Raul Eamets: suuremad riigid ei oleks rahul, kui Kreeka ja Saksa majandus samasse potti pandaks

Raul Eamets: suuremad riigid ei oleks rahul, kui Kreeka ja Saksa majandus samasse potti pandaks

Eamemets räägib selles artiklis kogu selle eurojama sisu ära, aga jõuab valele järeldusele. Kui kujutada ette, et liikmesriigid suudaksid järgida 3% defitsiidi ja 60% võla reeglit (kuidas täpselt, pole oluline, sellise teoreetilise eelduse võib teha), siis jääb ju ikkagi kõrge tööpuudus kaubandusdefitsiidiga riikides ja selline liit pole poliitiliselt jätkusuutlik. Ei tohiks olla “hea rahaliit” ka Eametsa enda arvates. Miks Eamets sellise järelduse teeb, jääb mulle selgusetuks.

«Tõeline Euroopa majandusühendus on ilus eesmärk, kuid selle käigus tuleb vastata kahele fundamentaalsele küsimusele: kuidas me ületame põhimõttelised erinevused liikmesriikides raha- ja rahandusliidu loomisel ja kas meil on piisavalt poliitilist tahet üle saada minevikupärandist,» sõnas majandusprofessor.

Mõlemad on poliitilise tahte küsimused. Sellist poliitilist tahet tõepoolest pole. Artikkel on selles mõttes pettumus, et Eamets arvab: reeglitest mitte kinnipidamine on probleem, kui probleemiks on stagneeruv majandus, kõrge tööpuudus ja valitsuste võimetus ebapiisavale nõudlusele piisavalt suure defitsiidiga vastamine. Ma võin eksida, aga arvan, et see on esimene põhjalikum euroala probleeme lahkav artikkel meie ajakirjanduses. Eamets viitab moraaliriskile näiteks. Jah, see on põhjus, miks vasakpoolsete röök on vale, et suuremaid defitsiite on vaja näiteks Kreekas. Kui Kreekal lubada seda teha, siis see annaks signaali liikmesriikidele, et selline tegevus on võidu peale välja minek. Mitte kuidagi ei saa üle ega ümber, et euro on praegusel kujul mittetöötav valuuta pikemas perspektiivis. Kahjuks jätab Eamets selle välja oma artiklist ning laias laastus soovitab massilist tööpuudust ka tulevikuks, peaasi, et liikmesriigid reegleid ei rikuks. Võimaklik, et Eamets ei saa sellest aru. Kui me mõtleme näiteks Varoufakise peale, siis tema sai küll aru, et euros endas on asi.

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Hale propaganda

Mina olen tõenäoliselt viimane, kes Varoufakise läbirääkimiste strateegiat kiitma kipuks, aga sellise hinnasildi panek Keskpanga juhi poolt viitaks justkui sellele, et nad on kuidagi kulud suutnud kokku lüüa ja kahju hinnata. Hale propaganda.

Rahandusminister Varoufakis läks Kreekale maksma 86 miljardit eurot

Kreeka keskpanga juht Yanis Stouranas andis löögi Kreeka eelmise rahandusministri Yanis Varoufakise suunas öeldes, et tema läbirääkimiste strateegia või õigemini selle puudumine läks Kreekale maksma 86 miljardit eurot…..

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Juncker Brexitist: desertööre tagasi ei oodata

Juncker Brexitist: desertööre tagasi ei oodata

Euroopa Komisjoni president Jean-Claude Juncker hoiatas Briti valijaid Euroopa liidust väljumise või sellesse jäämise referendumi lähenedes, et «desertööre avasüli tagasi ei oodata.»…

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The Origins of Money: A New Perspective

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Debt and savings in the euro area: An update (and how net exports have been keeping the EA afloat so far)

Net exports increasingly support the euro area putting upward pressure on the € and making the EA highly vulnerable

Debt and savings in the euro area: An update (and how net exports have been keeping the EA afloat so far)

The current combination of sectoral balances makes the EA highly vulnerable. If private corporations remain net savers in a weak economy, and if governments consider their current deficit levels just about good enough to meet their fiscal rules, any turbulence originating from a rising value of the euro in the foreign exchange markets or from a further slowdown in the U.S. would leave private savings with no support and set the conditions for another recession.

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    1. When the left become useless and lie to themselves, the right step in. I’m too tired of idiotic ‘liberals’ to care.

       Photo published for Donald Trump Is Right: Deficits Don’t Matter

      Donald Trump Is Right: Deficits Don’t Matter

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The arguments against #Brexit have reached unbelievable levels of hysteria.

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‘Loose cannon’ Trump may take aim at Wall Street

USA Today

‘Loose cannon’ Trump may take aim at Wall Street

WASHINGTON — Let’s face it — Donald Trump is smarter than he looks.

