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Ireland, Northern Ireland and Britain- preserving the gains of the peace deal and the open borders after Brexit
07/12/2016
Northern Ireland favored Remain in EU by 55%. Should it be pushed into a situation of withdrawing from the EU like Scotland which also favored Remain based on the preference of voters in England and Wales? Should Ireland be divided by hard borders again after 20 years of peace and open borders? These are questions the people of Ireland are asking.It is also a question for Irish Americans who supported the peace deal.
Linked Articles
The New York Times 07/12/2016
Ireland in the sun after Brexit vote? | Europe | DW.COM | 05.07.2016DW.COM 07/05/2016
Jeremy Corbyn and the proposal in 2015 for a National Investment Bank in Britain to make investments in education, health services and infrastructure
09/11/2015
A new leader of the Labor Party in Britain proposes a National Investment Bank. Some of the funding would come from an estimated 20 billion pounds of tax debt, 20 billion pounds in tax evasion, and 80 billion pounds in tax avoidance, according to experts in the Labor Party. Corbyn says he would reverse the introduction of fees for university education by previous Labor governments and has publicly apologized for the fees. The fees plan would cost about 7.1 billion pounds and be paid for by a 2.5% increase in the corporate tax, slower deficit reduction or increase in the insurance tax, says Corbyn. Germany continues to provide free university education.
Linked Articles
Leftist Jeremy Corbyn elected leader of Britain’s Labour Party - The Washington Post
Washington Post 09/12/2015
Jeremy Corbyn, Unlikely Front-Runner for Labour Leader, Poised to Win Party VoteNew York Times 09/11/2015
Hillary Clinton's plan to change the way the capital gains tax works to encourage long term investors
07/27/2015
Under Hillary Clinton's plan the lower rates for capital gains tax would be introduced with a sliding scale at the highest tax bracket of 39.6%, with the rate gradually declining in year 4, and the rate not reaching the current rate of 23.6% (20% plus a 3.6% surcharge) till year 6 following the investment. Clinton calls it a way to restrain "quarterly capitalism," disincentivize "cut and run shareholders," and incentivize investors "to build companies." One unintended effect of this could also be the shift away from investments that do not support improving productivity levels, to investments that have a longer horizon and have a material effect on productivity growth. Especially considering the low productivity growth improvements in the last decade, as productivity growth will be needed to break out of a period of stagnant wages.
Linked Articles
Wall Street Journal 07/29/2015
Hillary Clinton Aim Is to Thwart Quick Buck on Wall StreetNew York Times 07/27/2015
Judge Barbier's decision that BP acted recklessly and the final 2015 settlement with states and the U.S. government for $18.7 billion on the Deepwater Horizon Gulf Oil Spill
07/03/2015
Linked Articles
BP Faces Up to $13.7 Billion in Fines in Deepwater Gulf Spill Case
Wall Street Journal 07/03/2015
BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill ClaimsWall Street Journal 07/03/2015
Ban on election advertising on commercial television and radio in Britain and strict limits of $29.5 million for each party in general elections- contrast with the U.S.
05/02/2015
Britain disproves the popular belief that an ever upward trajectory for election spending is inevitable. The 2010 general election in Britain cost half that of the 1880 general election in 2002 prices, say researchers. In the U.S. spending has increased to the point where candidates may be spending more time fund raising than talking about the issues. The 2016 presidential election in the U.S. is estimated to lead to $10 billion in spending. India, Brazil, and other developing countries face a similar situation.
Linked Articles
Britain’s Campaign Finance Laws Leave Parties With Idle Money
New York Times 05/04/2015
F.E.C. Can’t Curb 2016 Election Abuse, Commission Chief SaysNew York Times 05/02/2015
Adidas slipping in the U.S. market which sets the trends for the $52 billion global sportswear and athletic footwear market
02/06/2015
Linked Articles
How Adidas Aims to Get Its Cool Back
Wall Street Journal 03/26/2015
Adidas Investors Losing Patience, Want Faster TurnaroundWall Street Journal 02/06/2015
Deep differences in 2015 between Alexis Tsipras of Syriza and the Merkel government in Germany on debt forgiveness and the bailouts for Greece
01/26/2015
The deep differences between Greeks and Merkel operate at two levels. On the level of austerity policies Greece shares the view with other EU countries, the governments of Hollande in France and Renzi in Italy that austerity is not the best course for the eurozone. This view is also shared by people in Spain facing unemployment exceeding 20%, though the government of Rajoy in Spain like that of Samaras in Greece lived with the austerity policies with some changes. At this level there is also support from within Merkel's coalition government from Social Democrats. The other level of deep differences is on debt forgiveness and bailouts where Greece has to find its own way out in negotiations hoping that the EU and the IMF will agree to make concessions based on action taken by Syriza to ensure prudence in fianncial management. On issues such as minimum wage one would expect Syriza to be firm and make concessions where the hardship does not fall on the poorer and working class, winning support from the Social Democrats in Merkel's coalition. Beyond the symbolic moves and posturing the actual negotiations are likely to take into account the eurozone's need for help on the fiscal side desired by the ECB's Draghi to support monetary easing to fight deflation, and the need to keep the eurozone intact at a sensitive time. Syriza for its part is aware that a majority of Greeks favor staying in the eurozone.
