So what did we learn in 2012? Between 2008 and 2011 we learnt that if you’re running a bank, and you ever happen to face the mother of all debts, the
Just a map today to emphasize the isolation of Israel and the USA on the vote at the UN to recognise Palestine as a “non member observer state”. Indeed Palestine
Local Business: Titus Andronicus 3rd album, released on Oct 2012 Okay, I love Titus Andronicus. I even dare write their punkrock songs remind me of the Pogues and the Clash. Their
Even without being familiar with the opaque world of Wall Street investment banks, it is difficult not to be aware about Goldman Sachs. Since the Global Financial Crisis they have
Of course Julia Gillard’s impassionate tirade against Tony Abbott’s sexism was political point scoring. However the unpredictable way the video went viral abroad means that it can genuinely be enjoyed
It is often argued that financial markets are not like the real economy. But when Wall Street is opposed to Main Street it is mostly along the argument that greedy
Sharp spikes in global food prices, which occurred in 2007/08 and 2010/11, preceded the political unrest of the “Arab Spring”. Whilst it has been reported as a predominantly politically motivated uprising
Ecuadorian President Rafael Correa announced a few days ago that he believed his country has overcome the diplomatic spat with Britain over its threat to enter the Ecuadoran Embassy in
‘Extending the perimeter of the fight’… beyond the Fukushima zone. (literal English translation of Michel Houellebecq’s title “Extension du domaine de la lutte” published in English as ‘Whatever‘) Last March marked
Matt Cowgill flagged this UN report on his twitter stream: “Measuring child poverty – New league tables of child poverty in the world’s rich countries” http://www.unicef-irc.org/publications/660 A very rich document
The chronicle of the demise of Australian Labor since the emphatic victory of Kevin Rudd in 2007 has almost become a journalistic genre in its own right. From Left to Right,
So here we are… a couple of weeks after the election of Francois Hollande as the 2nd Socialist Party member to ever get to the Presidential position in the current
This is Part 2 of a post started here (Part 1) on the historical evolution on the French Right and how le Pen and the National Front got to occupy
Although Marine le Pen lost her bid to qualify to Round 2 of the French presidential election, she created a sensation and spread anxiety in scoring 17.9%: a record 6.4
The second round of the French presidential campaign is coming fast (on May 6) so because we don’t like to break proper etiquette, it is high time to introduce François
As per one of those typical French idiosyncrasies that provides inexhaustible material to foreign correspondents, the campaign for the French presidential race is now on hold for two days before
On Sunday 1/4/2012 the Age published a column from Chris Berg of the Australian ‘free market think-tank’ the Institute of Public Affairs (‘the IPA’). He followed up on the revelations
Job creator or job destroyer? – an insightful analysis of the mining boom by the Australia Institute (updated with graph after Gina Rinehart’s foreign workers controversy broke out) A very interesting
On 18 March 2012, the Australian Labor Party released a paper to attack the Liberal opposition on budget calculations. The gist of the note is to prove that Opposition policies
How would you feel if your insurance changed the rules to not pay you? This is what ISDA did to Greek CDS holders. And here is how… The self regulatory
Ο καπιταλισμός είναι ζωντανός και καλά, και εσείς ? … the first part of our title is an attempt for a Greek version of a stencil spotted on the Parisian
The excellent animated documentary drama on the legendary Texas ‘outlaw’ comic Bill Hicks, whose observations on American life had a profound influence on stand-up comedy. Trailer: Preview: (video) Source: aired in Australia on ABC2
(video)It’s that time of the year again. And if it does not comes back quicker that Christmas, it certainly comes earlier… The ‘Festive Season’ public decorations have been switched on
You remember that fellow trader Alessio Rastani, whose interview on the BBC went viral because he was claiming that “The Collapse is Coming and Goldman Sachs Rules The World”? And before
A blaze ravaged the premises of French satirical weekly ‘Charlie Hebdo’ on November 2, 2011. Witnesses immediately reported two men running away from the scene as the fire began. The suspicion
In Australia, the Qantas shutdown of Sat 29/10/11 has put scrutiny back on Industrial Disputes. In the last week the argument has moved from Qantas’ specific case to broad generalisations
It is not the anticipated celebration of another ugly victory of the French team at the Rugby World Cup that captured the media attention last week. It is the celebration
So. In May 2009 the Economist was writing that “the French way of doing things looked pretty good”. Fast forward to 2011, the Economist is now writing that “France’s Socialism
“Euro Break Up – The Consequences.” UBS starts with a fairly direct “under the current structure and with the current membership, the Euro does not work. Either the current structure will
This is a must watch Dutch documentary which follow the narrative of @DougSaunders‘ book ARRIVAL CITY. Apart from a few bits it’s mainly in English. If you read the book and
It’s a bit technical but here is the chart that illustrates the whole issue with the French debt and threatened downgrade. It compares side by side the trading values of
The downgrade of the US debt rating from AAA to AA+ has been an inextinguishable source of jokes for the lovers of French cuisine. AAAAA (yes, 5A!) is the quality
If you missed it, this is the Australia Institute’s executive director Dr Richard Denniss in conversation with Greens Leader Senator Bob Brown at ‘Politics in The Pub’. A really nice session
