Ben Bernanke and Larry Summers
As the prospect of ending Quantitative Easing dawns over the horizon, the need to frame a new global economic policy fills the screen. Leading the way is Larry Summers, former U.S. Secretary of the Treasury. With a new federal party in power Canada may be moving there already. Continue reading
Canada has modernized its election process and now holds elections every four years, one year ahead of the US Government. Here are some talking points for the 19 October 2015 Federal Election. Continue reading
Dow Jones Industrial Index
Monday 24 august 2015 12:45 pm EST
This morning felt a bit like 9-11-2001 except that I don’t have CNN anymore—I cut the cable in 2010. Back then I was assessing whether the planes were aiming at the weak point in the towers in order to cause maximum structural damage. The lower the hit, the higher the stress created by the dead load left above the point of impact. The analysis was spot on. The first tower to go down was the one hit lowest. Today, QE (quantitative easing) is being stress-tested although no one on the Street appears to notice.
After three consecutive devaluations to the yuan totalling a 4.5% drop in value, today the People’s Bank of China, the central bank, stayed the course. The long view sees this as a small correction in the long march of 1.3 billion-strong population to modernization and prosperity. Yet, the last 12 months have issued clear signals of more trouble ahead.
This post could be titled: “Ending the Middle East Conflict, Breathing Clean Air and Making Livable Cities”.
When cars in Asia, Europe and the Americas convert to electric power the consumption of fossil fuels will plummet; dependence on oil trading will end; and many many long-sought results will be triggered including clean air and the restructuring of local economies. The change will be of a scale as great as the French Revolution (ushering representational government), the Great Depression (restructuring the economy from horse-and-buggy to rubber-oil-and-steel), or the Second World War (implementing air flight, weapons of mass destruction, centralized planning and telecommunications).
The real question of course is whether it has to be as messy the second time around, or whether we can make a major shift in our economy while managing unwanted and unforeseen consequences. Continue reading
The ‘Cheesegrater’ London (Google Images).
The truth about developers: they are exploiting planning authority and ruining our cities.
The Guardian, September 2014
David Harvey HARDtalk at the BBC (2012)