Posted by hkarner - 30. Januar 2017
Der Präsident und seine wirtschaftspolitischen Berater ziehen ein Resümee: In vielerlei Hinsicht wird eine Erfolgsbilanz präsentiert; es zeigt aber auch viele Baustellen und Defizite in der amerikanischen Wirtschafts- und Sozialpolitik auf.
Jedes Jahr im Januar legt der amerikanische Präsident der Öffentlichkeit seinen „Wirtschaftsbericht“ („Economic Report of the President“) vor. Der wird zusammen mit dem Jahresbericht des „Council of Economic Advisers“ (CEA) veröffentlicht. Das ist das offizielle wirtschaftspolitische Beratungsgremium des Präsidenten. Es besteht aus nur drei Mitgliedern, wird aber von rund 30 weiteren Ökonomen in seiner Arbeit unterstützt. Der diesjährige Bericht (s. hier) ist auch eine Art Schlussbilanz der Wirtschaftspolitik und -entwicklung der letzten acht Jahre, also der Obama Präsidentschaft, die mit dem Amtsantritt von Donald Trump letzte Woche zu Ende gegangen ist. Der Bericht präsentiert in vielerlei Hinsicht eine Erfolgsbilanz. Er zeigt aber auch viele Baustellen und Defizite in der amerikanischen Wirtschafts- und Sozialpolitik auf. Der mangelnde Erfolg auf einigen wichtigen Gebieten war sicher auch ein wichtiger Grund für den Wahlsieg des neuen Präsidenten, der die Welle des Populismus in Wildwest-Manier geritten ist, aber eine Volkswirtschaft in recht guter Lage erben wird. Es zeichnet sich ab, dass der neue Präsident nicht nur teilweise andere wirtschaftspolitische Ziele verfolgen, sondern auch andere Mittel und Strategien zu ihrer Erreichung einsetzen wird. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Bibow, Economy, Makroskop, Obama, USA | Leave a Comment »
Posted by hkarner - 11. Januar 2017
Joseph E. Stiglitz
Joseph E. Stiglitz, recipient of the Nobel Memorial Prize in Economic Sciences in 2001 and the John Bates Clark Medal in 1979, is University Professor at Columbia University, Co-Chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and Chief Economist of the Roosevelt Institute. A former senior vice president and chief economist of the World Bank and chair of the US president’s Council of Economic Advisers under Bill Clinton, in 2000 he founded the Initiative for Policy Dialogue, a think tank on international development based at Columbia University. His most recent book is The Euro: How a Common Currency Threatens the Future of Europe.
JAN 10, 2017 Project Syndicate
NEW YORK – On January 20, 2017, Donald Trump will be inaugurated as the 45th President of the United States. I would hate to say “I told you so,” but his election should not have come as a surprise. As I explained in my 2002 book Globalization and its Discontents, the policies we have used to manage globalization have sown the seeds of widespread disaffection. Ironically, a candidate from the same party that has pushed the hardest for international financial and trade integration won by promising to undo both.
Of course, there is no going back. China and India are now integrated into the global economy, and technological innovation is reducing the number of manufacturing jobs worldwide. Trump cannot recreate the well-paying manufacturing jobs of past decades; he can only push for advanced manufacturing, which requires higher skill sets and employs fewer people. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Fed, Globalization, Inequality, Life Expectancy, Obama, Project Syndicate, Stiglitz, Trump, USA | Leave a Comment »
Posted by hkarner - 19. Dezember 2016
Thanks to R.H.
Observer editorial, The Guardian.com,
The west seems impotent in the face of Russia’s cynical exploitation of the catastrophe that is Syria
“The world as we speak is united in horror at the savage assaults,” Obama said. “We have seen a deliberate strategy of surrounding, besieging and starving innocent civilians. We’ve seen relentless targeting of humanitarian workers and medical personnel and entire neighbourhoods reduced to rubble and dust. There are continuing reports of civilians being executed. These are all horrific violations of international law.”
