Core
Wall Street Journal 05/13/2010
Italy's debt fuels worriesWall Street Journal 05/14/2010
Danone and P&G's (Procter & Gamble) innovative strategies for reaching low income customers in emerging markets.
12/12/2009
In 2004 Indonesian managers showed Franck Riboud, CEO of Danone, a pyramid of customers in Indonesia's population of 240 million people. It showed only 20 million customers at the top of the pyramid as the only ones who could afford Danone products. At that point Ribaud made up his mind to go after the large number of people at the lower end of the pyramid and come with strategies to do this profitably. By 2010 46% of Danone's sales were from emerging markets, up from 10% a decade earlier, showing the pace of the change. Unilever, P&G, Nestle, Colgate-Palmolive and other companies are following similiar strategies. P&G has used Mexico as a lab for experimenting with new products at low price points and Danone has done this in Indonesia.
Linked Articles
Danone Expands Its Pantry to Woo the World's Poor
Wall Street Journal 06/25/2010
P.& G. Sees the World as Its ClientNew York Times 12/12/2009
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