Politico
28 minutes
Big companies that make up major stock market indices tend to benefit from free trade and could see their profits hurt by significant import tariffs. More broadly, some analysts said Trump sounded more like he did on the campaign trail rather than as a unifying figure eager to start his tenure in the White House with a positive message. “Overall, that was a more protectionist and nationalist speech than I expected,” said Megan Greene, chief economist at Manulife Asset Management. “Rather than unifying the country after one of the most divisive elections in U.S. history, he highlighted how bad things are in the U.S. economy and engaged in scaremongering, which was consistent with his campaign. Analysts have shuddered at countries using an ‘America Firsttype slogan in Europe in the past, but in this new age it has become acceptable.” The Dow was up about 70 points in early afternoon trading.
Collective Evolution
2 hours
S. military to create propaganda in a secretive operation. The firm reported to the CIA, the National Security Council, and the Pentagon during the project, and were paid half a billion dollars by them to create fake terrorist videos. You can read more about that here . These questions are becoming more persistent as times goes on, and were a major focus of the International Conference on the New World Order, organized and sponsored by the Perdana Global Peace Foundation . Below is a statement from that conference given by prominent author and Canadian economist Dr. Michel Chossudovsky, who is the University of Ottawa’s Emeritus Professor of Economics, explaining this viewpoint in detail: The global war on terrorism is a US undertaking, which is fake, it’s based on fake premises. It tells us that somehow America and the Western world are going after a fictitious enemy, the Islamic state, when in fact the Islamic state is fully supported and financed by the Western military alliance and America’s allies in the Persian Gulf.
euronews
3 hours
KyivPost
5 hours
Much of the time, argues David Runciman, a British academic, politics matters little to most people. Then, suddenly, it matters all too much. Donald Trump’s term as America’s 45th president, which is due to begin with the inauguration on Jan. 20, stands to be one of those moments. It is extraordinary how little American voters and the world at large feel they know about what Mr Trump intends. Those who back him are awaiting the biggest shake-up in Washington, DC, in half a century though their optimism is an act of faith. Those who oppose him are convinced there will be chaos and ruin on an epoch-changing scale though their despair is guesswork. All that just about everyone can agree on is that Mr Trump promises to be an entirely new sort of American president. The question is, what sort? Read more here. The post The Economist: The 45th president appeared first on KyivPost .
The Economic Times
6 hours
The 84-year-old leading Indian economist and philosopher said he would carry on doing his best through the trust he had set up after his Nobel Prize for Economics in 1998.
MintPress News
6 hours
Obama signed an executive order on Jan. 13 declaring both Venezuela and Cubanational security threats” despite no evidence of any such threat. Isnt it interesting that the president being lauded as the man who sought to normalize relations with America’s long-standing foe in Cuba still manages to not only classify the country as a threat, but to expand that same status to another geopolitical and strategic enemy in the region? The Obama administration has attempted to undermine and destabilize Venezuela using as pretexts everything from a border dispute with neighboring Guyana to artificially created scarcity of staple goods and speculation against the currency by elites who control commodity distribution networks in the country, and whose backers reside in Madrid, Miami, and Washington. Julio Escalona, an economist and former Venezuelan ambassador to the United Nations, told me in Caracas in 2015: “Our currency is not being devalued by speculation, but by hyper-speculation.
Sputnik International
7 hours
The Sun Daily
9 hours
Perhaps most worryingly, there has been no indication so far that the next US administration will not undermine multilateral trade negotiations under the auspices of the WTO. Trump's much-trumpeted preference for bilateral deals favourable to the US is likely to test trade multilateralism as never before. But President-elect Trump also has a penchant for the unpredictable, and may yet surprise the world with a new commitment to trade multilateralism to advance consumer, producer, and development interests for all. - IPS The writer is a prominent economist. Comments: letters@thesundaily.com
Voice Of America
12 hours
The Economic Times
14 hours
Abheek Barua (At ETMarkets.com, we have invited five biggies from the financial world to present their own budgets before the Union Budget is unveiled on Feb 1. Here is the first one, from the Chief Economist of HDFC Bank.) Start an income transfer programme First, I would introduce a large income transfer programme, say a top-up on all low balance Jan Dhan Accounts. There is some evidence that demonetisation has indeed hurt the most vulnerable income segments both directly through the lack of currency and indirectly through a fall in economic activity, job-losses etc. This programme of income support would help prop consumption up and also restore confidence in people with the simple yet powerful message that what the government promised to mop up as black money has been redistributed to them. Go easy on fiscal deficit; offer clarity on taxes Second, I would go a little easy on fiscal consolidation by keeping the fiscal Deficit-GDP ratio for 2017-18.
