Monthly Archives: January 2013

Japan approves £73bn stimulus package

"The government will spend the funds on public works, incentives for corporate investment and financial aid for small firms to help the economy emerge from a mild recession triggered by falling exports last year. It expects the stimulus to raise real economic growth by 2 percentage points and create 600,000 jobs. The government will sell around 5 trillion yen more bonds than originally planned for the current fiscal year to fund the stimulus, a government official said. Mr Abe is gambling that a shift to a more expansionary fiscal policy and more monetary easing from the central bank can end years of stop-start growth." Continue reading →

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Japan and China step up drone race as tension builds over disputed islands

"Drones have taken centre stage in an escalating arms race between China and Japan as they struggle to assert their dominance over disputed islands in the East China Sea. China is rapidly expanding its nascent drone programme, while Japan has begun preparations to purchase an advanced model from the US. Both sides claim the drones will be used for surveillance, but experts warn the possibility of future drone skirmishes in the region's airspace is 'very high'." Continue reading →

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Israel and Iran: A love story?

"When war between Israel and Iran seemed imminent, Israeli graphic designer Ronny Edry shared a poster on Facebook of himself and his daughter with a bold message: 'Iranians ... we [heart] you.' Other Israelis quickly created their own posters with the same message -- and Iranians responded in kind. The simple act of communication inspired surprising Facebook communities like 'Israel loves Iran,' 'Iran loves Israel' and even 'Palestine loves Israel.'" Continue reading →

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America Is Setting A Dangerous Precedent For The Drone Age

"Micah Zenko of the Council of Foreign Relations makes this argument in a new report: 'A major risk is that of proliferation. Over the next decade, the U.S. near-monopoly on drone strikes will erode as more countries develop and hone this capability. In this uncharted territory, U.S. policy provides a powerful precedent for other states and nonstate actors that will increasingly deploy drones with potentially dangerous ramifications.' Jim Michaels of USA Today reports that 75 countries, including Iran and China, have developed or acquired drone technology in the wake of America's prolific program." Continue reading →

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NYPD ‘looking into’ drones to survey crowds

"New York City Police Commissioner Ray Kelly said on Thursday that his police force is 'looking into' using drones to survey demonstrations, reported DNAinfo. During an interview at the 92nd Street Y in New York City with Reuters News’ editor-in-chief, Kelly explained the need to look into 'anything that helps us,' although a drone program was not being aggressively pursued currently. He also discussed the department’s counter-terrorism programs and the fact that the force has privately paid officers in 11 cities worldwide to 'act as tripwires or listening posts for the city.'" Continue reading →

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Switzerland and Britain are now at currency war

"'Everybody is trying to weaken their currency at the same time. The Swiss have got away with it and now the Japanese want to try. The Sandinavians are pulling their hair out. The Turks are cutting rates even though the economy is overheating, and putting in credit controls instead because they don’t want the currency to rise. Policymakers are doing things that if you had suggested four years ago they would have put you in a straitjacket and thrown you in a cell. I don’t rule out anything any longer in this market. Desperate times lead to desperate acts,' said David Bloom, currency chief at HSBC." Continue reading →

Continue ReadingSwitzerland and Britain are now at currency war

Portugal warns EU-IMF troika to back off on austerity demands

"Portugal has taken its medicine with stoicism until now, winning praise from the EU leaders for sticking to its bail-out terms. But Troika officials fear that 'social cohesion' is fraying as the slump deepens. The country saw the biggest street protest this autumn since the end of the Salazar dictatorship. Portugal’s jobless rate has risen from 13.7pc to 16.3pc over the past year, reaching 39pc for youth, even before the full impact of austerity hits." Continue reading →

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Nigel Farage: This Is My Greatest Worry As We Head Into 2013

"What really has me worried, and this may go beyond 2013, but I think the one thing that is going to change is we’ve been through a period, since 2008, of interest rates being virtually zero. During that period of time, governments have racked up vast, vast amounts of debt, and are continuing to run huge budget deficits. And I think we are going to be heading into a world of rising interest rates. That is when our governments, who are continuing to run these deficits, are going to be in real, real trouble...." Continue reading →

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Thought The Euro Crisis Was Over? These 18 Charts Show The Real Crisis That Lies Ahead

"The latest Eurostat unemployment figures released today remind of a far bigger problem that the eurozone now must face – staggering levels of youth unemployment across the region. Governments on the euro periphery – which desperately need to institute difficult economic reforms to put budgets on sustainable paths – receive little support from a younger generation that feels like its opportunities and its future have been crushed already by the very same actors." Continue reading →

Continue ReadingThought The Euro Crisis Was Over? These 18 Charts Show The Real Crisis That Lies Ahead

Doug Casey – Let’s Do A Tour Around The World

"I think time is growing short, as the economy emerges from the eye of the current hurricane. After which it will encounter several more even bigger ones. There you have it. But don't look at this as idle information. I suggest you allocate some time, call your travel agent, and get going." Continue reading →

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