Answer to the post by Mr Rockerduck below. (The Zanzibar Gazette)
I agree, higher taxes most certainly do not cure a recession. But if the higher taxes are followed by an increase in government spending it won´t necessarly harm the economy shortsighted as also private consumption follows from the public spending through multiplicators. Hence also socialistic [...]
Entries from November 2008
November 25, 2008
Re: More Theft
November 25, 2008
More Theft
British Chancellor of the Excequer Alistair Darling’s pre-budget report promises the introduction of a new taxband of 45 % on income over £150,000. Meanwhile, Mr Darling also promises a puny and temporary cut in VAT from 17.5 % to 15 % (The Financial Times).
Mr Glomgold (The Zanzibar Gazette) and I (ZG) have both set out [...]
November 24, 2008
Let Him Rot
A court in Stuttgart, Germany, has decided that a left-wing terrorist, found guilty of nine murders, is to be released after 26 years in prison (Die Welt).
Christian Klar was a member of Rote Armee Fraktion (RAF), also known as the Baader-Meinhof group. He was arrested in 1982. His crimes include the murders of the federal [...]
November 20, 2008
Good Times Ahead
The stock markets are heading downwards again. Guess there’ll be oolated squiggs for lunch rather than eating out until christmas. Western indexes are down typically 35-50 % this year, in other words expectations are for a grand recession. However, even though most macro indicators point towards recession, we have to expect deep sh*t in the near future to justify [...]
November 18, 2008
Teutonic Auto Action
Auto Maker Opel wants a credit guarantee of € 1.3 bn (Frankfurter Allgemeine Zeitung), and gets it (Financial Times). The guarantee is to make sure the present and future endowments of Opel can be paid for regardless of owner GM’s financial situation.
Is this right? Should Opel recieve this guarantee? A possible credit to Opel might [...]
November 15, 2008
Republican Governors Lead The Way
While the Grand Old Party ponders how it can become grand again, the Republican Governors Association is held its annual conference which concluded yesterday. Among the 21 assembled in Florida, there are some real, future and current stars of the Republican Party.
To highlight a few names that can come to influence the future of the [...]
November 14, 2008
Wise Words From W
“History has shown that the greater threat to economic prosperity is not too little government involvement in the market, it is too much government involvement in the market”.
President George Walker Bush, 13 November 2008
November 13, 2008
Glommys Midnight Thoughts VII
Scientists have found that tequila, when heated, forms small diamonds. Elton John once said (or was it Bernie Taupin who wrote it for him?) “It´s like trying to drink whiskey from a bottle of wine”. This doesn´t seem that unlikely after this discovery, and makes me think; What other answers lures in the bottom of a [...]
