Robert Pringle, chairman and founder of the Central Banking Journal, told RT: "... We rely on pumping up credit to get the real economy moving. And the problem is that we have to pump up the credit too much in order to reduce unemployment. We are going into the same thing again...Obviously we are moving to another boom and bust period. It’s not just the property prices, in many emerging markets you are also getting this. Stock markets are at an all-time high. And yet many people fear a crash. We are gambling immense amounts of money, 4 trillion dollars on the FED balance sheet. ...My book is called the Money Trap because the system is set up in such a way that people, governments, banks, and major actors think that they can do well in such a system with free capital movements, free exchange rates, liberal environment, but they neglect international stability.
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"Changes to student support within existing arrangements; efficiency savings and prioritisation across universities, science and research; some switching of modes of study in higher education; and reductions in budgets that do not support student participation."
Facebook founder Mark Zuckerberg has joined the growing chorus against the proposed anti-piracy bills in the US, saying the two "poorly thought out laws" are not the "right solutions" to the problem of piracy but will only harm the Internet.
Patrick Bons on "... the difference between bogus ‘Africa Rising’ rhetoric as GDP increases thanks to raw materials exports, and Africa crashing in terms of fast-shrinking wealth, especially in resource-cursed countries like Nigeria and South Africa. To fail to acknowledge the distinction is to import from malevolent Northern economists what University of Pretoria political economist Lorenzo Fioramonti calls a Gross Domestic Problem. It means ignoring women’s unpaid labour, pollution, social ills and a variety of other variables that should be measured as losses from net income. The biggest of these GDP-blind factors in Africa is the depletion of natural resources, which when mined or drilled out are only counted as GDP credits on the income accounts, but not as debits, as they should be since a source of future income is now gone. "