Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 20. November 2010

O Deflation, Where is Thy Sting?

Posted by hkarner - 20. November 2010

 
November 19, 2010
By John Mauldin
The Sputtering Economy
Old and Outmoded
We Have Deflation Exactly Where?
O Deflation, Where is Thy Sting?
 
The CPI was out this week, and it showed a continued drop in inflation. There were those who immediately pointed out that this vindicated the Fed’s move to QE2. We have to get ahead of this deflation thing, don’t we? Well, maybe, depending on how you measure inflation/deflation. This week we look deep into the BLS website on inflation to see just exactly what it is we are measuring, and then take a walk down Nostalgia Lane. But first we look at what I think we can call The Sputtering Economy, because that will tie into our inflation discussion. Den Rest des Beitrags lesen »

Posted in Artikel | Getaggt mit: , , , , , , | Leave a Comment »

In China’s Orbit

Posted by hkarner - 20. November 2010

  Date: 20-11-2010
 Source: The Wall Street Journal By NIALL FERGUSON 

After 500 years of Western predominance, Niall Ferguson argues, the world is tilting back to the East.

“We are the masters now.” I wonder if President Barack Obama saw those words in the thought bubble over the head of his Chinese counterpart, Hu Jintao, at the G20 summit in Seoul last week. If the president was hoping for change he could believe in—in China’s currency policy, that is—all he got was small change. Maybe Treasury Secretary Timothy Geithner also heard “We are the masters now” as the Chinese shot down his proposal for capping imbalances in global current accounts. Federal Reserve Chairman Ben Bernanke got the same treatment when he announced a new round of “quantitative easing” to try to jump start the U.S. economy, a move described by one leading Chinese commentator as “uncontrolled” and “irresponsible.” 

“We are the masters now.”

That was certainly the refrain that I kept hearing in my head when I was in China two weeks ago. It wasn’t so much the glitzy, Olympic-quality party I attended in the Tai Miao Temple, next to the Forbidden City, that made this impression. The displays of bell ringing, martial arts and all-girl drumming are the kind of thing that Western visitors expect. It was the understated but unmistakable self-confidence of the economists I met that told me something had changed in relations between China and the West.

One of them, Cheng Siwei, explained over dinner China’s plan to become a leader in green energy technology. Between swigs of rice wine, Xia Bin, an adviser to the People’s Bank of China, outlined the need for a thorough privatization program, “including even the Great Hall of the People.” And in faultless English, David Li of Tsinghua University confessed his dissatisfaction with the quality of Chinese Ph.D.s.

You could not ask for smarter people with whom to discuss the two most interesting questions in economic history today: Why did the West come to dominate not only China but the rest of the world in the five centuries after the Forbidden City was built? And is that period of Western dominance now finally coming to an end? Den Rest des Beitrags lesen »

Posted in Artikel | Getaggt mit: , , , , | Leave a Comment »

 
Folgen

Erhalte jeden neuen Beitrag in deinen Posteingang.

Schließe dich 368 Followern an