Charlie Rose

Capgra  03/02/2012 02:19 PM Report

6:48 Just to clarify: Sweden does NOT want to join the EURO.

vongleichent  02/07/2012 01:44 PM Report

I think Britain is better off not having the Euro. Yes they are isolated for now. Just wait when the domino effect is happening when countries like Greece are going to default. At that point the Euro might break up.

Ricardo_Amaral  11/03/2011 04:36 AM Report

Correction:

The European financial and economic meltdown might be the final trigger that will set off a massive meltdown of the US economic and financial system - and the end of an era, and the closing of another major chapter in world history.

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Ricardo_Amaral  11/03/2011 04:33 AM Report

November 3, 2011 - I posted the following in Brazzil magazine to clarify a question raised by a reader regarding one of my postings on that Brazilian magazine:

*****

Reply to Hugo Santos

written by Ricardo C. Amaral, November 03, 2011

Ricardo: Hugo, you missed the point from the above postings. I wrote the following:

We are already in the first leg of another Great Depression - the world economy is going to hell in a handbasket at the speed of light.

The good news is: there are 2 countries among the G-20 major economies that will not collapse as much as everybody else - and Brazil is one of the 2 countries.

No - I am not kidding.

Anyway, the other country is: India.

By the way, this new "Great Depression" it will be a lot worse than the one they had in the 1930's.

*****

As the global economy and financial system goes into a meltdown mode - "A New Great Depression" - which is going to hurt very badly most of the G20 country economies including China, the USA, and Germany - there are 2 countries that will be able to survive a little better than the other ones - Brazil and India.

The economies of China and Germany will be affected and have a major negative impact because over 30 percent of their economies depend on the export market. The USA economy and financial system will meltdown because the US dollar it will be repudiated as the main foreign reserve currency as the US economy and financial system meltdown.

No more free lunch from the world to Americans and their bankrupt and collapsing financial and economic system.

It will be an economic nightmare for all the G20 countries including in Brazil and India (one of the G20 countries is represented by the ECB).

But at the end of the day after the dust settles of this massive economic and financial meltdown and collapse that is underway, the 2 countries that will survive the best from the ashes of the G20: it will be Brazil and India.

The economy and financial system of Europe is imploding. The economic and financial system of the United States it has been in a coma and is surviving based on artificial means, massive US government intervention, and money borrowed from foreign countries including China.

If the US dollar were not the main foreign reserve currency, then the US economy and financial system would have had a meltdown and collapsed just like the Soviet Union did years ago.

The European financial and economic meltdown might be the final trigger that will set off a massive meltdown of the US economic and financial system - and the end of an era, and close another major chapter in world history.

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Ricardo_Amaral  11/03/2011 04:30 AM Report

Yesterday I posted the following (regarding the G20 Summit in Cannes, France) on the Elite Trader economics forum, on Facebook, and in Brazzil magazine:

Sneak Preview: G20 Summit on November 3–4, 2011 in Cannes, France

The Group of Twenty (G-20) of Finance Ministers and Central Bank Governors at least they made one correct decision regarding the location of this G20 Summit on November 3–4, 2011 in Cannes, France.

The location of the meeting has a special meaning, and convey a subliminal message to the rest of the world about what is expected of being accomplished on this meeting in Cannes, France.

Cannes, is best known for its annual film festival – movies, the world of make believe, the world of illusions. The perfect place for the G20 to stage their latest drama – A Greek tragedy.

This Greek drama has already various sequels on the pipeline which will reach its climax with an international monetary system meltdown.

One of the main attractions of this G20 Summit it will involve China and the US$ 150 billion dollars that Nicolas Sarkozy hopes China will supply to entertain the audience.

China will participate in a simple act a magic trick – Nicolas Sarkozy will show to China how they can make the US$ 150 billion US dollars disappear forever just like that – 1, 2, 3 gone.....

*****

http://www.g20.org/

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JohnGelles  11/02/2011 06:18 AM Report

The President with the power and authority to protect the American people from murder by obvious enemies, with awesome weapons invented for that purpose, is issuing executive orders to protect us from ourselves and our elected Congress -- in micro-measure as far as spending goes.

Sharks says we, (perhaps with executive help from our President) would do well to empower families with two parents to earn their keep with a single job guarantee. This would provide at least one stay at home parent for the children we expect to rule this nation wisely in the future.

No sane person can say no to Sharks -- at least for the time it will take to do something better for this nation.

One way to do the change above is via loans to any parent who needs and requests one -- to accomplish the purpose of the change.

The loans would be interest free, in monthly amounts requested, not to exceed one thousand dollars, whose cumulative balance does not exceed income and payroll taxes previously paid by the parent within three years before the loan.

Need would be established by the borrower by simple declaration.

Repayment of loans in affordable installments would be deferred until it was requested and would be in the public interest.

This stimulus lending program would supplement the current executive orders intended to speed recovery and protect the industrial might of the United States and the freedom of its people.

[ List of recent related shows: http://www.ustaxreform.us/.crs.htm ]

SharkswithfrikingLazers  11/02/2011 02:16 AM Report

CR—what are the great stories?

A: those that are counterintuitive. South Carolina's foreign investment. Silicon Valley.

(The great stories involve an individual making a positive change for all of us in our world of 7 BILLION.)

CR—what could go wrong in China?

A: more freedom and more wages. Changing to a demand market will be difficult.

(Yes, and air that you can cut with a knife with water that will first melt the knife.)

SharkswithfrikingLazers  11/02/2011 02:10 AM Report

'Globalization and technology have taken this huge swath of Americans' jobs.'