For all the personality flaws the press loves to dwell on, the presumptive Republican nominee understands more about real world finance than all the deficit hawk politicians in both parties put together.

As he clarified his remarks about consolidating U.S. debt by buying back bonds at a discount when interest rates rise, he was setting the record straight on those who thought he meant to renege on the debt and effectively default.

Not at all, Trump said last week. And then he dropped another bombshell in explaining why that’s not even possible.

“This is the United States government,” Trump said on CNN. “First of all, you never have to default because you print the money, I hate to tell you, OK?”

Bingo. With a stroke, Trump demolished decades of homage by many economists and virtually all politicians to the straitjacket of a monetarist dogma that ignores the realities of present-day finance…….

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Fed official spreads some stupid propaganda

Fed official hits Trump comments on debt

Republican presidential candidate Donald Trump’s suggestion that the U.S. could print more money to pay down its debt would lead to severe problems for the economy and unfairly harm those with lower incomes, Federal Reserve Bank of San Francisco President John Williams said Tuesday.

“We know that monetizing the debt leads to super high inflation,” Williams said at an event hosted by POLITICO. “It’s one of the worst kinds of outcomes you can have.”…..

By monetizing debt he means that Fed is buying government debt. He says it leads to super high inflation. Guess what, It doesn’t.  ECB has been doing that on a massive scale, yet they are fighting deflation in Europe. Same can be said about Japan. QE has not lead to super high inflation in US and UK. The printing money term has to be used around ignoramuses who don’t understand how the monetary system actually operates. No need to “print money” for everything to be ok with government debt.

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Brexit lõi britid kahte lehte

Brexit lõi britid kahte lehte

Viimaste arvamusküsitluste põhjal on endiselt raske prognoosida, missuguse tulemusega lõppeb 23. juunil peetav referendum Suurbritannia liikmelisuse üle Euroopa Liidus….

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On dealing with federal debt, Donald Trump comes in ahead of the Harvard econ profs

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Olivier Blanchard IMF-st peksab sajaga segast

Ja sina lootsid, et nad suudavad kuidagi Euroopa võlakriisi lahendada…..

Olivier Blanchard eyes ugly ‘end game’ for Japan on debt spiral

Japan is heading for a full-blown solvency crisis as the country runs out of local investors and may ultimately be forced to inflate away its debt in a desperate end-game, one of the world’s most influential economists has warned.

Olivier Blanchard, former chief economist at the International Monetary Fund, said zero interest rates have disguised the underlying danger posed by Japan’s public debt, likely to reach 250pc of GDP this year and spiralling upwards on an unsustainable trajectory.

“To our surprise, Japanese retirees have been willing to hold government debt at zero rates, but the marginal investor will soon not be a Japanese retiree,” he said.

Prof Blanchard said the Japanese treasury will have to tap foreign funds to plug the gap and this will prove far more costly, threatening to bring the long-feared funding crisis to a head……..

Ime, et nad Jaapanile ei ole teinud ettepanekut euroga liituda. Jeenivõla võiks eurovõlaks konverteerida. Kui seda ruttu teha, siis oleks Jaapanis ehk juba sügiseks võlakriis.  Saaksid Ahto Lobjakas ja Viljar Veebel ürituse korraldada”Kuidas lahendada Jaapani võlakriis”.

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Hirm ei võida Euroopas

Populistlikud jõud mängivad hirmudele ja püüavad rahvast hirmutada, et enda tahet läbi suruda. Hirm ei võida Euroopas    :)

EU referendum: David Cameron claims Islamic State ‘might be happy’ with Brexit

Donald Tusk: Brexit will bring ‘chaos’

 

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Former Trump girlfriend hits back

Kui New York Times ja kogu peavoolu meedia on tugevalt kallutatud ühe presidendikandidaadi vastu, siis loogika peaks sulle ütlema, keda valida. Seda isegi hoolimata sellest, mida sa sellest kandidaadist ja tema plaanidest tead. Mul oleks häbi töötada New York Timesile praegu.

Former Trump girlfriend hits back at ‘upsetting’ NYT cover story

…On Monday morning, Brewer Lane appeared on “Fox & Friends” to dispute the Times’ framing of her account.

“Actually, it was very upsetting. I was not happy to read it at all,” Brewer Lane said. “Well, because The New York Times told us several times that they would make sure that my story that I was telling came across. They promised several times that they would do it accurately. They told me several times and my manager several times that it would not be a hit piece and that my story would come across the way that I was telling it and honestly, and it absolutely was not.”

Asked what the reporters got wrong, Brewer Lane said they took her quotes and “put a negative connotation on it.”

“They spun it to where it appeared negative. I did not have a negative experience with Donald Trump, and I don’t appreciate them making it look like that I was saying that it was a negative experience because it was not,” Brewer Lane said.

