Some people who read this blog will see the above as proof that I’m a lefty all in favor of big EU centralized government, to save them the trouble of baaing furiously at me for again demonstrating all my leftyism, I’m all in favor of the EU being dissolved, and can see a few similar anti-bureaucratic reasons for something similar happening to the federal US.
So the UK wants to leave the EU? I didn’t know they were in the EU to begin with. I mean they aren’t part of the Schengen area, nor the Eurozone.
Even Switzerland and Norway, which are not EU members, are part of the Schengen area.
Is it because the UK is part of the EU Customs Union that they are considered as an EU member? Turkey is part of the EU Customs Union as well and is not a EU member. What’s in a name tag anyway?
I don’t like the way the EU is currently heading either but without a large political and economic block it will be impossible to compete against China or Russia. The alternative is to be annexed piece by piece. Sure the current EU leadership sucks but it ain’t going to last forever.
Remains to be seen how oil and gas export countries like the UK, Netherlands, and Norway will fare now that the oil price has dropped like a rock. Does the UK even do any other economic activity besides playing with other people’s money in the stock market?
If they leave the EU even that will leave the UK for some other place either in Germany or France.
The much more important news than this non-news is that the ECB has started running the printing presses to stop deflation. It should help both boost exports and the tourism sector. That plus the lower oil prices and even the EU should get out of the recession next year. If the oil price doesn’t get back up anyway.
The major problem of the EU is still the energy trade deficit.
The major problem of the EU is there’s still major disparities between countries, and instead of just standardising legislation and then letting the market sort out these issues the politicians have been allowed to jump in and f it all up.
In case you did not notice the UK wants to leave the EU because they don’t like standardized legislation…
Opening up trade to Asia had different impacts across Europe. The so called peripheral economies were hit the hardest by Asian competition while the central economies had a vested financial interested in it because they wanted to sell high-tech products to Asia.
A large part of their economies relied in light industry like clothing and apparel. The high-tech market still has substantial trade barriers so countries like Germany actually still enjoy a certain degree of economic protectionism. Eventually their economies will evolve and adjust to the Asian competition. That is something that will probably take another decade to come through.
If you think the US economy is not subject to regional effects wait and watch what will happen to the Dakotas by the end of the year.
In case you did not notice the UK wants to leave the EU because they don’t like standardized legislation…
You’re right, but I was thinking in terms of economic legislation, the Europeans would be better off with just a Europe wide free trade agreement.
That is debatable. In my opinion the problems started because of the free trade agreement being tilted to begin with. The euro had little or nothing do with it. It may have made the recovery slightly harder because of lack of liquidity but the banking crisis had nothing to do with the euro. The crisis happened everywhere around the world and did not even start inside the Eurozone.
It should help both boost exports and the tourism sector
When has that ever worked? Japan is in year 25 and still trying. We’ve been doing it for 6 years to no avail. The only we get out of printing money is to lend to those with access to the money for their own personal gain.
Japan’s economy was recovering until the earthquake/tsunami hit and they shut down their nuclear power plants at a time when coal prices were at all time highs.
Contrary to what some people think Japan’s GDP/capita grew until 1995 when the Kobe earthquake hit. So it is not year 25. They started to lose their competitive edge once they got competition from South Korea and China, among others, they had plans to leapfrog the US in semiconductor manufacturing and aerospace to continue growing but they never succeeded at it.
South Korea took up a large chunk of the semiconductor manufacturing market followed by Taiwan and the Japanese companies never managed to out compete them. At the same time they lost a large chunk of the consumer electronics market to those countries. As for aerospace the technological barriers were too large and their internal market too small to bootstrap that industry properly. Only EADS managed to compete with the US aerospace industry properly. Japan has some interesting recent aerospace projects but they are all funded by the military and Japan has not had a good track record as a weapons export nation.
Japan has a much smaller population than the USA so expecting them to have vastly larger GDP while they also have less natural resources was always a pipe dream or nightmare to some people.
