Monthly Archives: July 2015

High Tech Guru George Gilder Demolishes A Critical Myth About The Gold Standard

By Ralph Benko

gold-standard-liberty-coinWhat if the gold standard is not an antique but, rather, a “timeless classic” (as termed in a speech by Bundesbank President Jens Weidmann in September 2012)?  High tech guru George Gilder deploys cutting-edge science to show why this is so, based on Shannon information theory. Gilder’s analysis is neither eccentric nor anomalous. The intellectual pedigree of the classical gold standard runs through two of the greatest scientists in history: Continue reading

An Empire Strikes Back: Germany and the Greek Crisis

By George Friedman

georgefriedmanA desperate battle was fought last week. It pitted Germany and Greece against each other. Each country had everything at stake. Based on the deal that was agreed to, Germany forced a Greek capitulation. But it is far from clear that Greece can allow the agreement reached to be implemented, or that it has the national political will to do so. It is also not clear what its options are, especially given that the Greek people had backed Germany into a corner, where its only choice was to risk everything. It was not a good place for Greece to put the Germans. They struck back with vengeance. Continue reading

Reagan Economist Larry Kudlow Reveals The Republicans’ Secret Agenda

by Ralph Benko

GOP_Logo1_svgThe Revelation: “All we want,” said Kudlow, “is for everybody to get richer.” Therein hangs a tale.  And therein, perhaps, hangs the outcome of a presidential race. The Republican Party (much to the astonishment of practically everyone) is composed exclusively of … people. It thus is subject to human nature. It is undeniable that a significant part of the Republican voter base is made up of rich (or at least affluent) people. Rich people (except in California, a parallel universe) vote Republican. So, naturally, Republicans love rich people. And hate the poor. Nothing personal. Poor people vote Democratic. Continue reading

Another iconic Dubai project awarded to Van Oord

logo-vanoordDeveloper Nakheel has appointed Van Oord to deliver the new waterfront of Deira Islands. Deira was constructed by Van Oord between 2005 and 2008. Deira Islands will become a new 15.3 km2 waterfront city in Dubai. Part of the new scope is building a 23.5 km coastline and breakwaters. Continue reading

Beyond the Greek Impasse

By George Friedman

georgefriedmanThe Greek situation — having perhaps outlived the term “crisis,” now that it has taken so long to unfold — appears to have finally reached its terminal point. This is, of course, an illusion: It has been at its terminal point for a long time. The terminal point is the juncture where neither the Greeks nor the Germans can make any more concessions. In Greece itself, the terminal point is long past. Unemployment is at 26 percent, and more than 50 percent of youths under 25 are unemployed. Slashed wages, particularly in the state sector, affecting professions including physicians and engineers, have led to massive underemployment. Meanwhile, most new economic activity is occurring in the untaxable illegal markets. The Greeks owe money to EU institutions and the International Monetary Fund, all of which acquired bad Greek debts from banks that initially lent funds to Greece in order to stabilize its banking sector. No one ever really thought the Greeks could pay back these loans.

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Jeb Bush And Rand Paul Throw The 2016 Presidential Race Into Overdrive

By Ralph Benko

GOP_Logo1_svgLast month the GOP suddenly awoke. As Michael Tomasky wrote in the March 19 issue of the New York Review of Books:

As matters are shaping up so far, the sense of many people I speak to is that the election appears destined to be about the condition of the middle class, the issue of wage stagnation, and the recognition (finally) that the American economy has been working far better for those at the top than for those in the middle or, obviously, on the bottom.

Tomasky is dead right. Those of us committed to equitable prosperity have been impatiently waiting for the GOP to seize on (and own) its destiny. At last, thanks to Bush and Paul, the GOP emerges from its lethargy. Continue reading