Ron Paul probably is the most misrepresented, slandered and
foulmouthed politician of all, from both the left and the right.
The media do their best not to mention him at all or misrepresent him.
Yet in spite of all this, and probably also because of this, videos
showing him are finding an ever increasing audience.
Congressman Ron Paul was practically the only conservative
politician who was against the war in Iraq. And not just this, he
is known, and that makes him outstanding, he constantly reminds
people of the costs of the war.
The popularity of videos with Ron Paul comes as no surprise
because of what he has to say. And sometimes a video gives
a really great insight into American politics, like this one here,
Ron Paul in a presidential election debate in 2007.
It is probably his opposition to wars that earns him the respect
of rather decent, non dogmatic, left wingers like Bill Maher, who
declared him as his hero some time ago.
More recently Jon Stewart made fun of the media for keeping
a strange silence about Ron Paul, apart from obviously respecting him
for what he says about wars and others matters. Ron Paul is getting
the most contribution from active military personnel, by the way.
Another video shows Ron Paul on "candidates @ Google", a video
well worth watching because he fits perfectly into a more demanding
environment.
Saturday, October 1, 2011
Friday, September 30, 2011
Economic crisis: the insanity of financial reporting and opinions
If people are getting fed up with the financial reporting and opinions,
their stomachs churning as a result of this perpetual crisis, sensationalism
and getting indeed deeper into problems then it is a logical reaction. As
a result, a storm is brewing over both investment bankers and financial
media.
One bothering aspect are the opinions, substituting proper reporting.
Rare and few are proper reports, real news. It is relentless barrage
of news trash and opinions which is followed by ideological debates and
politically biased dog fights. All in all the perfect recipe for people to get
really in economic and financial problems, to end up as fool.
What is already getting clear as the stock markets dive, remain low,
investment advisors are becoming obsolete because of the bad
experience people are making, seeing their investments lose value.
Banks are already starting to lay off investment and other stuff.
And it won't be long before the media have to lay off stuff, inlcuding
those of the financial sections. Because, as it turns out, the consumption
of news and opinions just cost time and money.
The Guardian ran an article some time ago in which newspapers from
2009 were compared to those of 1984, 25 years ago. The article
was pretty straight forward from the beginning:
How did readers know what to think in 1984? Once you get over the
minuscule, blurred pictures and the lack of colour, the first thing that strikes
you about the newspapers of that year is the paucity of opinionated columnists.
The finger-jabbing, red-faced anger of today's commentariat, the passionate,
omniscient certainty with which they declare opinions, scarcely existed 25
years ago. Incredibly, the Sunday Times – under that most opinionated of
editors, Andrew Neil – did not then have a single serious regular weekly
columnist,...
The article, So much news, but so little comment, does not deal with financial
and economic reporting and opinonizing. But the same could be written about
the financial "journalism".
Life is likely to continue to be full of surprises and experiences. What is
supposed to be final word and wisdom at a given moment is usually
rendered obsolete, if not turning as outright nonsense, soon after. Either
by what is going on in the financial markets or elsewhere.
The failure of the media in financial and economic matters is to some extent
well known. The failure of the financial media is actually well known.
It should also not to be forgotten that the media, pundits and journalists,
never pay any damage for wrong and stupid investment advice for instance.
The could practically never be hold responsible for instance for their
often very patronizing advice which by coincidence turns out to be
disastrous time and again.
The media crisis is likely to take accelarate for many reasons. Newspapers
and their self made decline is also known to be of interest for (that's just an
example) short sellers.
This is pointed out here just to have a really different perspective of that
business.
their stomachs churning as a result of this perpetual crisis, sensationalism
and getting indeed deeper into problems then it is a logical reaction. As
a result, a storm is brewing over both investment bankers and financial
media.
One bothering aspect are the opinions, substituting proper reporting.
Rare and few are proper reports, real news. It is relentless barrage
of news trash and opinions which is followed by ideological debates and
politically biased dog fights. All in all the perfect recipe for people to get
really in economic and financial problems, to end up as fool.
What is already getting clear as the stock markets dive, remain low,
investment advisors are becoming obsolete because of the bad
experience people are making, seeing their investments lose value.
