Stratfor: Geopolitics of the Gregorian Calendar

by STRATFOR When England adopted the Gregorian calendar in 1752, some 170 years after it was introduced by Pope Gregory XIII, Benjamin Franklin wrote, “It is pleasant for an old man to be able to go to bed on Sept. 2, and not have to get up until Sept. 14.” Indeed, nearly two weeks evaporated …

Central Banks are Directly Changing Income Distribution

The Supply-side, Demand-side Keynesian Split by Dirk Ehnts, Econoblog101 The fact that quantitative easing (QE) leads to a distribution of wealth has been the topic of a recent McKinsey paper, which includes the following graph:

ECB Bank Stress Tests: Catalyst Of The Final EU Crisis?

by Cliff Wachtel, FX Empire Everything you need to know about biggest threat to markets for the foreseeable future-why EU bank supervision can’t be avoided, but risks so much The following is a partial summary of conclusions from our weekly analysts’ meeting for the week ending 15 November 2013 in which we share thoughts and …

Austerity and Stupidity

oday’s austerity, many argue, is stupid. This column argues that today’s EZ austerity may arise from stupidity before the crisis – specifically lacklustre structural reform. Excess debt arose in nations maintaining unsustainable living standards and welfare systems in the face of poor growth. The Crisis forced radical adjustments such as austerity in a recession.