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How keeping seniors as a protected class in current Social Security proposals impacts the young and leads to shrinking investments in defense, social programs, research, education and infrastructure
08/16/2012
This includes the Republican Paul Ryan proposal which also stays away from touching Social Security for today's seniors and passes on the costs to the young. Democrats are using demagoguery and intimidation on this issue. Samuelson cites CBO estimates which show that even with shrinking defense and nondiscretionary spending by a third the U.S. deficit would still be 6.75% of GDP in 2023.
Linked Articles
Robert Samuelson: Ryan’s budget asks nothing of the elderly -; unfortunately - The Washington Post
Washington Post 08/16/2012
Mr. Biden falls flat - The Washington PostWashington Post 08/16/2012
Friedman, Avraham Burg and Morsi- on the way forward for moving beyond the intractable to the possible in the Middle East
08/04/2012
The democracy movement in the Middle East and the yearning for economc and political participation of the people of the Middle East creates new opportunities to move forward beyond the conflicts of the past to a better future for the people of the Middle East. The role of leaders in the U.S., Europe, and the Middle Eastern countries of Egypt, Turkey and the newly democratic states in this region in setting new goals and plans and rising up to the challenges.
Linked Articles
New York Times 11/24/2012
Israel's Fading DemocracyNew York Times 08/04/2012
Spain gets an extra year till 2014 to bring budget deficits down to below 3%
07/10/2012
A decline in GDP is leading to lower tax revenues leading to a relaxation of deficit targets. Spain faces an unemployment rate of 27% in 2012
Linked Articles
Euro Zone Eases Budget Demand on Spain
Wall Street Journal 07/10/2012
Spain Braces for Renewed Austerity as Tax Take HemorrhagesUnknown 07/10/2012
Mario Monti of Italy and the plans for a sounder monetary union in Europe
06/22/2012
The discussions in Rome between Mario Monti of Italy and the leaders of Germany, France, Spain, at the end of June 2012. Monti as respected mediator between the different sides and positions and the importance of productive discussions to the future of the Euro and the economies of Europe.
Linked Articles
Why Monti, despite Merkel, could prove the euro’s best hope - The Washington Post
Washington Post 06/24/2012
Amid crisis, leaders of Germany, France, Italy and Spain meet in Rome - The Washington PostWashington Post 06/22/2012
Accelerated development of nuclear energy in India and China in 2013-2020
06/06/2012
Over tenfold increase in nuclear energy capacity planned in India and fivefold in China by 2020. Safety practices being put in place after the Fukushima nuclear disaster, energy shortages in India, and excessive coal generated pollution in China, give a new perception of the importance of nuclear energy in the energy mix for the two countries.
Linked Articles
India Starts Nuclear Reactor After Lengthy Delays
Wall Street Journal 10/23/2013
China Nuclear Firm Plans Up to $27 Billion IPOWall Street Journal 06/06/2012
The glut in the steel industry and China's new Stimulus plans in 2012-2013
05/26/2012
The additional investments in steel production from the Stimulus in 2012- with the accelerated approval of 254 investment projects- will only worsen the glut in steel supplies.
Linked Articles
China’s stimulus policy means trouble down the road - The Washington Post
Washington Post 05/31/2012
Steeling for a Chinese SlowdownWall Street Journal 05/26/2012
Obama and election advisor Plouffe- responsible governance, Simpson-Bowles and an election imprint on "everything"
05/26/2012
A White House aide says election advisor David Plouffe's influence affected "everything" in the Obama White House. Tom Friedman points to the influence of campaign consultants on the White House as overreaching and pervasive, going so far a to describe the campaign being developed in test tube fashion. Karl Rove pointed to president Obama keeping an eye on reelection 18 months before Nov. 6, 2012, as not a positive development. Friedman specifically mentions president Obama's failure to endorse the Simpson-Bowles commssion on deficit reductions as part of the imprint of election advisors because reducing tax expenditures or deductions might prove politically unpopular. Yet this was part of responsible governance to take on unpopular positions- something other presidents, including Democratic president Truman, did not fail to do choosing instead to educate pubic opiion on difficult steps needing to be taken. Truman took the decisions head on such as confronting the soviets in Greece and other parts of Europe and in Korea after the fall of the Iron Curtain, so soon after a major war when the public was weary of conflict.
Linked Articles
Obama Adviser's Strategy Is High Risk, High Reward
Wall Street Journal 10/31/2012
President Obama Should Seize the High GroundNew York Times 05/26/2012
Meg Whitman's plan to turnaround HP
05/17/2012
Linked Articles
Defending H-P in Age of Tablets
Wall Street Journal 06/06/2012
Hewlett-Packard to Cut About 30,000 JobsNew York Times 05/17/2012
The remarkable achievement of Governor Jerry Brown of California- a budget surplus of $851 million for fiscal 2013
05/14/2012
The impossible becomes possible in California as political hurdles are overcome and the state's economy improves. The budget preserves spending priorities for education and healthcare by cutting back in other areas, another remarkable feat- a lasting legacy for Brown's second act as governor. His father was governor in the Kennedy years, he was governor in the 1980's.
