Archiv: economy / economic cycles


28.11.2019 - 17:05 [ Wall Street Journal ]

China Protests New U.S. Law Supporting Hong Kong but Signals Hope for Trade Deal

Despite harsh language criticizing what Beijing calls U.S. interference in China’s domestic affairs, and a second summoning of the U.S. ambassador in a week, China’s leadership still wants a deal to help alleviate pressure on its fast-weakening economy.

27.11.2019 - 10:48 [ theGuardian.com ]

Germany is damaging the European economy. The answer? Raise German wages

Increasing wages increases consumption. Because 22% of consumption is imported in Germany – and because increasing wages doesn’t increase exports: if anything, the opposite – Germans having more money in their pockets will lead to them buying more foreign goods, reducing the current account surplus.

This won’t be easy to execute. There is a deep bipartisan consensus in Germany to maintain the status quo.

08.10.2019 - 15:05 [ New York Times ]

Will the Supreme Court Hand Trump Even More Power?

The version of the “unitary executive” put forth by Mr. Trump, the Justice Department and the shareholders would open the door for a president to fire for any reason — even personal reasons unrelated to the public interest or even for no reason at all — any head of an administrative agency, including the heads of “independent agencies” like the Consumer Financial Protection Bureau as well as the Federal Reserve, the Federal Trade Commission and the Nuclear Regulatory Commission. (These agency heads are nominated by the president and confirmed by the Senate.)

30.09.2019 - 13:27 [ CNBC ]

Oil falls as China’s economic outlook remains weak

Top oil exporter Saudi Arabia has restored capacity to 11.3 million barrels per day after an attack on its processing facilities this month, sources told Reuters last week, although Saudi Aramco has yet to confirm it is fully back online.

18.09.2019 - 22:39 [ Marketwatch.com ]

Fed decision and Jerome Powell press conference: live blog and video

The Federal Reserve makes its interest rate decision and also releases new versions of its dot plot and economic projections and Chairman Jerome Powell will address the media afterwards. Follow along as MarketWatch’s Rex Nutting, William Watts, and Jeffrey Bartash live-blog the action and watch the video of the press conference.

13.09.2019 - 12:20 [ Spectator ]

Brexit is already changing the British economy – for the better

First, we learnt that the economy overall expanded by 0.3 per cent in July, significantly faster than the 0.1 per cent expected, and better than most of our main rivals. Next, we found out that the trade deficit narrowed slightly as imports fell. Finally, we learned that employment was at record highs and that wages were still growing at record rates.

10.09.2019 - 17:47 [ Guido Fawkes ]

Treasury’s Remain Plot To Ensure an Anti-Brexit Governor of the Bank of England

A leaked shortlist for the next Governor of the Bank of England made its way from the highest levels of the Treasury to the pages of The Times last Saturday, and has now been followed up by an orchestrated letter signed by Remain supporting MPs. The letter is a not-so-subtle attempt to confirm the leak by making the Civil Service’s recommendation list public and therefore making it politically harder for the Chancellor to appoint a Brexiteer to the role.

28.08.2019 - 06:33 [ Telegraph ]

Time is running out for Germany’s economic miracle… can its political hierarchy be persuaded to change?

How many times does this need to be restated? Germany desperately needs to change its economic model, now more so than ever as its own economy, that of the European Union, and the world as a whole, again teeter on the brink of recession.

Most of all, it needs to make itself more reliant on internal, domestic demand, and less on exports.

23.08.2019 - 19:18 [ New Zealand Herald ]

NZ dollar rises after Reserve Bank Governor Adrian Orr talks up the economy

The New Zealand dollar rose after Reserve Bank governor Adrian Orr painted a rosy picture of the local economy and described the 50 basis point cut in the official cash rate earlier this month as „a pre-emptive double cut“ to reduce the need to cut more later.

23.08.2019 - 18:58 [ NPR.org ]

More Rate Cuts? Powell Says Fed Is Ready To Help Economy Grow Amid Trade Tensions

Signalling the possibility of more interest-rate cuts, Federal Reserve Chairman Jerome Powell said the central bank will „act as appropriate“ to sustain the economic expansion as the trade war with China takes a toll on global growth and the U.S. economy.

23.08.2019 - 18:53 [ FederalReserve.gov ]

Challenges for Monetary Policy – Chair Jerome H. Powell

As we look back over the decade since the end of the financial crisis, we can again see fundamental economic changes that call for a reassessment of our policy framework. The current era has been characterized by much lower neutral interest rates, disinflationary pressures, and slower growth. We face heightened risks of lengthy, difficult-to-escape periods in which our policy interest rate is pinned near zero. To address this new normal, we are conducting a public review of our mo netary policy strategy, tools, and communications—the first of its kind for the Federal Reserve.

