Smart Links 18 February 2012

Commentary on making brain storming work, the Euro’s day of reckoning, the little big rally, is Japan next, the case for negotiating with Iran, China’s economic rebalancing, and Rex Murphy on what’s at stake in Ontario post-Drummond.

How to make brain storming work. (ed’s note – be rude)

New Yorker – Groupthink
In the late nineteen-forties, Alex Osborn, a partner in the advertising agency B.B.D.O., decided to write a book in which he shared his creative secrets.

Just build and it will blow up.

Columbia Magazine -- Too Late for the Euro?
A decade into its ambitious currency experiment, the Eurozone is in trouble. Business school professor David Beim, a financial-markets expert and former investment banker, says the euro's hour of reckoning is at hand.

 

The market rally since March 2009 may have felt good but by historical comparisons isn’t. (ed’s note – even with interest rates at zero and a massive stimulus?)

Still.

Charlie Fell Blog -- US Economy on the Mend?
The US economy is on the mend and a self-sustaining expansion appears set to take hold. 

 

And the Prudent Bear explains.

Prudent Bear -- A New Bull Market?
This week I was compelled to respond to a vicious rumor that I’d turned bullish.

A little like this. (ed's note -- and we know how that ended ...)

Tomorrow belongs to me

It seems the Chinese not only invented golf but the i-Pad too.

Economist -- End of the iPad?
FEW brands are as loved in China as Apple, and few business leaders worshipped as much as the late Steve Jobs, Apple’s longtime boss. 

 

The dangers of runaway sovereign debt.

Yahoo Finance -- Insight: Japan slowly wakes up to doomsday debt risk
Capital flight, soaring borrowing costs, tanking currency and stocks and a central bank forced to pump vast amounts of cash into local banks -- that is what Japan may have to contend with if it fails to tackle its snowballing debt.

Talking with Tehran.

Independent -- It's time to give negotiations with Iran a chance
As anyone will know who has followed the way the Iranian regime operates, it has a record of games-playing when it is put under pressure. And all too often it overplays its hand.

 

China is adjusting, really.

voxed -- China’s economic rebalancing is already underway
The international community, and particularly policymakers in the US, put great expectations on the contribution that China can make to a global economic recovery by rebalancing its economy through promoting consumption growth. This column, drawing on both official and unofficial data, argues that China’s long-awaited economic rebalancing is already well under way.

The truth is hard.

National Post -- The Drummond report and Ontario’s sham election
With the exception of the writings of the prophets Jeremiah and Isaiah at their bleakest, flavoured with a touch of H.P. Lovecraft on the days when that lightless mind was wrestling with a migraine, the recent meditations of Don Drummond on Ontario’s fiscal situation set the standard for prose that vibrates with gloom and foreboding.

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Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.
 
The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.
 
When too few get too much everybody ends up with less.
 
Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society as a whole that are unintended but wonderful?
 
Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways.
 
My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.
 
Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.
 
Public policy should be designed to decrease inequality before the law and increase equality of opportunity.
 
Capitalism is not the problem; the problem is what we do with capitalism.
 
Content is always more difficult to argue than conspiracy.
 
Let the state regulate and the market operate (most things).
 
Welfare strategies are best designed as a hand up not as a hand out.
 
Political debate should not be fact free fighting.
 
Explanation lasts longer than eloquence.
 
Always favour empowerment over dependency.
 
The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.
 
Find your voice and don't be the echo of somebody else.