Economy

Australia’s annual budget deficits worsen by $7.5 billion U.S.

Australia - The Star

The budget would return to surplus in 2020-21, despite falling revenue and a slowing economy, Treasurer Scott Morrison said. The Star Rod McGuirk CANBERRA, AUSTRALIA—Australia’s projected budget deficits for the next four years have increased by 10.3 billion Australian dollars (US$7.5 billion) to AU$94.9 billion as the economy continues to slow following a China-driven… Australia’s annual budget deficits… Read More »

The American dream lives!

I am - AEI

Any chance America’s terrible, horrible, no good, very bad 2016 will somehow end well? AEI James Pethokoukis No way. This is the annus horribilis when… The American dream… Read More »

China and India Aren’t Afraid to Use Money as a Weapon

Money - National Interest

While India and China publicly disapprove of economic coercion, both have used it as an instrument of statecraft. The National Interest Rishika Chauhan “Major powers have to work with each other even if their interests diverge on some issues,” India’s Foreign Secretary S. Jaishankar stressed at the recently concluded India China Think-Tanks Forum in New Delhi. However, within the next few… China and India Aren’t Afraid to… Read More »

The British ‘Snoopers Law’: Implications for the US and government surveillance worldwide

Snoopers - AEI

Almost lost in the turmoil over Brexit and the fraught negotiations for the terms of Britain’s departure from the European Union, the British Parliament several weeks ago passed the most sweeping government surveillance and internal spying law thus far legislated by any Western nation. AEI Claude Barfield The Investigatory Powers Law, dubbed the “Snoopers Law” by its many critics, was passed after many months of debate and a few amendments aimed (unsuccessfully) at mollifying its vociferous dissenters among civil… The ... Read More »

US advances on clean energy with first offshore wind farm

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Offshore wind farms are in development across the country, but the election of Donald Trump may weaken federal support and squelch an emerging industry The Guardian Katie Fehrenbacher Several miles off the coast of Rhode Island, a clean energy landmark quietly just… US advances on… Read More »

Meet the millennials driving up China’s growing debt load

Mobile 3c Reuters 3c Shirley Feng 3c LLLL

Ma Yiqing, 24, is typical of China’s younger generation — he uses his credit card frequently and borrows from online platforms to fund shopping habits. Asia Times By REUTERS Ma  Yiqing, 24, is typical of China’s younger generation — he… Meet the millennials… Read More »

The central banker has no clothes

Federal Reserve Chairman Ben S. Bernanke in the hallway outside his office at the Federal Reserve building in Washington, May 5, 2010. Bernanke nearly saw his career in public service scuttled by widespread discontent about lax regulation of Wall Street and historic federal bailouts. (Mary F. Calvert/The New York Times)

What went wrong for the masters of the post-financial crisis universe. Politico Francesco Guerrera Central bankers were the undisputed winners of the 2008 financial crisis. As the rest of the world tumbled in economic turmoil, they … The central banker has no… Read More »

No Dollars, No Sense: A Government Beholden To ‘Economic Morons’

No Dollars no ... - New Matilda

Australia is headed towards a recession, aided by a federal government that appears to know not what it is doing, writes Ian McAuley. New Matilda Ian McAuley The National Accounts released last week confirm what economists already know: the Australian economy is in poor shape. The headline news is the 0.5 per cent quarterly fall in… No Dollars, No Sense: A Government Beholden To… Read More »

Out of obscurity

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The Asian giant has been helping its neighbour’s economic development for more than two decades Asia Times By SANDRA LOWE Laos’ emergence on the regional and international stage has seen it formulate the ambitious goal of shedding its… Out of obscurity… Read More »

Don’t divest from Emerging Markets: dollar highs won’t last

Investing - Asia Times

Long-term outlook for emerging markets with good economic freedom isn’t helped by a strong dollar – but a strong dollar isn’t what Donald Trump wants Asia Times Jerry Bowyer The question going forward for Emerging Market investors is this: “What will be the cost of being well diversified globally?” Is EM to be zeroed out, as… Don’t divest from Emerging… Read More »

ECB’s quantitative easing programme investing billions in fossil fuels

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EU emissions pledge could be undermined by bank’s investments in oil, gas and auto industries, new analysis shows The Guardian Arthur Neslen in Brussels The European Central Bank’s (ECB) quantitative easing programme is systematically investing billions of euros in the oil, gas and… ECB’s quantitative easing… Read More »

End tax breaks for the rich: Editorial

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A new report shows the injustice of Canada’s system of tax breaks. The Star Every year, Ottawa spends about $110 billion to help poor and middle class people through programs like the… End tax breaks… Read More »

Erdoğan’s call to citizens: Sell dollars for lira, gold

Dollars US 1a LLLL AFP photo

President Recep Tayyip Erdoğan called on Turkish citizens on Dec. 2 to convert their foreign exchange into gold or the Turkish Lira, adding that there was no option other than cutting interest rates to spur growth. Ηurriyet Following his remarks in Ankara, the lira saw fresh lows against the U.S. dollar. “Those who… Erdoğan’s call to… Read More »

Hebrides Range missile range secure until 2028

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The future of the UK’s largest missile range, based in the Western Isles, will be secure until 2028 following an announcement by the range’s operators that it has been awarded a £1bn contract amendment from the Ministry of Defence. (MoD) The Scotsman SHÂN ROSS QinetiQ, a leading science and engineering company, the… Hebrides Range missile… Read More »

America Needs More Energy To Power Its Manufacturing Resurgence

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Due to a confluence of technology, existing infrastructure, workforce, rule of law and markets, America is on the verge of a massive manufacturing boom that will boost domestic energy demand while adding jobs and lifting incomes. The Daily Caller Chuck DeVore The fuel for this coming boom is simple: the… America Needs More… Read More »

Trump expected to name financier Steve Mnuchin to Treasury

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President-elect Donald Trump is planning to name investor and former Goldman Sachs executive Steven Mnuchin as treasury secretary, opting for an industry insider with no government experience to helm the agency in charge of the nation’s finances, according to people familiar with the matter. The Washington Post By Ylan Q. Mui and Philip Rucker Mnuchin (pronounced mah-NEW-chin) joined Trump’s whirlwind… Trump expected to… Read More »