CLibertyC

Investigation ordered after Spanish politicians got ‘salaries’ from private companies

"Spanish Prime Minister Mariano Rajoy ordered Monday an internal investigation into the finances of his centre-right Popular Party which was shaken by allegations of under-the-table payments to party officials. The centre-right newspaper El Mundo reported Friday that senior members of the party, which Rajoy has led since 2004, had received undeclared salaries, mainly from private companies, over a 20-year period. Citing unnamed former members of the Popular Party leadership, the newspaper said the party’s former treasurer Luis Barcenas distributed envelopes containing thousands of euros to party officials on top of their official salaries." Continue reading →

Continue ReadingInvestigation ordered after Spanish politicians got ‘salaries’ from private companies

New Nationalist Government of Japan Stokes Tensions with China

"Abe wants to lead the aging and insecure Asian economic power back to its former greatness and, most of all, to rid it of its unpopular 'postwar regime.' The premier wants to return Japan to its former position as a 'beautiful country,' which is also the title of a book in which he describes his vision for the nation's future. Now Abe wants to quickly increase defense spending. He is expected to buy surveillance drones from the United States soon in response to China's unveiling of eight new unmanned aircraft at an aviation show in November." Continue reading →

Continue ReadingNew Nationalist Government of Japan Stokes Tensions with China

Japan Ramps Up its Monetary Race to the Bottom

"So, the model for Japan today is their version of the New Deal. I'll assume that Japanese politicians will ignore that connection between easy money, inflation and war, and forget that such policies ended rather badly for the Japanese in 1945. LRC's own Mike Rogers reports from Tokyo that 'Japan's Debt Explosion [is] Coming Up'. Earlier, Rogers wrote that even the monied upper classes are starting to worry. Standards of living continue to fall or go nowhere." Continue reading →

Continue ReadingJapan Ramps Up its Monetary Race to the Bottom

In China, Widening Discontent Among the Communist Party Faithful

"Barely two months into their jobs, the Communist Party’s new leaders are being confronted by the challenges posed by a constituency that has generally been one of the party’s most ardent supporters: the middle-class and well-off Chinese who have benefited from a three-decade economic boom. Ordinary Chinese buy into a grand bargain: the party guarantees economic growth, and in exchange the people do not question the way the party rules. Now, many whose lives improved under the boom are reneging on their end of the deal, and in ways more vocal than ever before. Their ranks include billionaires and students, movie stars and homemakers." Continue reading →

Continue ReadingIn China, Widening Discontent Among the Communist Party Faithful

China Accounts For Nearly Half Of World’s New Money Supply Since 2005

"After having less than half the total US deposits back in 2005, China has pumped enough cash into the economy using various public and private conduits to make even Ben Bernanke blush: between January 2005 and January 2013, Chinese bank deposits have soared by a whopping $11 trillion, rising from $4 trillion to $15 trillion! We have no idea what the real Chinese GDP number is but this expansion alone is anywhere between 200 and 300% of the real GDP as it stands now." Continue reading →

Continue ReadingChina Accounts For Nearly Half Of World’s New Money Supply Since 2005

China ousts police chief ‘who owns hundreds of houses’

"A Chinese police chief has been sacked after reports he owned hundreds of houses and a false identity card, state media said Wednesday in the latest scandal to fuel public outrage over corruption. Zhao Haibin was stripped of his public offices for 'engaging in business deals using a fake identity card', the state-run Xinhua news agency reported, citing the Lufeng city government in the southern province of Guangdong. The case is the latest of a series involving officials owning multiple houses with different identity cards and residence permits." Continue reading →

Continue ReadingChina ousts police chief ‘who owns hundreds of houses’

Chinese revolt over government plan to ban BBQ in order to fight epic smog problem

"China web-users were furious Thursday over plans to tackle pollution with a ban on barbecues, wryly asking if Beijing would stamp out fried food and normal bodily functions in its war on smog. The controversial measure is being explored as Beijing aims to confront the heavy pollution which has choked large swathes of the country in recent weeks. State media said Wednesday that the country’s environmental watchdog had issued draft guidelines advising major cities to adopt legislation banning 'barbecue-related activities'. Barbequed food is a favourite dish in China, particularly lamb skewers, a speciality of the north-western region of Xinjiang." Continue reading →

Continue ReadingChinese revolt over government plan to ban BBQ in order to fight epic smog problem

Revolutionary Japan is suddenly the centre of world affairs

"We all watch with disbelief as China and Japan rattle sabres over the Senkaku/Diaoyu islands, so like the seemingly minor events that drew Europe's alliance systems into conflict from 1911 onwards. Both graduated to fighter jets last week: Japan sending in F-15s; China deploying J-10s, and mobilising the East China Sea fleet for live ammo drills. China's purpose is clear. It is testing the US security umbrella, and Washington's willingness to risk conflict to back Asian allies." Continue reading →

Continue ReadingRevolutionary Japan is suddenly the centre of world affairs

Chinese-Made Globes Anger The Philippines With A Territorial Claim

"A tiny, barely-noticeable line on some Chinese-made globes has created insult in Manilla where they are being sold in bookshops. The problem is that these globes appear to use China's 'nine-dash' map of the sea, first published in 1947, which shows Chinese territory extending hundreds of miles south from China's Hainan Island to the equatorial waters off the coast of Borneo. That little line indicates that the Spratly Islands are within Chinese territory, ignoring that they are currently the subject of overlapping territorial claims by China, Taiwan, Vietnam, Brunei, Malaysia and the Philippines." Continue reading →

Continue ReadingChinese-Made Globes Anger The Philippines With A Territorial Claim

A close call in the China Sea

"China has no desire to fight the United States unless absolutely necessary, and less to spark a US trade embargo. China holds over $1 trillion in US government debt. Beijing has no desire to panic all of East Asia. A war over the Senkaku/Diaoyus would be like the 1998-2000 desert war between Eritrea and Ethiopia, described as 'two bald men fighting over a comb.' No matter how much fish swim around the Senkakus, or how much oil and gas may be found underwater, nothing justifies a war. But, then again, nothing justified World War I that began by a murder in obscure Bosnia. Pray for cool heads in Beijing and Tokyo." Continue reading →

Continue ReadingA close call in the China Sea