The financial crisis seems to be over. The national debt, which they bequeathed to us are considerable. The most significant long-term consequence, however, we may not be financial, but institutional. The conviction of a greater generality, that the invisible hand of self-interest, which will take effect on markets, the visible hand of government action may prove to be superior, is shaken. Readmore…
The pressure on the Chinese dollar peg has once again become stronger. U.S. Treasury Secretary Geithner has postponed the report on the economic and monetary policies of trading partners, China is classified as a “currency manipulator”, though. But is the ultimatum. Not later than June to the G20 meeting on multilateral level, the breakthrough to more exchange rate flexibility, ie Yuan revaluation will bring. Readmore…
“The idea that state intervention were a 'solution' to economic problems, causes in each country, states that at least most unsatisfactory and are often downright messy. If the state is not time to cease such actions inevitably lead to socialism. “Ludwig von Mises noted in 1959 in Buenos Aires during his lecture” interventionism. Readmore…
The euro zone finance ministers agreed on Sunday that Greece is in the event of a fall in the first year will receive a three-year loan of up to 30 billion euro at a rate of about 5 percent. Finance Minister Schäuble agreed. The decision is inconsistent with the Declaration of the Heads of State and Government on 25 March. Readmore…
“By a continuing process of inflation, government can confiscate, secretly and unobserved, in important part of the wealth of their citizens” A specter is haunting the developed world, the specter of inflation. The surprise, at least at first glance. On the price front for goods and services anywhere there is inflationary alarm. Readmore…
Bundesliga produces an entertainment service that is valued by consumers is very high, as demonstrated by the number of spectators in the stadium and the spectators in front of the television. While substitutes exist in the consumer sector, but in particular the attractiveness of other German professional sports leagues or foreign football leagues seem to be rather small for the German audience. Readmore…
End of last year it had already appeared as the subsidization of the German Opel plants is off the table. In an unprecedented openness of parent company General Motors had tried to play the governments of the countries in which Opel and Vauxhall are present, against each other to get the highest possible state subsidies to its restructuring program. Readmore…
Implied by the introduction of the euro elimination of nominal exchange rates within the euro zone is still – despite the crisis in Greece – praised diverse. The highest eulogy refers to the single currency as the guarantor of peace in Europe: “We need a common European currency, because countries with a common currency never to wage war against each other. Readmore…
Cheeky As Gregory of Montelongo probably no one else has been. Of course there were also others not with celibacy taken as accurate. Henry Bishop of Basel, for example, left at his death in 1238 20 children, my colleague Henry of Liege, who died in 1281, should it have been even 61st Gregory of Monte Longo, however, apparently inclined to humor, sat down on the law of celibacy, Pope away a very special way. Readmore…
Professor Paqué was the reunion a success or is it a failure?Paqué:The reunion was a partial success. What was achieved has been achieved. That which could not be reached, has not been reached. The problem in the public eye were much too high expectations.Had it An alternative to the chosen origin of a united Germany, where?Paqué:From a purely economic perspective, it would have taken place after the fall of the wall entirely. Readmore…