TEc - What Germany offers the world

The more I read on the current situation affecting the Eurozone the more I realize the folly of it all.
Each country is of course, to a relevant extent, one of a kind. There lies the challenging beauty of it.
There is also considerable multiple overlapping between neighbours, groups of countries or at a higher level even regionally. The EU can appropriately be cut up into several regions using multiple criteria although I believed the primary goal used to be to pull ever closer together.

Having said that, the major issue - as long as the EU remains an essentially loose bloc with common political institutions - is for national governments to fulfil their primary obligation: govern as best they can within generally accepted standard rules of good government for all time.
Over-indebtedness is but a predictable consequence of a spent growth model that never should have been in the first place.
Excessive borrowing was bound to come to an end raising largely self-answered questions of what the money was used for(?)...

If the Eurozone is not to become a transfer union like a Federal State would or the ECB a truly full-fledged central bank, i.e. catering to the individual needs of 17 States, then a deep rethink of the whole Eurozone system will remain topmost of the political agenda for years.

No matter how it is viewed the Eurozone has served Germany right for reasons that are cleverly borne in the text. In-house societal strengths, mindful government and a host of factors nearly all played to Germany's favour over a decade of Euro merriment(?)for many others.
Germany's model is not exportable or adataptable wholesome to different countries/societies/cultures nor would that be desirable.
Quite a different matter is the need to have medium-to-long-term sensible policies implemented across the Eurozone by responsible national governments accountable to the citizens who elected them first and foremost.
Here I find Germany can provide powerful insights to ruling political and business establishments in many a country.

TEc - It'll cost you - On Scotland's independence referendum

A small but not-so-small proud nation of 5-6m people whose contribution to the greatness of Great Britain can in no way be underestimated readies itself for an historic decision.
If it should signal the end of the 3-century long Act of Union with England then the more likely outcome will also mean the dissolution of modern-day United Kingdom of Great Britain and Northern Ireland.
The political and administrative consequences are of course relevant but to a newspaper like 'The Economist' the economic fallout must be dealt with in earnest beforehand.
Are average Scots reasonably well documented on the subject or will they get carried away by overblown feelings of cultural heritage and self-identity?

Two years is quite enough time for there to be serious debate within Scotland on which path to choose.
Scotland's economy has had multiple strengths over the centuries, remaining to this day basically sound and a diversified one.
Oil features topmost but is not overwhelming.
Some of those strengths originated from its close interaction with the UK as a whole.
It is obvious that relations with England have faced many ups and downs as would be expected of neighbours showing such disproportionate demographies.

Looking in as an outsider with little knowledge of Scotland's main grievances towards England I am led to believe Scotland has done, on balance, remarkably well as one of the constituents of the UK.
Not just economically.
Then again I am mostly ignorant of how deep nationalist feelings for political independence run amongst common folk taking into account their kinship with the English nurtured over so many years now.
Besides, devolution of government has meant that Scotland already enjoys a great degree of autonomy running its own affairs.

Ultimately it will be the Scottish people's call.
Hopefully it will be one taken in full knowledge of the pros/cons as well as the consequences.

TEc - Tax me if you can

A lot can be inferred on quick glance over the charts.

First of, it should be noted that the overwhelming majority of Americans or nearly 79% are left out of this brief analysis.
Second, the striking reading is that there has been significant convergence of tax rates between income groups shown.
Lastly, while rates for middle-income earners have risen slightly within the 15-20% range, high-incomes saw a decrease with very-high-incomes seeing the steepest decline of all from 1960.

There is plenty policymakers can work from to produce a fairer tax system that restores balance to American society as a whole.

Warren Buffet is a sensible voice calling out for that which should seem obvious to most.
The crux of the matter is not about the share rich households already contribute to Federal taxes (+25%) or Federal income taxes(40%).
Progressively upward tax rates have always formed an intrinsic part of income tax philosophy in so-called advanced/civilized societies, indeed as a presupposition to them being so.

TEc - China's military rise

China's inexorable rise is raising eyebrows in much of Asia and in the US. Unsurprisingly.
'Rise' as used here is meant as the multiple expression of increased Chinese importance in and to the world as we know it.
Following three decades of growing economically at break-neck speed, a military budget that would have looked smallish only a few years ago is now gathering volume.
The absolute value is already impressive even if still dwarfed by the USA's much larger but if a military version of the PPP measure is adopted then China's becomes greatly enhanced in every way.