Co-host Ainsley Earhardt asked to clarify if Brewer Lane knew him well and that they dated for several months.

“That’s correct. Yes, and he was never — he never made me feel like I was being demeaned in any way. He never offended me in any way. He was very gracious. I saw him around all types of people, all types of women. He was very kind, thoughtful, generous, you know. He was a gentleman,” Brewer said……

Media Silent as Bernie Sanders Packs California Stadium Beyond Capacity

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I wouldn’t be fair

research: EU immigrants more educated, less likely to claim benefits than UK-born:44% have some higher education vs 23% of UK-born

That’s why the UK doesn’t want them. UK doesn’t want highly skilled people from needy, collapsing EU countries. It wouldn’t be fair, they are needed at home.

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Bernard Connolly: the EU is an “explicitly anti-democratic”, crony capitalist state

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Järjekordne idiootsus Brüsselist

Brüssel kaalub pankadest raha võtmise peatamist

Aga hea küll, see, et on idiootsus, on ju minu väide. Hoopis tähtsam on see, et meil puudub igasugune otsustusõigus, isegi mingisugust debatti ei tule neil teemadel.

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Brexit, Trump versus Obama

Obama käis britte hirmutamas seoses in out EL-i referendumiga ja tema eesmärk oli neid veenda El-i jääma. Trump seevastu ei võtnud positsiooni ning ei sekkunud brittide eelseisvasse valikusse.

Trump Assures Brexit Voters US-UK Relations Are Safe If He Becomes President

donald trump racist

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Modern Monetary Theory and Practice – an Introductory Text is now published

Latest News

Modern Monetary Theory and Practice – an Introductory Text is now published (as of March 10, 2016) and available for purchase.

This version of the book has been tailored for students in an introductory macroeconomics program.

You can find out how to purchase the book from our Purchase Page.

It is based on the principles of Modern Monetary Theory (MMT) and includes the following detailed chapters:

Chapter 1: Introduction
Chapter 2: How to Think and Do Macroeconomics
Chapter 3: A Brief Overview of the Economic History and the Rise of Capitalism
Chapter 4: The System of National Income and Product Accounts
Chapter 5: Sectoral Accounting and the Flow of Funds
Chapter 6: Introduction to Sovereign Currency: The Government and its Money
Chapter 7: The Real Expenditure Model
Chapter 8: Introduction to Aggregate Supply
Chapter 9: Labour Market Concepts and Measurement
Chapter 10: Money and Banking
Chapter 11: Unemployment and Inflation
Chapter 12: Full Employment Policy
Chapter 13: Introduction to Monetary and Fiscal Policy Operations
Chapter 14: Fiscal Policy in Sovereign nations
Chapter 15: Monetary Policy in Sovereign Nations

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Robert Davi: Donald Trump is going to win the presidency

Vaata järgnevat. Hollywoodi näitleja Robert Davi kommenteerib  George Clooney Trumpivastast “ränti”. Ta ütleb, et Clooney on Hollywoodi eliit, tema vanemad olid tuntud ja tema isal oli TV seriaal. Ta ütleb, et Cannesi filmifestivalil on sotsialistidest progressiivsed marksistid koos. Ma olen ise varem juttu teinud vahest eliidi hulka kuuluvatest marksistidest, kes räägivad proletariaadi nimel, kuid nad ei tea ise midagi proletariaadist. Sellepärast nende ideed ongi nii kaugel tegelike tööliste omadest. Varoufakis jne. Sellepärast toetab Clooney elitistlikku Hillary Clintonit, talle ei jõua iialgi kohale inimeste mured, kes tänu NAFTA-le töötuks on jäänud, need mured on abstraktsed ja teoreetilist laadi tema jaoks.

Davi ütleb, et kaameramehed, grimmeerijad jne Hollywoodis toetavad Trumpi. Samuti ütleb ta, et trump saab presidendiks, olen nõus.

 

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Veerand Kreeka tööjõust on tööta

Veerand Kreeka tööjõust on tööta

…Täna avalikustatakse ka esimese kvartali majandustulemused, mille kohaselt on Kreekasisemajanduse kogutoodang (SKT) kõigi eelduste kohaselt kahanenud, vahendab Bloomberg. 2015. aasta seisuga oli Kreeka majandus olnud languses seitsmel aastal kaheksast….

Kreeka uskus euroametnikke, et kasinus viib kasvule ja on nende poolt ettekirjutatud programme täitnud.

Tuletame midagi meelde ka:

Greece will be the fastest growing economy in Europe in 2016 according to the latest World Economic Outlook released by the IMF [April 2015] (!)

According to the latest version of the World Economic Outlook (WEO) elaborated by the International Monetary Fund (IMF) and published on April 14, 2015, Greece’s GDP growth rate will reach +2.5% in 2015 and +3.7% in 2016. In other words, during 2016 Greece will be the fastest growing economy in Europe…..