A small step for man… but a potentially big step for the country. Contrary to the perceived official position of an unequivocal national commitment to the atomic energy, a poll recently
In an op-ed on the highbrow Project Syndicate, Shashi Tharoor – former Indian Minister of State for External Affairs and UN Under-Secretary General – came back on the reasons why
If you are a sucker for political sagas brought into movies you are going to love the latest ‘fiction’ to be screened at the Cannes Festival later this year. French president
{ this is NOT a post, but a little compendium of links and quotes } If you wanted to get a quick update on the various schools of analysis after the
Would you like to work 10 hours a day, seven days a week, own 29 possessions (including 4 chopsticks and a mobile phone), live in a dormitory and be able
On election night 25 Nov 2007 Australian Labor leader Kevin Rudd put an end to 11 ½ years of conservative government standing on a stage by the words “new leadership,
No New Hope for the Debt Star (Episode IV) as S&P downgrades US Sovereign Debt, while BRICS seek “Phase Out” of Dollar This has been a tough month for the US
Charles Ferguson’s film – Inside Job – won the Academy Award for Best Documentary in 2011. It narrates the conflicts of interest between the finance industry, politicians, academics and regulators,
Tepco, the giant Japanese electricity utility, is in deep… financial troubles following the Fukushima incident. Some in Japan are considering nationalising it as an option to keep all kind of
A Gonzo piece on Nicolas and Muammar… Last week I was on a cab en route to the airport when my driver asked “so what do you think of the French
A smart line has been circulating recently on the web: “Nuclear Cloud, Rise of the National Front in France, the US bombing Libya: welcome to 1986. We’re back to the
“If France can produce 80 percent of its electricity with nuclear power, why can’t we?” - John Mac Cain, US Senator Putting thoughts in an envelop to be reopened when
Hollywood and Washington might be having another one of those wonderful serendipitous moments. When the movie script writers capture the political mood better than the spin doctors could ever dream of. This
(This quick post is highly inspired by a column from French journalist Guy Birenbaum written in reaction to an opinion poll giving the National Front Leader ahead of all other candidates
They are doing it again. 20 years after one of the biggest political misjudgements when France and Britain feared the fall of the Berlin Wall, Western governments do not quite
ABC Drum Editor Jonathan Green obviously touched a nerve when he argued that “The media is not there to help. It does not feel your pain” His views have been echoed
UK’s love affair with banks has been a long story Big provider of jobs and wealth, the finance industry has traditionally been the poster child of post industrial UK. This heroic
(This is a loose and abridged translation of the original piece from Grégoire Fleurot published in French in slate.fr) Since the demonstrations in Iran last year Twitter has become an increasingly
So the Egyptians did it. Hosni Mubarak became the second Arab dictator to be ousted in as many months. As the army takes over it is still too soon to
The name of Antonio Ibanez of the city of Springfield, Massachusetts might not be familiar, but what he is about to do the US banking industry could have been written
On 1st February 2011 the Australian independent online media newmatilda.com relaunched after a successful fundraising campaign, which enabled them to overcome the withdrawal of their main sponsor in 2010. It was a small
The immigration debate has all the attributes of a barbecue stopper. Refugee advocates campaign on the necessity for compassion, whereas border vigilantes focus on deterring people smugglers and the threat
For a quarter of a century Ben Ali has been ruling Tunisia as the unchallenged autocratic despot. Probably to the wonderment and envy of his colleagues in South and Central
Let’s face it, apart from specific parts of the world such as Saudi Arabia or Afghanistan where alcohol consumption is banned, the world goes on a global scale piss around
Is the #Wikileaks we see the Wikileaks we need? In the December 4th issue The Economist magazine argued that none of the diplomatic cables released by Wikileaks to date “provide an
A press clipping freshly received from your French correspondent NKN shows the dramatic picture of a former Greek right wing minister in shock after a rocky encounter with the crowd
It’s Thanksgiving, and Christmas is fast approaching. So here is a little seasonal present from the theOtherSchoolOfEconomics.org coming from some research done in the past months. A brief high level presentation
@DrSophie73 posted a link to a very interesting paper in the context of a conversation started by Ben Eltham’s New Matilda piece on what Australian Labor actually stands for. The
This post continues the conversation started here on the complex relationship between ‘the American Empire’ (perceived or real) and global finance. “American Empire and the Political Economy of Global Finance”
What the French protesters are telling us: it is a Social, not an Economic Choice Once again the French have taken on the streets and are throwing barricades and slogans at
Do you remember what happened on the Wall Street Stock Exchange on May 6, 2010? “On May 6, 2010, the prices of many U.S.-based equity products experienced an extraordinarily rapid decline
In his op-ed “Why the National Broadband Network (NBN) will fail” Malcolm Turnbull argues that the commercial sector is better placed than the government to deliver the technical infrastructure needed
["secular-not-picking-on-*a*-particular-religion-disclaimer": This piece was written after some theological, economics and historical research on the origin of Religion's obsession with our sexual life. It is written using the early Christian Church
