Archive for ‘news from the world’

June 25, 2014

CEO-to-worker compensation ratio, USA 1965 – 2013

There’s an amazing increasing difference between both, obviously. And the tendency is also clear, so the question in this case is: what can average people do to reverse this unfair situation?

Real-World Economics Review Blog

from David Ruccio


In charting the amount of the surplus that ends up in the hands (or, if you prefer, pockets or bank accounts) of CEOs, the Economic Policy Institute finds that: 

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June 20, 2014

The British recovery. No conundrum there… (4 graphs)

and probably it will never recover, that is what you get when you take all jobs and all investments to Southeast Asia

Real-World Economics Review Blog

The British economy has not yet recovered in any meaningful sense of the word. Production per capita is not back to historical levels, private debts are still sky-high, the number of crappy jobs is increasing and productivity is about 7 to 8% below ‘trend’ (a downward adjusted trend, that is), which is of course consistent with the increase of crappy jobs. Also, according to the PSE

The percentage of households who fall below society’s minimum standard of living has increased from 14 per cent to 33 per cent over the last 30 years, despite the size of the economy doubling. This is one of the stark findings from the largest study of poverty and deprivation ever conducted in the UK. Other key figures reveal that almost 18 million people cannot afford adequate housing conditions; 12 million people are too poor to engage in common social activities; one in three people…

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June 20, 2014

China arrasa la economía global

  Toda la inversión occidental se ha desplazado en las últimas 2 décadas al sudeste asiático, no es de extrañar que eso haya terminado aupando a China a la cabeza de muchos indicadores macroeconómicos. Habría que ver qué porcentaje de la población china se está beneficiando de esa situación, teniendo en cuenta que en China se dan la mano la peor perversión del comunismo y el capitalismo de toda la historia conocida

June 9, 2014

Basque human chain for democracy : another victory for peace

   Tens of thousands of people have joined hands to form a human chain 123 kilometres (76 miles) long in support of democracy and against spanish occupation of the southern basque country. The organizers of  ‘Gure Esku Dago’ (It’s in our hands) initially said that around 50,000 people would be just enough to cover the distance of 123 km. But the turnout went beyond expectations with some reports indicating that more than 150,000 people eventually took part in the campaign.  Demonstrators draped in red-white-and-green Basque flags raised their linked hands as helicopters flew over the line stretching from the city of Durango to Iruña/Pamplona some 76 miles away, crossing the four basque historical territories at the South of the country under Spanish occupation. TV images show how people began to link up at noon Sunday forming a continuous line along a road linking all the southern basque cities:

  A long economic crisis and political corruption scandals have triggered broad public disenchantment with key institutions that anchor the so called “Spain’s democracy”, formed in the 1970s after a long dictatorship. Support for the Spanish nationalists parties, once-dominant in a few basque cities, (the Spanish Socialists and Spanish centre-right People’s Party), has fallen dramatically in , independence movements are resurging again stronger than ever in Catalonia and the Basque Country, and on Saturday thousands marched in Madrid and other cities calling for the abolition of the monarchy that was reinstated in 1975 by Franco’s fascist regime. That same day, while the Spanish institutional mafia was celebrating the day of their gunmen with shots and hails to violence and war, a peacefull army of thousands and thousands of unarmed and democratic basque soldiers won another battle versus Spanish barbarism:

In recent years basque leaders negotiated more tax independence from Spain. Armed pro-independency group ETA, declared unilaterally an end to its armed struggle in 2011 to carve out an independent Basque state from the basque parts of northern Spain and southern France that are now occupied by both states. In 2005 after decades of war, the Spanish parliament rejected a plan for Basque self-determination without even taking it into consideration: any form of democracy in the Basque Country is totally forbidden if that leads to independence from Spain. Basques are only allowed to vote what the Spanish regime let them, nothing more.The Spanish government also rejected recently a proposal on plans for Catalonia to hold a referendum on independence from Spain, telling all catalans and basque citizens that there is no democratic way of leaving Spain behind, only the way used by: Puerto Rico, Colombia, Guinea, Philippines, Netherlands, Portugal, Panama, Sahara, Argentina, Mexico, Gibraltar, Ecuador, Cuba, Costa Rica… all of them countries that once were under Spanish occupation, but they manage to become free. Which way they took? That’s what catalan and basque citizens fighting for democracy should now discover.

June 9, 2014

Expect rather stable consumer price inflation – but not because of succesful central bank management

an amazing article about the evolution of inflation in EEUU, among other things, and its influence in european economy, including a coment about Woodford’s theories and their influence in the sub-prime bubble.

Real-World Economics Review Blog

In 1910 the index of the USA consumer price level (1982-1984 = 10,000) was equal to 921, not too much above the 1774 level of 782. This seems to indicate very low and stable consumer price inflation in this gold-standard period – until we notice that the 1778 level was equal to 1338, almost double the 1774 level (the American revolutionary war lasted, of course, from 1775 till 1783). Sustained high inflation was not uncommon during the gold standard period, especially during times of war (graph 1, which shows Year on Year changes of the consumer price level as well as a five-year moving average), though there were often also large differences between subsequent years. Collateral information: notice that in the twentieth century, high inflation continued for one or two years after mayor wars. After these bouts of inflation, however, there was some kind of reverse to the mean and…

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June 8, 2014

La NSA utiliza 33 países para interceptar el tráfico de Internet

El que el regimen español haya actuado de palanganero del terrorismo americano vendiendo de mala manera los datos de sus ciudadanos es algo inadmisible, independientemente de que la audiencia nacional haya cerrado la causa (cosa que ya se veía venir antes de abrirla). Y digo yo, ¿la situación es recíproca? ¿Podemos los ciudadanos europeos espiar y almacenar datos personales de empresas, ciudadanos y políticos americanos?

