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381 - 390 from 772 . In "Opinion / Editorial"
Financial markets and the Ouroboros
America’s wealth and economic power was built upon its superabundant natural resources including oil, minerals, lumber and rolling prairies. But the nation’s greatness rested on the brilliant exploitation of these resources by driving entrepreneurs, whose “can-do” spirit filtered down to their workforce. The names Carnegie, Rockefeller, Vanderbilt, Morgan are only the best-known of a relatively small group of often ruthless businessmen who built huge industrial empires. Depending on your point of view, they were either brilliant Captains of Industry or remorseless Robber Barons, who steam-rolled legislators and labor while they amassed massive fortunes. For good or bad, and on balance, it has to be seen as for the good, these men unleashed the industrial genius of their country....
July 27, 2018

Financial markets and the Ouroboros

Putting the boot in
There is no escaping the fact that OPEC member Venezuela is in a very serious mess. In 2017, the economy contracted by around18 percent, the third year in a row the national output had shrunk by a double-digit figure. Meanwhile, as the far-left government of President Nicolas Maduro frantically prints fresh bolivars, inflation is running at an estimated 50 percent each month. Economics textbooks generally give this as the tipping point for hyperinflation.The government no longer publishes inflation figures for the very good reason that you cannot count the hairs on a bolting horse. When much milder inflation gripped Turkey in the 1980s, the Central Bank governor used to send someone out to the street to find out the black market rate for the lira. Such an exercise is pointless today in...
July 26, 2018

Putting the boot in

Could global warming actually be hot air?
Global warming is now an issue that has engaged virtually all world leaders and legislators and produced a powerful environmentalist lobby that is propelling the drive to reduce the production of man-made greenhouse gasses. At their most dramatic, the environmentalists insist this is not some cuddly bourgeois fad like helping endangered species or protecting rain forests. They maintain that it really is a battle to actually save the planet, to halt radical changes to the earth’s atmosphere that, if unchecked, will have profound consequences for all human, animal and plant life.The urgency of the “issue” of global warming has already had one unfortunate environmental consequence, which is the widespread destruction of debate within the academic and intellectual environment. This had...
July 25, 2018

Could global warming actually be hot air?

The US Congress may ban the Muslim Brotherhood
The US Congress is considering proscribing the Muslim Brotherhood on the basis that it is a terrorist enterprise. Such a move cannot come too soon. But the Subcommittee on National Security of the Congressional Committee on Oversight and Government only began taking evidence earlier this month.One of the most cogent witnesses it heard was Dr. Hillel Fradkin of the Hudson Institute who set out the 90-year trajectory of the MB since it was founded in Egypt by Hassan Al-Banna. The organization had been dedicated to a gradualist infiltration of the global political process aiming, like Hitler’s Nazi’s in Germany, to overthrow the established order once it won power through the ballot box. Fradkin pointed out that its triumph in Egypt had been short-lived, because MB leader Mohamed Morsi...
July 24, 2018

The US Congress may ban the Muslim Brotherhood

Pak elections: Troubling questions
Pakistanis go to the polls on Wednesday with more than the usual worries about the shape of the final outcome.Elections to the National Assembly and provincial assemblies are being held with Nawaz Sharif, a three-term prime minister, in jail. Sharif who, according to a nationwide poll, remains the most popular leader and his daughter Maryam were sent to prison on their return to Pakistan from London last week after being given a 10-year sentence by an anti-corruption court. A popular leader serving a jail term for misappropriation of funds is a rare thing in any country. As such, this should be hailed as a victory for all those who demand probity and accountability from elected officials.However, critics question whether there is something other than an anti-corruption crusade behind the...
July 23, 2018

Pak elections: Troubling questions

What Israel calls itself
Now that Israel’s parliament has narrowly passed a law characterizing the country as principally a Jewish state, how does Israel view itself and how would it like the outside world to see it?Israel’s Prime Minister Benjamin Netanyahu praised the bill’s passage as a “defining moment” when in actuality it is a contentious move. The legislation essentially defines Israel first and foremost as a Jewish state. Israel is not a Jewish state. It can be called the State of Israel, as has long been recognized by the Palestinians, but not Jewish.There are 1.8 million Arabs in Israel. They are Israeli Arabs, many of whom identify as or with Palestinians. On paper they supposedly have equal rights under the law but in reality are treated as second-class citizens. They face discrimination and...
July 22, 2018

What Israel calls itself

Ireland a thorn in Israel’s side
While other countries have issued condemnations or moved to label Israeli items produced in the occupied Palestinian territories, a new bill passed by Ireland’s senate is believed to be the first that would ban the import of products from the occupied lands. That would pave the way for the country to become the first European Union nation to enforce a boycott. The bill in question, which must be approved by Ireland's lower house of parliament before becoming law, prohibits “the import and sales of goods, services and natural resources originating in illegal settlements in occupied [Palestinian] territories.” The offense would be punishable by up to five years in prison and a maximum fine of 250,000 euros. For some reason, the bill does not name Israel but instead refers to an...
July 21, 2018

Ireland a thorn in Israel’s side

Has the EU bowled Google a googly?
IS the European Commission right to have fined Google a record $5 billion for apparently abusing its dominance of smartphone operating systems to ensure that makers installed only Google’s browser Chrome and its own search engine? Back in California’s Silicon Valley pundits suspect that this week’s ruling by EU competition supremo Margrethe Vestager is all about sour grapes and Europe’s inability to rival and challenge the worldwide dominance of the US software giants. Google’s parent, Alphabet is challenging the ruling and the demand that within 90 days it changes its business model to allow smartphone makers to preinstall other browsers and search engines. The American firms argues that there is nothing to stop purchasers of Android phones from downloading and using the...
July 20, 2018

Has the EU bowled Google a googly?

Are chief executives worth the fortunes they are paid?
Top executives do not work eight-hour days. They and the managers below them, who aspire to reach the peak of the corporate pile one day themselves, have punishing schedules of meetings and, most essential to their role, a constant flow of strategic and tactical decisions to make on an almost daily basis.They are supported by personal assistants who organize their diaries. They work with deputies to whom they delegate key parts of the business, but in the end, in the normal course of events, the buck stops with them. Failure can and does cost them their jobs. The average tenure of a corporate chief is less than four years. Company boards are apparently impatient with any leader who damages the mighty mantra of modern management “shareholder value”.The problem is that “shareholder...
July 19, 2018

Are chief executives worth the fortunes they are paid?

Has Trump overstepped the mark?
President Donald Trump is no stranger to criticism. Indeed the constant and often unhinged vituperation from the US liberal establishment actually seems to invigorate him. It certainly played a big part in winning him the White House.But this week’s Helsinki meeting with Russian counterpart Vladimir Putin has drawn flack not simply from the usual Establishment suspects but from Republican party supporters and even from within his own administration. It must be wondered if The Donald has not in fact overreached himself and if his normal off-the-cuff style has not only infuriated many Americans but also produced sly snickers among Putin and his Kremlin entourage.Trump used his wrap-up press conference with the Russian president to launch an attack on those who are convinced that the...
July 18, 2018

Has Trump overstepped the mark?

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