BBC News 24
14 hours
The Trump inauguration will no doubt be the main talking point at the World Economic Forum in Davos. So actually we will do this. We've been reporting from there all week. So, let's go live to Switzerland now for some reaction. Dr Paul Sheard is Global Chief Economist at SP Global. It is great to have you on the programme. Lots to talk about. Can we start with this whole thing about reversing globalisation and bringing jobs back to America apparently 5 million have been lost from the US since 2000.
Voice Of America
21 hours
Additionally, the president-elect has threatened to renegotiate the 1994 North American Free Trade Agreement (NAFTA), and has called China a currency manipulator and promised to fix the massive trade deficit between the two countries by raising tariffs on Chinese made goods by as much as 45 percent. He has also appointed critics of China, such as California economist Peter Navarro, who wrote a book titled Death by China, to oversee U.S. trade policy. Retaliation But the Brookings Institution’s Bill Galston is skeptical of Trump’s rhetoric. “The idea that this is a one-way street, that we can threaten China and China can’t threaten us back, I think is too simple,” he said. In fact, Galston says there are many different ways China could retaliate. “To start, they could cancel the orders they placed with Boeing and redirect those orders to Airbus, and that would have a large effect on the economy of the Pacific Northwest,” Galson said.
Breitbart News
a day
The Economist - Middle East and Africa
a day
THE fighting between the jihadists of Boko Haram and the Nigerian government has uprooted almost 2m people in north-eastern Nigeria; more than 5m are in need of food aid. The misery in the region was compounded on January 17th, when a Nigerian military jet mistakenly bombed an informal refugee camp sheltering thousands of people displaced by the violence. At least 76 people were killed and more than 100 were injured when the bombs hit Rann camp, home to 43,000 people. Among the dead were six Red Cross volunteers and three Médecins Sans Frontières contractors. The air strike—a “regrettable operational mistake”, according to Nigeria’s president, Muhammadu Buharireinforces long-standing doubts over the level of training and skills of Nigeria’s security forces, and the efficacy of its counter-terrorism operation in the region. Although soldiers are no longer sent off to fight without boots or bullets by generals sitting safely in the capital, as regularly happened two years ago, deficiencies in training and equipment are still evident.
The Economist - United States
a day
The Economist - Science
a day
NEUROSCIENCE, like many other sciences, has a bottomless appetite for data. Flashy enterprises such as the BRAIN Initiative, announced by Barack Obama in 2013, or the Human Brain Project, approved by the European Union in the same year, aim to analyse the way that thousands or even millions of nerve cells interact in a real brain. The hope is that the torrents of data these schemes generate will contain some crucial nuggets that let neuroscientists get closer to understanding how exactly the brain does what it does. But a paper just published in PLOS Computational Biology questions whether more information is the same thing as more understanding. It does so by way of neuroscience’s favourite analogy: comparing the brain to a computer. Like brains, computers process information by shuffling electricity around complicated circuits. Unlike the workings of brains, though, those of computers are understood on every level.
The Economist - Science
a day
Down in the forest, something stirred EVERY 11 years or so, a new sunspot cycle begins. Sunspots are apparent blemishes in the sun’s photosphere, the layer which emits its light. Though still hot (about 3,500°C), they are cooler than their surroundings (about 5,500°C) and thus appear dark by contrast. A cycle starts with spots appearing at mid-latitudes in both northern and southern hemispheres. Over time, the spot-generating areas migrate towards the equator. As they do so, the amount of light and other radiation the sun emits first increases to a maximum and then decreases to a minimum, until the spots vanish and the cycle renews. On Earth, the increased illumination of solar maxima drives photosynthesis, and thus plant growth. That permits botanists to use treesannual growth rings to work out what sunspot activity was like hundreds, and occasionally thousands, of years ago.
