Smart Links 03 June 2012

Commentary on the panic trade to bonds, right employees hard to find, Obama’s cyber war, and Rex weighs in on the death of the Liberal Party of Canada.

The combination of all the structural problems in the global economy’s biggest economies all coming to a head at the same time has pushed bond yields down to abnormal levels.

 

But it has been going on for a long time.

 

Related. (ed’s note – sadly the fate of most bull markets).

youtube -- The First Battle of Manassas - Bull Run

 

Despite high unemployment rates employers finding it difficult to hire.

Economist -- Where the jobs are
UNEMPLOYMENT has reached record levels in many countries. Yet more than a third of employers around the world are still having trouble filling vacancies, according to a ManpowerGroup survey of nearly 40,000 employers in 41 countries.

 

The cyberwar against Iran.

New York Times – Obama Order Sped Up Wave of Cyberattacks Against Iran
From his first months in office, President Obama secretly ordered increasingly sophisticated attacks on the computer systems that run Iran’s main nuclear enrichment facilities, significantly expanding America’s first sustained use of cyberweapons, according to participants in the program.


National Post -- In his secret war against Iran, Obama sends in the geeks
If you’re looking to understand what the U.S. and Israel are really doing to shut down the Iranian nuclear program, there’s no better place to start than a fascinating feature printed in Friday’s New York Times.

Piling on. (ed's note: careful what you wish for).

National Post -- Rex Murphy: Canada’s new two-party system
It was not that long ago that no less a political totem than Jean Chrétien was urging the blending of the great party he once ran, the Liberals, with the now politically ascendant NDP.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

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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.
 
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