You all did love him once, not without cause - Julius Caesar Act III, Scene 2 Iron Chef, every Saturday night on SBS In some respect, the political assassination of Kevin Rudd was
With relatively low media coverage, Australia is facing a pretty defining ‘moment’: the design of a new National Curriculum which is to supersede individual State Curricula over the years Kindergarten
In her recent post on edufutures.com Annabel Astbury raises a point that your correspondent has been wondering about from time to time: “The amount of times that I see people on
For all its drama and tragedy the Global Financial Crisis has been a time of such intense focus on all things Finance and Economics that one of its positive collateral
Do different standards apply when rescuing Wall-Street vs. the Greek economy? A thorough review of the media coverage leaves a sort of unease. Back in 2008, it was all about saving the
If you thought Australians did not give a stuff about what is happening in Greece and Europe because they are too busy dealing with China, think again. The PM is following
This post continues the theme started in a previous note “Will the Empire Ever Strike Back?” and takes us on a bit of a journey to recap some key The point
The Commonwealth Conundrum The Australian Commonwealth economic conundrum is the result of significant regional imbalances between states. Western Australia is busy digging up dirt and selling it to China,… Remember Midnight
US Treasury Bonds Now Value Less Than Private Bonds In a major step towards the end of an Era, more and more analysts now consider safer to buy sound Private Bonds
The efficient market hypothesis disproved. Financial Markets are not Supply-Demand Compliant We’ve all heard about the basic rule driving the economy: the law of supply and demand. After a simplistic presentation on
Why it is important to keep the bastards honest in Haiti as aid money is pouring in, heartbreaking images dominate the international news, and the profitable smell of blood is
Here is the 3rd of the PBS documentaries from Veteran FRONTLINE producer Michael Kirk, who has provided a narrative of what happened around the Global Financial Crisis: - Episode #3
This is the 2nd documentary of the 3-part series from Veteran FRONTLINE producer Michael Kirk regarding the GFC. The trilogy starts to shape the narrative of what happened around the Global
Last year, PBS aired 3 documentaries from Veteran FRONTLINE producer Michael Kirk. This trilogy starts to shape the narrative of what happened around the Global Financial Crisis: - Episode #1 Inside
Chinese Premier Wen Jiabao urges German Chancellor Angela Merkel to exit the world ruler room. Cover from the Economist [March 2009] “how China sees the world” echoing the New Yorker cover
Your correspondent wished he had Paul K by his side over the umpteenth dinner conversation about the compared merits and benefits of two slightly different proposals ofsocial and economic infrastructures: -
Antipodean cousins meet on the podium. The impasse of traditional economics to measure well-being and happiness is an ongoing source of debate. This why beyond the anecdotal fun facts, the publication
A few days ago I found out about an application that threw me off my chair: Pearltrees.com. The reason is that I have been discussing a similar concept around me for
The climate change debate moved to a new level of maturity and clear thinking in Australia when the Liberal party’s Senate leader, Nick Minchin declared on ABC 4 Corners: “For the
French politics, journalism, new media, irreverence… all in one post. Revisting what is actually left of the mainstream debate around Sarkozy. Martians and non-French speaking internet travellers might have noticed the proliferation
Richard Denniss‘ article is published in Dissent.com.au number30 He looks at income tax rates introduced by the Hawke and Rudd governments. A few points: - If the government wants incentives to make low-income earners
GFC as a Bohemian Bankruptcy, a la Queen The previous post was about 1 picture worth 1000 words. This one is an alternative in video… - lfo
Download now or watch on posterous Miossec – On était tellement de gauche_24_10_2009.mp4 (8837 KB) French version of [ @BradFidler http://is.gd/4yqA3 ] : Christophe Miossec Christophe Miossec [Website] & [en.wikipedia]. Singer and songwriter.
Joe Biden had a question. During a long Sunday meeting with President Obama and top national-security advisers on Sept. 13, the VP interjected, “Can I just clarify a factual point? How much
The recent review of three books about Keynes’ ideas by the Economist is a timely prompt to: a – read about John Maynard to understand his legacy, and b – discover the
According to the Finish media the government is preparing to make 1Mb Broadband internet access a legal right from next July 2010. http://tr.im/Ccoa It had already decided to make a 100 Mb broadband connection
Today POTUS {aka the PresidentOfTheUS} has received the Nobel Peace Prize for 2009. Today NASA is also bombing the moon, in a totally peaceful manner. The internet has gone loco to celebrate
{notes taken from the GriffithREVIEW 25} The globally connected, technologically enabled economy we have been experiencing in the last decade was born out of the ashes of the recession of 1982-83. A
Jonathan Nitzan and Shimshon Bichler. Their site: http://bnarchives.yorku.ca Most recent Book: “Capital as Power: A Study of Order and Creorder” http://bnarchives.yorku.ca/259/
From The Age Newspaper (Australia); a fairly incisive column by Catherine Deveny on a key – but somehow overlooked – aspect of the failure of our system: “the rich, middle-aged, middle-class
In response to ‘after the era of excess’ published by mckinsey in ‘whatmatters‘ Article, which is calling for more thinking. It is asking for a Strategic change… Yet the majority of the
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