Tag Archives: Germany

US Working Overtime Behind The Scenes To Kill UN Plan To Protect Online Privacy

Yeah, someone is working behind the scenes, all right!
(via Techdirt)
fisa
The UN has apparently been considering a proposal pushed by Brazil and Germany, to clarify that basic offline rights to privacy should apply to online information and activities as well.
The proposal is targeted at attempts by governments — mainly…

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Filed under International Econnomic Politics, Laws and Regulations, Technology

Who’s Debt Are You? – Latest Statistics

There’s been some buzz in the markets lately, concerning the health of America’s sovereign debt. The nation owes other countries about USD 5,7 trillion, and about 3 trillion is due this year. Investors are worried that the US won’t be able to borrow much more, at least not to the same low price,  and that big buyers of US Treasuries, like China and Russia, may start dumping their bonds to put USA in a financial squeeze. Well, I wouldn’t worry too much. You see, most countries who are lending money to the American government are receiving huge loans from US banks. The next victim of the debt crisis is probably not USA, nor the EU.

“Claims on advanced economies contracted by $342 billion between end-December 2012 and end-March 2013, mostly due to reduced claims on banks and related offices. This marked the sixth consecutive quarterly decline in interbank positions on advanced economies and brought the cumulative reduction since end-September 2011 to $1.9 trillion. In contrast, claims on borrowers in emerging economies increased by $265 billion between end-December 2012 and end-March 2013.”

Bank of International Settlements – BIS
vkontakte
The Bank of International Settlements (BIS) recently realised new data and statistics on global debt, an interesting oversight on who-owes-who in a world ridden by fear of economic collapse and social unrest. The numbers reveal a picture slightly different from what most people see.
F.ex: European countries owe foreign nations twice as much as the United Nations owe others. And there seem to be several groups of nations, connected through the same banks, but for some reason it is not the countries with the largest debt who are in most trouble.
We already know the US numbers, and the Americans owe most of the money to themselves, anyway… (Federal Reserve, that is.). The 5,7 trillion debt to foreign countries is a relatively small sum compared to the grand total of about 14 trillion.
Elsewhere, the sovereign debt, with all its derivatives, represent a much higher risk.
Europe’s Fab Four
Consolidated foreign claims of 24 reporting banks – immediate borrower basis.
United Kingdom – USD 3,2 trillion.
Germany – USD 1,8 trillion.
France – USD 1,6 trillion
 Netherlands – USD 1,9 trillion.
european-debt
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And who do they borrow from?
United Kingdom:
  1. Other EU bank: 1,5 trillion.
  2. France: 200.200 million.
  3. Australia: 121.577 million.
  4. Canada: 102.963 million.
Germany:
  1. Other EU banks: 1,1 trillion.
  2. France: 198.000 million.
  3. Austria: 37,914 million.
  4. Canada: 23.838 million.
France:
  1. Other EU banks: 714,235 million.
  2. Canada: 24,612 million.
  3. Belgium: 23,536 million.
  4. Austria: 13,442 million.
Netherlands:
  1. Other EU banks: 577,427 million.
  2. France: 156,857 million.
  3. Belgium: 22,746 million.
  4. Canada: 13,722 million.
man-saw-his-fortune-sink-under-a-massive-pile-of-debt
And who have most money outstanding?
  1. United Kingdom – USD 2,6 trillion.
  2. Germany – USD 1,5 trillion.
  3. France – USD 1,2 trillion.
  4. Netherlands – USD 0,8 trillion.
Is there a pattern here?….somewhere?
The BIS writes:

“The latest international banking statistics show diverging trends in credit to advanced economies and emerging markets. Claims on advanced economies contracted by $342 billion between end-December 2012 and end-March 2013, mostly due to reduced claims on banks and related offices. This marked the sixth consecutive quarterly decline in interbank positions on advanced economies and brought the cumulative reduction since end-September 2011 to $1.9 trillion. In contrast, claims on borrowers in emerging economies increased by $265 billion between end-December 2012 and end-March 2013. The expansion was driven mostly by credit to emerging economies in Asia, especially China. In recent years, BIS reporting banks’ exposure to Asian credit risk has increased even more rapidly than their lending to Asian borrowers because lending has been accompanied by a reduction in net credit risk transfers out of the region.”

