Aug 16th 2020
EXTRACT: "China is light years ahead of most of the rest of the world in deploying digital payment technology. Alipay or WeChat Pay apps are all that is necessary to accomplish almost anything that requires a payment in China; the country is largely already making paper money obsolete. "
Aug 15th 2020
EXTRACT: "Seven hundred fifty billion euros is less than 5% of the stock of US government debt held by the public. It’s a drop in the bucket, in other words. And a drop does not a liquid market in safe assets make. Even if this really is Europe’s “Hamiltonian moment,” ramping up EU issuance by a factor of 20 will take decades. "
Aug 14th 2020
EXTRACT: "But the race is not over. In the 2016 election, prices moved the most in the two months just before the election. Trump trailed Hillary Clinton in prediction markets throughout the campaign and was seen as favourite only on election day – showing that the underdog can recover. So despite Trump’s poor position now, he might still regain some ground."
Aug 11th 2020
EXTRACT: "Last year, in the midst of the country-wide protests against corruption, I was honored by a Lebanese humanitarian organization. I began my remarks paraphrasing Kahlil Gibran’s poem “You have your Lebanon, I have my Lebanon.” Like Gibran, I love the Lebanese people, their poetry, art, song, and love of life. I love their generous and welcoming spirit. I also love what Lebanon has given to the world – especially its gifted people. And I love the sheer beauty of the country – its majestic snow-capped mountains and its pristine seascapes. And, like Gibran, I do not love Lebanon’s petty bickering politicians who lead because of an accident of birth. Nor can I embrace the country’s system of sectarian privilege and the corruption that is endemic to the political-economic regime that has squeezed Lebanon dry to the benefit of their chosen ones. And I reject the armed militias, whether they be Christian, Muslim, or secular that in the past and in the present continue to torment those who challenge their dominance. I told the audience that the Lebanon I loved was in the streets making their voices heard demanding fundamental reform – an end to sectarianism, corrupt feudal elites, and rule by force of arms."
Aug 8th 2020
EXTRACT: "It is time for the world’s governments and companies to wake up. Beijing’s reach is wide and deep. It is taking advantage of the West’s openness – and gaps and inconsistencies in our data protection protocols - to acquire information on all of us. The hacks on Anthem, Equifax, Marriott, and the US government are good examples of how they have already done so. American and Western companies need to take a hard look at the costs and benefits associated with operating in China and continuing to have Chinese partners. Those partners must comply with these Laws. American and Western companies that continue to operate with them may unwittingly well be aiding and abetting the Chinese government."
James Murdoch’s resignation is the result of News Corp’s increasing shift to the right – not just on climate
Aug 5th 2020
EXTRACT: "James Murdoch is not the most obvious candidate for editorial heroism. His route to resigning from the News Corp board because of “disagreements over certain editorial content” has been circuitous and colourful."
Aug 4th 2020
EXTRACT: "Say what you will about the slippery slope the US government has been on since Trump came to power, America has a rich history of promoting creative thought, running head-first into particularly uncomfortable subjects, and encouraging robust debate internally and among its allies and partners. Once Trump leaves the scene, America is sure to be perceived as having briefly lost its senses and will come charging back into the mainstream of global thought, debate, and engagement. China has entered the global arena crippled by its own ideology. Ultimately, the US is better equipped to lead the world. It knows that, and so does most of the rest of the world. Someone had better tell Beijing."
Jul 29th 2020
EXTRACT: "The Chinese government has for years argued that its ‘nine-dash line’ of sovereignty over the entire Sea is based on centuries of maritime history, and that China’s claim is air tight. The Chinese Foreign Ministry has even asserted that ample historical documents and literature demonstrate that China was “the first country to discover, name, develop and exercise continuous, effective jurisdiction over the South China Sea islands”. "
Jul 23rd 2020
EXTRACTS: "Like many, I have long been critical of Europe’s Economic and Monetary Union as a dysfunctional currency area. Notwithstanding a strong political commitment to European unification as the antidote to a century of war and devastating bloodshed, there was always a critical leg missing from the EMU stool: fiscal union. Not anymore. The historic agreement reached on July 21 on a €750 billion ($868 billion) European Union recovery fund, dubbed Next Generation EU, changes that.................Unlike the United States, which appears to be squandering the opportunities presented by the epic COVID-19 crisis, Europe has risen to the occasion – and not for the first time."
Jul 21st 2020
EXTRACT: "I cannot recommend strongly enough Anne Applebaum’s recent book Twilight of Democracy: The Failure of Politics and the Parting of Friends. Advancing her arguments with eloquence and personal testimony, Applebaum passionately decries the corrosion of liberal, open-society values in the last three decades. Her book is a practical reminder of what all democrats should have learned from reading Karl Popper’s magisterial The Open Society and Its Enemies, itself written in liberal democracy’s darkest hours during WWII."
