politicians and stockbrokers care to think in short time periods. The former the rhythm of the monthly surveys of voters, the latter in the rhythm of the short-term statistical fluctuations in the prices that it applies to rapid capital movements to transform into profits. No matter whether the real economy goes straight up or down.
(Image: Wikipedia ) It obscures the second quarter took place mini boom in annualized 9.1% in the exporting nation, Germany, the gray cells of all relevant groups. However, the longer-term trend has of course nothing changed. The problem lies where it believes it can absorb massive support to the veer more and more thinkers. writes the Finanzial Times Germany under the title "Worse than before the crisis" over the current situation of not-super power USA: "The Flow of Funds of the Fed for the second quarter, as it would show that the financial devastation of decades, of course, not quarters. can be forgotten. And they cast doubt on the hypothesis of a slow recovery. "
And on to the official figures: "According to the latest Financial accounts of the Fed, the debt of the private U.S. households in the second quarter of 2010 with 13 450 billion dollars have been higher than in mid 2007, when the financial crisis in consumer debt of 13 403 billion . dollar was broken open. The same applies to non-financial companies in America, which now have loans of 10 909 billion dollars, compared to 9949 billion dollars in the second quarter of 2007
you wonder more about it funny on the other side of the counter looks like. "Only the U.S. financial sector has its debts reduced during this period on balance - from 15 173 to 14 744 billion dollars." Oh wonder who would have thought, and what remains of the average citizens and taxpayers: "In contrast, the tradable debt. the state of course explodes - to 3988 to 11 094 billion dollars. And since the nominal GDP since mid-2007 just increased by four percent, the debt of all nonfinancial . Sectors in relation to economic output of 217 increased to 243 percent ".. Oops
The consumer is of course for all straight: " It is particularly because of stock market losses, the net assets of U.S. consumers in the second quarter, meanwhile, fell significantly . The equity markets have recovered since the end of the second quarter, slightly, but that's small consolation when you consider that has shrunk the net assets of the consumer versus the second quarter of 2007 to one fifth or 12 253 billion dollars. The fact that consumer confidence will not improve partout (rather the contrary), in addition to unemployment should also be due to that fact. "
same applies to the non-financial corporations, which then are the companies of the real economy, companies outside the banking sector. "added Meanwhile, the net assets of non-financial corporations has stabilized, similarly as before that of the consumer but is also in this sector the net assets by 21 percent, or 3308 billion dollars under the old peak. This is a factor that is rarely considered, depending when it comes to the lack of investment in U.S. companies. "
The conclusion of FTD. "All this should help the fact that many economists of a (too?) Go slow recovery - Where they exclude a relapse into recession, however, if only because the investment and the "I-grudge-me-what-spending consumers are already so low that they hardly could still fall. What not to say the economists, however, is that a (too) slow recovery is not a stable equilibrium, especially not at a lower employment of 17 percent, because a further rise in unemployment threatens. This, however, could trigger new turmoil in the markets. This, in turn, the budgets of consumers, firms and financial sector would deteriorate. And whoosh, we have the next recession. "
How true, how true. For all the accuracy FTD-analysis, the cause is still too little understood. is of course the fundamental reason for this erroneous growth model of the IMF . Under that would need to artificially inflate the financial sector directly lead to a recovery. Which of course does not work, because all the artificially created money cries out for additional returns that ultimately lift the GDP must always. And for the politicians to open ears dummgeschwätzten meets with the honor that gift with other nags and thus exacerbate the problem. The latest million bonuses bankrupt bank HRE , of course, financed from taxpayers' hard-earned GDP just the exact insured that the men work with hundreds of billions guarantees throw, as a prominent spotlight.
That there was vote can not fell , already the FTD on "How far the banking world only concerned with themselves and lost contact with the ground has shown, including their salary to justify the high wages are compensation for. the increased job insecurity in the oh-so-hard Investment Banking. But, but, believe in the cash really. On average level of decision making on average around 200,000 €, because it must be taken so constantly with job loss. by the way, if it occurs, with one to two months' salary compensation per year Seniority is sweetened. But of this apart: How many bankers are unemployed today, shortly after the largest financial crisis of recent decades, actually? Few, very few. The labor markets in New York, London and Frankfurt are almost deserted, the hard salary increase because of labor shortages, and Germany built many investment banks and brokers from the second series of their teams even. "
It must be the only even imagine what it would be normal in the world of work. Here come the juicy bonuses for employees and require them to do only the work for which you have been hired and already be paid for strong, successful or not. Imagine such a constructive refusal to work in connection with extortion for steel workers before what would be the social reaction? You may now like to once imagined. Not so with the support of the pinstripe money elite, who can be described without much doubt, as a state within a state. Click to find such impulses open hearing, the money will quickly loose made and the protest of the decent is hardly worth more than a marginal note in the local section of the press. Sun says the FTD: "This much has gone out of balance in all other respects, the financial institutions happy with their capital ratios. Warehouse as they want. Since late 1998, the total of the banks in the euro area to 17 895 to 32 075 billion euro has risen, while nominal GDP increased only at an annualized rate in 2895 to € 9157 billion. But the loans to the states and the private sector in the euro area have exploded around 8628 to 16 329 billion euros. .. Cheerfully Banks are the denominator for the calculation of capital ratios, risk weighted assets, together clip so well. A considerable portion of their assets they wanted to not even have given "
The only problem is that you get the assets in any given case, but in vain. For interest and compound interest and all assets, and no matter how meaningless and absurd as in the derivatives business by the GDP Finanzpushing be called rigorous. And when things still not working, then the tax-payers for the "losses" into the breach. For what exceeds major international banks to move assets to GDP's of small countries far and even with (still) strong states, like Germany, they already exceed every possible policy space.
