Written by Frank Li
America is a very young country (as compared with China, for example) and Americans often take many old things as new, innocently and ignorantly. Two examples:
Fiat money: It was invented by the Chinese more than 1,000 years ago!
Money printing: It has been used, misused, and abused, by many governments around the world ever since fiat money was invented.
by Dirk Ehnts, Econoblog101
The Pew Global Attitudes Project has its annual report out. It confirms what all European already know: disillusionment with the way the European institutions function. Democracy is a nice word, but in Europe, it is not one man one vote. The European parliament is too weak to go after the commission. The troika sits in many countries, potentially blocking legislation that would help those most affected and the ECB has stressed its mandate as far as it goes but can not do any more. Here is a vital passage:
A Review of the Documentary "Thin Ice" produced by Oxford University, United Kingdom, Victoria University of Wellington, New Zealand (VUW), and London-based DOX Productions.
Written by Charles McKenna
Editor's note: The trailer for the documentary can be viewed at the end of this article.
Scientists have just released the results of new work that broadens their database and provides more accurate estimates of expected temperature rise due to climate change. Their recent conclusion: Past estimates of global warming have severely underestimated the actual temperature rise we are likely to experience.
by Ajay Shah, ajayshahblog
Yu Hua has a great piece in the New York Times titled In China, Power is Arrogant where he says:
Several of these rules have since been revoked, but their wacky and arbitrary nature demonstrates the arrogance of power in China. One can imagine all too easily their creators — sitting in comfortable armchairs, drinking high-grade tea and smoking fine cigarettes — discussing the issues at hand as if they were purely intellectual abstractions, never considering how ordinary people might react. That people will be unhappy is no cause for concern because, for so long, the power of the state has trampled on individual rights. Only when rules are so onerous that they stir actual protest do higher-ups take notice: “You guys are just making a mess of things,” they’ll tell their bureaucrat underlings.
by Robert Huebscher, AdvisorPerspectives.com
Niall Ferguson is the champion of anti-Keynesian economists. Last week, he explained why America’s pursuit of Keynesian policies is leading to disastrous consequences.
Ferguson gave four symptoms of U.S. degeneration as evidence that Keynesian policies have created underlying weaknesses.
Ferguson, a professor at Harvard, gave the opening talk at last week’s Strategic Investment Conference in San Diego, hosted by Altegris Investments and John Mauldin. His remarks were based on his newly released book, The Great Degeneration: How Institutions Decay and Economies Die.