Linked Articles
State’s Rare Sight: A Budget Surplus
Wall Street Journal 01/10/2013
Brown Proposes $8.3 Billion in Cuts for CaliforniaNew York Times 05/14/2012
De Anza College in Cupertino, California where a Apple co-founder got his start and the implications of tax avoidance strategies
04/28/2012
A U.S. Senate Report in May 2013 points to tax avoidance strategies by Apple, and Apple CEO Tim Cook appears before a Senate hearing. EU leaders meet in Brussels to address the problems of tax avoidance by digital companies which aggravate the budget deficits of EU countries, especially at a time of cutbacks in infrastructure spending and education that supports the digital companies access to to human resources. De Anza College in Cupertino is where on of the Apple cofounders went to school. The head of the college describes the effects of cutbacks in funding on the college. On the other side of the Atlantic Fredrik Reinfeldt, Sweden's prime minister makes a similiar case saying the digital companies need access to infrastructure and educational centres which makes the payment of taxes used to fund this necessary for the whole system not to fall into dysfunction.
Linked Articles
Apple's Tax Strategy Aims at Low-Tax States and Nations
New York Times 04/28/2012
Europe Tackles Tax EvasionWall Street Journal 05/22/2013
Spain's effort to fix regional finances, austerity measures and risks of high unemployment
04/27/2012
Efforts to fix regional finances with spending cuts have pushed unemployment to about 27% in one of Spain's largest regions, Castilla-La Mancha. As banks consolidate and reduce lending this depresses small and medium sized businesses, the public sector layoff increase unemployment, part time unemployment and the growing underground economy depress tax revenues, creating risks of a downward spiral.
Linked Articles
A Spanish Leader Emerges as a Crusader for Austerity
Wall Street Journal 06/25/2012
Spain, Pursuing Austerity, Still Waits for the PayoffNew York Times 04/27/2012
Diversification plans of Japanese electronics companies, Sony, Panasonic and Sharp
04/13/2012
Linked Articles
Can Japan's Hobbled Giants Adapt?
Wall Street Journal 08/17/2012
Sony's New CEO Vows to 'Revive' CompanyWall Street Journal 04/13/2012
Ford's plans to invest $1.3 billion to scale up its manufacturing operations in China
04/06/2012
Expansion of manufacturing facilities in Chongqing with a$600 million investment and a $760 million investment for a new plant in Hangzhou are part of Ford's effort to catch up with other manufacturers in China. Ford's forecast is for a 5% increase in the market each year for the next decade. The risk is that Ford will be scaling up just as the market is slowing after five years of hyper growth, with increased competition in the Chinese market hurting profit margins, and the distance of the Chongqing plant from the west coast of China making it harder to export to other emerging markets.
Linked Articles
Ford to Build New Plant in China to Catch Up With G.M.
New York Times 04/19/2012
Ford Plans to Boost Production in ChinaWall Street Journal 04/06/2012
Romney, Camp, Ryan and the outlines of an approach to the U.S. deficit and the U.S. tax code
08/12/2012
Linked Articles
George Will: Romney’s presidential pick - The Washington Post
Washington Post 08/13/2012
Dave Camp: Is Tax Reform Politically Possible?Wall Street Journal 08/12/2012
Spain macroprudential supervision of its banking system once lauded now turns out to be "timid" and false, could the same be true for China?
07/18/2012
Spain's central bank had a reputation of providing good supervision for Spain's banking system. The problems at the Cajas Savings banks and the current assessment after the request for $125 billion in EU funds for Spain's banks shows how this turned out to be false. Does China face a similiar problem with its housing bubble. The U.S., UK and Spain, failed to control and manage the effects of a housing bubble, can China be a lone exception? Rapid growth enabled China to cope with bad loans in the banking system, with slower growth, a weak European market for exports, and a stimulus that is about one eighth the size in annual investment- one trillion yuan over 4 years in the current stimulus compared to 4 trillion over 2009-2010 in the last stimulus plan. Can China manage this bubble, does it have the experience managing this type of problem or has it papered over the problems as Spain did? This has repercussions for industries and countries from the export sector in Germany, Australia and Brazil to industries such as the German automobile industry, and companies such as Caterpillar.
Linked Articles
As China’s economy slows, real estate bubble looms - The Washington Post
Washington Post 10/03/2012
Spanish Official: Slow Reaction to CrisisWall Street Journal 07/18/2012
Torrelodones, Castilla La Mancha and the effort to clean up accounts in local government in Spain
06/25/2012
Wasteful spending, cronyism, corruption and lack of transparency in local government marked the years of the construction and real estate boom in Spain. Now grassroots efforts are taking place across Spain to clean up accounts, ensure transparency, and divert wasted resources to meet vital needs. Similiar efforts are taking place from Thessaloniki, Greece, to Sicily, Italy, as Europ faced with high unemployment and austerity cuts comes up with its own efforts for renewal from the bottom up setting the political elites aside.
