SYDNEY—A fading mining boom may be taking the gloss off Australia’s resource-rich economy but the country has retained the title of happiest industrialized nation in the world.
That’s according to the Organization for Economic Cooperation and Development’s Better Life Index, which ranked the world’s developed economies on criteria such as jobs, income, environment and health.
Australia kept the top spot for the third year running, ahead of Sweden—also known for its high living standards [...]
With rates scheduled to rise in January, the study describes the six reasons why capital gains tax rates should be kept as low as possible.
The piece also notes that the new top U.S. capital gains tax rate in January of 28% will be much higher than the 16% average in the OECD.
Here is the study:
And here is a related IBD op-ed.
The top federal tax rate on capital gains is set [...]
PARIS (AP) — Europe’s debt crisis is pushing the 17-country eurozone toward recession and dragging down the global economy, the Organization for Economic Cooperation and Development said Thursday…
ECB holds rates as inflation eclipses growth risks
(Reuters) – The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, holding fire after a pick-up in inflation last month offset pressure to breathe life into the [...]
These would be the European Stability Mechanism and the European Financial Stability Facility.
German Government to stall ratification of ESM until mid September pending a full review of its legality under the German constitution. If this gets ratified, the Dow is going higher.
Germany’s delay in ratifying the permanent European Stability Mechanism is “worrisome,” the Organization for Economic Cooperation and Development’s chief economist, Pier Carlo Padoan, told La Stampa.
“We have in front [...]
July 10, 2012
The Constitution gives Congress the exclusive right to tax Americans at the federal level. Yet Congress continues to give away this most fundamental responsibility to international organizations, the most dangerous of which is the Paris-based Organization for Economic Cooperation and Development (OECD).
Most Americans probably would not approve of their tax dollars being used to support an international organization that undermines their fundamental liberties and promotes giving their [...]
This means a comparable drop in store for Spanish bonds and all the related securities in Europe, which courtesy of the bailout are all now daisy-chained.
“Spain’s Housing Market May Need Four More Years To Rebalance
The unwinding has begun: House prices have dropped 22% in nominal terms between first-quarter 2008 and first-quarter 2012, according to the Organization for Economic Cooperation and Development. That’s more than in any other eurozone country except [...]
PARIS (AP) — The 17-country eurozone risks falling into a “severe recession,” the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe’s central bank to act quickly to keep the slowdown from dragging down the global economy.
OECD Chief Economist Pier Carlo Padoan warned the eurozone economy could contract by as much as 2 percent this year, a figure that the Paris-based organization had [...]
By ROBERT J. BARRO
The weak economic recovery in the U.S. and the even weaker performance in much of Europe have renewed calls for ending budget austerity and returning to larger fiscal deficits. Curiously, this plea for more fiscal expansion fails to offer any proof that Organization for Economic Cooperation and Development (OECD) countries that chose more budget stimulus have performed better than those that opted for more austerity. Similarly, in the [...]
Rich Americans renouncing U.S. citizenship rose sevenfold since UBS AG (UBSN) whistle-blower Bradley Birkenfeld triggered a crackdown on tax evasion four years ago.
About 1,780 expatriates gave up their nationality at U.S. embassies last year, up from 235 in 2008, according to Andy Sundberg, secretary of Geneva’s Overseas American Academy, citing figures from the government’s Federal Register. The embassy in Bern, the Swiss capital, redeployed staff to clear a backlog as Americans queued to relinquish their [...]
(MONEY Magazine) — You knew it was bad, but now that your child is close or getting ready to go to college, you’re starting to get a truer picture ofhow bad. This year’s estimated $22,300 total price (including tuition, room, board, books, and fees) for the average public college takes nearly a third of the annual income of a typical family with college-aged kids.
That’s up from 15% a generation ago. At [...]
By William L. Watts
FRANKFURT (MarketWatch) — Euro-zone finance ministers meeting at the end of this week need to boost the firepower of the region’s rescue funds to at least 1 trillion euros ($1.34 trillion) in order to restore market confidence, Angel Gurria, secretary-general of the Paris-based Organization for Economic Cooperation and Development, said Tuesday. Gurria, in a statement, said a credible firewall will provide governments with the breathing space [...]
March 24, 2012
Portuguese police have attacked demonstrators protesting nationwide against the government’s austerity measures.
Demonstrations were held on Thursday in 38 cities and towns across Portugal, including the capital city of Lisbon, Oporto – the second largest city after Lisbon — and Coimbra, AFP reported.
In Lisbon, police resorted to baton charge and arrests to disperse the protesters.
At least one demonstrator was arrested in Oporto as protesters expressed outrage at Prime [...]
EVERY so often someone asks me: “What’s your favorite country, other than your own?”
I’ve always had the same answer: Taiwan. “Taiwan? Why Taiwan?” people ask.
Very simple: Because Taiwan is a barren rock in a typhoon-laden sea with no natural resources to live off of — it even has to import sand and gravel from China for construction — yet it has the fourth-largest financial reserves in the world. Because rather [...]
Cow to them, and they will own your sorry A$$$’s forever….
Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger.
Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according [...]
When Ronald Reagan said that big government undermined the economy, some people dismissed his comments because of his philosophical belief in liberty.
And when I discuss my work on the economic impact of government spending, I often get the same reaction.
