Month: March 2009

See The Worlds Newspapers Front Pages

Newseum | Today’s Front Pages | Map View.

The Newseum displays these daily newspaper front pages in their original, unedited form. Slide your mouse over the orange dot on the map, which you can chose or move to, for the front page from there. Click on it, to expand the view in a new page – Very cool

“The Great Disruption”

— when both Mother Nature and Father Greed have hit the wall at once — “The Great Disruption.”

“We created a way of raising standards of living that we can’t possibly pass on to our children,” said Joe Romm, a physicist and climate expert who writes the indispensable blog climateprogress.org. We have been getting rich by depleting all our natural stocks — water, hydrocarbons, forests, rivers, fish and arable land — and not by generating renewable flows.

“We are taking a system operating past its capacity and driving it faster and harder,” he wrote me. “No matter how wonderful the system is, the laws of physics and biology still apply.” We must have growth, but we must grow in a different way. For starters, economies need to transition to the concept of net-zero, whereby buildings, cars, factories and homes are designed not only to generate as much energy as they use but to be infinitely recyclable in as many parts as possible. Let’s grow by creating flows rather than plundering more stocks.

via Op-Ed Columnist – The Inflection Is Near? – NYTimes.com.

Globalization Retreating

“The collapse of globalization . . . is absolutely possible,” said Jeffrey Sachs, a noted American economist. “It happened in the 20th century in the wake of World War I and the Great Depression, and could happen again. Nationalism is rising and our political systems are inward looking, the more so in times of crisis.”

A Global Retreat As Economies Dry Up – washingtonpost.com.

Tom Friedman Is Worried

I’m worried. We’ve just elected a talented young president with many good instincts about how to propel our country forward, extend health care to more people, make our tax code fairer and launch a green industrial revolution. But do you know what I fear? I fear that his whole first term could be eaten by Citigroup, A.I.G., Bank of America, Merrill Lynch, and the whole housing/subprime credit bubble we inflated these past 20 years.

I hope my fears are exaggerated. But ask yourself this: Why couldn’t former Treasury Secretary Hank Paulson solve this problem? And why does it seem as though his successor, Tim Geithner, won’t even look us in the eye and spell out his strategy? Is it because they don’t get it? No. It is because they know — like Roy Scheider in the movie “Jaws,” when he first saw the great white shark — that “we’re gonna need a bigger boat,” and they’re too afraid to tell us just how big.

via Op-Ed Columnist – Obama’s Ball and Chain – NYTimes.com.

Thomas Friedman’s Five Worst Predictions

The Formula That Killed Wall Street

In the mid-’80s, Wall Street turned to the quants—brainy financial engineers—to invent new ways to boost profits. Their methods for minting money worked brilliantly… until one of them devastated the global economy.

via Recipe for Disaster: The Formula That Killed Wall Street

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Raul Prepares Cuba For Casto’s Death

”I think this is Raúl definitely trying to put his own stamp on the government,” said Sandy Acosta Cox, a political analyst at ECHO-Cuba, a Miami nonprofit that offers aid to evangelical churches on the island. ‘I think this demonstrates that there were factions within the government: Fidelistas and Raúlistas. . . . Positioning key `Raúlistas’ in place, especially before the major announcement everyone is anticipating — Fidel’s death — ensures that there won’t be a power struggle between the two factions.”

Raúl Castro took over from his brother in the summer of 2006 but was not officially named president until a year ago. He took office under the pledge of efficiency, and often used his rare moments on the public stage to blast the Cuban government’s notorious wastefulness.

”This is Raúlismo at its best,” Mora said. “I don’t see ideology. I don’t see power politics. I see Raúl being Raúl.”

via Cuban government undergoes massive restructuring – This Week in the Americas (stories) – MiamiHerald.com.

Why The US Won’t Become France

Travel from America to Europe, try a bit of shopping or dinner in a restaurant, and the first thing that strikes you is the chronically lackadasical attitude to service. It’s what Brits call a “job’s worth”—as in that’s more than my job’s worth so I’m not going to lift a finger to help you—attitude. It could not be more different from the business culture here.

It is commonly reported, though never actually confirmed, that George W. Bush complained to Tony Blair that the problem with the French is that they didn’t have a word for entrepreneurial. (If it’s true, don’t we miss him for it?) Myth or not, there is substance in Bush’s critique. This nation of immigrants is more go-getting and individualist than their European counterparts. Many had to have the independence of spirit to get here in the first place and that drive has dictated their attitude to business.

From a policy point of view, America is far more likely to follow Sweden, which nationalized troubled banks in the early 1990s, cleaned up their balance sheets, and then auctioned them off again.

via America Will Never Be Europe – The Daily Beast.