America’s political power and influence will likely decline in parallel, although more slowly. This article argues that it is better to embrace this as a reality, rather than to seek ways to reestablish America’s dominance. http://www.ft.com/cms/s/0/0c73f10e-f8aa-11e0-ad8f-00144feab49a.html
Daily archives: October 18, 2011
Strike lifts copper price
Strikes at mines in Indonesia and Peru have led to the price of copper for three month delivery on the London Metal Exchange rising more than one percent. http://www.ft.com/cms/s/0/91ced962-f8a6-11e0-ad8f-00144feab49a.html
US debate on rich/poor divide continues
Temporary measures to raise States’ top levels of income tax, introduced in response to the recession, are expiring. But support for extending them is widespread, even among some high earners. http://www.ft.com/cms/s/0/e80d6b60-f6a1-11e0-9381-00144feab49a.html
US mortgage delinquencies increase
Banks’ third quarter results were hit by expected declines in investment banking, reflecting turbulence in global markets, and also by increasing failures to meet repayments of consumer debt, including mortgages and credit cards. http://www.ft.com/cms/s/0/c1865438-f8d2-11e0-a5f7-00144feab49a.html
“Germany will never leave the Eurozone”
And neither will Greece. An interesting perspective in this article by Ian Bremner. A standalone German currency would be far stronger than the euro. If Germany were outside the eurozone its European neighbours (its largest export market) would find it increasingly difficult to buy those exports, and Germany would face a similar problem to that …