The UK, USA, the PIIGS (Ireland and Italy are together in the same stye), France is in poor fiscal shape – OK, Germany is ostensibly living within its means, but it looks a lot less solvent when you remember that it has underwritten the rest of the euro zone (in large part, to protect its own irresponsible banks). In any case, as I have argued in previous blogs, this or a future German Government is likely to cave in to the pressure from its own electorate and from inflationist economists at home and abroad to join the party and spend, spend, spend. Only Australia and Canada, riding high on the commodities price boom, and a handful of small countries, look stable.
The Great Debate UK
from Africa News blog:
New ways of managing aid are being debated in Britain as global concerns mount over a hunger crisis devastating the drought-affected Horn of Africa.
It was billed as a bloodbath, and it is. By slashing public spending by 81 billion pounds over five years, Britain's coalition government is reversing the big increases of previous years. The plan is billed as necessary pain to secure the country's financial future, but it is also ideological. The aim is to move from unaffordable levels of public employment and welfare to private employment and a balanced budget. The danger, however, is that the economy stalls.
Bob Diamond's promotion to chief executive of Barclays is no surprise. The driving force behind the UK bank's investment banking arm was a candidate for the top job back in 2004, and Barclays Capital's rise since then -- it contributed over 80 percent of the group's pre-tax profit in the first half of 2010 -- made him a shoo-in.
from UK News:
While attending a meeting of prominent climate sceptics during the U.N. Climate Conference in Copenhagen in December (an anti-COP15, if you will), I listened to each of the speakers put forward their theory on why conventional evidence on the primary causes of climate change should be dismissed as, for lack of a better phrase, complete hokum.