China has lent billions to poor countries, and now they can’t pay it back. Perhaps China should have heeded J. Paul Getty’s observation, “If you owe the bank $100 that’s your problem, if you owe the bank $100 million, that’s the bank’s problem.” China’s global lending spree, which, over the last two decades, showered less … Continued
Investors would be well advised to be cautious when evaluating investment opportunities based on government efforts to artificially, and often temporarily, affect consumer behavior. Consider the causes and implications of falling electric vehicles (EV) sales in China, the world’s largest market, accounting for approximately 60% of global output last year. China has been reducing subsidies … Continued
Francois Delattre, France’s ambassador to the United Nations, as he prepared to return to France, expressed the thought that the world is growing more dangerous. His concerns are based on the perception that three main safety mechanisms no longer function. No more American power willing to be the last-resort enforcer of international order. No solid … Continued
With the October 31 deadline for a Brexit withdrawal rapidly approaching, it is increasingly clear that there is no political consensus for the terms under which the United Kingdom would exit from the European Union. It has been suggested that, while 52% of British citizens voted in favor of Brexit in June 2016, increasing awareness … Continued
“Flygskam” is Swedish for “flight shame,” a rising headwind for the airline industry that is particularly strong in Sweden and Scandinavia. Climate studies show that airlines are a major factor in the increase in greenhouse gases. A European Commission study noted that someone flying from Europe to New York, and back, generates roughly the same … Continued
In light of British Prime Minister Boris Johnson’s move to suspend Parliament for several weeks, it might be helpful for investors to review our blog of 30 Apr 2019; Understanding Brexit. Understanding Brexit In Great Britain you can bet on almost anything through authorized bookmakers. Currently, the odds on Brexit happening are now, for the … Continued
Reuters recently reported that India’s coal-fired power generation capacity is expected to rise by 22.4% in three years, based on comments by India’s federal power ministry’s chief engineer. India, the third largest emitter of greenhouse gases, saw annual coal demand increase 9.1%, to nearly 1 billion tonnes, in the year ended March 2019. Coal demand … Continued
The full quotation, “In politics the middle way is none at all” is attributed to John Adams, frustrated by holdouts in the Second Continental Congress, who were clogging the docket with useless half-measures and misguided appeasements during the debate over a declaration of independence. Of course, we know that John Adam’s views prevailed and independence … Continued
According to Wikipedia, the yellow vest movement is a populist, grassroots, political, revolutionary, (take your pick) movement that began in France in October 2018. The movement is motivated by rising fuel prices, a high cost of living and the belief that a disproportionate burden of the government’s tax reforms are falling on the working and … Continued
In Great Britain you can bet on almost anything through authorized bookmakers. Currently, the odds on Brexit happening are now, for the first time, no better than even. Trying to explain Brexit is almost impossible. Perhaps the most interesting effort comes from Jeff Lafferty, a Scottish comedian. “So the way I understand it is that … Continued
Dependence on subsidies entails significant, and potentially existential, risk factors. A case can be made in favor of subsidizing new technology, for limited periods, in order to mitigate early, low volume related costs, as potential participants seek to reach critical mass. However, subsidies are generally of limited duration, as the long term costs are not … Continued
We have previously commented on proposals by economists and political scientists that would substitute universal income policies as credible alternatives to existing social programs such as unemployment insurance. (see blogs dated 2015-12-17, 2016-11-22 and 2018-05-02,) The idea is straightforward: Provide citizens with a minimum allowance, without means-testing, that would give everyone the wherewithal to live … Continued
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