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Inequality has many sources, but political and technological dynamics are key factors. by Charles Hugh Smith, Of Two Minds: You may have seen this video on Wealth Inequality in America, which has gone viral. I have shown the same data for years in charts and discussed it at great length: Made in U.S.A.: Wealth Inequality (July 15, 2011). The bottom 80% of American households held a mere 7% of these financial assets, while the top 1% held [...] from FT: It is easier to make money than sense out of China’s banks. These big four state-owned commercial banks are huge profit centres, but many who see vulnerabilities in China’s economy think that these banks are the problem when they actually reflect symptoms of distortions elsewhere. China’s banks are in fact too secure – and their performance could be improved by strengthening competition and breaking up the “too big to [...] From Economic Policy Journal: “People don’t pay attention until cities talk about bankruptcy, but by then the frog has already been boiled to death.” So says David Crane, a lecturer in the Public Policy Program at Stanford University who is president of the advocacy group Govern for California and a member of the Volcker-Ravitch State Budget Crisis Task Force, writes Mark Funkhouser at Governing Magazine. Here’s Funkhouser reporting on an interview with [...] CHARLES HUGH SMITH Perhaps all the assumptions about inflation being good and deflation being bad miss the key question: cui bono (to whose benefit?)
One of the most widely accepted truisms of our time is that deflation is bad: bad for debtors, bad for the indebted government, and therefore bad for the economy. What all this overlooks is how wonderful mild deflation is for those who owe no debt but who own the debt [...] NEW YORK (Reuters) – About six years ago, an army of agents hired by energy companies started desperately courting landowners across the United States whose farms and ranches happened to sit atop some of the richest oil and gas deposits in the world. And so began one of the biggest land grabs in recent memory. Those days are over. U.S. energy titan Chesapeake Energy is quickly cutting back on an aggressive land-leasing [...] When Congress won’t do what he wants, he ignores it and acts anyway. The ObamaCare litigation is history, with the president’s takeover of the health sector deemed constitutional. Now we can focus on the rest of the Obama imperial presidency. when Mr. Obama wants a new program and Congress won’t give it to him, he creates it regardless. Congress, including Democrats, wouldn’t pass his cap-and-trade legislation. His Environmental Protection Agency is now [...] House lawmakers will consider an international proposal next week to give the United Nations more control over the Internet. The proposal is backed by China, Russia, Brazil, India and other UN members, and would give the UN’s International Telecommunication Union (ITU) more control over the governance of the Internet. It’s an unpopular idea with lawmakers on both sides of the aisle in Congress, and officials with the Obama administration have also criticized [...] via The hill:
House lawmakers will consider an international proposal next week to give the United Nations more control over the Internet. The proposal is backed by China, Russia, Brazil, India and other UN members, and would give the UN’s International Telecommunication Union (ITU) more control over the governance of the Internet.
It’s an unpopular idea with lawmakers on both sides of the aisle in Congress, and officials with the Obama administration have [...] Hot on the heels of President Subprime McDowngrade’s visit to Ohio — during which he attempted to take credit for Gov. John Kasich’s stunningly successful fiscal record — comes the obvious question from a reporter. Obvious, that is, if you’re a liberal Statist hack. The governor’s reaction is priceless. http://directorblue.blogspot.com/2012/04/ohio-governor-reacts-appropriately-to.html Over the course of the past year, fiscal conservatives — led by Kasich — eliminated an $8 billion shortfall in Ohio’s budget. How [...] by Doug Casey of Casey Research The Ascendence Of Sociopaths In US Governance An International Man lives and does business wherever he finds conditions most advantageous, regardless of arbitrary borders. He’s diversified globally, with passports from multiple countries, assets in several jurisdictions and his residence in yet another. He doesn’t depend absolutely on any country and regards all of them as competitors for his capital and expertise. Living as an international man used to [...] Infowars.com Mike Adams talks with regular Friday guest Bob Chapman of the International Forecaster about Ron Paul, Economy, NDAA & more. All that bluster in recent months from Bank of America about how it’s totally fine and everyone who says it isn’t is full of it? A crock. Bank of America, it turns out, has been operating under an informal “memorandum of understanding” with its regulators for the past two years. This “memorandum of understanding” requires the company to fix various governance, risk, and liquidity problems, Dan Fitzpatrick of the Wall Street Journal reports. And Bank [...] (Reuters) – U.S. regulators have informed Bank of America’s (BAC.N) board that the company could face public enforcement action if they are not satisfied with recent steps taken to strengthen the bank, the Wall Street Journal said, citing people familiar with the situation. BofA has been operating under a memorandum of understanding since May 2009. The memorandum, which is not public, identified governance, risk and liquidity management as problems that had [...] California has 760 new laws, mostly bad
In Sacramento’s annual ritual of last-minute governance, Gov. Jerry Brown signed a flurry of bills before Sunday’s deadline — most of them unnecessary, many harmful, with few exceptions. In total this session, the governor signed 760 bills, vetoing 128. Most Californians probably didn’t realize they needed 760 [...] This story is the first in a weeklong series on Gallup.com on Americans’ views on the role and performance of government. PRINCETON, NJ — A record-high 81% of Americans are dissatisfied with the way the country is being governed, adding to negativity that has been building over the past 10 years. Majorities of Democrats (65%) and Republicans (92%) are dissatisfied with the nation’s governance. This perhaps reflects the shared [...] Oil price reporting agencies Platts and Argus are under scrutiny over their governance and transparency as part of a G20 investigation into commodity speculation. by Charles Hugh Smith from Of Two Minds You Want Small Business to Start Hiring? Here’s What To Do To incentivize small business, we have to fix the structural imbalances in the U.S. economy. Everyone wants to know how the Central State can “help” small businesses so they will start hiring again. The answer is simple: fix the structural imbalances in the U.S. economy and start favoring real production [...] |
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