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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
European Commission president Jean Claude-Juncker's credibility gap and the lack of scrutiny and elected support for the EU's top official
06/26/2014
Linked Articles
Juncker scandal prompts sniping at European Commission election system - The Washington Post
Washington Post 11/14/2014
Jean-Claude Juncker, Quietly in Eye of E.U. StormNew York Times 06/26/2014
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
France's Francois Hollande and Matteo Renzi of Italy call for lower taxes and relaxing austerity drive in 2014-2015
02/26/2014
Linked Articles
New French Premier Revisits Deficit
Wall Street Journal 04/03/2014
Renzi's Italian JobWall Street Journal 02/26/2014
The U.S., European and Emerging Markets stock markets in October 2013
11/17/2013
Linked Articles
Wall Street Journal 11/17/2013
Is This a Bubble?Wall Street Journal 11/17/2013
Stanford Hoover Institution's Fouad Ajami on the Middle East policies of U.S. president Obama that led to sectarian conflict and increase in terrorism
10/24/2013
Without a residual U.S. presence in the Middle East acting as a restraining influence on Shiite militias, Sunni groups, other foreign powers, leading to an exacerbation of sectarian conflict by the Malliki government, created the conditions for the rise of terrorism. Only in 2015-2016 were the effects of this seen with the breakup of Syria and Iraq, and the millions of refugees making their way to Turkey, Jordan, and Europe, followed by the increase in terrorism in Europe and the U.S.
Linked Articles
Notable & Quotable: Fouad Ajami on the Sunni-Shiite Fight
Wall Street Journal 01/05/2016
Fouad Ajami: A Lawyer Lost in a Region of ThugsWall Street Journal 10/24/2013
Shell, Chevron and Exxon withdrawing from shale oil exploration in Europe and China in 2015
08/01/2013
Linked Articles
Non-U.S. Shales Prove Difficult to Crack
Wall Street Journal 03/19/2015
Shell's Profit Falls on Shale Write-DownWall Street Journal 08/01/2013
Getting economic policy right- A second look at Japan, the European Union and the U.S. in 2014-2015
06/09/2013
In taking a second look, economists Stiglitz and Krugman ask if much derided Japan has avoided the worst effects of unemployment that have affected Spain, Italy, Greece, and France in the eurozone, and for the the long term unemployed in the U.S. And in doing so also avoided the widening income and wealth gaps opened up in the other industrialized countries.
Linked Articles
New York Times 10/30/2014
Japan Is a Model Not a Cautionary TaleNew York Times 06/09/2013
U.S. tax reform, issues of equity and fairness and the mortgage deduction
11/29/2012
Linked Articles
Most Americans Face Lower Tax Burden Than in the 80s
New York Times 11/29/2012
Mortgage-interest deduction could be on the table in ‘fiscal cliff’ debate - The Washington PostWashington Post 11/29/2012
Krugman and Altman- Differing views on taxes, deficits and inequality
11/18/2012
Linked Articles
To Reduce Inequality, Tax Wealth, Not Income
New York Times 11/18/2012
The Twinkie ManifestoNew York Times 11/18/2012
The CEO statement of Oct 2012 calling for action to tackle deficit reduction with tax increases as part of broader reforms
10/26/2012
The CEO statement of Oct 2012 as a pro-growth initiative and not simply a tax increase that does little for setting up a strong economic recovery in the U.S.
Linked Articles
Wall Street Journal 10/26/2012
Pete Domenici and Sam Nunn: Building a better ‘fiscal cliff’ - The Washington PostWashington Post 10/27/2012
Mitt Romney's turnaround takes him from the cautious Romney back to the spontaniety and boldness of "Dad"
10/10/2012
Mitt Romney and dad George Romney, three term governor of the U.S. state of Michigan. George Romney was known for his boldness in going over the fence to talk directly with UAW union workers.
Linked Articles
Wall Street Journal 11/01/2012
Lessons From a Father's CampaignWall Street Journal 10/10/2012
Harvard economist and advisor Feldstein shows how Romney's Tax Plan would raise revenue
08/28/2012
Linked Articles
New York Times 09/24/2012
Martin Feldstein: Romney's Tax Plan Can Raise RevenueWall Street Journal 08/28/2012
Warnings at a banking conference in Moscow in October 2014, and the ruble on the brink of collapse on Dec. 17, 2014
10/02/2014
The central bank head, Nabiullina, the Economy minister, Ulyukayev, and the head of Russia's largest bank Sberbank, German Gref, all expressed skepticism about president Putin's confidence in economic policy at a banking conference in Moscow in Oct. 2014. The architect of Russia's finances in the first and second terms of Putin, Alexei Kudrin, expressed alarm in Nov.-Dec. 2014 about lack of confidence in economic measures as the ruble took a hit from lower oil prices. The Putin administration made errors in handling economic policy leading to the ruble going to the brink of collapse by Dec. 17, 2014. This was preceded by miscalculations in policy towards the European Union and Germany leading to a loss of international confidence, and deteriorating relations with OPEC's leading member Saudi Arabia leading to OPEC's production decisions hurting Russia.