Linked Articles
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
A young, impatient leftist is Greece’s defiant new face - The Washington PostWashington Post 01/27/2015
China and corruption under the Xi Jinping administration
12/02/2014
Transparency International gives China 36 points , a decline of 4 points in 2014. Since 2013 China has dropped 20 place in the Corruption Perceptions Index, only Turkey had a steeper drop in points in 2014. Transparency, independent judiciary, free speech, whistleblower protection, and accountable government are factors that determine ranking in the index.
Linked Articles
Wall Street Journal 12/09/2014
China Slips in Corruption Perceptions ReportNew York Times 12/02/2014
China, the U.S. and Japan- the task of reestablishing peaceful cooperation in the Pacific region after the missteps of 2011-2013
07/09/2014
Meetings for the sixth round of the Strategic and Economic Dialogue in Bieijing between the U.S. and China, and Japanese prime minister's address to the Australian parliament in Canberra, at about the same time in July 2014, showing how the path of peaceful cooperation will have to be actively pursued to remain a reality. Underpinning the hopes of China, Japan and neighboring countries in Asia is the U.S. will and purpose for maininting the post war peace and stability for the benefit of all, that at times has been missing in the words and actions of the Obama administration. Lack of peace in the region would seriously affect China's effort to bring better incomes to the large majority of people still in the countryside and leave China stuck in middle income status of countries like Mexico, damage the prospects of improving incomes of billions of people in India, other parts of Asia and Latin America. In this sense the Japanese people have shown the wisdom of keeping the conditions of peace that have prevailed for the post war period, and the U.S. with undiminished will and purpose in its post war role can affirm the hopes of the people of the region, including the hope of people in China, India, Japan, S. Korea, and Latin America.
Linked Articles
U.S., China try to emphasize potential for cooperation - The Washington Post
Washington Post 07/09/2014
Abe's Constitutional Reform Push SlowsWall Street Journal 07/09/2014
BaFin, German federal financial regulatory authority, and the problems at Deutsche Bank- regulators slow to act on information
03/28/2014
Eyk Henning of the WSJ points out the slow response of regulator BaFin to information about problems at Deutsche Bank that suggest a broken culture in a report on March 28, 2014. This comes 6 years after the WSJ first reported the LIBOR rate manipulation in 2008 leading to British and U.S. regulatory investigations. In April 2015 Deutsche Bank made a legal settlement for LIBOR rate manipulation of $2.5 billion with U.S. and British regulators. As the time when regulatory authority passes to the European Central Bank, and after a period of 7 years since the 2008 WSJ report, BaFin finally sends its report on the broken culture at the bank. A month later the two co-CEO's at the bank resign.
Linked Articles
Germany Blasts Deutsche Bank Executives Over Culture
Wall Street Journal 07/17/2015
German Financial Watchdog Bites BackWall Street Journal 03/28/2014
GE (General Electric) low tax rate of 4.2% in 2013, 10.3% in 2014, and the move to a normal tax rate in 2015
03/05/2014
An aggressive policy of tax reduction using GE Capital at GE leads to an astonishingly low tax rate. Shareholders see the uncertainty from GE Capital's volatile earnings and tax strategies with great skepticism. GE shares dropped to $6 during the 2008 global financial crisis because of GE Capital losses, and GE needed government rescue funds. The day CEO Immelt announced the decision to exit the banking business GE shares went up by 11%. GE's tax rate without the banking business will go up to about 20%.
