Tuesday, April 19, 2011

Reading these days... VIII

Lets start with a TERRIBLE question (and an even worse answer):
Is Sugar Toxic?


It didn't get much attention here in Italy the fact that S&P delivered a blow for US debt by lowering the outlook of its debt for the first time in history. And while this could be helpful for Understanding the S&P report and Krugman insists that is not really important and Poor Standards are in play, it's worth nothing that Obama administration officials tried to keep S&P rating at ‘stable’. But why, anyway? Perhaps, as it is suggested, because US account are like Enron Writ Large? Or because, besides the official one, there is in the US The Other National Debt to consider? Or maybe because, quite amazingly, in the US now Government Handouts Top Tax Income?

Not like we in Europe are faring much better, as while Trichet says that ‘All’s Well’, we can see that a battle is going on, the one of Euro vs. Invasion of the Zombie Banks. Bad news for critically hit countries (Greece, Ireland, Portugal... soon others) and some of them might start considering A parable of two debtors. In any case, The ECB Have All the Means to Prevail? Perhaps it would it be worthwhile (or unavoidable) to embark in Europe’s long road of tears to fiscal union (for that matter, EU corporate tax reform: Weighing the pros and cons).

To be noted that US fiscal policies are a factor in Soaring Inflation Poses Risks Beyond China’s Borders. Even if China is doing its own part as, once again, Krugman easily explains in Inflation, Here and There (Wonkish) (I hate his politics, but have to admit when it sticks to his own field the guy knows how to explains things easily). Anyway, we are probably just seeing The great global rebalancing and its implications, but Don’t blame the (mostly) efficient markets hypothesis.

And while we are at it, Is Germany competitive? Is Norway?. If you consider the banking sector (which also gives a pretty good number of answer to many questions about the EU role in the financial crisis), one wouldn't think so: German Banking: visibility needed

It must be to take its collective mind off economic troubles that now the EU awaits UN approval for deployment of ground troops (and unfortunately, Italy went ahead adn already shipped military instructors...). All that while Riots break out in Muslim north Nigeria as Christian Jonathan wins by landslide. But you do not have to go that far to have more problems with islamics, after all as 'London Taliban' is targeting women and gays in bid to impose sharia law

Finally... how I love to be in the eight most taxed countries in the world (and receiving way less services for my tax money than in any of the other most taxed countries, I would bet)

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