August 2011
14 posts
El insoportable error del 0,4% (2)
Es absurdo fijar limites de gasto sin tener en cuenta el resto de la macroeconomía como bien nos señalan Andrew Watt y George Irvin. Nos recuerdan una identidad macroeconómica muy sencilla , donde (S-I) + (T-G) = NX.
S-I se refiere al ahorro del sector privado menos sus inversiones. Si el número es negativo, se está endeudando.
T-G se refiere a lo que el gobierno recauda menos lo que gasta. Si...
Juan Torres López, "Los Trileros Mayores del Reino... →
Juan Torres López ha escrito este artículo imprescindible, donde señala que la clave de la reforma constitucional es el establecimiento de “un nuevo precepto en la Constitución que da “prioridad absoluta” al pago de la deuda y los intereses frente a cualquier otro compromiso de pago del Estado.”
Concluye que la alternativa es una Asamblea Constituyente.
El insoportable error del 0,4%
La reforma de la constitución que se pretende hacer es un error tanto de forma como de fondo. Esta entrada pretende mostrar que limitar el déficit estructural del país al 0,4% mediante una ley orgánica también es una política radicalmente aberrante para una economía avanzada.
Este gráfico muestra el déficit estructural de los países del G-7 desde 1993 e incluye una proyección hasta el 2012.
...
Polly Toynbee, "How sad to live in a society that... →
“The young pay for the financiers’ calamity while my generation keeps its bus pass, winter fuel allowance and hefty state subsidy to pension contributions. If you fall below the new 50% tax rate, apart from a bit more VAT, nothing much has been taken from the likes of us to ease the national crisis. Austerity falls on the young while my generation enjoys the untaxed proceeds of three...
Zygmunt Bauman, "The London Riots – On Consumerism... →
From a phenomenal piece posted over at Social Europe:
“From cradle to coffin we are trained and drilled to treat shops as pharmacies filled with drugs to cure or at least mitigate all illnesses and afflictions of our lives and lives in common. Shops and shopping acquire thereby a fully and truly eschatological dimension. Supermarkets, as George Ritzer famously put it, are our temples; and...
Some links for today
ATTAC España, “Los mercados contra la ciudadanía europea, ¡evitemos la debacle!”
CBPP, “Tax Flight is a Myth”
Kim Ives and Ansel Herz, “Wikileaks Haiti: The Aristide Files” (From the Nation)
Vicenç Navarro, “El Banco Central Europeo no es un banco central: ahí está el problema de la crisis de la deuda pública”
Would the real Harold McGraw III please stand up?
Harold McGraw III is the chairman, president and CEO of The McGraw-Hill Companies, which is the parent company of Standard & Poor’s.
McGraw used to moonlight as the chairman of Business Roundtable, a major business lobby group where he remains involved. In this capacity, he sent a letter to President-elect Obama on January 8, 2009 titled Re: Economic Recovery Guiding Principles and Emergency...
The Onion - Drunken Ben Bernanke Tells Everyone At... →
Customers at the bar told reporters the “shitfaced” and disruptive Bernanke refused to pay for his drinks with U.S. currency, claiming it was “worthless.” Witnesses also confirmed that near the end of the evening, Bernanke put money into the jukebox and selected Dire Straits’ “Money For Nothing” to play five times in a row.
“This is what...
¿Qué está mal en esta fotografía?
This is a translation of my blog post over at Social Europe Journal:
Si los bonos españoles e italianos siguen la trayectoria que ya han tomado los bonos griegos, irlandeses, y portugueses, España e Italia apenas están a pocas semanas de una intervención. El bono a diez años de esos tres países tardó una media de 24 días por encima de un 6% antes de llegar a un 6,5% y una media de 15 días más...
Ryan Avent, "Second time farce: That 30s feeling" →
A terrific post from Free Exchange:
“The European Union, and its single-currency extension, were forged in the decades following the war in an effort to make sure that war never again divided and savaged the continent. But strangely enough, in the effort to tie itself together, Europe imposed some of the same fiscal and monetary constraints that precipitated the collapse of the 1930s. And...
Javier Solana and Daniel Innerarity, "The New... →
“We must learn a new grammar of power in a world that is made up more of the common good – or the common bad – than of self-interest or national interest. These haven’t disappeared, of course, but they are proving to be indefensible outside of a framework capable of addressing common threats and opportunities.”
Juan Cole, "Dear Foreigner-Haters: Immigration is... →
…”Hatred of immigrants is for all these reasons counter-productive. It is another piece of evidence that human beings are perfectly capable of messing things up, big time, just because they entertain funny ideas divorced from reality.”
Elisabeth Guigou, "Europe's Southern Future" →
“Economic crisis has now reached both shores of the Mediterranean, and the risk of a lasting depression has become very real. Austerity policies in Europe threaten to backfire, causing enduring harm to growth prospects and thus stoking unemployment and budget deficits. And southern Mediterranean countries can’t hope to make up in America and Asia the opportunities and investments that they...