All countries around it and further afield will have to live with the reality of an upcoming superpower whose intentions are to be deemed as peaceful. For a start.
History, however, lends us evidence to show that powerful nations may at some point be led by misguided rulers who take advantage of time and circumstance.
This is why I have always held the view that States/countries - large and small - should pursue credible armed forces proportional to their demographies and economic weight.
Armed Forces are not meant to wage war against an external enemy only, they also provide gainful employment to thousands (millions in China's case) while representing a major stabilising force internally, responding to a chain of command, underpinning a structured society.

I do believe Chinese leadership will have much too much to busy themselves with in decades to come. Wealth creation, sorting out internal economic imbalances while providing for the country's massive population will keep China's government focused.
Besides, China has historically not been an expansionary entity having itself been subjected to foreign invasions over the centuries.

At worst Taiwan remains a tricky sticking point with America. Nonetheless, growing interdependence between two pairs - China/US, China/Taiwan - will in my view ease the contention paving the way for a future settlement agreed to by the three(?)...

It is useless to foretell the future but a changing world order will bear witness to many more changes across multiple areas.
Each country must play its part.

TEc - Keeping it to themselves - Oil price woes

A little talked about topic now neatly exposed in this graphic description.
To me it has not come as a surprise although levels of domestic consumption in relatively thinly populated Middle East have reached amazing heights.
True petrol is cheaper than water in much of the region which backs up part of the story. The other part is explained by massive gas-guzzling machinery in the broadest sense and, in all likelihood, sheer waste.

Time and again there's talk in the air to justify rising oil prices from tight markets to ever increasing demand, China being the main culprit.
Fact is, despite on-and-off disruption to supplies from a set of producers - Iraq, Libya, Nigeria and now Iran - global supply has so far kept up remarkably well with global demand.

Then the real reason for pricier oil at source is down to perceived trend demand and speculative gains ever present in commodity markets.
Time for Saudi Arabia to kick in opening up the taps to check prices once more.
Ultimately the goal should be getting them down to within the US$100-110 range.

TEc - Short, victorious war - Faraway Falklands

The Falkland's war was Great Britain's late 20th. century moment of glory. It brought the nation together following a decade of internal strife and decadence to reminisce the imperial aura of a bygone era.
Short it was, but the fact a taskforce was quickly assembled and dispatched halfway across the world to recoup windswept rocky islands full of penguins spiced it all up and earned Britain near universal admiration.
And yes there was bloodshed, pain, tears, ships sunk, planes downed. And the iconic Atlantic Conveyor whose precious hardware never arrived on scene.

The logistics of the operation was impressive but the effort did pay off.
In less than 3 months the Union Jack was proudly flying again in Port Stanley.

The Argentinean side of the story never fully emerged, except for the losses sustained by its armed forces. Argentina's Air Force put up a brave fight. Therefore they deserve a word of appreciation strictly from a military viewpoint.
A humiliated military dictatorship came to an end, democracy reinstated and Argentina was left to lick its wounds.

The longstanding claim to the islands, however, has not been dropped.
It arouses Argentinean folk and elite alike for it is not about regime or internal politics.
National pride and sovereignty define deep-seated feelings towards Las Malvinas.

The history of nations goes through ups and downs and Britain's grip over the Falklands now seems firmer than ever.
If oil starts flowing out then the islands might even pay for themselves entirely.

Will Argentina's hour of glory ever come?

TEc - Starting to worry - Spanish troubles

Thanks for your kind compliment.
Indeed I am Portuguese who writes under his own first name and surname.
No pseudonyms when discussing public issues or issues of public interest that affect us all - at national and supranational level - one way or another.

Unfortunately, as you rightly point out, there is a lot of what I would consider primary views expressed everywhere that are most often wide off the mark. Many people seem unable or unwilling to dig a little deeper into relatively complex matters preferring to dwell on clichés and age-old popular antagonisms instead!

Modern Spain as an historically rich and great country that it is will overcome today's economic woes.
It will do so faster if relevant people acknowledge major stumbling blocks placed in its way from within, working efficiently to identify and remove them.

Blaming the Anglo-Saxon world on the cheap is to elevate them to a level of importance they no longer truly have.
On the other hand, acknowledging their objectiveness, where found, could help dealing with some of the country's inborn problems.