Japan’s economy was recovering until the earthquake/tsunami hit and they shut down their nuclear power plants at a time when coal prices were at all time highs.
No, you are very wrong. Show me how it was recovering. You’ve just provided excuses. Keynesians seem to be fond of saying that recovery is just around the corner.
Public and private debt should get erased more easily as the euro loses value. They should have done this a long time ago.
That doesn’t happen. Japan is now in debt over 200 percent of GDP.
Poulsen said we could inflate our way out of the deficit. Now the cost of living has increased.
Japan’s debt is mostly internal so it does not matter. Their main issue is their energy trade balance as usual. Now that commodities prices, including fuel, have been coming down their economy should get a boost a result. Their other issue is they are being competed out of their markets e.g. in consumer electronics and the only growth segment I see in Japan is the entertainment sector.
As for the US if the Fed prints more money and salaries rise the internal debt evaporates. The problem that exists right now is that the money they printed is not circulating so there’s actually a higher risk of deflation than inflation.
Ever noticed that despite all that Fed money printing the USD actually gained value against the Euro and other world currencies? The Fed printed the money but it isn’t getting into the world financial system. It’s still sitting at the Fed.
Japan’s debt is mostly internal? What does that mean? They’ve spent themselves into 200 percent of GDP. Internal or External is irrelevant.
As for the US if the Fed prints more money and salaries rise the internal debt evaporates. The problem that exists right now is that the money they printed is not circulating so there’s actually a higher risk of deflation than inflation.
It’s not circulating because nobody wants it. Ever notice how the amount of credit in the country collapsed after 2008? That’s because credit outweighs money printing. And you may not have noticed how prices are climbing. The effect of printing money is that we have inflation. High or low, it does not help the poor and middle class. Incomes don’t automatically rise with printing money.
Seriously, study the Austrians for a non central bank pat answer.
It’s one of those polls that’s not worth a damn, crap methodology, organized by politicians, all designed as a way to push a political agenda.
This one from last Octber is from Ipsos MORI, the second largest market research organisation in the United Kingdom, is probably more accurate:
http://www.dailymail.co.uk/news/article-2803377/Support-staying-European-Union-surges-23-year-high-thanks-rise-Ukip.html
Some people who read this blog will see the above as proof that I’m a lefty all in favor of big EU centralized government, to save them the trouble of baaing furiously at me for again demonstrating all my leftyism, I’m all in favor of the EU being dissolved, and can see a few similar anti-bureaucratic reasons for something similar happening to the federal US.
So the UK wants to leave the EU? I didn’t know they were in the EU to begin with. I mean they aren’t part of the Schengen area, nor the Eurozone.
Even Switzerland and Norway, which are not EU members, are part of the Schengen area.
Is it because the UK is part of the EU Customs Union that they are considered as an EU member? Turkey is part of the EU Customs Union as well and is not a EU member. What’s in a name tag anyway?
I don’t like the way the EU is currently heading either but without a large political and economic block it will be impossible to compete against China or Russia. The alternative is to be annexed piece by piece. Sure the current EU leadership sucks but it ain’t going to last forever.
Remains to be seen how oil and gas export countries like the UK, Netherlands, and Norway will fare now that the oil price has dropped like a rock. Does the UK even do any other economic activity besides playing with other people’s money in the stock market?
If they leave the EU even that will leave the UK for some other place either in Germany or France.
The much more important news than this non-news is that the ECB has started running the printing presses to stop deflation. It should help both boost exports and the tourism sector. That plus the lower oil prices and even the EU should get out of the recession next year. If the oil price doesn’t get back up anyway.
The major problem of the EU is still the energy trade deficit.
The major problem of the EU is there’s still major disparities between countries, and instead of just standardising legislation and then letting the market sort out these issues the politicians have been allowed to jump in and f it all up.
In case you did not notice the UK wants to leave the EU because they don’t like standardized legislation…
Opening up trade to Asia had different impacts across Europe. The so called peripheral economies were hit the hardest by Asian competition while the central economies had a vested financial interested in it because they wanted to sell high-tech products to Asia.
