Economics and politics

Economics and politics (19)

Articles on economics from a political perspective.

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Foreign Affairs named in 2011 Russia “The dying bear”, pointing to the country’s high mortality and the low fertility. “Russia's economy doesn't produce anything that anybody wants to buy, except oil, gas and arms”, said ex-president Obama at his final news conference in 2016. “Vladimir Putin is a bigger threat than Isis”, according to Senator and ex-presidential candidate John McCain, And according to the actor Morgan Freeman, the US is now at war with Russia. But then everything should be fine. Russia is on its way down the drain. No people left, a useless economy, finished. Or are they once…
Thursday, 28 September 2017 00:52 in Economics and politics

The imminent demise of Russia

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“The Russian economy is in tatters”, said ex-president Barak Obama in his State of the Union Address in January 2015, and one year earlier he had described Russia as a “regional power”. The republican ex-presidential candidate senator John McCain said in March 2014 that Russia is “a gas station masquerading as a country”. “Lights our out for the Putin Regime”, “Is Putin’s Russia Headed for a Systemic Collapse?”, “Is Vladimir Putin’s big collapse coming soon?”, “The Achilles Heel of Putin’s Regime” - the list of dire predictions for Russia and the “Putin regime” from the last year or so is…
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We are in 2017 an estimated 7,500 million people on the planet earth – three times the 2,500 million we were in 1950. According to projections made by UN, we will be 9,700 million in 2050 and 11,200 million at the end of the century. The growing world population and its natural desire for decent living conditions imply an enormous stress on our planet with global warming, depletion of resources, decreasing biodiversity, polluted and congested megacities and accumulation of waste. Can we handle this in the future?
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The Middle East has many bizarre regimes. A theocracy in democratic disguise governing Iran, an elected coup general as President of Egypt plus Sultans and Emirs of all shades. And then the most bizarre of all: the Absolute Monarchy of the House of Saud in Saudi Arabia. A medieval absolute Kingdom armed to the teeth with sophisticated weaponry and until recently awash with cash. Our most important ally in the region, who we support unconditionally, also when it chops off the head of its opponents, cuts off the hands of thieves and beheads women accused of sorcery. It is an…
Saturday, 16 January 2016 22:28 in Economics and politics

And now comes the hangover

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There have been good prices for commodities during the last decade: oil, gas, minerals, agricultural products. Now prices have plummeted. This implies a sea change as commodities are again a buyers' market, as it has been the case for most of the second half of the last century. It tips the correlation of forces in favour of the developed countries against the developing countries, which are generally heavily dependent of the export of commodities. But some developed countries are suffering too.
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Independently of the outcome of the Paris Climate Change summit, big oil and coal have started an irreversible decline, facing the competition from renewable energies and an increasing political pressure to de-carbonize our societies. This changes completely the game and eliminates the incentive to reduce supply to get higher prices. In stead, the rush is now to exploit the oil and gas before it is too late. Who comes too late, loses. So OPEC has lost its power for good, and there is no chance it will get it back again.
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