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tu.no - Søker om Tysklandskabel - Teknisk Ukeblad
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Regjeringen har tidligere uttrykt bekymring for at private aktører skal eie en
kabel som kan bli en gullgruve, og at det først og fremst er Statnett som
bør eie slik kritisk infrastruktur.
Student protests in Austria
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The protest began on October 20 with a press conference at the Academy of Fine Arts in Vienna. Students and teachers are demanding “Re-democratization instead of neo-liberal policies” and the “ending of the Bologna process” to standardise higher education throughout the European Union. In particular they oppose the introduction of bachelor’s degree studies at the academy.
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The students’ demands include the abolition of tuition fees, the lifting of entrance restrictions at universities and colleges of further education, more rights for students to influence what happens in higher education, better equipment in all educational establishments, as well as the provision of sufficient and well-paid teaching staff.
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Devastating "Free Market" Reforms Imposed on Serbia
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The economy of Serbia was at one time predominantly based on two forms of public enterprises: socially-owned firms that were worker managed, and larger state-owned companies. The last remaining firms in the former category are scheduled to be completely eliminated by the end of this year, while the latter category will take longer to tackle.
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"the performance of privatized companies is worse than the performance of the sector as a whole," an interesting admission. (2)
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Curious Meeting at Treasury Department « naked capitalism
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My bottom line is that the people we met are very cognitively captured, assuming one can take their remarks at face value. Although they kept stressing all the things that had changed or they were planning to change, the polite pushback from pretty all the attendees was that what Treasury thought of as major progress was insufficient.
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But the other fact is that these guys are very smooth, very smart, and seemed quite sincere, which made it difficult to discern how much they really did believe and how much of what they said they had to say because they need to defend official policy and maintain confidence.
Eurozine - Do the obvious - George Blecher
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As Volcker remarks, "People say I'm old-fashioned and banks can no longer be separated from nonbank activity. But that argument brought us to where we are today."
More Proof That Chicago School Freemarket Economics Is Nothing More Than Scientology For East Coast Rich Fucks - By Yasha Levine - The eXiled
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It couldn’t have been more obvious that Mulligan would be proven wrong, so totally, obvious-to-anyone-who-reads-Bloomberg-News-or-walks-through-business-districts wrong that it is truly is funny, in a what-the-fuck kind of way.
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But that ain’t where he’s at. Mulligan still enjoys a blogger position at the New York Times, and still spews incoherent freemarket dribble and economic predictions, which proves that for the idiots running this country, it’s all about the “free markets” and the “free pass for whatever fuckup I make, no matter how disastrous the consequences for you!”
New Zealand workers face deepening assault on jobs and conditions
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According to the Engineering, Printing and Manufacturing Union (EPMU), the technicians, who currently earn around $NZ45,000 ($US33,600) a year, would be forced to spend up to $60,000 to buy their own vehicles and equipment and set up limited liability companies.
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They would lose their job security, face additional financial risks and be forced to pay their own insurance and vehicle costs.
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Wall Street's Naked Swindle : Rolling Stone
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The very next day, March 12th, Bear went into free fall. By the
end of the week, the firm had lost virtually all of its cash and
was clinging to promises of state aid; by the weekend, it was being
knocked to its knees by the Fed and the Treasury, and forced at the
barrel of a shotgun to sell itself to JPMorgan Chase (which had
been given $29 billion in public money to marry its
hunchbacked new bride) at the humiliating price of … $2 a
share. Whoever bought those options on March 11th woke up on the
morning of March 17th having made 159 times his money, or roughly
$270 million. -
the boom
that had ballooned both companies to fantastic heights was
basically a counterfeit economy, a mountain of paste that Wall
Street had built to replace the legitimate business it no longer
had. - 15 more annotations...
defmacro - The Universal Law of Leverage
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This is a fairly simple concept, and yet, every day
people start companies with business plans that depend on
cooperation of key suppliers, or outside funding, or a chain
of other highly unlikely events. The reason, I think, is
psychological. People don't want to believe this simple
truth, because it makes things hard. So they go on living
the way they lived, waiting for their big break. -
The second problem, is that most breaks aren't actually
big. They're little, welcome pieces of luck that
occasionally come your way. They help, but they don't
propel you into the sky, they just temporarily help you get
a little higher. The trouble is that once you get one or two
of these, you'll keep designing your business to depend on
more.
