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New York Times (April 19)

2011/ 04/ 20 by jd in Global News

S&P lowered the outlook for the credit rating of the United States. Credit rating agencies are suspect—anything they “say has to be taken with a block of salt.” Still, this latest move by S&P may be a good thing. The downgrade should focus the minds of the Government on determining a sustainable budget. While the ratings agencies “squandered their credibility” leading up to the sub-prime crisis, S&P did well this time in sending a powerful warning.S&P lowered the outlook for the credit rating of the United States. Credit rating agencies are suspect—anything they “say has to be taken with a block of salt.” Still, this latest move by S&P may be a good thing. The downgrade should focus the minds of the Government on determining a sustainable budget. While the ratings agencies “squandered their credibility” leading up to the sub-prime crisis, S&P did well this time in sending a powerful warning.

 

Financial Times (April 17)

2011/ 04/ 19 by jd in Global News

To close its budget shortfall, America needs to tackle tax reform. Tax simplification could eliminate “the lunatic complexity of the US tax code” and provide a “free lunch” to a nation stretched for dollars. “Gradually eliminating tax exemptions for mortgage interest, employer-provided healthcare, and myriad other expenditures…would raise so much money that tax rates could be deeply cut even as revenues were increased.”

 

Washington Post (April 15)

2011/ 04/ 17 by jd in Global News

Prime Minister Naoto Kan writes thanking the U.S., other governments, NGOs and private citizens for their acts of kindness as Japan recovers from the Great East Japan Earthquake. With over 28,000 dead or missing, Kan’s current “top priority” is bringing the Fukushima Daiichi nuclear situation “under control at the earliest possible date.” Though struck by a staggering earthquake, tsunami and nuclear catastrophe, Kan believes “this difficult period will provide us with a precious window of opportunity to secure the ‘Rebirth of Japan.’”

 

Economist (April 14)

2011/ 04/ 15 by jd in Global News

India should promote foreign direct investment (FDI). Restrictions barring or limiting foreign investment in certain industries are the main barrier. Railways, legal services, insurance and domestic airlines are areas where foreign investment is unnecessarily restricted. “Given the huge benefits that liberalisation could bring to India’s 1.2 billion people, the government should pluck up courage and fling wide the gates.”

 

Institutional Investor (April 12)

2011/ 04/ 14 by jd in Global News

“A silver lining was not what anyone expected to find in the radioactive cloud that fanned out from Japan’s Fukushima Daiichi nuclear plant following March 11’s devastating earthquake and tsunami.” Nevertheless, Institutional Investor believes ”the catastrophe may have been the catalyst the country needed to galvanize its stagnant economy and escape from decades of deflation.”

 

The Independent (April 11)

2011/ 04/ 13 by jd in Global News

Starting today, women in France may no longer wear burka or other facial coverings in public. The “burka ban,” passed last October by the French Parliament, was “seen as a defence of women’s rights and a re-statement of the liberal and secular traditions of French society.” There is, however, concern that the law might lead to unrest. Some have called it Muslim baiting. Officials are taking steps to minimize conflict. Police have been ordered not to force women to remove their coverings, but rather to forward cases to the state prosecutor. A woman may be fined €150 for wearing a burka or other facial veil.

Starting today, women in France may no longer wear burka or other facial coverings in public. The “burka ban,” passed last October by the French Parliament, was “seen as a defence of women’s rights and a re-statement of the liberal and secular traditions of French society.” There is, however, concern that the law might lead to unrest. Some have called it Muslim baiting. Officials are taking steps to minimize conflict. Police have been ordered not to force women to remove their coverings, but rather to forward cases to the state prosecutor. A woman may be fined €150 for wearing a burka or other facial veil.

 

New York Times (April 10)

2011/ 04/ 12 by jd in Global News

“Time is running out” for bluefin tuna, but an ingenious new hook may provide some relief. Commercial fisherman in the Gulf of Mexico, where the catch of bluefin is illegal, will now be required to use thinner hooks. The hooks still support yellowfin tuna and swordfish, but give way under the massive weight of a bluefin, thus preventing inadvertent bluefin catches. In just the last decade, the number of bluefin in the Atlantic and Mediterranean fell by over 60%. The New York Times lays the blame for the dwindling bluefin population on “vast overfishing fueled by Japan’s insatiable sushi appetite” and advocates a worldwide ban on the sale of bluefin to help stocks recover.

 

The Guardian (April 10)

2011/ 04/ 12 by jd in Global News

CO2 emissions grab most the attention, but a study by the European Nitrogen Assessment indicates “nitrogen pollution costs every person in Europe €650 a year in damage to water, climate, health and wildlife.” Some of this damage comes from nitrogen used as fertilizer, but approximately “60% of the costs of nitrogen damage stem from fossil fuels burned for energy generation and transport.”

 

The Wall Street Journal (April 8)

2011/ 04/ 11 by jd in Global News

Many have forgotten the “Lisbon Irony.” The 2000 EU summit was held in Portugal where European leaders unveiled the Lisbon Agenda “to transform the European economy into the world’s most ‘competitive and dynamic’ by 2010.” Instead, Portugal is now asking the EU and the IMF for a bailout. As the Journal notes, the Lisbon Agenda “didn’t turn out that way, least of all for Portugal.”

Many have forgotten the “Lisbon Irony.” The 2000 EU summit was held in Portugal where European leaders unveiled the Lisbon Agenda “to transform the European economy into the world’s most ‘competitive and dynamic’ by 2010.” Instead, Portugal is now asking the EU and the IMF for a bailout. As the Journal notes, the Lisbon Agenda “didn’t turn out that way, least of all for Portugal.”

 

The Economist (April 7)

2011/ 04/ 10 by jd in Global News

“This painful truth is no longer news in the rich world, and many governments have started to deal with the ageing problem.” But the official retirement age will have to rise much more than is being discussed. “Older people are going to have to stay economically active longer than governments currently envisage.”

“This painful truth is no longer news in the rich world, and many governments have started to deal with the ageing problem.” The official retirement age will have to rise much more than is being discussed. “Older people are going to have to stay economically active longer than governments currently envisage.”

 

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