Banks are already starting to lay off investment and other stuff.
And it won't be long before the media have to lay off stuff, inlcuding
those of the financial sections. Because, as it turns out, the consumption
of news and opinions just cost time and money.
The Guardian ran an article some time ago in which newspapers from
2009 were compared to those of 1984, 25 years ago. The article
was pretty straight forward from the beginning:
How did readers know what to think in 1984? Once you get over the
minuscule, blurred pictures and the lack of colour, the first thing that strikes
you about the newspapers of that year is the paucity of opinionated columnists.
The finger-jabbing, red-faced anger of today's commentariat, the passionate,
omniscient certainty with which they declare opinions, scarcely existed 25
years ago. Incredibly, the Sunday Times – under that most opinionated of
editors, Andrew Neil – did not then have a single serious regular weekly
columnist,...
The article, So much news, but so little comment, does not deal with financial
and economic reporting and opinonizing. But the same could be written about
the financial "journalism".
Life is likely to continue to be full of surprises and experiences. What is
supposed to be final word and wisdom at a given moment is usually
rendered obsolete, if not turning as outright nonsense, soon after. Either
by what is going on in the financial markets or elsewhere.
The failure of the media in financial and economic matters is to some extent
well known. The failure of the financial media is actually well known.
It should also not to be forgotten that the media, pundits and journalists,
never pay any damage for wrong and stupid investment advice for instance.
The could practically never be hold responsible for instance for their
often very patronizing advice which by coincidence turns out to be
disastrous time and again.
The media crisis is likely to take accelarate for many reasons. Newspapers
and their self made decline is also known to be of interest for (that's just an
example) short sellers.
This is pointed out here just to have a really different perspective of that
business.
Sunday, September 25, 2011
The financial history of Western Europe & Euro crisis
Without exaggeration there are few crime novels which can keep up, keep the
reader glued to pages than the financial history of Western Europe. A history
that has time and again been swept under the carpet, been forgotten in truly
Orwellian manner. And that is just one of the surprises when reading this book.
First published in the 80s, this books keeps what others promise.
Charles Kindleberger, the author, first provides a nice insight into how money and
banking evolved in this part of Europe from about 1400 onwards, including how
governement financing developed, listing such things as
Financial Revolution, The Power to Tax in England, Tax Farming,
Taxation, Borrowing, Selling Assets, ...Following this is then a chapter how
these government powers turned into a problem, causing poverty, economic
problems and financial crisis. Souvereigns, monarchs, were in financial trouble time
and again, occasionally defaulting on their debt.
One also gets a clear idea how things worked out eventually. For instance the
Spanish quest for gold and silver in the newly discovered Americas. A rather
bloody bit of history for one. And were for good reasons doomed to failure.
Kindleberger: The Spanish were at war during most of the sixteenth and first
half of the seventeenth century until ... the end of the Thirty Year War in 1648.
... They encouraged in warlike pursuits, and discouraged in the more humdrum
pursuits of agricluture, commerce and industry by the rich treasure uncovered
in the New World. The treasure was spent as fast, and frequently even faster, than
it was acquired. ... Spain was forced at the end of the sixteenth century to debase
its money with copper bought in Europe.
Great is also the insight into war finance and the consequences: In the Middle Ages
bankers were brought to ruin less by collapsing commodity and security markets,
as in modern times, than by failure of kings to meet debts incurred to raise
mercenary armies and to subsidize allies.
Needless to say that Kindleberger tells of currency debasement, a fraud commited
by monarchs numerous times. Ot that 24 bankers were sent to the guillotine in the
French revolution as a consequence of their failure
The generous insight possible in this case on Google books can really be appreciated.
The reader, visitor, gets to know what the book is really about, what it is dealing with,
better then any review could provide.
It should be mentioned that the book is sold way cheaper on amazon.co.uk (UK) for
a price around £ 21 than on amozon.com (US) where it is really expensive.
