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The criminal investigation into alleged tax fraud in trading of carbon emissions certificates, the raid at Deutsche Bank's Frankfurt headquarters in Dec. 2012, and arrest of some senior executives, continues problems with the bank's image in Germany since the 2008 financial crisis. Deutsche Bank's was highly leveraged during the 2008 financial crisis and is perceived as contributing to the crisis. Changing the culture at the bank is likely to take more than the introduction of the new co-CEO arrangement in mid 2012 with Anshu Jain and Jurgen Fitschen, say experts. Germany's judiciary was critical of Fitschen for not respecting the independence of the judiciary and understanding the separation of powers for a call he made protesting the raid in the investigation.
Linked Articles
Image Remake Suffers Hit at Deutsche Bank
Wall Street Journal 12/20/2012
Deutsche Bank Lists Litany of Legal RisksWall Street Journal 03/21/2012
The shift in China's economy towards consumption led growth from infrastructure development led growth is likely to affect mining commodity producing economies such as Australia, Brazil and Chile. The rapid appreciation of the Australian dollar and the real is also affecting the competitiveness of manufacturing in these countries.
Linked Articles
Australia Budget Turns Boom on Its Head
Wall Street Journal 05/09/2012
China Speeds Economic 'Transformation'Wall Street Journal 03/06/2012
Cochrane points to regulations and laws that support high prices of medical carein the U.S., by reducing competition and restricting supply of doctors and suppliers of medical care. He says the mandate most likely would not even be necessary under such a system because the costs of healthcare in the U.S. would be so much lower.
Linked Articles
What to Do on the Day After ObamaCare
Wall Street Journal 04/03/2012
Why an MRI costs $1,080 in America and $280 in France - The Washington PostWashington Post 03/05/2012
Draghi tells WSJ interviewers what economist Dornbusch once told him- the Europeans were so rich they did not have to work anymore. Draghi and Fornero emphasize the large culture change needed in Italy. Fornero says too often labor, business, and govenment tweaked the rules to benefit one special group, and Italy lost its sense of being a rule bound society.
Linked Articles
Italy Official Seeks Culture Shift in New Law
Wall Street Journal 06/27/2012
Europe's Banker Talks ToughWall Street Journal 02/24/2012
Linked Articles
China's Central Banker Leads Push to Overhaul Economy
Wall Street Journal 11/05/2013
New Push for Reform in ChinaWall Street Journal 02/23/2012
Surprisingly the Syriza government in 6 months in office did not come up with a plan to implement for tax evasion. This was a major issue for the IMF and in Greece's interest, even though it was going contrary to long standing practice in Greece as it was in Italy. Estimates of lost revenue are about $11 billion each year for tax evasion. By comparison the IMF payment due was less than $2 billion on June 30, 2015. Sustainable long term finances make this a major issue in Greece's own interest. Greece has an aging population and the number of retirees are growing in relation to young working people making this an important issue for stable finances under any administration, and regardless of the euro.
Linked Articles
How Greek tax evasion sunk the global economy
Washington Post 07/10/2012
A Hollow Target for Greek DebtWall Street Journal 02/18/2012
Linked Articles
Europe Remains G.M.'s Weak Spot
New York Times 02/15/2012
GM Sees Expanded European LossesWall Street Journal 07/16/2012
Linked Articles
France Pins Hopes on Youth Jobs Plan
Wall Street Journal 12/25/2012
Spain Approves Changes to Labor PolicyNew York Times 02/10/2012
The ideas and thinking of China's leaders and how this will affect China and the global economy.
Linked Articles
Heartland Return for Chinese Leader
Wall Street Journal 01/31/2012
Next Premier Came of Age in Era of OpennessWall Street Journal 11/16/2012
By a 26% margin financially strapped white voters affected by high unemployment favor Romney over Obama. This is wider than the 18% margin by which Obama, Kerry and Gore lost this group in prior elections. It will be crucial in states such as Ohio, Pennsylvania, Wisconsin and Michigan which were hard hit by the economic downturn.
Linked Articles
Romney holds key advantages among financially struggling white voters - The Washington Post
Washington Post 05/25/2012
White Blue-Collar Vote May Be Crucial in ElectionNew York Times 01/13/2012
Linked Articles
Jobs Data May Be Icing on America's Birthday Cake
Wall Street Journal 07/03/2014
Strong ADP Jobs Gain Needs Grain of SaltWall Street Journal 01/05/2012
Linked Articles
Wall Street Journal 03/26/2013
Deepening Crisis Over Euro Pits Leader Against LeaderWall Street Journal 12/30/2011
Linked Articles
New York Times 12/18/2011
Economists: China Mirrors U.S. on Eve of Financial CrisisWall Street Journal 03/18/2013
The need for stimulus to keep jobs for migrant workers and maintain social stability does not exist in 2012 the way it appeared in 2008, when about 20% of migrant workers lost their jobs and wages for migrant workers fell by 10%, according to estimates by the Chinese Academy of Sciences and Stanford University. In 2012 there is excess demand for labor and reports show the efforts to reduce the 60 hour work week in some factories is running into problems with a shortage of labor. This means less need for stimulus that would aggravate problems in the housing bubble and inflation.
