Army Ball What To Wear

= Income distribution ...

... in Spain and the United Kingdom in the chart below. Every time we talk more about this in the context of tax increases. That failure to renew the Bush cuts in the U.S., if the new leader of Labour in the UK (my former minister) supported the indefinite continuation of the new section of the 5th% for those earning over 150,000 pounds annually, which if income tax rises in Spain ...

seems incredible that in a matter of so little interest both people have a clear idea of \u200b\u200bthe basic numbers. The memory tax aministración presents the data for Spain and these pictures of HM Customs and Revenue presents for the United Kingdom.



What has piqued my curiosity is Tertulia Digital Economic Freedom, where Alberto Recarte said yesterday that taxpayers who earn over 120,000 per year (10% of total), contributing 40% from the collection of income tax. Recarte rarely wrong, but here it has. 10% of taxpayers who earn more are those with incomes over 40,500 euros per year and represent more than half of the collection. Those earning more than 120,000 euros are less than 1% of taxpayers, but represent 18% of the collection.

I guess when someone wins as much as Recarte is normal to forget how we won the rest of us and commit these errors.

Silver Strike Bowling

Federal Reserve and economic growth ...

... a historical note. Inspired by the interview with Marc Faber publishing in Gurusblog.

The figure suggests two things:

(1) The creation of central banking in the United States in 1913 is associated with lower economic growth in subsequent years.

(2) also appears to be associated with greater volatility in economic growth.

Everyone can draw their own conclusions.

8tv.pl M Jak Milosc 786

The Fall of the Roman Empire and socialism

The theme of the fall of the Roman Empire yosoyhayek has treated a few times in his blog. Read his posts with a certain skepticism about the claim that the level of economic development in the Roman Empire was higher than in Europe in the late Middle Ages. I guess it's because I have no idea who they are or Rostovtzeff Mommsen.

That skepticism has moderated this weekend. My seven-year-old is preparing a paper for school about the Roman Empire and I've helped produce their first chart in Excel - shows the per capita income in 1990 dollars of Italy and the UK according to data from Angus Maddison The freshly deceased. And to convince my best to show a chart with four Maddison data to quote me a rock I do not know. Two interesting points emerge from the graph:

(1) The per capita income in Italy fell by half between the first year and the year 1,000 AD.

(2) Even at 1,500 the United Kingdom had not reached the level of income of the Roman Empire (although Italy had done so.)



The reasons given Huerta de Soto in this class to the collapse of living in Rome seem very convincing: socialism broke the Roman Empire. I guess I'll finish reading the article in Temmin Market Processes (vol. VI, number 2) that is mentioned in the video.

Masterbation In Ladies

The Spanish stock market falls five places ...

... in one year according to data capitalization of the major global stock markets. The graph shows the stock with more than one trillion (English) dollars of capitalization at the end of last month. Exclude the New York Stock Exchange, because it has a market capitalization of more than three times that of Tokyo and very difficult to observe differences among the rest. Total

that in 12 months the English stock market has fallen from No. 9 to 14. Has been adelantantada by the Bombay Stock Exchange, National Stock Exchange of India, the Brazilian stock exchange (Bovespa BMF), the Australian stock exchange and Deutsche Börse.

This figure has arisen because Random Spaniard has finally landed a job in the private sector. In a couple of months I will start working on energy economist for Rio Tinto, and was comparing the size of Rio Tinto with that of other publicly traded companies. Market capitalization is the fifth largest company on the London Stock Exchange (after HSBC, BP, Shell and rival BHP Billiton) and now is greater than the two largest companies in the IBEX 35 (Santander and Telefónica).

to see if next week I write some thoughts about my career change.

Taste Buds Swollen For A Week On Sides Of Tongue

"Double dip? Or are we better than we think?

cole my children start the morning. And do not watch if it rains here in London tonight. The summer itself has been finished. I want to start the course optimistic.

Keynesianism But from the depths of Krugman ( "it's all downhill from here" ) to the English right of Roberto Centeno ( "Meanwhile Spain is not broken to continue, you are actually more broken than ever" ) all seem to agree. Economically, this did not leave yet. Fall is the double dip or at least stagnation.

But I found this entry Stephanie Flanders, economics editor of the BBC, referring to the recent publication of the International Monetary Fund study "Default in Today's Advanced Economies: Unnecessary, Unlikely and Undesirable." The thesis of the study it appears that most countries have ample fiscal room before having to suspend payments.

The emphasis of Flanders is that right or wrong the IMF, the United Kingdom, largely because of the way in which it has structured its debt with average maturity of more than 13 years, almost double the average for advanced economies, is in a favorable position, at least compared to other countries.



An interesting variable that demonstrates this is the size of public borrowing between debt maturity and budget deficits, which sums up this chart. Between this year and next the UK only has to finance the equivalent of 31.7% of GDP. On the other hand, the U.S. has to finance the equivalent of 50.9% of its GDP and Japan an amazing 104.7%.

And the good news is that the needs of Spain (equivalent to 35.8% of GDP) are below average.

But let's not get carried away. These levels of overall public debt whose only precedent of what happened during the Second World War. And obviously in a different context so it is far from clear that this is sustainable. What says the IMF? Ya. Here's unflattering assessment Gold Angel Martin on the predictive power of the IMF.