New Yorkers suffer Sandy… and occupy it
One week after Sandy, estimated costs have climbed to as much as $50 billion. Some New Yorkers start movement Occupy Sandy to help those in distress.
In the World
Global warming, a dramatic reality
After the storm Sandy has hit New York, Spanish renewable energy company Acciona asks what “global warming” really means: “as well as temperature increases, it means alterations in the frequency and intensity of extreme weather phenomena.”
Brazil: third time lucky?
Brazil’s economy grew by 0.5% in the second quarter. According to market expectations, an upswing in activity as from the third quarter should come in but there will also be more pressure on prices, CaixaBank research notes.
Obama, Romney and squaring the deficit
Enric Fernández, in Barcelona | In spite of their differences, both candidates are aware that the country needs a credible adjustment plan. And, in fact, neither the United States nor the world economy can allow themselves to prolong, for too long, the uncertainty regarding the sustainability of the public finances of the world’s leading economy.
U.S. elections: lessons from the past
The US elections are surrounded by more uncertainty that ever before, and most of it comes from the Republican candidate. Mr Romney’s economic policies are an unknown-unknown.
Japan: the cost of the nuclear switch-off
Japan is slowing down and faces a second half of 2012 with weak activity, CaixaBank research shows. The fact that the nuclear switch-off will increase the cost of energy imports doesn’t help.
Beware the Montoro effect: two charts
In economist Luis Arroyo’s view, the Spanish Treasury would have made two mistakes that hit hard the economy: too high a VAT rate, and too expensive energy bills.
Euro zone’s current surplus is increasing but curbs can be seen on the horizon
CaixaBank research | The current surplus reaches almost 60 billion euros, close to the peak of 2004. Rising oil prices and the euro’s appreciation might slow up the pace of growth in the current surplus.
Euro zone’s internal devaluation, my eye!
Economist Luis Arroyo rephrases the popular “we all are in this together” slogan: we all at the euro zone are heading towards recession in less than a year.
The United States’ necessary leadership
By CaixaBank analysts, in Barcelona | The United States grows by 2.3% year-on-year, but the weakness in employment and fiscal adjustment force a third round of quantitative easing by the Federal Reserve.