Post Tagged with: "wealth"
Debt and Democracy: Has the Link been Broken?
Debt and Democracy: Has the Link been Broken
Sixty percent of China’s rich want to leave the country
Sixty percent of the rich Chinese people have said they intended to migrate from China in a recent poll. What would that mean for FX reserves, interest rates and the economy
France: wealthiest ask government for special tax on the super-rich
This is a temporary tax proposal to demonstrate solidarity in tough times. It reminds me of the solidarity tax Germans paid to deal with their reunification
Jon Stewart on Warren Buffett and the Class Warfare meme
Jon Stewart has noticed that Fox News is selling viewers on the view that ‘socialists’ like Warren Buffet and Barack Obama are engaged in class warfare. He presents an amusing view; take a look
Policy Conclusions for Russia (Part 2)
Can Russia get the best of both worlds by freeing its economy from technologically unnecessary charges and rentier tolls paid to special interests? Such expenditures prevent the economy from developing. That is the basic cause of poverty – and hence of national decline. Now that neoliberal financial lobbyists have turned Progressive Era economic reforms upside down, it is necessary to “reform the reformers” in order for Russia to rebuild its economy in the way that made the U.S. and Western Europe so successful during their economic takeoffs
Rising executive pay behind income inequality
Executive pay has skyrocketed. Meanwhile, the real average hourly wage peaked in 1973. It declined precipitously until the mid-1990s before rising somewhat. The increase in labour participation rates due to the addition of women in the paid work force has meant that Americans’ per capita and household income levels have risen. However, now labour force participation rates are at their lowest in 30 years
China’s lowering taxes should increase inflation
The Financial Times is reporting that China is attempting to address its wealth gap through a number of measures, the principal one of which is raising the tax exemption on income. As welcome as such a move is for consumers facing significant food and energy inflation, in the broader context of the Chinese inflation picture it is a net negative
The Fragile State of China’s FX Reserves
Victor Shih argues that Chinese FX reserves are vulnerable and that raising real interest rates are key to reducing the potential risk. Video and PDF presentation provided
Stiglitz: Of the 1%, By the 1%, and for the 1%
The following video talk is based on a must-read piece Professor Stiglitz wrote in Vanity Fair on inequality in the United States
Capital Offense
By Marc Chandler A disproportionate amount of mind share has been devoted to the financial aspects of the crisis. Investors and policy makers alike may be distracted by this over-emphasis and thus leaving them vulnerable to other aspects of the crisis. More specifically, the underlying challenge is sustaining aggregate demand in the face of a
QE and the Wealth Effect
By Claus Vistesen Events in Japan and Libya do not seem to have derailed the ongoing positive sentiment in the market. But they just might have alerted various Masters of the Universe that black holes (or was that swans?) are both invisible and unpredictable until they occur. It is precisely because of this that such
Structural or Cyclical Problem? Try Institutional
Harold Meyerson, in The Washington Post, says debate about whether the recession and poor recovery are cyclical or structural problems is misplaced. Meyerson says the problems are institutional imbalances