20.08.2019 - 16:42 [ theSun.co.uk ]

EU-CONOMY: Germany’s central bank warns EU’s largest economy Germany is on the brink of recession as car manufacturing growth plummets and Brexit batters exports

EUROPE’S largest economy Germany could crash into recession as car manufacturing growth plummets and Brexit cripples exports, its central bank has warned.

Bundesbank said that lower consumer spending and softer overseas demand has caused the economic downturn.

20.08.2019 - 16:32 [ msn.com ]

New figures show UK economy a little larger than thought

The Office for National Statistics added around 26 billion pounds to the size of the world’s fifth-biggest economy in 2016, a rise equivalent to around 1.3% of gross domestic product and bringing total output to just under 2 trillion pounds.

14.08.2019 - 16:34 [ Telegraph.co.uk ]

Trade war and no-deal Brexit fears weigh on Germany’s struggling economy

Some Britons may feel a touch of schadenfreude from seeing that the German industrial juggernaut is spluttering but its woes are a troubling symptom of a slowing world economy.

14.08.2019 - 16:20 [ CNN ]

Dow tumbles 400 points after bond market flashes a recession warning

Investors are on edge because the German economy shrank in the second quarter, and the US-China trade war still looms large over markets, despite the latest truce. Industrial production in China grew at the weakest rate in 17 years.

12.08.2019 - 22:41 [ Spectator ]

With interest rates crashing, Boris is in luck – he can borrow his way out of any Brexit crisis

Is Boris Johnson the luckiest prime minister ever? This week, the Government can borrow money for ten years at 0.48 per cent and for thirty years at 1.16 per cent. At these rates, it would irresponsible not to borrow more.

10.08.2019 - 08:35 [ Daily Mail ]

No Deal Brexit bailout fund to stop some of Britain’s biggest employers going out of business if the UK crashes out the EU is being planned by Boris Johnson’s ‚war cabinet‘

– The Prime Minister has created a list of British employers considered at risk
– It comes after the country’s economy shrunk for first time in seven years
– Economy is the lowest it has been in a decade, prompting fears of recession

09.08.2019 - 14:53 [ Ansa.it ]

Over one million Italians lost jobs during crisis

The number of unemployed in Italy jumped by more than one million people between the start of the global economic crisis in 2008 and 2012, the national statistical agency Istat said Thursday.

03.08.2019 - 16:39 [ New York Times ]

U.S. Ends Cold War Missile Treaty, With Aim of Countering China

But the new missiles are unlikely to be deployed to counter the treaty’s other nuclear power, Russia, which the United States has said for years was in violation of the accord. Instead, the first deployments are likely to be intended to counter China, which has amassed an imposing missile arsenal and is now seen as a much more formidable long-term strategic rival than Russia.

03.08.2019 - 16:35 [ theGuardian.com ]

Why is Trump imposing tariffs on China and how could it affect global economy?

Global stocks fell sharply on Friday after Donald Trump threatened to impose tariffs on $300bn (£247.6bn) of Chinese goods in a rapid escalation of the trade war between the world’s two biggest economies.

26.07.2019 - 18:34 [ Bloomberg ]

Draghi Shouts Louder at Germany as ECB Prepares Stimulus

(25.07.2019)

Yet Germany, which has a budget surplus and which can borrow money at sub-zero rates, doesn’t see the problem even as its own manufacturing sector contracts. Finance Minister Olaf Scholz told Bloomberg Television on Thursday, minutes before Draghi’s press conference, that he has no plans to loosen the country’s purse strings because it’s not “necessary or wise to act as if we were in a crisis.”

01.07.2019 - 07:08 [ Bloomberg ]

ECB Seen Cutting Rates in September as Draghi Reloads Stimulus

(27.06.2019)

Respondents expect the deposit rate, already at a record low, to be reduced by 10 basis points to minus 0.5% in September. HSBC predicts a second cut of the same magnitude in December, and ABN Amro sees a second reduction at the start of next year. Money markets are pricing a 10-basis point cut in September.

20.06.2019 - 18:38 [ economicshelp.org ]

Effect of lower interest rates

in theory, lower interest rates will:

– Reduce the incentive to save. Lower interest rates give a smaller return from saving. This lower incentive to save will encourage consumers to spend rather than hold onto money.

– Cheaper borrowing costs. Lower interest rates make the cost of borrowing cheaper. It will encourage consumers and firms to take out loans to finance greater spending and investment.

– Lower mortgage interest payments. A fall in interest rates will reduce the monthly cost of mortgage repayments. This will leave householders with more disposable income and should cause a rise in consumer spending.

11.06.2019 - 18:36 [ NewStatesman.com ]

Ghosts in the machines: the invisible human labour behind AI

It’s easier and cheaper to employ humans to behave like machines than it is to develop machines that simulate human behaviour. Of course, many technology companies would rather you didn’t know this. Venture capitalists invest in the idea of human obsolescence. To them, routine human labour is an ungainly truth – the future, after all, lies in intangible capitalism, where returns flow to platform owners unrestricted by organised labour.

