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Archive for 20. Oktober 2019

Eine Scorecard zur Beendigung des kurzfristigen Denkens

Posted by hkarner - 20. Oktober 2019

Klaus Schwab

Klaus Schwab is Founder and Executive Chairman of the World Economic Forum.

GENF – Die Angst vor einer weltweiten Rezession, der Handelskrieg zwischen den USA und China, die Auswirkungen des Brexit und ein gefährlicher Schuldenüberhang sorgen für eine der stressreichsten Phasen seit einem Jahrzehnt. Gleichzeitig stehen langfristige Ziele, wie die Umsetzung der Nachhaltigkeitszielen bis 2020, die Umsetzung des Pariser Klimaabkommens bis 2050 und der Umbau des Wirtschaftssystems für die nächsten 50 Jahre, an. 

Um ein langristiges Denken anzuregen, braucht es eine Neuorientierung. Dazu drei Vorschläge:Zunächst müssen wir den wirtschaftlichen Bezugsrahmen ändern. 75 Jahre lang stand das Bruttoinlandsprodukts (BIP) im Zentrum und die Volkswirtschaften dienten als Werkzeug zur Mobilisierung der Produktion für den Krieg. Gegenwärtig aber ist die Maximierung von nachhatligem Wohlstand das Ziel und es braucht alternative Messgrössen.Eine Gruppe von Ökonomen aus der Privatwirtschaft, Hochschulen und internationalen Einrichtungen, (u.a. Diane Coyle und Mariana Mazzucato) haben das „Wealth Project“ (Wohlstandsprojekt), aufbauend auf Weltbank-Ansätzen, entwickelt. Den Rest des Beitrags lesen »

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How to await the apocalypse in style

Posted by hkarner - 20. Oktober 2019

Date: 18-10-2019
Source: The Economist

The business of preparing for disaster is still going strong

Ron hubbard sells high-end fallout shelters, and business is booming. Just $144,999 (fiat currency, not gold), buys a 500-square-foot, sandblasted, tar-coated, modular fallout shelter with a bulletproof hatch, decontamination shower, gas-tight interior doors, L-shaped entry “to attenuate gamma radiation”, kitchen, bathroom, sleeping space for a family and, of course, the chance to upgrade it as far as the buyer’s wallet will allow. Shouting down the phone in his Texas twang, Mr Hubbard says that “people are buying [my shelters] because they think the shit’s going to hit the fan in this country! Eventually a hard-core socialist liberal’s going to take control, and they’re not going to let that happen. People are preparing for civil war.”

Preparing for disaster—“prepping”, as practitioners tend to call it—is nothing new. At the height of the cold war, people built fallout shelters in their yards, and governments installed them under public buildings. Moscow’s immense subway stations double as fallout shelters; Switzerland’s network of shelters can house the country’s entire population. Den Rest des Beitrags lesen »

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Why Markets Are Rising Despite a Trade War, Brexit and Impeachment Threats

Posted by hkarner - 20. Oktober 2019

Date: 19-10-2019
Source: The Wall Street Journal

Many investors are watching the Fed while not trading geopolitical events

Some investors say they aren’t trading geopolitical events such as Brexit and the impeachment inquiry in the U.S.

The world seems more tumultuous than it has in years. Congress is weighing impeachment, the U.K. is on the verge of a momentous vote regarding its role in Europe, and the U.S. and China are still mired in a trade war.

Yet the S&P 500 is within about 2% of its all-time high. What’s going on with Wall Street?

For many money managers, the answer has a lot to do with the Federal Reserve. The central bank has already lowered interest rates twice this year and is widely expected to do so at least once more in 2019 to help support a slowing economy. Den Rest des Beitrags lesen »

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The Chip Industry Gets a Strong 5G Signal

Posted by hkarner - 20. Oktober 2019

Date: 19-10-2019
Source: The Wall Street Journal

Industry bellwether TSMC thinks consumer adoption of 5G smartphones warrants a dramatic expansion of its investment plans

Taiwan Semiconductor Manufacturing Co. is widely regarded as a good gauge of chip demand.

The world’s largest contract chip maker is confident that consumers will start buying 5G phones, signaling a potential recovery for the struggling semiconductor industry.

Taiwan Semiconductor Manufacturing Co. raised its capital expenditure forecast for this year to $14 billion to $15 billion, nearly 40% higher than its previous estimate and last year’s amount. It also expects to invest a similar sum next year.

As the world’s largest chip foundry with a market value of $248 billion, TSMC is a good gauge of semiconductor demand. It manufactures chips designed by others, including smartphone makers such as Apple and Huawei, and “fabless” chip specialists like AMD and Qualcomm that don’t have production facilities. Den Rest des Beitrags lesen »

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Another Scottish referendum beckons—and this time the nationalists may win

Posted by hkarner - 20. Oktober 2019

Date: 19-10-2019
Source: The Economist

Brexit, and the capture of Westminster by hardliners, has increased Scots’ appetite for independence

It is a defining characteristic of the modern Scottish nationalist movement that it refuses to engage in extreme methods to advance its cause. This week, as Spain’s supreme court jailed Catalan separatist leaders for between nine and 13 years for sedition, following an illegal referendum and unilateral declaration of independence in 2017, the Scottish National Party was gathering peacefully in Aberdeen for its annual conference.

Nicola Sturgeon, the snp’s leader and first minister of Scotland, was quick to condemn the Spanish court’s decision as “dreadful”. But the contrast between the two movements is stark. When it comes to radical activity, Scottish nationalists might engage in a boisterous march through the streets of Edinburgh or, if especially grumpy, wave some placards outside the “biased” bbc. But they obey the law.

This perhaps reflects the fact that Britain has been a union of choice for more than 300 years and has largely operated to Scotland’s advantage. Even with the separatist snp repeatedly elected to power at Holyrood, Scotland’s devolved parliament, over the past decade, the nation has remained a reasonably relaxed part of Britain, voting 55-45 to stay in an independence referendum in 2014. Den Rest des Beitrags lesen »

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