Linked Articles
Russia Introduces Measures to Calm Economic Jitters
New York Times 12/17/2014
Putin Trumpets Economic Strength, but Advisers Seem Less CertainNew York Times 10/02/2014
Russia's effort to fight western sanctions in 2015, Euroskeptic parties and the European Union
04/25/2014
Linked Articles
Russia Wields Aid and Ideology Against West to Fight Sanctions
New York Times 06/07/2015
What Putin Is Costing RussiaWall Street Journal 04/25/2014
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
Hope and reality in India and Nigeria- The Singh administration in India 2010-2014, and the Jonathan administration in Nigeria 2011-2015
02/21/2014
Are too many young people in the most populous countries of Africa and Asia seeing their hopes dashed and their dreams vanish with the mismanagement of the resources of the country and of the economy? Is the demographic dividend in these countries about to be wasted? Is the goodwill of foreign investors in Europe and the U.S. eager to bring the latest technologies to these countries, as they did in China, about to be wasted by sheer mismanagement and misallocation of resources? These questions are on the minds of young people in Nigeria and India as they rest their hopes on the Buhari and Modi administrations.
Linked Articles
Nigerian Central Bank Governor Ousted
Wall Street Journal 02/21/2014
India Allocated Coal Fields to Private Companies Illegally, Top Court RulesNew York Times 08/25/2014
Greece and EU in 2015- (3) How do people in Europe see the European Project? How do Greeks see the European Project?
11/04/2013
Linked Articles
Support for the European Union Is Rising, Survey Suggests
New York Times 06/02/2015
Athens's Love Affair With the Euro PersistsWall Street Journal 11/04/2013
The single supervisory authority for European Union banks at the European Central Bank
10/20/2013
The task ahead of the supervisory authority for EU banks at the ECB- ensuring confidence in the banking system of the EU as a first a first step towards economic recovery and growth.
Linked Articles
ECB to Start Review of Bank Balance Sheets
Wall Street Journal 10/23/2013
The Man Whoâll Do Triage on Europeâs BanksNew York Times 10/20/2013
Airbus shift away from Europe and German government financing after increasing publicly traded shares to 72%
06/16/2013
Linked Articles
Airbus Vows to Fly With Own Wings
Wall Street Journal 02/27/2014
Airbus on Track to Double Profit Margin by 2015Wall Street Journal 06/16/2013
Pakistan Railways and Iraqi Railways- a picture of the Middle East and South Asia in 2014
05/18/2013
Declan Walsh and Tim rango provide aunique insight into the lives of common people in two regions of Asia and the Middle East. A century after the European powers invested in railway lines connecting all parts of the Middle East from Turkey to Iraq and Syria, and connecting all parts of South Asia from the Afghan border to Ceylon, two reporters of the NYT visit the railways in both regions showing the prevailing state of affairs. In Iraq decades of wars and conflict have reduced the railways to a crumbling condition. In South Asia mismanagement, cronyism, corruption has led to disinvestment in Pakistan Railways and inflicted similiar damage to the rail network. Through rail one can see into the life of common people in these regions. What one sees shows that five decades after the colonial powers left this region, the educated elites, the political parties, the military, the religious leaders, have all failed the common people of their homeland.
Linked Articles
A Train Ride Through Time: From Iraq’s Checkered Past Into an Uncertain Future
New York Times 10/18/2014
In a Journey on a Crumbling Railway, a Picture of a Nationâs TroublesNew York Times 05/18/2013
The Reagan tax reforms of 1986 and U.S. tax reforms in 2013
11/22/2012
Contrasting views on how the Reagan tax reforms of 1986 and the approach used can help come up with a good plan in 2013.
Linked Articles
New York Times 11/29/2012
A Starting Point for Tax Reform: What Reagan DidNew York Times 11/22/2012
Obama advisor, Christina Romer, and support for Simpson-Bowles recommendations on limiting deductions
11/10/2012
The Feldstein, Romney proposals based on the ideas of the Simpson Bowles Commission of limiting tax deductions finds convergence with Obama economic advisor, Christina Romer's support for Simpson Bowles recommendations after the 2012 presidential elections.
Linked Articles
Democrats Like a Romney Idea to Cap Tax Deductions
New York Times 11/12/2012
Budget Showdown Offers an Opportunity for ProgressNew York Times 11/10/2012
German chancellor Merkel and the EU plan for aid to Spain's banks in Oct. 2012
10/18/2012
Merkel turns down an effort pushed by France and Spain at the Oct. 2012 EU leaders meeting for direct aid to Spanish banks. Instead money has to go from the European Stability Mechanism fund to Spain after a request by Spain for aid. The aid request by Spain would be met under program of conditionality set by the IMF, EU and ECB. Spain is delaying a request for aid as borrowing rates on Spanish bonds declined to about 5% by late October 2012. The Rajoy government in Spain faces regional spending problems and separatis sentiment in addition to high unemployment and a worsening situation with its banks. Merkel faces elections for chancellor in Germany in Sept. 2013 and says more time is needed to setup the eurozone banking supervisory authority- to be set up in the course of 2013 with the legal setup completed by Jan 2013 as a concession to France. This would push banking supervision and financial architecture till after the election.
Linked Articles
German Refusal on Bank Aid Mars European Summit
New York Times 10/19/2012
Europe Seeks a Spain StrategyWall Street Journal 10/18/2012
President Hollande's declining popularity in France after only 6 months in office
09/28/2012
A $26 billion tax rebate for business and a budget that pushes quickly for reducing the deficit to 3% of GDP in 2013 lead to growing unpopularity across the spectrum of opinion from the left, centre and right for France's new president Hollande.
Linked Articles
France’s Hollande struggles to regain popularity - The Washington Post
Washington Post 11/15/2012
France's New Budget Focuses on Cutting DeficitNew York Times 09/28/2012
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