After Veritas, I can’t even imagine the garbage that FB must be hiding.
74 karma · joined September 30, 2013
"You're doing it wrong, the debt goes in the private balance sheet, not the government."
"German states appeal to U.S. Congress not to withdraw troops"
https://www.reuters.com/article/us-usa-germany-military-idUS...
The only fact-denying is Europe Inc. hiding balance sheets and pretending everything is fine while the ECB bends over backwards to save the Euro.
It's simple. You undermine the public order, you are held accountable. If the boss doesn't want to do the job, the boss of the boss will do it.
What the hell do political donations have to do with this. People need to get better at the game of figuring out whether something is an actual game.
I bet you're a software developer. I'm one myself. We have a tendency to over-analyze the heck out of everything.
Yes there is. It’s like court, you have prosecution and defense.
>> They don’t oppose for the sake of opposition like you’re suggesting.
I didn’t suggest that they “oppose for the sake of opposition”. I said they oppose because that’s their job, to keep the current government “in check”.
>> Your problems and complaints about the EU are not relevant to the discussion.
They’re not complaints, they’re observations. Some of the items, not all, like defense and dollar liquidity are very relevant because of the geopolitical interplay.
>> Unless your talking genetics, how does this qualify you as a “European”?
I didn’t say I was European. I said I was a European citizen. You see, holding a European citizenship makes you a European citizen. I even voted in the last EU parliament elections.
The job of the political opposition is to oppose. What the democrats have done in the last 3 years is a whole new level of bitching. And they haven't learned anything, they seem to be following the same strategy as in 2016. Believe me that insulting the electorate to their face isn't a very good tactic. The polling situation isn't very different from 2016, but the arrogance blinds them.
I'm from an Italian-Spanish family that emigrated to South America during World War II. I lived in Europe for 5 years, in Sweden (study abroad), and I'm a European citizen.
I'm very aware of how much Europeans despise Trump. I'm also aware of how much time and energy Europeans dedicate to American politics that should be dedicated to European politics.
In a way, the Trump obsession is also destroying Europe.
Here's a list of things that Europe needs to address urgently and that the European press doesn't discuss because it's either too ignorant or too "politically correct".
- Intra-eurozone balance of payments
- Bank leverage and household debt in Sweden, Norway, Denmark, and Netherlands
- Debt mutualization, also known as "Eurobond"
- Uncoordinated fiscal policy that makes Luxembourg and Ireland suck up all the capital
- Runaway government deficits in the south
- Dollar-denominated debt and shortage of dollar liquidity
- Border security of the outer borders of Schengen (Frontex)
- Energy dependency, especially from Russia
- Chinese corporate takeovers
- Need to get real about defense spending, NATO won't babysit Europe forever (unless you PAY)
- Corruption in Eastern Europe, especially Ukraine
Democrats have spent years hating on Trump instead of building a good case for the 2020 election.
Why have a solid candidate and a solid policy package when instead you can have a senile corpse that can't put a sentence together, partnering with quasi-marxists that want to dismantle the rule of law.
The democrats achieved what nobody thought possible. They made Trump look sane.
When people think of currency, they tend to focus on the supply side (monetary policy) and forget to look at the demand side (necessary liquidity).
There is as much dollar-denominated debt outside the US as there is within. As counter-intuitive as it sounds, the crisis is creating more demand for US dollars, not less. This is why the Fed expanded the "dollar swap line" program. The "eurodollar" system is often overlooked, yet one of the most important drivers of the global economy.
Compare the policy of the Federal Reserve with the ECB (Eurozone) and the PBOC (China). And you will see why not only will the US dollar not collapse, in the coming years it may get so strong it could lead to a new Plaza Accord.
The Central Bank of Norway had to restart intervention in foreign exchange markets for the first time in decades. Norway, the #1 most developed nation in the world, experienced a dose of monetary reality on the 22nd of March (look up NOKUSD).