:)  Kas keegi söendab väita, et euro on majanduslikult kasulik Kreekale? et muidu oleks tööpuudus 50% ja majandus kahaneks veel kiiremini?

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Former BoE chief King predicts collapse of the eurozone

Former BoE chief King predicts collapse of the eurozone

Mervyn King, the former governor of the Bank of England, predicts the collapse of the eurozone in a book published this week, going further than his well-known private scepticism for the European single currency.


In extracts from The end of alchemy: banking, the global economy and the future of money,  he says the burden of debts between nations in the eurozone “may become too great to remain consistent with political stability”.

Highlighting the need for the eurozone to integrate more fully, including significant debt write-offs, he says the process will probably exceed the willingness of the European people to bailout other countries.

“Monetary union has created a conflict between a centralised elite on the one hand, and the forces of democracy at the national level on the other. This is extraordinarily dangerous,” the former governor says.

Lord King has expressed similar views before and railed against the requirement, only for debtor nations to adjust policies while in office. In 2013 he told the FT that the requirements on Greece and other eurozone periphery countries were best described as hell. “Instead of mere hell, it’s real hell,” he said.

Coming to the end of his 10 years in office, the then governor said it was “astonishing” that eurozone authorities had not realised the bloc needed higher inflation in Germany, permanent transfers from countries such as Germany to nations such as Greece, or to break up.

At the time he said: “I don’t know what the right answer is”, a view he has toughened in his book to say that attempts to find a middle way, in which Greece is offered concessional loans on lax terms by the rest of the eurozone, will not work.

“The attempt to find a middle course is not working. One day, German voters may rebel against the losses imposed on them by the need to support their weaker brethren, and undoubtedly the easiest way to divide the euro area would be for Germany itself to exit,” Lord King says.

The book primarily concerns the future of banking and imbalances in the global economy. He says the world will inevitably face financial crises because it has not sufficiently resolved the issues that caused the problems of 2007-08.

If the alternative is crushing austerity, continuing mass unemployment, and no end in sight to the burden of debt, then leaving the euro area may be the only way to plot a route back to economic growth and full employmentHis predictions will cause some consternation among central bankers and regulators since his period in office was marked by a dismantling of the financial stability efforts of the Bank of England in the belief that controlling inflation was sufficient to prevent economic crises.

Lord King is by no means sanguine about breaking up the eurozone. Predicting that southern European countries will tire of the efforts needed to stay in, he adds that “the counterargument — that exit from the euro area would lead to chaos, falls in living standards and continuing uncertainty about the survival of the currency union — has real weight”.

“But if the alternative is crushing austerity, continuing mass unemployment, and no end in sight to the burden of debt, then leaving the euro area may be the only way to plot a route back to economic growth and full employment. The long-term benefits outweigh the short-term costs,” he writes.

Minu meelest on üsna iseloomulik Siim Kallase sõnavõtt Kreeka teemal, et mis Kreeka oma raha, neil seisavad ju täpselt samad probleemid lahendada, üle enda võimete elamine tuleb ikkagi lõpetada jne. See iseloomustab enam vähem kõiki meie poliitikuid. Nad mitte ainult ei taha ja ei oska probleemi lahendada, vaid seda pole üldse olemas nende jaoks. Miljonid töötud ei morjenda neid karvavõrtki.

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Against the Troika: Crisis and Austerity in the Eurozone

against the troika

Against the Troika: Crisis and Austerity in the Eurozone

A radical anti-capitalist alternative to Eurozone austerity
On the 25th January 2015 the Greek people voted in an election of historic importance—not just for Greece but potentially all of Europe. The radical party Syriza was elected and austerity and the neoliberal agenda is being challenged. Suddenly it seems as if there is an alternative. But what?

The Eurozone is in a deep and prolonged crisis. It is now clear that monetary union is a historic failure, beyond repair—and certainly not in the interests of Europe’s working people.

Building on the economic analysis of two of Europe’s leading thinkers, Heiner Flassbeck and Costas Lapavitsas (a candidate standing for election on Syriza’s list), Against the Troika is the first book to propose a strategic left-wing plan for how peripheral countries could exit the euro. With a change in government in Greece, and looming political transformations in countries such as Spain, this major intervention lays out a radical, anti-capitalist programme at a critical juncture for Europe. The final three chapters offer a detailed postmortem of the Greek catastrophe, explain what can be learned from it—and provide a possible alternative.

Against the Troika is a practical blueprint for real change in a continent wracked by crisis and austerity.

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MEP Luke ‘Ming’ Flanagan ‏visits the TTIP reading room

Vaadake seda filmi ja hõigake hurraa EL-i demokraatiale ja meie kõigi osalusele ning võimalusele midagi muuta.

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Presentación del libro: “La distopía del euro” de William Mitchell

 

 

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