A large part of their economies relied in light industry like clothing and apparel. The high-tech market still has substantial trade barriers so countries like Germany actually still enjoy a certain degree of economic protectionism. Eventually their economies will evolve and adjust to the Asian competition. That is something that will probably take another decade to come through.
If you think the US economy is not subject to regional effects wait and watch what will happen to the Dakotas by the end of the year.
In case you did not notice the UK wants to leave the EU because they don’t like standardized legislation…
You’re right, but I was thinking in terms of economic legislation, the Europeans would be better off with just a Europe wide free trade agreement.
That is debatable. In my opinion the problems started because of the free trade agreement being tilted to begin with. The euro had little or nothing do with it. It may have made the recovery slightly harder because of lack of liquidity but the banking crisis had nothing to do with the euro. The crisis happened everywhere around the world and did not even start inside the Eurozone.
It should help both boost exports and the tourism sector
When has that ever worked? Japan is in year 25 and still trying. We’ve been doing it for 6 years to no avail. The only we get out of printing money is to lend to those with access to the money for their own personal gain.
Japan’s economy was recovering until the earthquake/tsunami hit and they shut down their nuclear power plants at a time when coal prices were at all time highs.
Contrary to what some people think Japan’s GDP/capita grew until 1995 when the Kobe earthquake hit. So it is not year 25. They started to lose their competitive edge once they got competition from South Korea and China, among others, they had plans to leapfrog the US in semiconductor manufacturing and aerospace to continue growing but they never succeeded at it.
South Korea took up a large chunk of the semiconductor manufacturing market followed by Taiwan and the Japanese companies never managed to out compete them. At the same time they lost a large chunk of the consumer electronics market to those countries. As for aerospace the technological barriers were too large and their internal market too small to bootstrap that industry properly. Only EADS managed to compete with the US aerospace industry properly. Japan has some interesting recent aerospace projects but they are all funded by the military and Japan has not had a good track record as a weapons export nation.
Japan has a much smaller population than the USA so expecting them to have vastly larger GDP while they also have less natural resources was always a pipe dream or nightmare to some people.
Japan’s economy was recovering until the earthquake/tsunami hit and they shut down their nuclear power plants at a time when coal prices were at all time highs.
No, you are very wrong. Show me how it was recovering. You’ve just provided excuses. Keynesians seem to be fond of saying that recovery is just around the corner.
Public and private debt should get erased more easily as the euro loses value. They should have done this a long time ago.
That doesn’t happen. Japan is now in debt over 200 percent of GDP.
Poulsen said we could inflate our way out of the deficit. Now the cost of living has increased.
Japan’s debt is mostly internal so it does not matter. Their main issue is their energy trade balance as usual. Now that commodities prices, including fuel, have been coming down their economy should get a boost a result. Their other issue is they are being competed out of their markets e.g. in consumer electronics and the only growth segment I see in Japan is the entertainment sector.
As for the US if the Fed prints more money and salaries rise the internal debt evaporates. The problem that exists right now is that the money they printed is not circulating so there’s actually a higher risk of deflation than inflation.
Ever noticed that despite all that Fed money printing the USD actually gained value against the Euro and other world currencies? The Fed printed the money but it isn’t getting into the world financial system. It’s still sitting at the Fed.
Japan’s debt is mostly internal? What does that mean? They’ve spent themselves into 200 percent of GDP. Internal or External is irrelevant.
As for the US if the Fed prints more money and salaries rise the internal debt evaporates. The problem that exists right now is that the money they printed is not circulating so there’s actually a higher risk of deflation than inflation.
It’s not circulating because nobody wants it. Ever notice how the amount of credit in the country collapsed after 2008? That’s because credit outweighs money printing. And you may not have noticed how prices are climbing. The effect of printing money is that we have inflation. High or low, it does not help the poor and middle class. Incomes don’t automatically rise with printing money.
Seriously, study the Austrians for a non central bank pat answer.