Linked Articles
Price of Selling GE Capital? Tax Breaks
Wall Street Journal 04/14/2015
How corporate America is losing the debate on taxesWashington Post 03/05/2014
The events in Lviv and in the Square in Kiev Feb-20-21, 2014, that led to the collapse of the Yakunovych government in Ukraine
02/22/2014
A parallel diplomatic effort that may have been driven by the events in Lviv and in the Square and underestimated the depth of feeling in Ukraine and the organization of the protest movement.
Linked Articles
As His Fortunes Fell in Ukraine, a President Clung to Illusions
New York Times 02/23/2014
European Ministers Brokered Ukraine Political CompromiseWall Street Journal 02/22/2014
The uninsured without health coverage and the Obama health care law- why a majority of uninsured say it will increase their costs
12/18/2013
In a recent CBS/NYT poll 57% of the uninsured say it will increase their healthcare costs, only 20% of the uninsured say it will decrease their costs. A third of the uninsured say they will pay the penalty and not sign up for coverage under the law.
Linked Articles
Uninsured Skeptical of Health Care Law in Poll
New York Times 12/18/2013
Growth in U.S. Health Care Spending SlowsNew York Times 12/18/2013
How Argentina's new government of Mauricio Macri achieved the difficult negotiation and final settlement of $9.3 billion with U.S. hedge funds
03/03/2016
Linked Articles
How Argentina Settled a Billion-Dollar Debt Dispute With Hedge Funds
New York Times 04/25/2016
After 15 Years, a Bond Trade Now Pays OffWall Street Journal 03/03/2016
2016 U.S. presidential candidate Jeb Bush's Tax Plan that spells out details, and takes a shot at 4% growth for restoring lost social and economic mobility in the U.S.
09/09/2015
The efforts to wrestle with the deficit in 2011-2012 led to a vigorous debate on changing the tax code, yet political leaders failed to take up new ideas or spell out the details. Jeb Bush, with advisors Martin Feldstein and Kevin Warsh, takes the unconventional approach of putting in the details, and taking up ideas such as the idea of limiting itemized deductions to 2% of adjusted gross income proposed by Feldstein in that debate. On the $2.1 trillion in income held overseas by U.S. companies Bush proposes 8.75% tax paid over 10 years. On business investment he proposes capital investment be allowed to be deducted in full immediately. It is based on the idea that business investment can drive a vigorous recovery, that workers bear 50% of the burden of higer taxes through sluggish wage growth. It levels the playing field for debt and equity capital, removing "carried interest" provision, as a lesson from the excessive leverage taken by financial institutions in the past.
Linked Articles
Wall Street Journal 09/10/2015
Jeb Bush Tax Plan Makes Forays Into PopulismNew York Times 09/09/2015
Errors made by the IMF, Syriza Tsipras far left government, leading to the third bailout program of 2015 for Greece
07/06/2015
Just when the first signs of growth in the economy were taking place in 2014 the IMF held back on a 7.2 billion euro payment to Greece which would have increased liquidity to the private sector for growth. The IMF hope to gain leverage with a future Syriza far left government. The first half of 2015 led to economic anxiety in Greece with a failed negotiating strategy of Syriza far left government focussing only on the debt and not on the economy. The damage led to about 85 billion in addtional financing needed following the closing of Greece's banking system in July 2015.
Linked Articles
IMF Warns Eurozone That Greece Needs Far More Debt Relief
Wall Street Journal 07/15/2015
How to Undo the Damage in GreeceNew York Times 07/06/2015
Norway parliament's decision to divest holdings in companies 30% dependent on coal opens up debate on coal- (3) Coal India and the 1 billion ton target for 2020
05/14/2015
With about 300 million people without electricity, and India lagging behind Brazil and Indonesia in the percentage of population lacking electricity, the goal is to modernize the coal industry and increase production. This shows the different tradeoffs in less developed countries such as India, which face a completely different set of tradeoffs, and are moving in the opposite direction out of necessity. China is just entering a period after rapid modernization where the discussion about the tradeoffs is shifting, whereas India remains in a very different phase.
Linked Articles
Norway Will Divest From Coal in Push Against Climate Change
New York Times 06/05/2015
Indian Prime Minister Prods Coal MonopolyWall Street Journal 05/14/2015
What Greece won in the negotiations and what Greece lost in the failure of talks with the EU, capital controls, closing of banks and the referendum on July 5, 2015
02/27/2015
Major concessions were won by Greece on the most important issues of the surplus, and the size of the public sector with high unemployment. Compromise was being reached on the value added taxes and age for getting pensions, next down the list. Next on the list were pension cuts which undoubtedly would hurt pensioners but in the larger picture of the economy would come after the size of the surplus and dateline, and the size of public sector. The size of these cuts is small compared to the cost of 60 billion euros from the damage done to the economy, and the alternatives for pensioners and the rest of the country. under bank closure. For the EU this was seen as part of pension reforms and for left leaning Syriza compromising on behalf of pensioners.