The so-called "rising power" of China is as marketable as it is absurd. Every other quarter there is a story of the PBOC injecting liquidity and lowering the capitalization requirement for banks. Needless to say, the Yuan still pegs to the US dollar for a reason.
Public opinion and mainstream media are divorced from financial reality, and we don't know if this is due to hysteria or sheer incompetence.
The surprise comes with the realization that the noisy political infighting of the American political class is orthogonal to almost everything.
The US may be a disaster, and simultaneously be the best in the world. Trump may be an idiot, and simultaneously be the smartest in DC.
Moral posturing isn't a substitute for good banking.
I guess in this case EU would mean the EU Commission. But yeah it’s just a recommendation to the governments.
At some point Trump got angry at us and said "OK no tariffs, but ALSO no subsidies". Obviously Europe didn't agree, and the US put tariffs in place.
All this is logical, I get it that Trump is hyperbolical and extreme, but he's not that crazy.
Maybe you can do one downvote for each dollar in the EU surplus with the US.
The PBOC is running low on FX reserves relative to the demand that they have to serve. I’ve seen a few analysts talk about a dollar shortage in China. That’s why they’re suffocating businesses in bureaucracy when they want to get their money out of China. One could say the capital will never be allowed to leave, because really it’s like it went into a black hole within the Chinese financial system, ie it doesn’t exist, it exists only nominally in whatever bank the company happens to deal with.
On top of that there is a sizable amount of dollar-denominated debt in the Chinese domestic system, so a mega deval of the yuan could be mayhem.
I live in Europe as well, and sometimes it feels like European leadership is extremely confused: EU is a shitshow that nobody seems to be able to lead (just look at how long it took for agreeing on debt mutualization/Eurobond, Brexit, VDL apologizing to Italy, etc), Germany working with Russia on Nord stream 2 after its actions in Ukraine, Sweden pretending like the lax virus approach has nothing to do with its hyper leveraged banks and heavily indebted households, list goes on... and all we can do is entertain ourselves by making fun of Trump. We are a joke, we can’t even keep our union together. We can’t even pay for our military because daddy America has to foot the bill and if they don’t our European leaders start whining about lack of US leadership.
The US Fed had enough vision to extend the dollar swap lines to more central banks including the Swedish central bank. For the ECB there is a permanent arrangement. Despite the “tough love“ we Europeans are getting on trade from the US, ultimately Europe will soon enough realize the US is its best ally.
We just want freedom and fair economic practices. We won’t get it if we let China play communist game theory with the only planet we have.
Arguably, the trade war may have nothing to do with trade and, together with financial decoupling, everything to do with deliberate monetary strangulation.
The Trump administration holds all the cards, the CCP holds none. The challenge is getting the job done without more people getting killed.
https://mises.org/wire/china-trouble
https://mises.org/wire/chinas-biggest-problem-isnt-trump-its...
https://thesoundingline.com/chinas-money-supply-has-outgrown...
Except the number of people in extreme poverty worldwide has decreased...
"(...) including for the processing of special categories of personal data (‘sensitive data’)", special categories are mentioned on Article 9. "(...) personal data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade union membership, and the processing of genetic data, biometric data for the purpose of uniquely identifying a natural person, data concerning health or data concerning a natural person’s sex life or sexual orientation"
Do you store or transfer or process any of that data on a large scale? Is it personally identifiable? "Processing" is defined on Article 4.
I believe the original legal text, though not the easiest to read, gives you a fairly clear idea on where your organization or project should stand with respect to GDPR.
(1) What data do you process? (2) How is it connected to your economic activity? (3) How do users consent this use of the data? (4) Is your data "sensitive data"?
If you're some random guy online doing large scale processing of "sensitive data" you better hire a law firm with GDPR expertise to understand and comply with the law, I mean, that's the whole point.
Read the law or, at least, read the official FAQ. Your evaluation of the impact of the law on your project is lazy.