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US competitors in car-industry are not fools
The US President Barack Obama is trying to pass a protectionist measure as an aid to US carmakers, by preparing a regulation that will press the industry to double its average fuel economy till 2025. This is so called Obama Mileage Rule that at the moment is blocked by the Republican opposition in Congress.
Read more...The end of Draghi's void hopes
The last week verbal attack of Mario Draghi that skyrocketed the markets for some days obviously has exhausted its power. Today it became clear that Draghi will do nothing than to talk, as the real boss of the Euro - Bundesbank, still thinks Euro is its currency.
Read more...The inspiration of negative interests
After 4 years of accelerating monetary stimulus, the Central banks are at the edge of their potential to react. The interest rates are close to zero and trillions of government bonds are in balance sheets of FED, ECB, BoJ, BoE... But the economy is still in a very bad condition. So now some rumors appeared that FED is to further lower the interest rates. OK. Let's go to the end of this way. But after that?
Read more...USA is doing better with a blocked Government
An optimistic news on US public finances suddenly appeared - the government deficit is going down. For 2012 it will be "only" $1,21 trillion, instead of planned $1,33 trillion. Obviously the general trend of progressive increase of the US debt is continuing and still USA is on a road to entire financial catastrophe. But it is interesting to find that Obama will add a little less new debt than expected.
Read more...When the Central bank is the top money-print lobbyist...
What is the main function of the Central bank? To keep the price stability. This is not just a whim of any ancient economist. This is a result of natural evolution of money management. Once upon a time there had no Central banks. The money was gold and silver and its value was based on the value of gold and silver. The paper money were invented later. As the paper has no its own value, it had to be granted by the government. First the guarantee was the gold in government's treasury. After that, the guarantee became the Central bank and the confidence in it.
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