News November 2016

Every morning I read the news, while travelling to work. Here are the top issues from November 2016.

NEWS November 2016, aggregated by Erik R.

– For the first time since the WWII, the global trade is falling while the economy is growing, an economic analyst told the New York Times. Trade is growing in volume, but the value is falling due to exchange rate movements and falls in commodity prices.

92053156_mediaitem92053155– BBC: ISIS would not give up Mosul: ‘it is easier to die in a fight than to give up in a shame.’

Ľubomír Jaško in a commentary writes that Slovakia is solving fictional migrants, while countries like Italy and France are facing real problems with tens of thousands of people arriving.

Handesblatt: Melania Trump, the potential first lady, worked illegally in the US; now her husband wants to evict thousands of people on the same ground.

Project Syndicate: Populists get support because the poor masses are angry with the traditional politics. Similarities between Trump and Berlusconi – populism. (the opinion was presented in several articles, the link is to the key one by Joseph E. Stiglitz)

2828645Eduard Chmelár: Surveys were wrong with the victory of Kotleba, the Brexit vote, the election in Germany and they were wrong even now – at the victory of Trump.
Political marketing is what politicians promise but not what they deliver.

Noro Kucharík in HN: Mosul is important for the future operations towards the western Syrian border. Apart from the battle, we must also fight the minds of the people, especially the Islamic fanatics.

– Pavol Demeš:  He points out that Trump has no experience in politics. Clinton in her speech would give her opponent a chance.

Juraj Krúpa – a security analyst starts with Trump’s inconsistency in foreign politics: one moment he would end all the conflicts, minutes later totally bomb ISIL. He is also ready to walk out on Europe if it won’t contribute more to NATO. But he needs the money from the Congress and he has lot of opponents in his own Republican party. (Radio)


The Guardian view on President-elect Donald Trump: a dark day for the world. Vote of the American people can have consequences on the whole world. Danger for the Baltic countries; populism is not limited geographically. The young people complain that they have to contribute to the pensions of the growing number of the retired. It is not about democratic division of costs but the future of work. Categorical imperative – I treat you how you treat me.

Aktuality: Lidl makes the highest profit (9%) of all Slovak supermarket chains thanks to narrow inventory and related low distribution costs. Dramatic fall in the number of wild salmon will result in price increase of the fish favoured also by Germans. It might be related to the climate change and temperature rise, but the scientists are not sure.

Aktuality: Justice secretary Žitňanská said that Slovakia still does not have the rule of law. Resignation of minister Kaliňák would help it, followed by systematic changes.

PROJECT SYNDICATE: The biggest problems for Europe are Russia, China, spending of the individual governments and NATO…not Trump. (summary of several articles, mainly Barry Eichengreen, professor of Economy at Berkeley)

The Guardian: Brexit was “like agreeing to a house swap without having seen the other house”, the former Labour Prime Minister Tony Blair said.

Zeit: Populism is not thriving in poverty but in the loss of identity.

SLOVAK SPECTATOR: THE SHADOW of manipulated and overpriced public procurement looms over Slovakia’s EU presidency after a former ministry official spoke out about suspicious practices.

Tom Nicholson writes for the sports section of SME: Entrepreneur Anton Siekel is the strongest candidate for the post of the chairman of the Slovak Olympic Committee (actually he won the vote).

141029140929_fidel_castro_ropa_ob_624x351_gettyFidel Castro, the former revolutionary leader of Cuba, died at the age of 90. Castro established the communist state and survived several life attempts.

– Project Syndicate: The World Bank released Doing Business 2017, one of the most influential reports.

Flaws: PricewaterhouseCoopers (PwC) collects the data and ranks countries according to the regulatory burden on entrepreneurs. But corporate taxation, which rises with the ‘amount’ of burden, is necessary for funding the growth & employment.

– INVESTOPEDIA: Peak globalization is a theoretical point at which the trend towards more integrated world economies reverses or halts. 

PROJECT SYNDICATE: Ten consequences of Trump. Public spending boost, employment and inflation. Tax cuts. Relations with Russia and China. Isolation vs. open market. More money in the hands of the people = higher prices and interest rates. Contagion effect on Europe.

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