The German Left Party and Berlin’s austerity budget
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Nussbaum’s revised budget involves new debts totalling almost €6 billion. In the meantime, the mountain of debt in Berlin has soared to €60 billion.
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Gysi shares responsibility for the social decline of Berlin. In the first weeks of his term in office as economics senator in 2001, he rescued the bankrupt Berlin Bank Company with a €23 billion surety. He then moved to cut the juvenile welfare service budget from €400 million to €230 million. These measures were the opening shots in an orgy of cuts to wages, benefits and social gains in the city—all aimed at bailing out the Berlin Bank Company.
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Asia Times Online :: Asian news and current affairs
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The Financial Times on October 6 noted a disturbing new trend - hedge fund and
other investors are increasingly seeking to invest in physical commodities
themselves, rather than in futures -
The cost to a hedge fund or other financial investor of
holding stocks of a commodity is quite high, normally sufficient to deter
investors from attempting to buy commodities directly. They will only buy
commodities directly if they are afraid that the normal arbitrage mechanisms
between the futures markets and the commodity markets will be overwhelmed by
the volume of demand, - 2 more annotations...
Sarkozy Wants G-20 to Reject "Cult of the Market"
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Sarkozy's "revolution" would still use measures of economic growth and contraction in the analysis of a nation's success. But the definition would be expanded beyond traditional gross domestic product (GDP) models to include measures of well-being and what Sarkozy describes as "the politics of civilization." These include environmental sustainability, the quality of public services and the amount of time citizens of a country have to meet family responsibilities -- which the French leader values as "personal services provided within a family circle." -
Says Stiglitz, "GDP is an attempt to measure one part of what is going on in our society which is market production. It is what I call GDP fetishism to think success in that part is success for the economy and for society."
Asia Times Online :: Asian news and current affairs
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That's a pretty fancy way of saying that basically, the
US and Europe simply cannot consume as much as they did previously and will
have to focus more on production for Asian and emerging markets.
This in turn implies that the earnings of Asian exporters will need to implode
as their ability to turn profits from the sales of minor widgets to the US and
Europe will have to disappear over the near term (one to two years), to be
replaced by gigantic profits of goods to their own consumers over the
medium-long term (anywhere from three to 10 years). -
In other words, any debt issued by entities that have no ability to print their
own currencies - in which hopefully the debt is also denominated - will have to
confront lower revenues entailed by deflation, which is only partially offset
by lower borrowing costs.
Creating Ecosystems for the Planet - and for Profit
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Payment for Ecosystem Services, the idea of compensating land owners for the the beneficial effects of the ecosystems located in those lands, thus aligning economic incentives towards a greater degree of ecosystem conservation.
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The scale of ecological losses the planet is suffering is large enough to make clear the value of creating, besides conserving, ecological wealth, yet we are still in a situation comfortable enough that resources can be dedicated to research and experimentation
Is the Singularity already happening at Goldman Sachs? | h+ Magazine
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She points to Tabb Group estimates that high frequency trading (HFT) accounts for 73% of equities trading volume on U.S. exchanges. Aldridge: “HFT is characterized by fast turnover of capital. Instead of capturing large price changes over extended periods of time, HFT aims to book multiple small gains over short periods of time.”
Technology Review: An Operating System for the Cloud
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In any case, he knew that the task of dislodging Microsoft was bigger than creating a better OS. While others misguidedly focused on the many engineering shortcomings of Windows, Schmidt knew that Microsoft was the leader not for technical reasons but for business ones, such as pricing practices and synergies between its popular office applications and Windows.
Kurt Andersen and Douglas Rushkoff: Part I: Change Observer: Design Observer
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1. People seemed incapable of recognizing that the money they were using was just one kind of money, with very particular biases. -
they seemed completely unaware of how money loaned into existence by a central bank demands that businesses and the economy grow at the rate of interest rather than some connection to supply and demand.
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