Yes, so do we still need to have both parents work or instead find a way for one parent to stay home and still have a middle class lifestyle?

Cut unemployment by finding a way for families to live on the income of one wage earner. That is without crashing the real estate market first.

We hear about the supply side but not a way to cut the demand side.

SharkswithfrikingLazers  11/02/2011 02:04 AM Report

Is it an austerity program if I weigh 500 pounds and need to lose weight?

The details of Greece, and how they handle money, suggests 600 pounds and a long, long overdue diet.

By the way, just wait until America has to go on a diet--not as a metaphor--but for the 74.6% of Americans who are overweight or obese.

http://en.wikipedia.org/wiki/Obesity_in_the_United_States

JohnGelles  11/01/2011 08:06 PM Report

Lionel Barber is back in England as editor of the Financial Times. He did mention GLOBALIZATION (of the labor market) and REVOLUTIONS IN TECHNOLOGY (that threaten the labor market) -- so his testimony today may help us find jobs and recovery in home construction and wealth, before the new decade expires.

But the voice we want from the FT in London is that of Martin Wolf:

..... Martin Wolf "was also placed among the world’s 100 leading public policy intellectuals by the British magazine Prospect and the US magazine, Foreign Policy in May 2008. He won the Ludwig Erhard Prize in 2009. He won the “Commentariat of the Year” prize at the inaugural UK Comment Awards in October 2009 and was joint winner of the 2009 award for columns in 'giant newspapers' at the 15th annual Best in Business Journalism competition of The Society of American Business Editors and Writers."

..... (Above quote is from the FT, London.)

Martin Wolf is the voice of Keynes brought up to date by events in this last half-century. DEMAND - YES. And SUPPLY - YES, and money enough to allow each to support the other -- and both to support jobs, wages, prosperity and entrepreneurial capitalism protected from deflation and too much inflation.

These issues, jobs, wages, supply, demand, economic democracy -- all count. Chit-chat around their edges is hardly worth hearing at all.

Charlie Rose is forever looking for NEWS. He is a journalist of sorts. The DEFICIT IN DEMAND is not NEWS. It is only the HEART OF THE MATTER.

So, now we are treated to REMnant:

..... "As I said yesterday and have for quite some time, it would be better for everyone if the Chinese bought foreign goods instead of foreign debt."

This idea is appended to his comment -- naked and without a hint of whether Keynes or Hayek, or history or futurism, have anything to contribute.

So I will agree China may not be asked or allowed to become the manufacturing arm of Chimerica. Both the USA and China must develop high technology production, jobs and wages, via import certificates, quotas or common sense monitoring and agreement, such that the religion of free trade is abandoned in favor of what works for democracy, especially economic democracy, in the land of Washington, Franklin, Lincoln, Roosevelt's, YOU and ME.

Franklin recognized, and Lincoln too, that money must be plentiful to grease the wheels of industry. No rich person ever disdains the desire for more money just because he's loaded.

Poor people do lose their productive juices because they are enslaved to debt and unemployment.

Many people are afraid to finance prosperity for the least of us because they see it as an invitation to higher taxes.

We must break the connection between taxes and government. Government is a source of money when markets do not create enough.

People like REMnant see only hyperinflation when government follows Franklin into the money supply business. And such people have a point.

Obviously, if you create money you must SUPPLY via the market and the government all the things MONEY must buy that end up as a shortage not an excess.

Excesses are sold at a loss and their continued production is slowed to a walk and terminated as wise and necessary. But we do not aim for a perfect fit or balance -- we err on the side of plenty with subsidies focused where needed in the public interest.

Above all we aim for a surplus or excess of jobs and opportunities for our neighbors and all children benefit from past success.

Is a Utopian monetary system of supply beyond our power to elevate logistically inspired cost accounting above profit as final arbiter of how we vote? I don't think so. Unfortunately, too many in the center accept a monstrous Internal Revenue non-system (really an abortion) as given and want to tax people with the money power to buy the center and steal to their heart's content. We could stop their stealing if we would stop our slobbering when it comes to money reform.

If we enrich the poor to reflect technology and common responsibility for the future, the rich may manage very great fortunes inside the private sector. These will do no harm if the public interest is served by both government and market activities. America must again be the arsenal of democracy -- to achieve the aims of the PREAMBLE and the SECOND BILL OF RIGHTS and to be prepared for nature's challenges because science has added to them as well as helping to meet many.

REMant  11/01/2011 11:02 AM Report

I liked this analysis a lot better than Friday's. And he didn't talk like an Ameriphile. I am not sure tho how many of his compatriots appreciate the Cameron-Clegg govt's achievement, in or out of their parties. I was dismayed by the B of E's recent "quantitative easing."

It may have been announced after this was taped, but the Greek govt said it would seek a referendum on the latest bail-out package, throwing the whole thing into confusion.

I can probably criticize the Germans as well as Michael Lewis, but you have to commend them (and the Japanese before they became victims of their success) for their sense of community and justice, as well as, work ethic. All the countries we admire share that, including some of the most bureaucratic and socialist of them. Sure the Germans collect a lot of benefits, but they also give their starting apprentices a file and a piece of metal and tell them to produce a perfect cube. We don't even have apprentices. It's why when we went looking for settlers for Pennsylvania and the Northwest Territory we looked for them in Germany (as well as, why they were the backbone of the Republican Party and why two Democrats went to war against them).

The Japanese have just stupidly attempted to shed some of the rise in value of their currency caused by the printing presses in other countries by printing more themselves.

As I said yesterday and have for quite some time, it would be better for everyone if the Chinese bought foreign goods instead of foreign debt.