Obama’s revulsion is fully justified. UN aid organisers, charity workers, Syrian community leaders, hospital doctors, foreign diplomats, reporters and editorial writers have run out of adjectives to adequately describe the full extent of the suffering experienced by ordinary people whose lives have been destroyed in the six-year-old war. Statistics, although difficult to digest, are still shocking: at least 500,000 killed, 1.9 million injured and more than half the country’s 23 million population forced to flee their homes. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Guardian, Obama, Observer, Syria | Leave a Comment »
Posted by hkarner - 8. Oktober 2016
Source: The Economist
America’s president writes for us about four crucial areas of unfinished business in economic policy that his successor will have to tackle
WHEREVER I go these days, at home or abroad, people ask me the same question: what is happening in the American political system? How has a country that has benefited—perhaps more than any other—from immigration, trade and technological innovation suddenly developed a strain of anti-immigrant, anti-innovation protectionism? Why have some on the far left and even more on the far right embraced a crude populism that promises a return to a past that is not possible to restore—and that, for most Americans, never existed at all?
It’s true that a certain anxiety over the forces of globalisation, immigration, technology, even change itself, has taken hold in America. It’s not new, nor is it dissimilar to a discontent spreading throughout the world, often manifested in scepticism towards international institutions, trade agreements and immigration. It can be seen in Britain’s recent vote to leave the European Union and the rise of populist parties around the world. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Economist, Economy, Growth, Inequality, Obama, Productivity, Unemployment, USA | Leave a Comment »
Posted by hkarner - 8. Oktober 2016
Source: The Economist
In his essay for this newspaper, Barack Obama raises the right questions about America’s economic challenges
ONE of the many unfortunate consequences of America’s presidential election turning into a reality TV show is the near-total absence of serious debate about economic policy. The vitriol on both sides of the partisan divide has made it all but impossible to have a minimal agreement even on the facts. Mendacity and insults have left no room for any substantive discussion about what the next president’s economic priorities ought to be. Whatever you think of Donald Trump, his populist, protectionist prescriptions are woefully short on policy detail; the few areas where concrete plans exist are internally inconsistent (slash taxes, increase spending and eliminate government debt). Hillary Clinton has reams of wonkish proposals, but she has trouble articulating an overall economic agenda and, amid the rhetorical mud-wrestling, her fiddly ideas have received little scrutiny.
That is the background against which we publish an essay this week by Barack Obama, in which America’s president lays out what he sees as the biggest economic challenges his successor will have to tackle (see Briefing). In a thoughtful argument pitched towards the centre ground of American politics, Mr Obama staunchly defends free trade, globalisation and American-style capitalism. He makes clear that America has gained “perhaps more than any other [nation] from immigration, trade and technological innovation” and criticises the “crude populism” on the left of his own party as well as that of the right which has bubbled up in 2016. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Economist, Obama, USA | Leave a Comment »
Posted by hkarner - 21. Juni 2016
Michael J. Boskin
Michael J. Boskin is Professor of Economics at Stanford University and Senior Fellow at the Hoover Institution. He was Chairman of George H. W. Bush’s Council of Economic Advisers from 1989 to 1993, and headed the so-called Boskin Commission, a congressional advisory body that highlighted errors in official US inflation estimates.
JUN 20, 2016, Project Syndicate
STANFORD – “History doesn’t repeat itself, but it does rhyme,” quipped Mark Twain. For generations, political leaders have been lending credence to that observation, as they have attempted to shape their legacies, taking credit for what worked and blaming predecessors or political opponents for what failed.
Many politicians continue to spin the facts even after they have left office. British Prime Minister Winston Churchill once boasted that, “History will be kind to me, for I intend to write it.” And, indeed, his multi-volume opus on World War II contains not only many of his most memorable lines (“their finest hour,” “so much owed by so many to so few”); it is also packed with justifications for his actions during the war.
Churchill’s writings may be biased, but they offer remarkable inside information and details that are not readily inferred from memos and briefs, which usually are incomplete and guarded in style. As historians know, there is great pressure to remember the past as the victors want it remembered. As Napoleon Bonaparte once put it, “History is a set of lies agreed upon.” Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Boskin, History, Obama, Politicians | Leave a Comment »
Posted by hkarner - 20. Mai 2016
Source: The Wall Street Journal By GREG IP
Obama administration wants Berlin to borrow more, but the real problem is Germany’s private sector, not its public sector
Germany’s private employers have been slow to raise wages since labor rules were made more flexible in the early 2000s, a dynamic that has kept a lid on demand.