That means we now have a USD 30 trillion (+) debt bubble in transit between different parts of the world! (At the same time the richest people in the world has more than 20 trillion stacked away in places like Claman Island to avoid taxes.).

Just great….

b791

The Asians now owe other countries – mostly European – close to USD 2 trillion, with China‘s debt closing in on USD 600,000 million.

The rest is as follows:

South Korea: 309,363 million,

India: 304,920 million.

Chinese Taipei: 161,404

Malaysia: 155,500 million

Thailand: 102,299 million

Indonesia:  100,770 million.

Apocalypse

NOTE:

Statistics at end-March 2013 are preliminary and subject to change.

Data are available on the BIS website, via the BIS WebStats query tool, or in a single PDF indetailed annex tables. Developments in the latest data are highlighted in the Statistical release.

Revised data and an analysis of recent trends will be released in conjunction with the forthcoming BIS Quarterly Review, to be published on 16 September 2013. Data at end-June 2013 will be released no later than 23 October 2013.

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Filed under International Econnomic Politics, National Economic Politics

Out of Date – Out of Time?

Is journalism about to become history, noted in the ebooks as an antiquarian profession? There seem to be those who thinks traditional, fact-finding, journalism may already be dead. The major European finacial newspaper, Finacial Times Deutschland makes its last edition tomorrow, December 7. It will be like a funeral.

“News is becoming ever more streamlined. The concept of whole, complete article is out of date.”

Sascha Lobo

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The Financial Times Deutschland is hitting the newstands for the last time on December 7, and the Frankfurter Rundschau is insolvent. Behind this, lies a development that is bigger than the Internet, says media guru Sascha Lobo: news is becoming ever more streamlined. The concept of whole, complete article is out of date.

Food for thoughts her, at www.europress.eu:

“Don’t shoot the messenger” is the English proverb, meaning “Don’t punish the bearer of bad news.” Sure – but it’s hard not to.

The dying of the print media in Germany seems to have begun, and apparently the victims range from the left (Frankfurter Rundschau) to the centre (Financial Times Deutschland) – from the higher echelons including business magazine Impulse, to the lower ones such as lifestyle magazinePrince, which will be sold strictly online as of January 2013.

A lively discussion about the causes, and conclusions that must be drawn, has begun. Often it’s about business models, newspapers and of course the Internet. Less commonly, it’s about how the concept of news itself has changed, whether printed or pixilated.

Behind this lies a development bigger than the Internet. The history of technology is a history of streamlining: apparently, humanity has always striven to make the world fluid – and the Greek aphorism “Panta Rhei” (“Everything flows”) is to be grasped not as a declaration but as a clarion call.

Ironically, printed newspapers, which emerged in the early 17th Century, promoted streamlining in a crucial way; they were much faster at getting information across than the books that had been used until then. Digitisation and networking followed.

Written news therefore, whether on paper or via the Internet, comes in article form, which is the customary way it is consumed. But perhaps that will change, just because the audience also expects that same streamlining here. News gives you the feeling that you are up to date with the latest events. Perhaps it is not the printed newspaper, but the static coverage and the concept of a completed news article that lies at the heart of the crisis.

Brave news world

In the print media, those who avoid the streamlining culture best, are those outlets which remove themselves from mere reportage.

The printed magazine Landlust (covering life in the German countryside), which can be counted as a success, as it covers topics that keep it at a safe distance from the world of traditional news.

The Economist, hailed as a role model in both its printed and pixelated versions, sums up world news events in the print edition in one to three sentences; the remainder of the articles are analyses, background reports and opinion pieces. That is, texts that will help to understand the news process, rather that putting a reporter on them to flash-freeze them at a point in time.

A news article, regardless of the medium, is no longer enough to describe the world. The growing streamlining can be seen on the Internet as well, and for that reason the static article of news coverage we have grown used to has become obsolete. The news process does not tolerate any downtime.

Read the rest here.

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Filed under International Econnomic Politics, Technology