Jul 19th 2020
EXTRACT: "Political motivations aside, Macron has said aloud what few others have acknowledged: NATO is experiencing “brain death,” owing to Trump’s dubious commitment to defend America’s allies. Given that the US drift away from NATO began well before Trump, there is little reason to believe that this trend will be reversed, though it may be slowed if he loses the November election. Unless Europe begins thinking of itself as a geopolitical power and takes responsibility for its own security, Macron argues, it will “no longer be in control of [its] destiny.”
Jul 18th 2020
EXTRACT: "Uighur women in China’s Xinjiang province who have more than the approved number of children are being forcibly sterilised, forced to have abortions or having intra-uterine contraceptive devices (IUDs) inserted without their consent, according to reports that have emerged in recent weeks. The birth rate for Uighurs, a predominantly Muslim minority, has decreased significantly, according to a recent research report. These alleged practices are egregious violations of the human rights of Uighur women, and in my opinion, constitute genocide of the Uighur people."
Jul 18th 2020
EXTRACT: "The genetic makeup or “genome” of SARS-CoV-2 has been sequenced and publicly shared thousands of times by scientists all over the world. If the virus had been genetically engineered in a lab there would be signs of manipulation in the genome data. This would include evidence of an existing viral sequence as the backbone for the new virus, and obvious, targeted inserted (or deleted) genetic elements. But no such evidence exists. It is very unlikely that any techniques used to genetically engineer the virus would not leave a genetic signature, like specific identifiable pieces of DNA code."
Jul 18th 2020
EXTRACT: "The greater lack of transparency that we can now expect will only serve to make Americans pay a greater price for the president’s worst characteristics. Trump has failed our country, utterly and contemptibly. He has spread lies and misinformation. He has displayed a stunning lack of empathy or concern. He has put his personal interests before those of the nation and has revealed an abject lack of leadership. "
Jul 15th 2020
EXTRACT: "The two-state solution is dead and buried. Whatever “solution” may be found in the future will emerge not from an orderly peace process, but from chaos, the precise nature of which is impossible to predict. It could be unilateral annexation. It could be a sudden violent Israeli disengagement from parts of the West Bank. Or it could be direct conflict. This is the iron law of unintended consequences at work."
Jul 15th 2020
EXTRACT: ".........countries such as China and South Korea have been able to successfully battle the virus, and why Morocco, which just started doing the same, now has a reasonable chance of beating the virus down. America is capable of doing all this but the politicization of the virus and silly interpretations of what freedom of action means under the US Constitution have prevented us from following their example. Yes, you are free to take your own health and life into your own hands by being stupid and selfish, but you are not free to do the same with someone else’s health and life. And that is what the “live free or die” movement and conspiracy theory believers among us fail to acknowledge."
Jul 9th 2020
EXTRACT: "The ideas behind MMT [=Modern monetary theory] were mainly developed in the 1970s, notably by Warren Mosler, an American investment fund manager, who is also credited with doing much to popularise it. However, there are many threads that can be traced further back, for instance to an early 20th-century group called the chartalists, who were interested in explaining why currencies had value. These days, prominent supporters of MMT include L Randall Wray, who teaches regular courses on the theory at Bard college in Hudson, New York state. Another academic, Stephanie Kelton, has gained the ear of politicians such as Bernie Sanders and, more recently, Democrat US presidential candidate Joe Biden, providing theoretical justification for expanding government spending."
Jul 7th 2020
EXTRACT: "So we are left with herd immunity and viable treatments as the world’s only realistic near term solution. Sweden has been roundly criticized and shunned by its neighbors for embracing herd immunity at the outset of the pandemic. It has paid a price for having done so based on accelerated infection and death rates. But while the jury will remain out for some time to come about the wisdom of having done so, Sweden may prove to have been ahead of the curve in its approach. Herd immunity is an option that should be seriously considered by the world’s governments, for a safe and effective vaccine could be many years away, and may not be achieved at all. PICTURE: Daniel Wagner.
Jul 5th 2020
EXTRACT: "The war on Yemen begun in 2015 by Saudi Arabia and the United Arab Emirates has been a failure militarily and a vast drain on resources that, in the age of Covid-19, neither country can any longer afford. Not only has the war been Saudi Arabia’s Vietnam, it has inflicted untold human damage on Yemenis. UNICEF has a new report out warning that millions of Yemeni children are on the brink of starvation. Yemen, with a population of about 28 million (think Texas), is one of the poorest countries in the world. Saudi Arabia, with a citizen population of some 21 million, is one of the richest. The United Arab Emirates, with a citizen population of a little over 1 million, is likewise very rich. Both have waged a high-tech air war on the indigenous Yemeni Houthis, but in the past year have pitched their Sunni proxies against one another."
Jun 25th 2020
EXTRACT: "The facts are clear: the wealthiest 0.54%, about 40 million people, are responsible for 14% of lifestyle-related greenhouse gas emissions, while the bottom 50% of income earners, almost 4 billion people, only emit around 10%. The world’s top 10% income earners are responsible for at least 25% and up to 43% of our environmental impact. Most people living in developed countries would fit into this category, meaning you don’t have to consider yourself rich in order to be globally affluent. Even many poorer people in wealthy countries have a disproportionately large and unsustainable resource footprint compared to the global average."