Another reason why this book deserves praise is the calm manner in which it is
written. Kindelberger does not incite to incite to wailing, ranting, outrage, one
serious problem of our present times. The reader thus does not lose brain and
understanding of what happened, but can follow up for instance how kings,
governements, turned to all kinds of taxation when in problem, apart from
usually resorting to fraudulent measures and deceit. The book is great by
giving a proper insight and thus is of use for anyone who does not want any
such disasters. There is really nothing that would recommend big time
defaults.
reader glued to pages than the financial history of Western Europe. A history
that has time and again been swept under the carpet, been forgotten in truly
Orwellian manner. And that is just one of the surprises when reading this book.
First published in the 80s, this books keeps what others promise.
Charles Kindleberger, the author, first provides a nice insight into how money and
banking evolved in this part of Europe from about 1400 onwards, including how
governement financing developed, listing such things as
Financial Revolution, The Power to Tax in England, Tax Farming,
Taxation, Borrowing, Selling Assets, ...Following this is then a chapter how
these government powers turned into a problem, causing poverty, economic
problems and financial crisis. Souvereigns, monarchs, were in financial trouble time
and again, occasionally defaulting on their debt.
One also gets a clear idea how things worked out eventually. For instance the
Spanish quest for gold and silver in the newly discovered Americas. A rather
bloody bit of history for one. And were for good reasons doomed to failure.
Kindleberger: The Spanish were at war during most of the sixteenth and first
half of the seventeenth century until ... the end of the Thirty Year War in 1648.
... They encouraged in warlike pursuits, and discouraged in the more humdrum
pursuits of agricluture, commerce and industry by the rich treasure uncovered
in the New World. The treasure was spent as fast, and frequently even faster, than
it was acquired. ... Spain was forced at the end of the sixteenth century to debase
its money with copper bought in Europe.
Great is also the insight into war finance and the consequences: In the Middle Ages
bankers were brought to ruin less by collapsing commodity and security markets,
as in modern times, than by failure of kings to meet debts incurred to raise
mercenary armies and to subsidize allies.
Needless to say that Kindleberger tells of currency debasement, a fraud commited
by monarchs numerous times. Ot that 24 bankers were sent to the guillotine in the
French revolution as a consequence of their failure
The generous insight possible in this case on Google books can really be appreciated.
The reader, visitor, gets to know what the book is really about, what it is dealing with,
better then any review could provide.
It should be mentioned that the book is sold way cheaper on amazon.co.uk (UK) for
a price around £ 21 than on amozon.com (US) where it is really expensive.
Another reason why this book deserves praise is the calm manner in which it is
written. Kindelberger does not incite to incite to wailing, ranting, outrage, one
serious problem of our present times. The reader thus does not lose brain and
understanding of what happened, but can follow up for instance how kings,
governements, turned to all kinds of taxation when in problem, apart from
usually resorting to fraudulent measures and deceit. The book is great by
giving a proper insight and thus is of use for anyone who does not want any
such disasters. There is really nothing that would recommend big time
defaults.
Monday, September 12, 2011
Getting a job or starting a business in the financial crisis
Starting all over again with a new job or business is in some ways similar to the situation after WW II, when people all over Europe found themselves entirely impoverished, everything was in ruins and just everything seemed hopeless.The only apparent relief then was that the war was over, the dangers and the dying of the war was over. That basic security and liberty was not just a relief, it was essential for the new beginning. Drastic and hopeless as the current situation may seem at least there is peace, the world is not in such ruins as it was back in 1945 and when comparing the economic situation back then the present economic situation is, desperate as it might be perceived, still way better now, fortunately so.
The economic crisis sometimes entails considerable changes in the lifestyle, job prospects and may even include relocation. It is for instance quite amazing to learn that younger, well educated Greeks flee the cities, return to their ancestral homes and begin entirely new.
Once people have made the transition, relocated and begun with something complety new, something they wouldn't even have thought of some time ago, like bee keeping, they find that their new situation and occupations are actually great and are quite happy with their new circumstances.. An article in worldcrunch.com tells of some interesting cases.
Meanwhile those who have made such decisions are unlikelz to regret them when one considers
how things are going in Greece. That's a situation when a really existential existence, having
enough to eat and roof over the head, instead of being subjected to the expenses of city life
without a job, is likely to be appreciated.