June 8, 2014

Basque Country: more than 100.000 people in a human chain for democracy and against spanish menaces

Gure Esku Dago (It’s in our hands) is a movement in favor of democracy (aka “the right to decide”) in the Basque Country.Their main goal is to achieve citizen support for the Basques’ right to decide. The movement is all-inclusive, as it extends to everybody its invitation to participate.

The group stands on three basic ideas:

1. The Basque Country is a nation
2. Basques have a right to decide
3. The future is in the hands of the citizens of the Basque Country

The tenets of the initiative are based on the certainty that the lack of this right is the origin of the political conflict in the Basque Country and that it is a pre-politic claim, to create a democratic base that has always been a part of the political and social agenda of the country.

 Twitter hashtags:



Among the activities supported is a Human Chain that will connect Durango to Iruña/Pamplona today Sunday June 8th


June 8, 2014

Increasing self-employment is, alas, not the answer

less than a year ago,the definition of PYME (small & medium companies) in Spain was less than 50 employees…nowadays is less than 250 employees…you can imagine how many big corporations do we have in Spain: only a few of them, because most companies have 249 employees or less, with all financial benefits included in being PYME

Real-World Economics Review Blog

One of the marked characteristics of the last 150 years of economic development is the rise of the large firm. In the days of Adam Smith, a company with 10 employees was already quite large. Toady, a company like Foxconn, which assembles your Iphone, has (about) 1,6 million employees, Walmart has 2,1 million and McDonalds has 1,9 million. Together, the last two companies have more employees than the USA army. A ‘Coasian’ view of this development is that, for some reason or another, large bureaucratic planning systems enable firms to profit from economics of scale (branding, outsizing unions, production) in increasingly global markets characterized by increasing commoditization. Consistent with the rise of these mega-companies, high numbers of ‘self-employed’ seem to characterize economies with relatively low levels of income.

In the European Union, increasing the number ‘self-employed’ is often seen as a method to make labour markets more flexible and…

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June 5, 2014

Catalan leader Pujol defends shift in favour of independence

That’s what he should have done when he was in the Government, not supporting the Spanish regime

Americans For Catalonia

Article published at Global Post – June 1st.

Jordi Pujol, long-time former President of Catalonia: “I’ve always been anti-independence, for 60 or more years of my life. And now at the end of it all I see that the conditions in which they want us to live in the Spanish state do not allow us to maintain our identity.” 

For decades Jordi Pujol was the foremost champion of Catalan nationalism, who boosted the powers of the region even as he argued it should remain a part of Spain.

Now the former head of the regional government of Catalonia campaigns vigorously for outright independence, mirroring a shift in mood in the northeastern region of Spain.

“I’ve always been anti-independence, for 60 or more years of my life. And now at the end of it all I see that the conditions in which they want us to live in the Spanish state…

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May 29, 2014

Madrid lost the Olympics bid for attacking Gibraltar

If you carry on with these border queues we will make sure you don’t get the Olympic Games” said PM David Cameron to the head of the Spanish Regime, Mariano Rajoy.

     “The great disappointment“, shouted the front page of El Mundo newspaper, while ABC said “Goodbye to the Olympic dream“. Madrid came in a surprising third place behind Istanbul and winners Tokyo despite being tipped as the favourite in the lead-up to the bid last September. During Madrid’s final presentation in Buenos Aires, Spanish Olympic Committee President Alejandro Blanco fielded a set of difficult questions from British IOC delegate Adam Pengilly, according to online sports website Inside the Games. The day before the host city election, thousands of Spaniards filled the streets around the Puerta de Alcalá in the heart of Madrid, high on the hopes of victory, with big screens expected to beam in good news from Buenos Aires. But the party atmosphere dampened as the rain started to fall, with Madrid unceremoniously booted out in the first round, silencing the crowd, and sending them home, or to drown their sorrows.

   British Member of the European Parliament Sir Graham Watson, a Liberal Democrat, reportedly told the Gibraltar Broadcasting Corporation: “Indeed I am told that PM (David) Cameron actually said to the Spanish Prime Minister (Mariano Rajoy), ‘If you carry on with these border queues we will make sure you don’t get the Olympic Games.” But a spokesperson for David Cameron’s government has dismissed Watson’s comments, claiming the UK “did not favour any of the three finalists over others, and there was absolutely no UK attempt to influence any of the bids“.

   Tensions between the UK and Spain flared in July 2013 when the Spanish Regime, trying to create a smokescreen to divert attention from its economic problems, started a fear campaign against the people of Gibraltar and surrounding area, with military incursions in Gibraltar territorial waters by the Spanish Guardia Civil, one of the many militarized forces that supported the fascist General Franco’s regime.