09.06.2019 - 15:23 [ New York Times ]

Elizabeth Warren and Bernie Sanders: Two Liberals Aiming for the Same Target

Neither Ms. Warren’s campaign nor that of Mr. Sanders will say at this point that they are deliberately eyeing each other, even though they are the candidates — out of more than 20 — who most represent the Democratic Party’s left flank.

09.06.2019 - 15:17 [ Glenn Greenwald / Twitter ]

Here’s what @TuckerCarlson last night extensively quoting and praising @ewarren’s economic plan, contrasting it with the inability of the GOP to defend US workers because they’re in servitude to the Koch Brothers, corporatism & libertarian economic theory

(06.06.2019)

09.06.2019 - 15:12 [ nymag.com ]

Warren’s ‘Economic Patriotism’ Plan Beats Trump at His Own Game

(04.06.2019)

“If they can close up an American factory and ship jobs overseas to save a nickel, that’s exactly what they will do — abandoning loyal American workers and hollowing out American cities along the way.”

The senator then turns her fire on the politicians who abetted these betrayals — mocking their attempts to use “globalization” as an alibi. “Globalization isn’t some mysterious force whose effects are inevitable and beyond our control,” she notes. “No  —  America chose to pursue a trade policy that prioritized the interests of capital over the interests of American workers.”

09.06.2019 - 14:57 [ Bernie Sanders, candidate for President / Twitter ]

In the last 40 years, corporations have squeezed everything they can out of workers while giving massive compensation to those on top. The result: half of Americans have virtually no wealth and live paycheck to paycheck. We’re going to create an economy that works for all.

01.06.2019 - 08:32 [ Washington Post ]

Trump defies close advisers in deciding to threaten Mexico with disruptive tariffs

The arguments against the tariffs — voiced internally by Kushner, Lighthizer and Treasury Secretary Steven Mnuchin — did little to dissuade Trump, and Kushner was asked to call Mexican officials to inform them of the impending threat.

After the Wednesday night meeting in the Oval Office, the tariff order was finalized by the White House counsel and the office of Stephen Miller, a senior White House adviser and immigration hard-liner who oversees domestic policy.

11.05.2019 - 07:14 [ Spectator ]

How do the Project Fear prophets explain the good news about Britain’s economy?

Yet you might think that hardened Remainers could just admit to a tiny of nugget of good news in that the economy has continued to defy the recession they so confidently predicted would result from a vote for Brexit. But not a bit of it. According to a Guardian news report on the story, the unexpectedly strong performance of the economy was “helped by unprecedented stockpiling by manufacturers fearful of the impact from a no-deal Brexit.”

11.05.2019 - 01:54 [ New York Times ]

Trump Renews Trade War as China Talks End Without a Deal

Mr. Trump is now moving ahead with plans to impose 25 percent tariffs on all remaining Chinese imports. Those new tariffs could go into effect in a matter of weeks.

In a statement Friday evening, the United States trade representative said Mr. Trump had “ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion.”

10.05.2019 - 17:18 [ investingacad.com ]

European stocks rise from a 6-week low on hopes of trade

European stocks rose on Friday, recovering from a six-week low as investors hope the United States and China can still resolve their trade dispute, even as a planned increase in US tariffs on Chinese imports comes into effect.

10.05.2019 - 17:16 [ CNBC ]

What trade war? China stocks jump after tariff hike

Acknowledging that continued talks on Friday stateside will be „positive,“ Nick Marro, analyst at the Economist Intelligence Unit, said …

10.05.2019 - 08:57 [ Xinhua ]

China deeply regrets U.S. tariff hike, vows countermeasures: Chinese delegation

China will have to take necessary countermeasures, said the delegation, which is currently in Washington for the 11th round of China-U.S. high-level economic and trade consultations.

10.05.2019 - 08:55 [ New York Times ]

Trump Increases China Tariffs as Trade Deal Hangs in the Balance

Mr. Trump’s decision to proceed with the tariff increase came after a pivotal round of trade talks in Washington on Thursday night failed to produce an agreement to forestall the higher levies. The White House said talks would resume again on Friday but it remains uncertain whether the two sides can bridge the differences that have arisen over the past week.

07.05.2019 - 17:55 [ theGuardian.com ]

China confirms vice-premier Liu He will visit US for trade talks

China’s chief trade negotiator will travel to Washington this week, according to the commerce ministry, tempering fears that talks to resolve a protracted trade war between the US and Beijing had been scuppered.

Liu He, a vice-premier, will hold negotiations in Washington on Thursday and Friday, according to the Chinese ministry, which did not elaborate on the agenda.