The U.S. Treasury Department recently unveiled a new watch list of potential currency manipulators. That China and Japan were featured was hardly a surprise; both have used weaker currencies to help exports, and both are notoriously unfriendly to imports.
Germany’s inclusion is, by contrast, perplexing. It can’t manipulate its currency since it doesn’t have one, having outsourced that to the European Central Bank. It can’t discriminate against imports because trade policy is the European Union’s job.
Like the others, it does have a big surplus on its current account, the balance on all trade and income with the rest of the world. At nearly $300 billion last year, or 8.5% of gross domestic product, it ties with China’s as the world’s largest. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: china, current account balance, Germany, Japan, Obama, trade surplus, USA, WSJ | Leave a Comment »
Posted by hkarner - 5. Mai 2016
Source: Thomas L. Friedman
Like many others, I watched the video that President Obama showed at the White House Correspondents’ Dinner on Saturday of him inviting former House Speaker John Boehner over to solicit his advice on what Obama should do post-presidency. It was remarkable to see the real Boehner and the real Obama acting like best buddies in the White House movie theater. Boehner even tells Obama that he finally got a “grand bargain” — only it was on a Chevy Tahoe, not the one they tried to negotiate on the economy.
I watched that video with Chuck Todd, the host of “Meet the Press,” and he had the exact same reaction I had: “Where was that brotherly love when America needed it” for a real grand bargain?
That scene plucked the deepest emotional chord in the country today: The nonstop fighting between our two political parties has left many Americans feeling like the children of two permanently divorcing parents. The country is starved to see its two major parties do big hard things together again. And getting a glimpse — even just a pretend one — of Obama and Boehner teaming up reminds you what’s been lost. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Friedman, NYT, Obama, Trump, USA | Leave a Comment »
Posted by hkarner - 27. Januar 2016
Source: Thomas L. Friedman
STOCKHOLM — Now in his last year in office, President Obama is in legacy mode. He has much to be proud of. But if he doesn’t want his achievements muddied by foreign policy, he’ll spend his last year redoubling his efforts to contain the Middle East refugee crisis before it goes from a giant humanitarian problem to a giant geostrategic problem that shatters America’s most important ally: the European Union.
I know — putting “European Union” into the lead of a column published in America is like a “Do Not Read” sign. Maybe I should call it “Trump’s European Union.” That would go viral. But for the two of you still reading, this is really important.
The meltdowns of Syria, Somalia, Eritrea, Mali, Chad and Yemen and our takedowns of Libya, Iraq and Afghanistan — without proper follow-up on our part, NATO’s part or by local elites — has uncorked the worst refugee crisis since World War II. This tidal wave of migrants and refugees is a human tragedy, and their outflow from Syria and Libya in particular is destabilizing all the neighboring islands of decency: Tunisia, Jordan, Lebanon, Kurdistan and Turkey. And now it is eating away at the fabric of the E.U. as well. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Europe, Friedman, Miliband, NYT, Obama, Refugee, USA | Leave a Comment »
Posted by hkarner - 29. Oktober 2015
Posted on October 27, 2015 by Ellen Brown, Web of Debt Blog
Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.
— Canadian Prime Minister William Lyon Mackenzie King, 1935
On November 3rd, the US government will again run out of money due to a debt ceiling artificially imposed by Congress. This is the third time in four years that a radical faction has taken the country to the brink of default to extort concessions that are at best only marginally related to the budget.
The debt ceiling is an unconstitutional gimmick that violates the 14th amendment, which says the validity of the government’s debt shall not be questioned. The debt was incurred by Congress when it passed the budget, and the money has been borrowed and spent. Congress cannot now refuse to pay.
One good gimmick deserves another. The debt ceiling could be eliminated for good, by restoring to the government its constitutional authority to create money. Article 1, Section 8, provides: “The Congress shall have the power to coin money [and] regulate the value thereof . . . .” The president could pay the government’s bills by issuing some large denomination coins by executive order.
When the Constitution was ratified, coins were the only officially recognized legal tender. By 1850, coins made up only about half the currency. Today, they make up less than one-half of one percent of the money supply – about 50 billion out of a $12 trillion circulating money supply (M2). These coins, along with about $25 billion in US Notes or Greenbacks originally issued during the Civil War, are all that is left of the Treasury’s money-creating power. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Brown, Debt, Obama, USA, Web of debt | Leave a Comment »