Linked Articles
IMF Raises Referendum Stakes With Call for More Aid for Greece and Debt Relief
Wall Street Journal 07/03/2015
What Greece WonNew York Times 02/27/2015
The cost of the crisis to Russia exceeds $200 billion- a story of wasted opportunities to diversify away from oil and gas and integrate fully into the competitive global economy
01/29/2015
Linked Articles
Wall Street Journal 01/29/2015
Russia Lifts Crisis Cost EstimateWall Street Journal 01/29/2015
The case for a minimum wage for U.S. workers with families to support- how Australia approaches the issue taking into account the median wage
12/31/2014
Australia's minimum wage is 54% of the median wage, compared to 38% for the U.S., according to the OECD. Australia's wage setting body sets the minimum wage for workers over 20 years of age, and takes into account the median wage in the interest of fairness. Workers with families to support need the Australian minimum wage of 16.87 Australian dollars ($13 U.S.). All of this money goes into consumer spending providing an immediate boost to the economy.
Linked Articles
Australia Weighs Whether Its Minimum Wage Is Too High
Wall Street Journal 01/26/2015
States’ Minimum Wages Rise, Helping Millions of WorkersNew York Times 12/31/2014
Abenomics advisers Yamamoto and Hamada, and Japanese prime minister Abe's decision in Nov. 2014 to challenge the Finance Ministry's views
11/20/2014
Abe calls for a snap election in Dec. 2014 after delaying the second increase in the consumption tax from 8% to 10% in 2015. About 53% of the Japanese public opposed the doubling of the consumption tax by 2015 in 2011 poll as the DPJ party Noda administration pushed for it on the advice of the Finance Ministry. Now after the 3rd quarter showed Japan in a recession over 70% of the Japanese public oppose a second increase in the consumption tax to 10% from 8% in 2015. Abenomics advisors Hamada and Yamamoto now say this increase in the tax (especially when wages are only gradually increasing) was never a part of the Abenomics.
Linked Articles
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to EvaporateNew York Times 11/20/2014
More women without jobs in 2014 compared to 2010, and the 20% of U.S. households in 2014 either underwater or with less than 20% equity in their homes
05/19/2014
Most parts of the Democratic base badly damaged in the Obama administration's policy decisions in the housing and mortgage crisis of 2008-2009. A delayed economic recovery with weakness in consumer spending as one of the predictable outcomes of the policy decisions taken for homeowners.
Linked Articles
Economic Recovery Yields Few Benefits for the Voters Democrats Rely On
New York Times 05/19/2014
Mortgage, Home-Equity Woes LingerWall Street Journal 05/20/2014
Christine Lagarde and John Lipsky on the need to move forward with the IMF reforms giving greater representation to emerging market countries in G-20
03/25/2014
Lagarde and Lipsky point out that this does not change the U.S. voting rights of 16%. They emphasize the stabilizing role the IMF has played for the global economy in crises and the more open thinking at the IMF on economic programs.
Linked Articles
The U.S. Should Ratify Its Agreement to IMF Reform
Wall Street Journal 04/02/2014
Congress Can Help the U.S. By Reforming The IMFWall Street Journal 03/25/2014
Britain's RBS bank and the issue of high bank bonuses after a $15 billion loss in 2013
02/27/2014
Linked Articles
Royal Bank of Scotland to Slash Costs as Losses Deepen
Wall Street Journal 02/28/2014
Bailed-Out Royal Bank of Scotland Sees Years of LossesNew York Times 02/27/2014
Pressure on U.S. for bond buying cutbacks from India and Brazil at G-20 in Sydney, Australia, and U.S. finance officials Sheets and Sobel
02/14/2014
Sheets at Treasury and Sobel at IMF are U.S. finance officials faced with the task of addressing concerns of India and Brazil on cutbacks in bond buying, lack of progress on IMF changes.
Linked Articles
U.S. to Face G-20 Pressure Over Bond-Buying Cutbacks
Wall Street Journal 02/21/2014
Obama Moves to Fill International Economics PostsWall Street Journal 02/14/2014
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