The Parallel Parliament

Glen Pearson

Posts tagged “finance

It’s All Greek to Us

Posted on July 14, 2015

AVERAGE CITIZENS CAN BE FORGIVEN for a general confusion and alarm emerging from the Greek debt crisis. The sheer financial numbers, opinions, and economic layers are dizzying. For every economic theory coming from established experts comes another established opinion stating exactly the opposite coming from others. Let’s put the various viewpoints aside for a brief moment, if indeed we can, and consider the trends emerging from the crisis. First, it’s not really the Greek currency that’s back of all these difficulties but the euro itself. Across the vast networks of the EU the rips appearing because of the competing policies from individual member nations are increasing and troubling. Britain particularly appears on a collision course with the EU framework, especially now that British PM David…

Devouring Social Capital

Posted on March 5, 2015

WHEN CANADIAN MARK CARNEY LEFT his post as the head of the Bank of Canada to take on the prestigious role as the Bank of England’s governor, it was like he was jumping from the frying pan into the fire. That was almost 18 months ago and times have been turbulent for the world economy, including Britain’s. He was deemed a typical mild-mannered Canadian who would bring a sense of stability. So when he was asked to speak at England’s prestigious Guild Hall to the country’s elites no one was expecting anything out of the ordinary.. They should have been better prepared. He surprised everyone when he launched into his view of how capitalism itself is at risk. “Just as any revolution eats its…

The Declining Melancholy

Posted on April 24, 2014

  IT IS BECOMING AN EVER MORE PUBLISHED theme that capitalism and inequality appear to be walking down the same path. Worse is the growing suspicion that the glaring global challenges facing this generation – climate change, unemployment, debt, widening gap between the rich and poor – are occurring because of modern capitalism, not in spite of it. The more data and economic insight that emerges, the more this hunch is bearing itself out. World Bank executives recently held a discussion in which they wondered if the modern capitalist states have actually blown it – irrevocably. They spoke of how major economic powers like China and India, while investing heavily in Western opportunities, have made virtually nothing since the year 2000. Gone are the…

Greasing the Skids

Posted on May 6, 2013

Innately, everyone comprehends that the days of cheap oil are over and that supplies have passed their prime.  Yet a large contingent of governments, instead of implementing sustainable policies to slowly maneuver their economies in accordance with that reality, continue to pursue growth in ways that refuse to take the decline of oil into account. In the 1980s, China used up a modest two million barrels of oil each day; currently that consumption stands at nine million – every day.  That seemed okay in an era where oil seemed boundless and all industrialized nations had geared up their national economies to reap the dividends.  No more.  With the end of cheap oil comes the era of shrinking economies and hard choices. According to the…