The Economist - Science
a day
WHEN introduced 40 years ago, the Soviet Shkval (“Squall”) torpedo was hailed as an “aircraft-carrier killer” because its speed, more than 370kph (200 knots), was four times that of any American rival. The claim was premature. Problems with its design meant Shkval turned out to be less threatening than hoped (or, from a NATO point of view, less dangerous than feared), even though it is still made and deployed. But supercavitation, the principle upon which its speed depends, has continued to intrigue torpedo designers. Now, noises coming out of the Soviet Union’s successor, Russia, are leading some in the West to worry that the country’s engineers have cracked it. Life in a bubble Bubbles of vapour (ie, cavities) form in water wherever there is low pressure, such as on the trailing edges of propeller blades. For engineers, this is usually a problem.
The Economist - Business
a day
IN RECENT weeks signs have appeared in the poky arrivals hall at Soekarno-Hatta airport in Jakarta, Indonesia’s capital, exhorting visitors to shun the dollar in the name of national sovereignty. “Use rupiah for all transactions in Indonesia!” travellers are told, as they wait, interminably, at the luggage carousels. That reflects old suspicions of foreign interference in the economy, South-East Asia’s largest, coupled with newer concerns about the currency’s vulnerability to capital flight. In 2013, when the Federal Reserve’s “tapering” of its asset purchases led to a 21% slide in the rupiah against the dollar, Indonesia was seen as one of the “fragile fiveemerging markets. Of late, anxieties have resurfaced. On December 14th the Fed raised interest rates for the first time in a year. More rises are expected this year. Higher yields in advanced economies draw capital from emerging markets, putting pressure on their currencies.
The Economist - Business
a day
EVERY ten minutes, black Volkswagen shuttle vans ferry delegates from their hotels in Davos, Switzerland, to this year’s World Economic Forum, held from January 17th to 20th. If you could squeeze the world’s eight richest men into one of these vans, they might feel cramped. But they could comfort themselves with an extraordinary statistic: according to Oxfam, a charity, they own as much wealth ($426bn) as half the world’s population combined ($409bn). To make this striking calculation, the charity draws on data from Forbes magazine, which lists the wealth of the billionaires, and Credit Suisse, which estimates the smaller holdings of everyone else, thanks to painstaking work by three scholars of wealth, Anthony Shorrocks, Jim Davies and Rodrigo Lluberas. Pedants can nonetheless criticise Oxfam’s headline-grabbing comparison for its handling of debt, the dollar, labour and data.
The Economist - Business
a day
The Economist - Business
a day
The Economist - China
a day
FOR Admiral Wu Shengli, the commander of China’s navy since 2006, it must have been a sweet swansong to mark his imminent retirement. In November China announced that its first and only aircraft-carrier, the Liaoning , was combat ready. On December 24th its navy duly dispatched an impressive-looking carrier battle-group with three escorting destroyers, a couple of frigates, a corvette and a refuelling ship. It sailed from the northern port of Qingdao down through the Miyako Strait, past Taiwan and into the South China Sea. Three weeks later the Liaoning (pictured) was back in port having sailed home via the Taiwan Strait, thus completing a loop around the island. The point was not lost on the Taiwanese, who scrambled fighter jets and sent naval ships to monitor the group’s progress. The Chinese ships showed off their firepower, with Shenyang J-15 fighters staging a series of take-off and landing drills.
The Economist - China
a day
DELEGATES at the World Economic Forum in the Swiss resort of Davos often treat politicians as rock stars. But the fawning reception given to China’s leader, Xi Jinping, on January 17th was extraordinary. He was the first Chinese president to attend the annual gathering of the world’s business and political elite. Even an overflow room was packed when he delivered, in his usual dour manner, a speech laced with literary referencesrendered through bulky headsets into equally monotone translations. Mr Xi said little that was new, but the audience lapped it up anyway. Here, at a time of global uncertainty and anxiety for capitalists, was the world’s most powerful communist presenting himself as a champion of globalisation and open markets. Mr Xi (pictured, next to a panda ice-sculpture) did not mention Donald Trump by name, nor even America, but his message was clear.