Linked Articles
China's Workers in No Need of Stimulation
Wall Street Journal 06/04/2012
China's Wage Hikes Ripple Across AsiaWall Street Journal 03/14/2012
China's premier Wen Biao told the National People's Congress, China's parliament, in March 2012, that it was urgent to tackel the "problem of uncoordinated, unbalanced, and unsustainable development." He called for "an acceleration of the transformation" of the economic model towards consumption and away from exports and infrastructure spending. The accelerated approval of 254 investment projects in May 2012 puts off this task of rebalancing development for China and the world economy. With slowing growth in China and the last Stimulus of 2008 having propelled the housing bubble, the options were limited. A decrease in the reserve requirement by 0.5% in 2012 for China's banks was not expected to spur growth because lending was not expected to increase, as the demand for loans is low. A sharp falloff in growth below 7% was feared leading to the acceleration in investment.
Linked Articles
China’s stimulus policy means trouble down the road - The Washington Post
Washington Post 05/31/2012
China Speeds Economic 'Transformation'Wall Street Journal 03/06/2012
Ford plans to invest $600 million to more than double manufacturing capacity in Chongqing to 770,000 by 2014. This comes at a time of major slowdown in the market in China after years of hyper growth. Ford lags behing GM and VW in China and missed some of the spurt in growth.
Linked Articles
Ford Plans to Boost Production in China
Wall Street Journal 04/06/2012
Ford Faces China HurdlesWall Street Journal 02/27/2012
The road map and priorities of the DRC and the PBOC are now the road map and priorities of the Jinping-Keqiang administration A sense of deepening awareness takes hold on party leaders Jinping and Li Keqiang that the current trajectory of Debt to GDP ratios could lead to the kind of situation before the banking crisis in Japan and S. Korea. The importance of striking a balance with growth of private companies to support future growth and move away from reliance on state owned enterprises is part of the change supported by DRC and PBOC.
Linked Articles
China's Central Banker Leads Push to Overhaul Economy
Wall Street Journal 11/05/2013
New Push for Reform in ChinaWall Street Journal 02/23/2012
Linked Articles
Obama Adviser's Strategy Is High Risk, High Reward
Wall Street Journal 10/31/2012
Plouffe, Obama Aide, Lends Firm Hand to CampaignNew York Times 02/20/2012
The IMF's view is that it could take 5 years before the breakeven point on the effects of austerity measures is reached and it turns positive. The "German hypothesis" based on German experience as an exporting nation is that the benefits come sooner in the short term. For Britain, which is not an exporting nation like Germany, the benefits from exports are likely to be limited when the rest of Europe is'seeing declining or stagnant growth. The IMF view means Britain may be faced with the costs of the Cameron-Osborne austerity measures till 2016.
Linked Articles
Britain's Economy Contracts More Than Predicted
New York Times 03/28/2012
Austerity Debate a Matter of DegreeWall Street Journal 02/17/2012
France's Socialist presidential candidate Hollande considers the EU-IMF programs a failure of governance in Europe. He predicts larger public contributions to Greece's debt after the elections in Greece and France.
Linked Articles
Watch Athens, Not Paris, This Weekend
Wall Street Journal 05/04/2012
French Candidate Hollande Assails European Policy on GreeceNew York Times 02/13/2012
Linked Articles
Wall Street Journal 02/02/2012
Americans saw wealth plummet 40 percent from 2007 to 2010, Federal Reserve says - The Washington PostWashington Post 06/12/2012
Noonan asks the question about what a post war generation of Americans, Russians and Japanese could understand about the horrors of nuclear war and of the Second World War, and how this is lacking in the Middle East as each nation strives for nuclear weapons from Iran to Saudi Arabia. Separately in another link Kaname Harada asks a different question- has a new generation in Japan born after 1945, both leaders and the public, forgotten about that period including "Hiroshima."
Linked Articles
Vladimir Putin Describes Loss of a Brother at Ceremony
New York Times 01/27/2012
Misplaying America’s Hand With IranWall Street Journal 04/04/2015
Linked Articles
Chinese Car Makers Struggle to Lure Buyers
Wall Street Journal 04/21/2014
Car Makers Gauge Shift In China's Auto PolicyWall Street Journal 01/06/2012
Linked Articles
Almost-Free Gas Comes at a High Cost
Wall Street Journal 04/12/2013
Nigeria Braces for Gas-Price ProtestsWall Street Journal 01/03/2012
Linked Articles
New York Times 07/17/2012
We all have a stake in China’s real estate bubble - The Washington PostWashington Post 12/24/2011
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