Entitlements

The Leaders of Weak Southern European Countries Keep Blaming Berlin Imposed Austerity As The Cause Of Their Economic Disasters – They Know Better; But It Is Politically Expedient To Feed This Lie To The Public

Posted by on May 3, 2013 at 11:45 am

By Paolo von Schirach May 3, 2013 WASHINGTON – I wonder whether the elected leaders of perennially weak and now impoverished Southern Europe  really grasp what is going on in their own countries. They routinely talk about their totally indigenous economic troubles as if they were unexpected calamities imposed on them by insensitive and selfish Northern European partners [...]

Critics of Rogoff-Reinhart Argue That High Levels Of Debt Do Not Produce Ill Effects – So, Let’s Go Ahead And Borrow Some More

Posted by on April 30, 2013 at 12:33 pm

By Paolo von Schirach April 30, 2013 WASHINGTON – Economists Kenneth Rogoff and Carmen Reinhart came up with a major book, (This Time Is Different: Eight Centuries of Financial Folly), in which they pointed out how very large levels of structural public debt undermine economic vitality. Well, it turns out that some of the calculations used [...]

The Real Story Of The Italian Elections Is That Monti Is Now Irrelevant – There Is No Real Pro-Growth Political Force – Populists in Charge

Posted by on February 26, 2013 at 10:53 am

By Paolo von Schirach Related stories: http://schirachreport.com/index.php/2013/02/17/italys-chronic-problems-deeply-entrenched-do-not-expect-changes-with-a-new-center-left-government-even-if-backed-by-reformist-mario-monti/ http://schirachreport.com/index.php/2013/02/03/with-berlusconis-rise-in-the-polls-expect-a-fight-between-right-wing-and-left-wing-populists-in-italy-montis-centrists-will-get-little-support-very-low-chances-for-real-reform-after-these-elect/ February 26, 2013 LUSAKA, Zambia – Regarding the incredibly disappointing outcome of the Italian political elections, allow me to say “I told you so”. (See links above to related stories). I predicted that the elections would decide nothing; and I also predicted that Monti’s improvised coalition of serious [...]

With Berlusconi’s Rise In the Polls, Expect A Fight Between Right Wing And Left Wing Populists In Italy – Monti’s Centrists Will Get Little Support – Very Low Chances For Real Reform After These Elections

Posted by on February 3, 2013 at 1:43 pm

By Paolo von Schirach February 3, 2013 WASHINGTON – Whatever the final outcome of Italy’s upcoming political elections, the surprising Berlusconi come back from the dead is worth noting as a clear indication that the for ever immature Italians love populist seducers who will tell them anything they want to hear. It also says a [...]

America’s Problem Is That Half The Country No Longer Believes In The Virtues Of Free Market Capitalism – More Entitlements Seem More Appealing – However, Low Growth And High Public Spending Will Inevitably Lead To National Decline

Posted by on January 27, 2013 at 1:23 pm

By Paolo von Schirach January 27, 2013 WASHINGTON – America’s biggest problem –as the recent presidential elections have demonstrated– is that a bit more than half the country no longer believes in unfettered free enterprise as the main engine of both personal and national growth.

Obama’s Social Justice Agenda Is Unaffordable – But The Republican Message Of Fiscal Responsibility Has No Traction – The Country Does Not Appreciate The Combined Threat Of High Debt And Low Growth

Posted by on January 22, 2013 at 1:33 pm

By Paolo von Schirach Related story: http://schirachreport.com/index.php/2013/01/21/obamas-second-inaugural-address-focused-on-equality-issues-noble-goals-however-unless-the-american-economy-grows-while-washington-fixes-spending-and-taxes-there-will-be-nothing-to-redistribute/ January 22, 2013 WASHINGTON – President Obama’s priorities, as outlined in his Inaugural Address, (see above link to related piece), are in line with the political Zeitgeist that his first term contributed to create. And here they are: more government, strong defense of existing entitlement programs, more support for [...]

Obama’s Second Inaugural Address Focused On Equality Issues – Noble Goals – However, Unless The American Economy Grows, While Washington Fixes Spending and Taxes, There Will Be Nothing To Redistribute

Posted by on January 21, 2013 at 1:39 pm

By Paolo von Schirach January 21, 2013 WASHINGTON – Nothing I have heard from Barack Obama since his November clear, (albeit not triumphant), re-election convinces me that this President has anything even close to a meaningful economic growth and fiscal reform agenda that can receive bipartisan approval. His Inaugural Address, if anything, would indicate that between growth [...]

Praise For Mario Draghi Is A Way To Forget That Europe’s Structural Economic Problems Have Not Been Fixed – The Financial Situation Is Much Better; But The Economies Of Southern Europe Remain Hopelessly Weak

Posted by on January 20, 2013 at 12:50 pm

By Paolo von Schirach January 20, 2013 WASHINGTON – I am really worried about too much praise for European Central Bank President Mario Draghi. He is described as Europe’s savior, as a genius because last Summer he bluntly said that he would do whatever is necessary to defend the Euro. 

Europe Avoided Disaster – But The Economies Are Fragile And So Are The EU Institutions – Expect Current Weakness To Continue

Posted by on January 15, 2013 at 1:32 pm

By Paolo von Schirach January 15, 2013 WASHINGTON – These days in Europe there is a far more optimistic  atmosphere. It would appear that the big Eurozone crisis has been solved. No Greece exit. Italian and Spanish bond yields are back to tolerable levels. It seems that all problems, if not entirely taken care of, are now smaller and manageable. 

America Has By Far The Highest Health Care Spending In The World And Not Much To Show For It – Comparative Study Indicates US Has Lowest Life Expectancy Among Rich Countries – Over Treatment, No Prevention Jack Up Costs, With No Health Benefits

Posted by on January 11, 2013 at 1:33 pm

By Paolo von Schirach January 11, 2013 WASHINGTON – Here is a news item worth reflecting upon. America has by far the highest spending on medical care in the developed world –in absolute terms, as a percentage of GDP and as per capita spending– and yet these astronomic figures produce only mediocre to bad outcomes in terms [...]