06.05.2019 - 11:04 [ Bloomberg Politics / Youtube ]

Trump Ramps Up Pressure on China to Complete Trade Deal

May.05 — President Trump is ramping up pressure on China to finalize a trade deal during talks in Washington this week. He’s threatening to more than double tariffs on $200B of Chinese sales to the U.S. and he posed new import taxes.

03.05.2019 - 11:56 [ Europäische Organisation für Kernforschung CERN ]

World Wide Web born at CERN 25 years ago

(12.03.2014)

In March 1989 Tim Berners-Lee, a scientist working at CERN, submitted a proposal to develop a radical new way of linking and sharing information over the internet. The document was entitled Information Management: A Proposal. And so the web was born.

The first website at CERN – and in the world – was dedicated to the World Wide Web project itself. Last April CERN initiated a project to restore the first website, and to bring back the spirit of that time through its technical innovation and the founding principles of openness and freedom.

In 1993 CERN put the World Wide Web software in the public domain.

28.04.2019 - 12:18 [ CEPR.net ]

Economic Sanctions as Collective Punishment: The Case of Venezuela

We find that the sanctions have inflicted, and increasingly inflict, very serious harm to human life and health, including an estimated more than 40,000 deaths from 2017–2018; and that these sanctions would fit the definition of collective punishment of the civilian population as described in both the Geneva and Hague international conventions, to which the US is a signatory. They are also illegal under international law and treaties which the US has signed, and would appear to violate US law as well.

28.04.2019 - 12:16 [ Independent.co.uk ]

US sanctions on Venezuela responsible for ‚tens of thousands‘ of deaths, claims new report

As many as 40,000 people may have died in Venezuela as a result of US sanctions that made it harder for ordinary citizens to access food, medicine and medical equipment, a new report has claimed.

The report, published by the Centre for Economic and Policy Research (CEPR) a progressive, Washington DC-based think tank, says those deaths took place following the imposition of sanctions in the summer of 2017.

21.03.2019 - 06:04 [ Guido Fakwes ]

Unemployment Falls to Lowest Rate in 45 Years

(19.3.2019)

At the same time real wages have risen yet again by 1.5% after inflation, and the unemployment rate has fallen to just 3.9%. This is the first time it has been below 4% in 45 years. Guido is still waiting for those 800,000 job losses that the Remain Campaign promised us…

19.03.2019 - 13:18 [ Reuters ]

Italy PM Conte seeks to reassure EU, U.S. over China deals

Conte told parliament that a Memorandum of Understanding to be signed with President Xi Jinping hooking Italy up to China’s Belt and Road infrastructure initiative “do not remotely put into doubt our euro-Atlantic alliance”.

28.01.2019 - 06:26 [ Reuters ]

Venezuela opposition leader urges Britain not to give gold to Maduro

Since last year Maduro’s government has been trying to repatriate gold from the Bank of England, fearing it could be caught up in international sanctions against his administration.

28.01.2019 - 06:24 [ Florentino Montalvo ‏/ Twitter ]

The venezuelan economic crisis can’t be blamed entirely on Maduro, this is standard coup procedure, to hit the economics by sanctions, create social unrest and offer a solution. Venezuela’s gold has been help in the UK that assist in getting basic needs.

18.01.2019 - 14:41 [ theNation.com ]

Why No Deal Is the Real Deal: Brexit and the Politics of the Interregnum

State aid is not permitted and nationalization is all but impossible under the rigorous competition law enshrined in the Lisbon Treaty of 2007. Sixteen of Labour’s core manifesto commitments would be illegal under EU Law. Labour campaigned in 2017 as if Britain was already out of the EU—and did far better than expected. Some commentators even filed the Labour Party under the dreaded heading of “populism.” The truth is that the EU makes democratic politics very difficult.

26.12.2018 - 18:11 [ Telegraph.co.uk ]

Is the era of central bank independence over?

The fortress walls of the Bank of England project an image of solidity, stability and impregnability. It matches the reputation it has tried to build over more than 400 years for sober analysis and, in recent years, steady impartiality.

Yet its defences have been infiltrated.

26.12.2018 - 18:07 [ CNBC.com ]

Trump advisor says Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are safe

President Donald Trump’s economic advisor Kevin Hassett said Wednesday that Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are not under threat.
Hassett told an NBC News reporter at the White House that Powell’s role as the leader of the U.S. central bank is completely safe.
That assurance followed Hassett’s appearance on Fox Business, where the head of Trump’s Council of Economic Advisors said he is highly confident that the president is happy with Mnuchin.

26.12.2018 - 18:00 [ CNBC.com ]

Treasury Secretary Mnuchin moves to quell firestorm, says Trump never suggested firing Fed Chairman Powell despite ‚absolute terrible‘ policy

(22.12.2018) President Donald Trump is opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury Secretary Steven Mnuchin said on Saturday.
„I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so,” Mnuchin said via Twitter.