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Friday, May 30, 2014

A NEED FOR AN EVOLUTION INTO ANOTHER PERSPECTIVE :MORE HUMAN AND STELLAR

(CLICKING ON THE TITLE WE ARE REDIRECTED TO AN ARTICLE FROM GLOBAL RESEARCH CANADA)


DEAR FELLOW READERS AND SUPPORTERS CHAIRESTHAI,
TODAY IT WAS FELT THE NEED TO MAKE A BRIEF ECONOMICAL ANALYSIS ,EVEN THOUGH AGAIN AND AGAIN AT THE PAST PREVIOUS  YEARS AT OUR MACROECONOMICAL POSTS  IT IS   WRITTEN THE SAME :

THE OLD OLIGARCHIC REGIMES,NAMED AS REPRESENTATIVE DEMOCRACIES OR PEOPLE'S DEMOCRACIES HAVE ENDED,BY BEING MOVED TO THEIR LAST POLITICAL  FRONTIER ,THIS ONE OF THE STATE-CAPITALISM.
NOWADAYS THE EUROPEAN  CITIZENS HAVE TO CHOOSE BETWEEN TWO DIRECTIONS  1)ONE WHICH WILL SURELY  BE FOLLOWED BY THE ASIAN COUNTRIES MAINLY BECAUSE OF THEIR POLITICAL TRADITIONS ,CALLED PURE DICTATORSHIPS OR OLIGARCHIES OR
2)THAT ONE WHICH EUROPEANS HAVE A LONG HISTORY INTO THEM,THE (PURE,DIRECT) DEMOCRATIC REGIMES.

THIS WILL BE FORCED BY THE NEEDS OF THE ECONOMICAL SECTOR ON WHICH THE OLD REGIMES HAVE BUILT THEIR  IDEAS,DEVELOPMENT AND POLITICS,FOR THE LAST 2-3 CENTURIES,BY KEEPING THEIR EFFORTS TO GIVE A LIGHT OLIGARCHIC APPROACH.

IN USA,AND ESPECIALLY AT  N.Y. ,THINGS AREN'T GOING WELL AND THE CREDIT WHICH WAS GIVEN TO THEIR POTENTIALS AND IDEAS FOR THE LAST 5 YEARS ,COMES TO AN END.

Business Live: US economy shrinks for first time in three years


 THE USE OF EUROPEAN UNION AS A WAY TO POSTPONE THE BAD EFFECTS,AND  TO BACK THE OLD POLICIES,BECOMES DAY BY DAY MORE OBVIOUS TO THE CITIZENS WHO PAY AN EXPENSIVE EURO,AT A POVERTY PERIOD,DUE TO THE DOMESTIC EUROPEAN POLICIES OF AUSTERITY.
LATELY THE OLIGARCHIC EUROPEAN POLITICIANS OF ALL PARTIES ARE TRYING TO CHANGE THEIR POLICIES FOR RELAXING THE CITIZENS ,

After seismic elections, EU leaders assess damage

BUT THIS WILL CAUSE  A DUBIOUS BEHAVIOUR ,TO WHICH THE ECONOMIC SYSTEM WILL RESPOND BY NON REAL INVESTMENT POLICIES.

"The countries in the adjustment program have higher performance in terms of implementing reforms OECD", noted German Finance Minister Wolfgang Schaeuble, but warned the countries that complete the programs to not be reassured but to continue reforms.

SOURCE http://www.newsbomb.gr/global/news/story/452103/schaeuble-the-end-of-austerity-doesn-t-mean-the-end-of-reforms

ON THE OTHER HAND WE SEE THAT ON THE GOLD AND PRECIOUS METALS MARKET,ARE TAKING PLACE TWO IMPORTANT ACTIVITIES

A)THE MANIPULATION OF GOLD'S PRICES AT N.Y. AND LONDON

Daily assessment fined Barclays manipulating the price of gold: Western accusing him self into furnishings


B)CHINA'S STATE SECTOR INVOLVEMENT TO CONTROL A PART OF THIS MARKET

SINGAPORE (Reuters) - China has approached foreign banks and gold producers to participate in a global gold exchange in Shanghai, people familiar with the matter said, as the world's top producer and importer of the metal seeks greater influence over pricing.

SOURCE http://www.businessinsider.com/r-with-london-fix-under-fire-china-seeks-bigger-sway-in-gold-trade-2014-27

ALL THESE COMBINED WITH THE GEOPOLITICAL EFFECTS AND THE HOME BUBBLE WHICH STILL GOES AROUND ,BY BEING FROZEN,PLUS THE BANK'S SECTOR LIQUIDITY AND HIDDEN DEBTS,PROVE THE RIGHT OF OUR CLAIMS.

