Debt Crisis

Technology, Ukraine and the fading of the nation-state.

Technology is what enabled Westphalia and is what is now slowly fraying it. Our national identity has weakened significantly as we’ve become far more exposed to other people and cultures. The nation state grew because communication was and could be constrained to language and geography. Moscow and Beijing still believe they can control that narrative …

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End Euro or EU?

Mrs. Le Pen will hover over Europe threatening to become not only France’s first female president but the one who will exit the Euro or worse, the EU. These threats will not be taken lightly by markets because they risk being implemented. And even today, an increasing majority of mainstream politicians are trying to steal …

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“Those who can diversify out of US debt are likely to do so”, but who can?

“Those who can diversify out of US debt are likely to do so” But whither? As you say China may be on track to become holder of a reserve currency, but is far, far from there. We’ve seen almost 70 years of US hegemony, a time during which the world internationalized like never before and …

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Marxism reborn?

Marxism also is a surprisingly effective tool in social science in order to explain people’s motives. E.g. anthropologist Eric Wolf used a Marxist perspective in ‘Europe and the people without history’. Likewise Nolan argues:  “Karl Marx more than Adam Smith understood the progressive power of capitalism in unifying the world. Marx predicted that capital would …

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Egypt faces an immense challenge

Egypt faces an immense challenge. We may now see a proper liberal constitution being written enshrining equality, freedom of assembly, expression and religion: principles severely trampled upon under Morsi. But the return of Islamists and their doctrines to a democratic government of Egypt seems inevitable. With it the desire to turn Egypt into an Islamic …

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Whither China?

Very relevant here: China faces a “demographic timebomb” as they say with more than a third of all Chinese projected to be over the age of 60 in 2050 with a median age of almost 50. The following Economist article is very telling: http://www.economist.com/node/21553056 I agree that the Chinese authorities have proven to be eminently …

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