America's Capitalism net-worth gap?

US politicians get richer despite recession

Uploaded by AlJazeeraEnglish on 30 Dec 2011 - While many people in the US continue to find it difficult to make ends meet, Washington politicians have a different experience.

Not only have they escaped the worst of the recession, many are getting richer.

Brazil overtakes UK as sixth-largest economy.

Uploaded by AlJazeeraEnglish on 26 Dec 2011 - Brazil has overtaken the UK as the world's sixth largest economy, according to a London-based research centre. The shift is part of a larger trend in which emerging economies are out doing some European countries. The south American country was still considered something of an economic underachiever a decade ago, but as its economy grew steadily in the past eight years, things started to change. Government's anti-poverty measures further helped in lifting more than 40 million people into a new middle class.

China's protection move.

China imposes tariffs on US-built cars

Imported US-built Buick vehicles in China, covered with dust (file photo)

The Chinese Ministry of Commerce says Beijing plans to impose anti-dumping and anti-subsidy tariffs on vehicles imported from the United States.

"US vehicles benefiting from subsidies and dumping on the China market have substantially damaged China's auto industry," the Ministry's statement said on Tuesday. 

According to the statement, China will begin imposing taxes on cars and sports-utility vehicles built in the US with an engine capacity of more than 2.5 liters, from Dec 15, 2011 to Dec 14, 2013. 

The greatest impact of the new Chinese tariffs will be felt by major American car makers General Motors, facing punitive duties of as high as 12.9 percent, and the Chrysler Corporation, facing a tariff rate of 8.8 percent. 

Currently, China imposes tariffs of 25 percent on imported passenger vehicles, Xinhua reported. 

China's move drew immediate criticism from the US government. 

“We are very disappointed in this action by China,” said Carol Guthrie, a spokeswoman for the Office of the United States Trade Representative. “We will be discussing this latest action with both our stakeholders and Congress to determine the best course going forward.”

PressTV: 

Prof Meera IIUM : EU & US financial crisis and the world economy.

Uploaded by enqilab on 12 Dec 2011 - Prof Ahmad Kameel Mydin Meera opening address, before a lecture by Sheik Amran N. Hosein on 10/12/2011 at 9.00 a.m.
Title: 2012 Will the World Economy takes the Greatest Plunge.
Location: Zahedah Hall, Tan Sri Azman Hashim Complex, International Islamic University, Gombak Selangor, Malaysia.


 Full video of the lecture : http://www.youtube.com/watch?hl=en-GB&v=aChgzew_X2s

Key Concept : GDP vs. GNP

Uploaded by etrimnell on 3 Jul 2008 - The difference between GDP (Gross Domestic Product) and GNP (Gross National Product).

Returning To The Basics: money...

I believe that the writer has been using money in context of cash as opposed to the economist conception of M1,M2 and M3.

What Is Money?

Image via Wikipedia

You would think this would be an easy question to answer – and it is, actually – but very few people seem to be able to, including most economists. This leads to all sorts of confusion, and the sort of disasters of incompetence that are now happening in Europe and elsewhere.

Ideally, today’s troubles will lead to a new monetary system, preferably a gold standard system. However, that would be difficult if nobody knows what money actually is.

As I argue in my book Gold: the Once and Future Money, money and credit are very different. Yes, I know there are many, many people who claim that “money is credit” and “credit is money.”

These people are confused. That is why, when you read what they write, you become confused also. Don’t you feel confused after you read this stuff?

The primary characteristic of money is that it is the item mutually acceptable as a means of payment.

forbes 1Dec 2011 : read full article 

... the extend Labour roams free?

SLIGHTLY more than 50% of QE3:

Developing Countries to Receive Over $350 Billion in Remittances in 2011, Says World Bank Report

WORLD BANK : Press Release No:2012/175/DEC

 Geneva, December 1, 2011 (Washington DC, November 30, 2011 8pm) – Remittance flows to developing countries are expected to total $351 billion this year, and worldwide remittances, including those to high-income countries, will reach $406 billion for the current calendar year, according to a newly updated World Bank brief on global migration and remittances.

 The top recipients of officially recorded remittances, estimated for 2011, are India ($58 billion), China ($57 billion), Mexico ($24 billion), and the Philippines ($23 billion). Other large recipients include Pakistan, Bangladesh, Nigeria, Vietnam, Egypt and Lebanon. While the economic slowdown is dampening employment prospects for migrant workers in some high-income countries, global remittances, nevertheless, are expected to stay on a growth path and, by 2014, are forecast to reach $515 billion. Of that, $441 billion will flow to developing countries, according to the latest issue of the Bank’s Migration and Development Brief, released today at the fifth meeting of the Global Forum on Migration and Development in Geneva

 read the full release : here

Why a Dollar & Euro Collapse Is Guaranteed.

Uploaded by StormCloudsGathering on 7 Nov 2011 - The collapse of the Dollar and the Euro is a mathematical certainty. In this video I'm going to prove it using very simple terms.