the much-maligned Bush era Alan Greenspan recommended to the President, in case of crisis, make it rain on the American people billions of dollars in jet continuous.
Its monetary policy as chairman of the Fed for two decades, was branded by his detractors and enforced by the next as the cause of the current financial crisis.
This mode of operation however was not the only cause, but as you know, the scapegoat va di norma ricercato nei predecessori, specie se l’esplodere della crisi non avvenga sotto la presidenza Greenspan, ma sotto il suo successore Ben Bernanke.
L’era Obama non ha fatto molto meglio; e l’ultima mossa di quantitative easing della Fed di 600 mld di $ per rastrellare sul mercato assets di titoli americani, per ironia della sorte va nella stessa direzione del mantra economico di Greenspan.
Proprio come il fondo Bce , da 750 mld di € to support the EU economies at risk default, runs on the same parallel track, although the danger, sometimes involving more than a single sovereign debt is due to the cheerful management of banks in a specific nation, as we know, flank and often follow the economic policies of various governments.
So nothing new under the sun for 4 years ... U.S. ... despite the Bostonians and virtual creative financing.
's speech on the effectiveness of this maneuver by $ 600 billion is very thin, I would say almost perverse in intentions.
enter such a huge liquidity in the market may become saturated at the moment the market, boost consumption, promoting the liquidity of investment, weaken to $ Forex, give oxygen exports, lower the cost of raw materials in monocratic era monetary and provide security to the securities markets.
However, as a consequence, further raising public debt and private attorney inflation and destabilize the domestic economy, instead of doping purge.
In practice shifts the problem over time, but instead of solving it, lo aggrava ulteriormente.
Il debito sovrano americano si sta incrementando a percentuali greche e alcuni azzardano l’ipotesi che per il 2014, procedendo di questo passo, possa superare anche il 150% del Pil.
E tale importo, se sommato al grande debito privato degli States, porrà l’economia U.S.A. a vero rischio default, sulla strada di un mesto declino economico internazionale, trascinando seco molte altre economie.
Perché non è l’aumento del Pil, spesso in crescita anche per l’inflazione monetaria, che crea il benessere degli stati, ma l’investimento reale che is based on the savings gained: that investment based on savings that is real and not virtual is able to produce real income and further debt.
We are, however, in a globalized consumer world, where the only benchmark is wrong, the growth of GDP , and this is thought to increase the well-being of citizens.
What wealth? Not the real one, of course, given the widespread dissatisfaction and deep concern in the future that pervades the Western peoples, not so much haunted the possible lack of growth of GDP, but they may live with some confidence the near future.
The China, which rules inside their own money does not control the fluctuation of the market is very worried about inflation that accelerated to 4.5% and consumerism that is developing inside.
It is worth noting that the Chinese worker's average wage stood at about 1 / 8 of the West.
fears also that a possible braking economic / productive to explode il rischio mutui in modo incontrollabile.
Appunto per questa ragione pare che la dirigenza cinese abbia intenzione di proibire alle società straniere l’acquisto di immobili, onde frenare il flusso di capitali; e, nello stesso tempo, procedere ad una nuova stretta monetaria per frenare i consumi interni.
La politica monetaria cinese è pertanto quella di limitare al massimo la migrazione dei capitali instabili globalizzati.
A G20 di Seul , nonostante l’ottimismo di facciata, le regole economiche e finanziarie per il futuro sono state appena abbozzate, bloccate da species mutual recriminations between China and the U.S., the first workers to question the last Fed move (given that much of the debt of the U.S. is actually funded by China), becoming the second tying the ' Yuan to Forex, so the fluctuation of financial markets.
beginning of the financial crisis the fluctuation hysterical € / $ is often disconnected from macroeconomic data, given that markets do not fluctuate on the real economy, but only under the pressure of speculation large financial companies that can move huge masses of daily currency in spite of the central banks, often relying on levers disproportionate.
And the same fate comes to the titles of various states, often stuck without a valid reason is not clear whether speculative.
The Irish public accounts, for example, are in accordance with European standards and to suffer only the local banks in danger of default, to save the Government breached the parameters debt / GDP, however, while the Irish titles are brutally attacked by speculation, intent to trigger turbulence on '€ that they can be profitable, perhaps by involving chain also the titles of other countries " PIIGS .
The 600-billion Fed move would weaken the $, but a few days after falling in the report is' €, until it reaches the media of resistance (it would be better to say of income) that able to reverse the trend, then moving on in a continuous $ speculative swings.
The supposedly infected with turbulence adjacent to € / $, did so only as an excuse the title of a single EU state, but, in fact, aims to destabilize all the others, especially those that rely on debt sovereign excessive and that have been placed in good part abroad therefore beyond the control of their central bank. The problem is not so local, but of system.
the default is not true that the big financial stretch out, but the depreciation of the securities and the corresponding increase in related CDS that follows.
The true default would be catastrophic for them as well because the whole global economy would implode in a contagious domino act to break down the entire financial and economic chain.
A speech interesting, but long, should be reserved the rating agencies that, with their often inappropriate advances on the possible downgrade of sovereign bonds in open markets, they create real sconquassi stock is on securities that the Forex.
The seriousness of the proceedings, rather than relying on the anticipation of possible premature evaluation should be based on actual knowledge of plans to support or rescue central banks, the IMF and the governments concerned were underway.
Therefore, it is obvious that there is a close connection, although perhaps unintentional, between speculation and anticipation of possible future proceedings before the final preparation of action plans.
long speech similar to the policy that should be reserved from the beginning of this financial crisis is not only always been on the run and late in the decisions, but also unable to predict the developments despite the macroeconomic data always at hand.
