truth in advertising

At the other end of the spectrum (in several respects) from the efforts in the US legislature to bring SOPA and PIPA in force, the EU Commissar and national consumer advocacy ministries are teaming up to combat predatory lending practices through offers of on-line credit that are usually too good to be true. In contrast to the industry lobby in the States, this mission actually aims to protect the consumer and has the teeth to close down websites, possibly engaged in shady, dishonest business, if they fail to come into compliance--not steamrolled or blacklisted but not suffered purely for the sake of commerce either. Though I think the Banking Offices of Mister Goodluck Smith-Jones of National Bank Ltd GmbH of Nairobi, who has some incredible news for you, are safe, the commission has looked at hundreds of websites and scoured thousands of offers that purport to compare competitive interest rates for moving ones savings or find the best terms for a loan and found that more than two-thirds of these sites, with an air of legitimacy since they rate real financial institutions that people have heard of, the conditions did not pan out as favourably as promised. Caveat emptor is a sound doctrine to follow and a little homework is always to one's advantage, while the sieve of government cannot and would not attempt to filter and field all such spam, this kind of initiative is a proportional way to balance out the glossy inducements that people sometimes seek out.

stamp act or omm-nomm-nomm

Despite problems reaching a broad consensus that would avoid creating market havens through the EU (and internal strife arising from coalition party factions in Germany instant on an all-or-nothing buy-in—the pro-business Freie Demokratische Partei, under the leadership of the Finance Minister, argues that no plan would work if restricted to only euro-zone traders and without the participation of opposing UK and Sweden), the European Union, after some 18 months of debate and exploration, is ready, wobbly platform or not, to institute a financial transaction tax that would levy a 0.01% - 1% surcharge on trades.

There is some strong opposition that deserves to be heard, but I do think that a lot of the resistance is peppered with misconceptions and misapplication. This idea is nothing new, dating back to the opening of the London Stock Exchange during Renaissance times, and is already practiced to some extent in the Britain, Sweden (double-taxation is never floated, interestingly, as a contrary argument), Belgium, Greece, Poland and Switzerland and in other markets (even formerly in the US, until 1966, and Japan, until 1999) and the world did not end, and the stock exchanges are in fact far from some hedonistic free-for-all, and brokerages see amazing profits on short-term holdings and the activity of day-traders.  A comprehensive agreement is projected to raise billions in tax revenue, discounting fears that the financial sector in Frankfurt or London and elsewhere would wither as investors flee towards more open markets without the transaction fees. Since consumption and income taxes in Europe are pretty high to begin with, though European citizens do realize benefits for the amount of money they pay in, taxing the financial institutions to offset the burden on the individual seems like a fair move. Only trades are levied and not home mortgages and loans to small businesses, as well as private banking, and pension funds should be exempt as well, though I do not think retirement accounts are as likely to be gambled on the stock market in Europe as in America. Some have been given cause to vehemently and callously doubt government’s ability to spend their taxes wisely. These proceeds would also shore up emergency rescue funds for banks and governments in crisis, and perhaps have the added benefit of taming speculation and automated trading, whose emotions and hair-pin triggers have created much turmoil.

penny dreadful

Der Spiegel has an insightful, rather thrifty and sparing with words to let the satire and paradox appreciate, piece on the Prolefeed and rabble-rousing spectacle that is framing not only the Republican’s campaign for the US presidential party nominee but political deportment in general. European values have become a soft-target, a punching bag and it is not just the Republican candidates that are shrill about being less European than their competition: policy-makers and editorializers squarely blame Europe for threatening the world economy, blocking quick and unilateral action against rogue states (thereby enabling the terrorists) and debasing faith and religion with an Ersatz secularism that Europe is only too happy, apparently, to export. Any one in American politics, it seems, interested in keeping his or her job is quick to distance themselves from international partners, and a similar tenor is coming also from just across the English Channel. This revived McCarthyism is nothing new and the pith and moment of campaigning can certainly excite feelings of xenophobia and patriotism that turns in on itself. Once, however, the mudslinging and bashing is over and strained diplomacy resumes and deals are kept out of the public view, there is little hope that opinions and image can be rehabilitated (for the victims of Euro-bashing or any other scapegoat) or the ironies, deflections and the side-shows cleared away. One boon and bane (Fluch und Segen) is that constituents usually do forget this heated levying of accusations and find it novel when the whole spectacle is drug out again.

on hook

I got many nifty and fine gifts this year and one accessory really makes for a clever combination. I am ever resistant to the flashier cellular phones (sogennant Handys) mostly because affording a fancy cachet usually means that one becomes saddled with a contract.

Europe, as I understand is quite different from the States in that one in America is charged for incoming as well as ongoing texts and messages, in terms of options for cellular service. Another choice that does not exist in the States is using prepaid minutes, Guthaben, which is more expensive per unit than with a contract but has no further obligation, since one can still receive calls. Many people, of course, have all sorts of inclusive contracts in Germany, that charge a flat-rate for calls, messaging and internet-access but I have stubbornly hung on to the same SIM card, phone soul, with the same phone number for nearly a decade and stayed reluctant to change. After all, over a three-month period on average, the need to actually place a call was rare and 15 euro in credits went a long, long way. People do know, in theory, what kind of breakfast cereal to purchase without the need for consultation but one does hear a lot of disembodied chatter in the grocery store, nonetheless: just think of the plots spoilt and frictionless history could be had for want of cell phone technology. I did receive, however, a great unencumbered phone with all the nice features that are stock-standard nowadays and a really ingenious bonus that was the big selling-point: slots for two SIM cards (with the chance for multiple ring-tones and wallpaper). I kept my old chip and could reload it as needed, and a space that integrated a partner-SIM card on H’s plan, with a separate, secret number. At a press of a button, I could glom of his service in a pinch or emergency, both of which cell phones have a habit of making, especially when one forgets to replenish his Guthaben.

forex or laissez-faire is everywhere

Money, a little bit or a lot, needs rules and regulations to help guide it to the right and best exchange. After all, it is only a tool and sometimes a bit of a cushion in more turbulent times. Without intervention, I don't think that these systems of systems, self-creating and something that no one can get his or her head around, work themselves out--favourably to anyone concerned and only biased towards the chaos which is more of a natural state than illusory sophistication. The eurozone is certainly not willing to risk the autonomy of outlaw markets, and although I cannot be too sure about the purity of every motive and whether or not austerity measures are a way of respecting money as a means and not as an end, the recent downward trend of the currency (EN/DE), and it is not such a dramatic or worrisome change--in fact, it can stimulate Europe's export market by making its goods cheaper, is not being spurred on by the weak performance of any member economies. It is rather just a natural consequence of binding those members in a situation where they cannot create a differential for competition, outside the union and amongst themselves, by devaluing their own currency. Asceticism or the threat thereof is not a healthy engine for market-rivalry, but wage deflation and general job angst is driving something (so too with the spread of interests levied against weak economies versus more secure ones, and what’s being put up for collateral) that is yet to be seen if it appreciates. The inability of individual members to revise downward is causing the whole of the eurozone to slip in relation to other currencies.