Linked Articles
Europe's Recession Sparks Grass-Roots Political Push
Wall Street Journal 05/21/2013
A Spanish Leader Emerges as a Crusader for AusterityWall Street Journal 06/25/2012
What a Romney economic plan could achieve in 2013-2016
06/06/2012
Linked Articles
The Keynesian case for Romney - The Washington Post
Washington Post 06/07/2012
Gramm and Hubbard: What a Romney Recovery Might Look LikeWall Street Journal 06/06/2012
Germany's distorted national priorities- underinvestment in childcare centers and in wages for childcare and early education teachers
06/06/2012
Melissa Eddy of the NYT provides these two exceptional accounts of Germany's national priorities gone awry as the economic revival takes place in manufacturing, but leaves behind important areas such as early childhood education and child care centers. A lack of investment in the people who form the backbone of the educational system, is one of the forms of the distorted priorities. It may be recorded as the singular lapse of the Merkel administration in the last decade.
Linked Articles
German Child Care Workers’ Strike Brings Debate on Priorities
New York Times 06/05/2015
Germany Considers Subsidies for Non-State Child CareNew York Times 06/06/2012
The Reagan memo with advice by George Shultz and other advisors and the Romney plan for economic recovery in 2012
05/26/2012
Similiarities in the approach of relying on the private sector for investment and job creation, with the Presidents job being to set the tone and put the right policies in place for the long term.
Linked Articles
Gramm and Hubbard: What a Romney Recovery Might Look Like
Wall Street Journal 06/06/2012
The Reagan MemoWall Street Journal 05/26/2012
Enrique Pena Nieto's vision for the future of Mexico
05/20/2012
Nieto describes his vision and outlines his plan for Mexico in an op-ed in the NYT and in an interview with Lally Weymouth of the Washington Post. He says this is a new generation and this is not the PRI party of the past.
Linked Articles
New York Times 07/02/2012
Interview with Mexican presidential candidate Enrique Peña Nieto - The Washington PostWashington Post 05/20/2012
The $436 million payment by Greece to holdout bondholder Dart Management and the $1.5 billion demanded by holdout bondholder Elliott Management leading to Argentine default in 2014
05/15/2012
Greece made the payment to Dart Management at a time of 20% unemployment and daily protests on Athens streets, a month before elections in June 2012. Greece only did this as a last resort for release of EU funds that were being held up to make pament of interest on debt. This exacerabated discontent inside Greece as pensions were being cut and layoffs taking place, including increase in electricity bills. The Syriza party made gains in that election and the two main parties lost ground to other parties, including a violent anti-immigrant party. Argentina's Christina Kirchner faces a difficult time with the unions and centrist parties in Buenos Aires province, with a shortage of cash and sovereign wealth fund down to $29 billion in May 2014. Stevenson points out the payment to Elliott Management could lead to a situation where Argentina owed $15-$27 billion to all holdout and exchange investors in its bonds.
Linked Articles
Argentina Finds Relentless Foe in Paul Singer's Hedge Fund
New York Times 07/30/2014
Bet on Greek Bonds Paid Off for a Vulture FundNew York Times 05/15/2012
Spain's Telefonica's plans to cope with the banking and economic crisis in Spain
05/12/2012
Linked Articles
Telefónica's Pain Now Spreads Beyond Spain
Wall Street Journal 06/01/2012
Telefónica Profit FallsWall Street Journal 05/12/2012
The rapidly deteriorating unemployment situation in Spain with over 5 million unemployed in April 2012
04/27/2012
A sense that austerity policies are not working because of the speed with which unemployment is rising. Improving competitiveness and structural changes needed but work gradually over time, and this is stacked up against an unemployment situation that is accelerating downward with over 5 million unemployed in April 2012.
Linked Articles
Austerity Adds to Spain's Jobless Woes
Wall Street Journal 04/29/2012
Spain, Pursuing Austerity, Still Waits for the PayoffNew York Times 04/27/2012
The sharp rebound at Toyota with planned sales of 9.76 million for fiscal 2012
04/22/2012
Japanese carmakers have rapidly recovered from the earhtquake and tsunami in Japan and floods in Thailand that disrupted supply chains. Toyota has also recovered from the damage to its image after recalls in the U.S. market with U.S. market share at over 15% by the second quarter of 2012.
Linked Articles
Wall Street Journal 08/04/2012
Japan Auto Makers on a RollWall Street Journal 04/22/2012
India's surging crude oil imports with a depreciating rupee reducing the impact of cuts in fuel subsidies- 2011-2015
04/11/2012
Cuts in fuel subsidies to reduce the current account deficit has less impact with a depreciating rupee. The emerging markets crisis in 2014 focusses attention on the current account deficits of emerging market countries. A decline in foreign investment adds to India's difficulties.
Linked Articles
India Grapples With Soaring Energy Costs
Wall Street Journal 04/11/2012
Rupee Throws Oil on India's Subsidy ProblemWall Street Journal 08/21/2013
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