What is in the FTD in particular, and in politics and economics in general, has still not understood, is the simple fact that economic liabilities, in connection with untotbaren-interest capital, non-degradable matter of principle. They can only be larger, not less. This one does not understand is all the more surprising as it stands not only been writing on every dollar bill explicitis explicitly on it, but to each host have money without complex mathematics should be familiar. Our money is only covered debt, between assets and liabilities is complete (!) Identity.
Economic debt reduction is possible only by relative or absolute wealth destruction!
As simple as this relationship is in fact, he is still far from the general perception. The article says the focus is highly revealing that deals with the book of the Ex-Finance Minister Steinbrück : "parallel societies exist not only at the lower end but also at the top of the income to live there ... those who say: We do not need the state, each € tax payment is too much. Public services, we need not, we can buy them privately. "The company is not threatened by right-or left arm, but by the protagonists of the system itself" It is the privileged, through excess, the lack of sense of balance and proportion, by an enrichment mentality saw off the branch on which they sit. Them a sense of social alliances missing down to integrate losers, "said Steinbrück."
could "People realize more strictly in the upper class," that conduct their excessive profit expectations for the destruction of the market economy and that their personal income trends continue not so "common good: Of course the man is absolutely right, and he speaks from experience when he says.. be prescribed but not by laws. "This is only a broad debate".
That this debate at present still impossible is was safely back on lobbying, advertising and public relations of the financial industry goes to show, above all, but the reader reactions to this article, in the the people's voice articulated. The study should any one time. Because they show the shocking extent of economic ignorance, and the amazing fact that the readership is protective and gnashing their teeth presents the love rich. Constant dripping wears not only the stone but also the brain. With the notion of "rich" completely watered down and appear unreasonable. Since all the pros and misjudgments of the last century trying to assign only even the specter of a monetary and financial reform on its own. Which comes sooner or later either way, you hesitate, it can only out. Where is it only prolonged the misery and worse. You should first deal with the concept of "rich" and an appropriate definition. One must distinguish first between relative and absolute wealth. Relatively rich, especially when one looks out sometimes beyond the borders of Germany, of course, anyone who can eat with his wages and his loved ones at the end of the month still has a small surplus, which he can possibly create in his bank account. Are relatively rich in any case people like Steinbrück or Sarrazin, who have as a (former) top officials of a safe and erkleckliches salary or pensions .
But you are not representing the "rich" at issue in the discussion going or should go. Without their VIP status would such people with the really rich, at best, transmitted through the service entrance to the house. That misunderstanding is often discussed on the so-called "wealth tax" , the underlying definition is actually quite irrelevant. If such statements fall as "The chairman of the CSU parliamentary group in the Bundestag, Peter Ramsauer, called the" wealth tax "as" economically senseless envy tax "." , so it's not wrong. Because a wealth tax, which begins in revenue from missed work, economically its goal completely.
course you can abknappsen tax at the high income or something, because this relative to middle-income de facto favored set ceiling for social security contributions, but these are economic Peanuts. They are namely, benefits or even here, only part of the GDP's, you must protect from the harmful effects overflowing capital pressure. Really, really rich are people who you relate well above-average income predominantly totally unemployed, namely the returns on investments.
The tax is in fact only really an injustice in the inequality of employment and capital income. makes it the worst of it well-earning middle class close to the ceiling of social security. For pay, the employer gross (non-employee gross) expected, already around 60% taxes in general funds. These are but the excise tax, because in contrast to rich people to use up your money until the end of the month almost completely. The tax burden is thus around 70%. From the absolute bottom of the lion's share of the government's share of social contributions, income tax and VAT will be drawn.
The capital is, however, gone fine. First of all, at least the interest earned should be expressed in income tax, to the peak at 45% are subject to. Actually need only 25% paid. Completely legal, and social security contributions to mention. But that's not the lower end of the story. Even the 25% fall in fact not, as many financial products are, if they last longer than a year, even tax-free. Sun posts a year (depending on the year fluctuating) over 500 billion € 15 billion, only interest income tax receipts over. And I have the inheritance tax, which strictly speaking does not belong to already be included. So just about the rotation of silly 3%. De facto, and since we are talking only about the real numbers and not the fantasy figures of politics and lobby groups, the GDP-makers more than 20 times such a heavy burden, as the acquisition of free plant kingdom.
And you're more the "burden" is still dissatisfied, and make it seem easy to convince people and politics, a further taxation of capital activity is incredibly dangerous for the people. And the policy of biting, pumping more and more money from the bottom up, and is surprised that when people arrive nothing but more taxes, tax and fee increases while spending and cuts in benefits for the residents of increasingly strapped municipalities . Without a massive fiscal approach to the sizes of assets but a permanent reorganization of the state is impossible.
BRD goes DDR: Who had the good fortune of late birth and the GDR did not, he will soon be able to experience how it looked there, following the more the state could not pay its infrastructure. Where in parts of the United States today looks like when you're time away from the banks and skylines go. For there, the deficit has long been as enormous as the bankrupt state of Greece, and the creativity in the design of the official GDP data, not less. The alleged growth of the nineties, there are still only on paper (hedonisierte statistics), in truth, there was stagnation and decline.
Only when the true causes of the crisis are on the table, then a rescue in the last minute, though in pain, doable. Otherwise, we are experiencing the same decline as all civilizations in history. Unlike in the past but today we would make the information and data to a targeted action possible. Whether they are used, or at least to understand it, I think because of the classical dynamics of society and the opinion, however, for more than questionable.