It first happened with subprime mortgages and many banks, then Greece, then with the smaller countries of Central Europe and now with Ireland, letting the situation fester before taking action and wasting precious resources such large so that the individual countries of the EU market capitalization.
policy Merkel wavers between economics and ignore the face domestic political pressures due to high costs to support the '€.
costs inevitably increase the deficit and debt without a clear vision of what will be, bringing with him, inevitably, increasing the tax burden and removing the tough economy sap Teutonic.
The collapse of '€ due to the default of some member states, although smaller, also drag the thriving German industry into the abyss.
So you are looking for alternative ways, based on strict budgets, to avert the impending danger, or, in extrema ratio, divide the EU into two blocks at different speeds and economic risk, composed by a strong nations (headed by Germany) and the other by weaker nations (headed by Italy). However, this would practically destroy the unity of EU solidarity and deny the principles that dictate its constitution.
to establish common rules, there is new, however, governments need granite and numerically strong in the various states, and therefore capable of imposing them to a rigorous economic policy of cuts and reduction of social status at all, which the social discontent due to the shaky economy makes it almost impossible to achieve.
To balance the reduction of the social needs in any case, the redistribution of wealth, thus linking the capital to the area and placing them at the service of the guarantee of future investment, employment and productivity. Something very unpleasant for the multinationals.
Unfortunately in Europe we can say that votes nearly every week, and this is a great evil because it gives political instability in the system.
If you then add that many states base their political structure on a proportional party fragmentation, well then you understand that often the majority in the coalition government to become hostage to the minority, although this may have support from area code.
And what is also apparent in a bipolar system, like the Italian one, is going on with the constant ups and downs and whining of Fini. Just imagine what would happen with a sharp return to the proportional or a bipolar system based on the armed Brancaleone.
The real rules (science) economic and financial affairs are not many even today and are based primarily on give and on the ' have . And when you give much greater than it is obvious that the imbalance creates irremediable damage for centuries, because it involves also the generations to come for work squandered by our ancestors.
virtual currency and economy based on massive sovereign debt, it should be against the same economic insights of Keynes and are, in practice, the very negation of the results.
However central banks and states continue to follow this path undeterred by creating more debt inevitably further inflating the money supply and bow down to the high cost economies will require.
in the EU Maastricht Treaty established a maximum cost overrun of GDP, whereas it is the only factor capable of measuring the economy of individual states, but this was a serious mistake which should be promptly corrected.
consider only the growth of GDP as a useful resource to boost the economy, basing the amount of economic growth as a positive development, is one of the biggest mistakes that can be practiced for decades and that today are perpetuating.
The economy, in fact, grows in a healthy way when the profits generated by increased domestic production is used in part to boost investment, and partly to cover their debts, but, as seen looking the current state budgets, the economy remains weak and sovereign debt continues to increase.
Zapatero in Spain, while antagonizing various social strata, has already begun to reduce, although only 5%, the salaries of state. In Italy, with work Brunetta, has worked in otherwise trying to reduce absenteeism and increase productivity while reducing staff gradually and inexorably.
In Greece, in the presence of a budget disaster and bankruptcy, have made draconian remedies, however, creating discontent and riots in the streets, the road that inevitably will now be undertaken even by ' Ireland.
However, these initiatives seem to be too soft in resolving the serious economic and financial problems, both to reduce sovereign debt promptly.
Per ammodernare gli impianti strutturali e anche costituzionali di uno stato servono ingenti capitali, nuove idee e valide risorse di capitale umano.
Immettere nel Trattato di Maastricht anche un limite alla migrazione di capitale selvaggio, vincolandolo perciò al territorio, sarebbe buona cosa. Diversamente vi potrà essere sì un’Ue politica, ma solo sulla carta essendo totalmente sguarnita di capitale reale, possedendo solo quello virtuale che genera unicamente ulteriore debito.
E il risultato pratico lo si vede ogni giorno nell’economia reale.
Il diagramma dei grafici mobiliari di questi ultimi 2 years continually retraces courses swing increases in rebates, but the two opposing courses have in common between them a continuous reduction of their tails, highlighting what the real economy continues to deteriorate.
Too many companies have weathered the crisis, especially SMEs, but with little public support when non-existent. Now, however, too many are closing or not seeing the utility to invest, nor to convert or continue.
Need a wing beat national and EU level, possibly scrapped those characters who occupy the political scene for decades, only intent on making their interest journeyman.
Of course many of these dialectics to justify their continued turncoat is not lacking, often being dubbed the savior of his country and the constitutional democracy.
Unfortunately, our constitution states that citizens who do not dissociate myself from the program should resign no longer share the commitment in front of the electorate.
And if a popular saying states that only the donkey that never changes, it is true that there are too many donkeys around, kick the people and continue pulling the nation, trusting only in their status of the privileged.
Italy so far has held up thanks to the tenacity of that Tremonti has tightened the cords of spending wisely, discontent and social classes not only opposition but also some ministers are unable to understand the drama of the situation.
If you do not want to end up in a little while Greece and Ireland, setting off an explosive fuse that the EU would not be financially able to defuse, you know that a majority and the opposition are not for immediate and practical govern together, which would demand the impossible, but definitely to marginalize these saboteurs who, with their moves palace destabilises the various parliamentary groups.
Because if one becomes unreliable on the one hand it is obvious that, although they now convenient to the other party, end up destabilizing the whole system, plunged into absolute chaos.