This is why it’s important that a growing number of establishment outfits are slowly but surely coming around to the same point of view.
The European Central Bank published a study showing [...]
Europe’s pension time bomb has gone off. European demographics are among the worst in the world and Europe is heading into a huge, prolonged recession on top of it.??Please consider Europe’s $39 Trillion Pension Risk Grows As Economy Falters
Even before the euro crisis, people were worried about Europe’s pension bomb.
State-funded pension obligations in 19 of the European Union nations were about five times higher than their combined gross debt, according to [...]
by Simone Foxman
One of your New Year’s resolutions is probably to better balance your professional life with your personal life. If not, it should be.
So how do you accomplish this?
Perhaps the easiest thing to do is move to a country where the locals are already very happy with their work-life balance.
In October, the Organization for Economic Cooperation and Development (OECD) published the results of a survey of Work-Life Balance in its member countries. It [...]
PARIS (AP) — The Organization for Economic Cooperation and Development says policy makers around the world must “be prepared to face the worst,” as the economic impact of Europe’s debt crisis threatens to spread around the developed world.
The Paris-based OECD says in its latest Economic Outlook that continued failure by EU leaders to stem the debt crisis that has spread from Greece to much-bigger Italy “could massively escalate economic disruption” [...]
It’s the first rise in unemployment in 2 years as the flagging economies surrounding Germany continue to have effect.
German unemployment unexpectedly rose for the first time in more than two years in October and manufacturing contracted as pessimism mounted among businesses in Europe’s largest economy.
The number of people out of work rose a seasonally adjusted 10,000 to 2.94 million, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline [...]
1) IMF calls for collective action on global crisis
“International financial officials called Saturday for collective, decisive action to bring the global economy out of its current dangerous phase both in Europe and worldwide.”
“”Euro-area countries will do whatever is necessary to resolve the euro-area sovereign debt crisis and ensure the financial stability of the euro area as a whole and its member states,” the committee said.
Such measures [...]
Several studies of financial crises show that interest rates seldom indicate problems long in advance. In fact, we should probably be particularly concerned today because a growing share of advanced country debt is held by official creditors whose current willingness to forego short-term returns doesn’t guarantee there will be a captive audience for debt in perpetuity.
Those who would point to low servicing costs should remember [...]
LONDON—Food prices will be up to 30% higher on average over the next decade as slowing grains production fails to keep pace with rising demand, the Organization for Economic Cooperation and Development said Friday.
Price volatility, which has plagued agricultural markets in recent years, is also set to become commonplace as lower output gradually erodes world stocks, the OECD said in a joint report with [...]
From John Daly at Oil Price
The Fukushima Cloud’s Green, Not Silver Lining
The ongoing tragedy of Japan’s Daichi Fukshima nuclear complex will prove to be a boon for renewable energy in Japan, and astute investors should begin carefully to follow Tokyo’s new priorities.
Before the March 11 twin disasters of a massive earthquake followed by a devastating tsunami, about 30 percent of Japan’s electricity was generated by nuclear [...]
Last week, my colleague Zaid Jilani pointed out that America’s income inequality is worse than that in places like Pakistan and Ethoipia and roughly equivalent to that in Uganda and the Ivory Coast. Before its revolution, Egypt’s income inequality — which played a role in sparking the uprising against former President Mubarak’s regime — was actually better than that in the U.S.
This is some dubious company. And [...]
In 1910, Henry Van Dyke wrote a book called “The Spirit of America,” which opened with this sentence: “The Spirit of America is best known in Europe by one of its qualities — energy.”
This has always been true. Americans have always been known for their manic dynamism. Some condemned this ambition as a grubby scrambling after money. Others saw it in loftier terms. But energy [...]
Different varieties of rice are displayed for sale at a market in Phnom Penh, Cambodia. Photographer: Brent Lewin/Bloomberg
A global food crisis on the scale of what happened three years ago isnâ€™t recurring because an increase in the cost of rice, a staple for half the world, has lagged behind a jump for other grains, according to the OECD.
Rice futures traded on the Chicago Board of Trade rose 3.4 percent in [...]
The United States is continually getting poorer and is continually going into more debt.
Can anyone out there explain how that is a formula for economic prosperity?
Can anyone explain how that would work?
Please leave a comment and explain that to all of us if you can.
The truth is that as wealth continues to leave the United States and as the U.S. gets even deeper into debt, more Americans are going to [...]
#1 Approximately 45 million Americans were living in poverty in 2009.
#2 According to the Associated Press, experts believe that 2009 saw the largest single year increase in the U.S. poverty rate since the U.S. government began calculating poverty figures back in 1959.
#3 The U.S. poverty rate is now the third worst among the developed nations tracked by the Organization for Economic Cooperation and Development.
#4 According to the U.S. Department of [...]
The sovereign debt crisis facing Europe, which started in Greece, is spreading to many other large economies in the Organization for Economic Cooperation and Development (OECD), according to New York University professor of economics Nouriel Roubini.
Photo: Oliver Quillia for CNBC Nouriel Roubini
“Public debt sustainability has exploded as a serious issue in advanced economies, most notably in the euro zone’s ‘PIIGS’ Ã¢â‚¬â€Portugal, Italy, Ireland, Greece [...]