"a  deep change is in need"

EUCHARISTOOMEN FOR SUPPORTING OUR CAUSES IN

ECOLOGY/ARTS - (DIRECT) DEMOCRACY - SCIENCE/KNOWLEDGE









The most expensive housing market in North America is not where you’d think. It’s not New York City or Orange County, California, but Vancouver, British Columbia. Now, Vancouver is a beautiful city—a thriving deep-water port, a popular site for TV and movie shoots. By all accounts, it is a wonderful place to live. But nothing about its economy explains why—in a city where the median income is only around seventy grand—single-family houses now sell for close to a million dollars apiece and ordinary condos go for five or six hundred thousand dollars. “If you look at per-capita incomes, we look like Reno or Nashville,” Andy Yan, an urban planner at the Vancouver-based firm Bing Thom Architects, told me. “But our housing prices easily compete with San Francisco’s.”
When price-to-income or price-to-rent ratios get out of whack, it’s often a sign of a housing bubble. But the story in Vancouver is more interesting. Almost by chance, the city has found itself at the heart of one of the biggest trends of the past two decades—the rise of a truly global market in real estate.
We’re all familiar with the stories of Russian oligarchs buying up mansions in London, but this is a much broader phenomenon. A torrent of capital from wealthy people in emerging markets—from China, above all, but also from Latin America, Russia, and the Middle East—has flowed into the real-estate markets of big cities in other countries, driving up prices and causing a luxury-construction boom. A recent report by Sotheby’s International Realty Canada examined more than twelve hundred luxury-home sales in Vancouver in the first half of 2013 and found that foreign buyers accounted for nearly half of sales. In Miami, a huge influx of money from Latin America has enabled the city’s housing market to recover from the bursting of the housing bubble, and has set off a condo-construction spree. Australia has become a prime market for Chinese investors, who Credit Suisse estimates will buy forty-four billion dollars’ worth of real estate there in the next seven years.
What’s so special about the places that attract all this foreign money? The economists Joseph Gyourko, Christopher Mayer, and Todd Sinai have developed a theory about what they call “superstar cities.” Looking at data from 1950 to 2000, they found a small number of cities where housing prices rose steeply, and concluded that high earners tended to cluster together over time, with the result that rich cities tend to get richer.
Vancouver isn’t an obvious superstar. It’s not home to a major industry—as New York and London are to finance, or San Francisco to tech—and it doesn’t have the cultural cachet of Paris or Milan. Instead, Vancouver’s appeal consists of comfort and security, making it what Andy Yan calls a “hedge city.” “What hedge cities offer is social and political stability, and, in the case of Vancouver, it also offers long-term protection against climate change,” he said. “There are now rich people around the world who are looking for places where they can park some of their cash and feel safe about it.” A recent paper by two Oxford economists bears this out, showing a tight correlation between London house prices and turmoil in southern and Eastern Europe. The real-estate boom in Miami has been magnified by political unrest in Venezuela. And Vancouver, which has a large Chinese population, easy access to the Pacific Rim, and nice weather, has become a magnet for Chinese investors looking for insurance against uncertainty. A Conference Board of Canada report found that Vancouver’s real-estate market is tightly connected to what happens in the Chinese economy.
The globalization of real estate upends some of our basic assumptions about housing prices. We expect them to reflect local fundamentals—above all, how much people earn. In a truly global market, that may not be the case. If there are enough rich people in China who want property in Vancouver, prices can float out of reach of the people who actually live and work there. So just because prices look out of whack doesn’t necessarily mean there’s a bubble. Instead, wealthy foreigners are rationally overpaying, in order to protect themselves against risk at home. And the possibility of losing a little money if prices subside won’t deter them. Yan says, “If the choice is between losing ten to twenty per cent in Vancouver versus potentially losing a hundred per cent in Beijing or Tehran, then people are still going to be buying in Vancouver.”
The challenge for Vancouver and cities like it is that foreign investment isn’t an unalloyed good. It’s great for existing homeowners, who see the value of their homes rise, and for the city’s tax revenues. But it also makes owning a home impossible for much of the city’s population. And the tendency of foreign buyers not to inhabit investment properties raises the spectre of what Yan has called “zombie neighborhoods.” A recent study he did found that a quarter of the condos in a luxury neighborhood called Coal Harbour were vacant on census day.
One option would be to severely restrict foreign ownership, but that’s politically difficult, and not great for a city’s economy. It might make more sense if the Vancouvers of the world simply charged foreign buyers a premium for the privilege of owning there. “We’re one of the places where people seem to want to park their cash, and there aren’t that many of those places,” Yan says. “So let’s raise the parking fees.” As for the rest of us, we’d better get used to being tenants. 
source NEW YORKER 5/14

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