Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 1. Oktober 2019

How to Ward Off the Next Recession

Posted by hkarner - 1. Oktober 2019

Jean Pisani-Ferry, a senior fellow at Bruegel, a Brussels-based think tank, holds the Tommaso Padoa-Schioppa chair at the European University Institute, and is a visiting fellow at the Peterson Institute in Washington, DC.

A decade after the Great Recession, Europe’s economy is still convalescing, and another period of prolonged hardship would cause serious, potentially dangerous economic and political damage. With monetary and fiscal policy unlikely to provide enough stimulus, policymakers should explore alternative options.

WASHINGTON, DC – Despite confident official pronouncements, the deteriorating state of the global economy is high on the international policy agenda. The OECD recently revised down its forecast to 1.5% growth in the advanced G20 economies in 2020, compared to almost 2.5% in 2017. And its chief economist, Laurence Boone, warned of the risk of further deterioration – a coded way of indicating a growing threat of recession. 

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Europe isn’t the enemy – demonising us is undermining Britain

Posted by hkarner - 1. Oktober 2019

Date: 30-09-2019
Source: The Guardian by Joris Luyendijk

The Tories used to worry about being the nasty party.
Now they’re making Britain a difficult country to like

A deeply nasty man …’ Boris Johnson

Seventeen years ago Theresa May stunned her fellow Conservatives by telling their annual party conference that they were “just plain unattractive”. The Tories, she said, had become “the nasty party”. Today, from where I sit in western Europe, Britain itself looks just plain unattractive. It seems to have become “the nasty country”. I’m not saying the British people are any worse, or any better, than any other Europeans. I am saying its ruling political party is nasty, as is much of its press. The leader of the Conservative party, and therefore the prime minister, is a man who has personally taken nastiness to an entirely new level, yet is the country’s most popular politician.

Ever since the UK voted to leave the EU, millions of other Europeans like me have been looking for signs that the country is coming around to its old, pragmatic self. It’s a version of Boris Johnson’s cakeism: you want to love Britain and you want to be honest about the kind of country it is now. These two positions have become impossible to hold at the same time.

For years now a decisive segment of the British establishment and electorate has been poisoning itself with lies

The UK now seems to be the country whose government lies about nonexistent negotiations with the EU while threatening to renege on its outstanding financial obligations – often misrepresented as the “divorce bill”. It’s the country whose leader of the House of Commons, Jacob Rees-Mogg, threatened to sabotage the EU from within if Brexit was postponed. It’s the country, too, whose last prime minister (the aforementioned May) threatened to stop cooperating with the EU on terrorism, inspiring the Sun front-page headline: “Your money or your lives”. The country whose former Conservative leader Michael Howard talked up war with Spain over Gibraltar. Whose cabinet minister Priti Patel suggested threatening the people of Ireland with starvation. Whose foreign secretary Jeremy Hunt likened the EU to the Soviet Union and whose current prime minister compared it to the Nazis. Den Rest des Beitrags lesen »

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The Worst China Trade Idea

Posted by hkarner - 1. Oktober 2019

Date: 30-09-2019
Source: The Wall Street Journal By The Editorial Board

Banning investment would hurt the U.S. and reformers in Beijing.

A monitor displays Alibaba Group Holding Ltd. signage on the floor of the New York Stock Exchange (NYSE) in New York in May.

The Trump Administration is looking for ways to pressure China to change its trade practices, but how about not hurting the U.S. along the way? The latest shoot-self-in-foot moment came Friday when word leaked that the White House may restrict bilateral U.S.-China investment. Bloomberg News reported that the Administration may also block Chinese companies like Alibaba from listing on U.S. stock exchanges.

The delisting of Chinese companies is especially foolish. American financial exchanges are sources of U.S. economic strength, but they compete in a global market. Foreign firms can choose to list in London or Hong Kong or Frankfurt as easily as on the Nasdaq or the New York Stock Exchange. Banning Chinese companies from U.S. exchanges would merely hurt those American businesses and U.S. capital markets. The damage to the Chinese firms would be minor because investors would still be able to raise capital elsewhere. Den Rest des Beitrags lesen »

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