It is any case quite amazing what kind of economic misery people survive. For instance refugees
after WW II, who were just left with very few possesions, only what they could carry. And who
had the face the drastic reality that food was really scarce at that time. The war had taken its toll
on every bit of the economies.
The pictures tell an economic story for themselves. The first one are russian refugees, the second
German refugees after the War.
The pictures might be helpfull by considering crisis scenarios, help avoid
useless expenses that are later regretted as well missing out on chances.
The economic crisis sometimes entails considerable changes in the lifestyle, job prospects and may even include relocation. It is for instance quite amazing to learn that younger, well educated Greeks flee the cities, return to their ancestral homes and begin entirely new.
Once people have made the transition, relocated and begun with something complety new, something they wouldn't even have thought of some time ago, like bee keeping, they find that their new situation and occupations are actually great and are quite happy with their new circumstances.. An article in worldcrunch.com tells of some interesting cases.
Meanwhile those who have made such decisions are unlikelz to regret them when one considers
how things are going in Greece. That's a situation when a really existential existence, having
enough to eat and roof over the head, instead of being subjected to the expenses of city life
without a job, is likely to be appreciated.
It is any case quite amazing what kind of economic misery people survive. For instance refugees
after WW II, who were just left with very few possesions, only what they could carry. And who
had the face the drastic reality that food was really scarce at that time. The war had taken its toll
on every bit of the economies.
The pictures tell an economic story for themselves. The first one are russian refugees, the second
German refugees after the War.
The pictures might be helpfull by considering crisis scenarios, help avoid
useless expenses that are later regretted as well missing out on chances.
Monday, August 8, 2011
Model law to fight white collar crimes became effective in Ireland
A law that is likely to become an inspiration for other countries,
designed to clear up white collar crimes became effective today
in Ireland.
It is a real legal beauty. It has all the qualities to end all kinds of
old boys networks, as well as all kinds of rewards for keeping
quiet, for refusing cooperation with the police and other bad
habits.
Here one of the newspaper article describing it.
designed to clear up white collar crimes became effective today
in Ireland.
It is a real legal beauty. It has all the qualities to end all kinds of
old boys networks, as well as all kinds of rewards for keeping
quiet, for refusing cooperation with the police and other bad
habits.
Here one of the newspaper article describing it.
Thursday, July 14, 2011
Watch: The hero reporter in the Murdoch scandal (video), Nick Davies
(Updates below!) He is known for his patience and tenacity. He
was reporting about such media scandal since years. And he also
was the one who eventually found about the latest scandal, the
Milly Dowler thing that blew it. Ever since then there is
big coverage of all those media scandals on TV and other
media, a novum in media history. Usually scandals within the
media received only special, limited attention, got reported
only on a small scale.
Here is the video with Nick Davies, the Guardian reporter:
Nick Davies also wrote the Book: Flat Earth News
The comments at amazon, below, give a good idea.
(Update: Nick Davies is writing a new book, due in 2012.)
Update: Certainly Nick Davies keeps on reporting. The latest
revelation, just as disgusting as the Milly Dowler case, it the
Sarah Payne phone hacking scandal.
was reporting about such media scandal since years. And he also
was the one who eventually found about the latest scandal, the
Milly Dowler thing that blew it. Ever since then there is
big coverage of all those media scandals on TV and other
media, a novum in media history. Usually scandals within the
media received only special, limited attention, got reported
only on a small scale.
Here is the video with Nick Davies, the Guardian reporter:
Nick Davies also wrote the Book: Flat Earth News
The comments at amazon, below, give a good idea.
(Update: Nick Davies is writing a new book, due in 2012.)
Update: Certainly Nick Davies keeps on reporting. The latest
revelation, just as disgusting as the Milly Dowler case, it the
Sarah Payne phone hacking scandal.
Monday, July 11, 2011
Murdoch's News Corp and taxes. Another "shocking" scandal? Updates
Murdoch corporation is known for avoiding paying taxes,
operating via a host of tax havens, moving profits and losses
between countries. It is long time practice of Murdoch to do
so. Paul Farhi, a Washington Post writer, gave a nice insight
into these practices in 1997, when News Corp was still
registered in Australia.
