A cautionary tale about the pitfalls of bureaucratic incompetence played out in Ireland over the last several days. American country music star Garth Brooks was scheduled to play five concerts in the Croke Park arena, one of the largest venues in the country. In all, 400,000 tickets were sold. That is an astonishing number, considering Ireland’s population is just under 4.6 million. Close to one in ten citizens was planning to attend!
This summer’s elections to the European Parliament, the legislative body of the European Union, marked a radical swing against the greater centralization of power in the hands of Eurocrats in Brussels. A great many of the Euroskeptic parties that had big wins were the French National Front and the British United Kingdom Independence Party (UKIP). Other Euroskeptic parties on the continent, in Germany, Denmark, the Netherlands, Greece, and elsewhere, also made out quite well. It was a wake-up call to many European leaders who had been complacent and tried to label Euroskeptics as fringe or extremist. The performance of UKIP in particular, which beat all three mainstream parties in the election, made those labels ridiculous.
The siren song of independence and national self-determination has sounded once again across Europe. It is a song that holds echoes of a century ago, when the internal force of nationalism convulsed the European empires into world war. Yet, while the song remains the same, the tune has changed.
Few French economists have achieved the kind of adulation Thomas Piketty has experienced recently from the media and the left. Within the context of the American political scene, Piketty’s dour predictions for the future of capitalism and his call for a “utopian” global wealth tax fit perfectly with the left’s frame of an inequality message.
In 2013 the price of gold bullion lost 28 percent and closed near its low for the year. It was the first annual decline since 2000 and the worst since 1981. Gold ETFs experienced record redemptions, shrinking the funds 33 percent by year end, but they were the exception. Marcus Grubb, Managing Director of the World Gold Council, reported, “2013 has been a strong year for gold demand across sectors and geographies, with the exception of western ETF markets.” While investors were leaving ETFs, demand for gold jewelry, bars and coins was increasing, as were purchases by central banks. Globally, consumer demand increased 17 percent for gold jewelry and 28 percent for bars and coins.
Why are European Commission antitrust authorities bending over backwards to settle with Google? The EU’s apparent preference for settling, rather than prosecuting Google for antitrust violations, turns a blind eye[...]
If the Fed further destabilizes the economy, the dollar will probably further decline, as who will want to buy dollars to invest in a declining economy only continuously threatened with even higher tax and regulatory burdens?
Do Europeans really need reminding that then-candidate Barack Obama promised on the eve of his November 2008 election as U. S. President that the “fundamental transformation of America” was about to begin?
Since the EU is already pushing net neutrality regulation of broadband and set on banning mobile roaming charges in the EU, it would not be surprising for the EU to propose that the U.S. also adopt net neutrality and broadband pricing restrictions in order to “harmonize” the EU-U.S. communications market as part of the upcoming U.S.-EU Free Trade Agreement.
The EU blinked. It’s obvious the EU does not want a high-profile political confrontation with Google over a search monopoly abuse enforcement action. Last May, when the Competition authorities announced[...]
Ironically six of the original European colonial powers of yesteryear, the UK, Germany, France, Italy, Spain and the Netherlands, have aligned to resist the new virtual-colonial-power — Google’s hegemony over[...]