Death Star Economics



Mostly a question of timing




There won’t be a news brief tomorrow, Thursday, June 19, 2012.

David Bagley left his post as Chief Compliance Officer of HSBC in response to the allegations that the bank was involved in money laundering. However, Bagley will stick around until a successor is found. According to the Handelsblatt, around $7bn were transferred from Mexico to the US, suggesting to benefit drug trafficking.
The first notably positive effect of the Olympics has finally arrived in the UK, where unemployment has sunk to a 9-month low (8.1%). Just think of all the jobs created by putting the five rings up on Tower Bridge and either maintaining (long-term job creation) or taking them down again (short-term job creation).

Meanwhile in France, Francois Hollande has announced to slash tax breaks on overtime work, to indeed discourage any form of labor exceeding 35 hours a week. The reasoning behind it is to incentivize job creation… need I say more? read article

After its IPO “disaster”, it grew more quiet around Facebook and either way, they had a gazillion users to lean on at least. This seems to be changing. The US user base declined by 1.1% over the past six months, with similarly poor results in 14 other countries, according to Capstone. read article

The most entertaining news of the day are brought to us by the Italian press, declaring that the Greek island Ikaria is planning to join Austria [yes, the country], when its 100-year contract of Greek dependence expires next weekread article

Speaking of hilarious things, here is Bob Diamond’s essay “Citizenship: The Evolution of ‘Corporate Philanthropy as published in the Georgetown Journal of International Affairs in this summer/fall edition. I believe, this is pretty much the worst of all timings. read article

So long.





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One Response

  1. princess1960 says:

    thank you..

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