In 1999 a BBC report looked at Murdoch how much he
paid taxes in Britain:
"According to The Economist, Mr Murdoch has saved at least
GB Pounds 350m in tax ..."
"How he has done it remains a mystery - and News Corporation is
certainly loath to give away any financial secrets.
But it appears that Mr Murdoch's tax accountants have surpassed
themselves - making full use of tax loopholes to protect profits in
offshore havens." The article came to the conclusion:
One thing is for sure - the company's accountants and lawyers
deserve a bonus.
In 2005 an article in the Observer briefly noted that Murdoch
had floated his his family's £3.8 billion personal investment
company in Bermuda - saving himself £522 million in taxes.
Bermuda was chosen because the media tycoon, who chairs
News Corporation, wanted to avoid the taxman after his firm
changed domicile from Australia to the United States recently.
These are just three articles that give a some insight into
the not paying tax tradition of Murdoch's company. So far,
there were obviously no closer looks of tax inspectors
at this practice.
Also well known is meantime the cosy relationship with
whomever. In Britain it included politicians, John Yates,
the assistant commissioner of the (London) Metropolitan
Police, who now regrets having blocked investigations in
2009, or a judge in the UK who threw out a case proposed
by the local police to go to trial, involving a corrupt police
officer, about the illegally obtained information of politicians.
They were all wining and dining with Murdoch, courting him,
and they were afraid of him. And not just in Britain.
Politicians of all parties were also courting and afraid of
Murdoch in Australia.
In the hindsight of all this it is not impossible that a closer
look by tax inspectors in a number countries could turn up
one or the other thing, if not a bit more, concerning tax
matters.
Update: The Daily Mail, a rival tabloid, is taking up the issue
of this as well, raising principle awareness to News Corps
practice of avoiding to pay tax as much as possible.
Update: The US is taking an interest in News Corps books
according to a Reuters article in which it asks whether the
US could do an Al Capone.
operating via a host of tax havens, moving profits and losses
between countries. It is long time practice of Murdoch to do
so. Paul Farhi, a Washington Post writer, gave a nice insight
into these practices in 1997, when News Corp was still
registered in Australia.
In 1999 a BBC report looked at Murdoch how much he
paid taxes in Britain:
"According to The Economist, Mr Murdoch has saved at least
GB Pounds 350m in tax ..."
"How he has done it remains a mystery - and News Corporation is
certainly loath to give away any financial secrets.
But it appears that Mr Murdoch's tax accountants have surpassed
themselves - making full use of tax loopholes to protect profits in
offshore havens." The article came to the conclusion:
One thing is for sure - the company's accountants and lawyers
deserve a bonus.
In 2005 an article in the Observer briefly noted that Murdoch
had floated his his family's £3.8 billion personal investment
company in Bermuda - saving himself £522 million in taxes.
Bermuda was chosen because the media tycoon, who chairs
News Corporation, wanted to avoid the taxman after his firm
changed domicile from Australia to the United States recently.
These are just three articles that give a some insight into
the not paying tax tradition of Murdoch's company. So far,
there were obviously no closer looks of tax inspectors
at this practice.
Also well known is meantime the cosy relationship with
whomever. In Britain it included politicians, John Yates,
the assistant commissioner of the (London) Metropolitan
Police, who now regrets having blocked investigations in
2009, or a judge in the UK who threw out a case proposed
by the local police to go to trial, involving a corrupt police
officer, about the illegally obtained information of politicians.
They were all wining and dining with Murdoch, courting him,
and they were afraid of him. And not just in Britain.
Politicians of all parties were also courting and afraid of
Murdoch in Australia.
In the hindsight of all this it is not impossible that a closer
look by tax inspectors in a number countries could turn up
one or the other thing, if not a bit more, concerning tax
matters.
Update: The Daily Mail, a rival tabloid, is taking up the issue
of this as well, raising principle awareness to News Corps
practice of avoiding to pay tax as much as possible.
Update: The US is taking an interest in News Corps books
according to a Reuters article in which it asks whether the
US could do an Al Capone.
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