Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


Gordon Campbell US Election 2012 Blog - Update #5

Gordon Campbell US Election 2012 Blog - Update #5


Scoop Political Editor Gordon Campbell is live blogging the US election results as they come in at:
GordonCampbell.scoop.co.nz

Update 12.35pm

Wow. Without even blinking, CNN just gave us an incidental summary of Romneyeconomics : he’ll give everyone a 20% tax cut, and close some tax loopholes. “That’s how he’ll deal with the deficit.” Oh good. And he’ll massively increase defence spending. No wonder The Economist recently endorsed Obama, however grudgingly. Their dissing of Romney was on the button :

…Far from being the voice of fiscal prudence, Mr Romney wants to start with huge tax cuts (which will disproportionately favour the wealthy), while dramatically increasing defence spending. Together those measures would add $7 trillion to the ten-year deficit. He would balance the books through eliminating loopholes (a good idea, but he will not specify which ones) and through savage cuts to programmes that help America’s poor (a bad idea, which will increase inequality still further). At least Mr Obama….has made it clear that any long-term solution has to involve both entitlement reform and tax rises. Mr Romney is still in the cloud-cuckoo-land of thinking you can do it entirely through spending cuts: the Republican even rejected a ratio of ten parts spending cuts to one part tax rises. Backing business is important, but getting the macroeconomics right matters far more.

Loved this verdict from yesterday’s Financial Times :

…Iinvestors are attempting to position themselves in different asset classes for an uncertain outcome. “Romney’s policy is dollar-bullish while Obama’s re-election means the status quo: dovish monetary and expansionary fiscal policy and so dollar-bearish,” says James Kwok, head of currency management at Amundi.

(Back in 15 minutes…)

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Artificial Intelligence: Real Anxieties?

The movie Ex Machina feels so current there are powerful moments of recognition – despite the seemingly unlikely scenario of a walking, talking artificial intelligence (AI). Right now Google is enlisting its massive databases, drawing on the contents of every email and Internet search ever made, in the service of what has been called ‘the Manhattan Project of AI’. More>>

ALSO:

Open Source, Open Society: More Than Just Transparency

Bill Bennett: “Share and share alike” is the message parents drum into children. But once they grow up and move out into the wider world, the shutters start to come down. We’re trained to be closed. Dave Lane, president of the New Zealand Open Source Society, says that explains the discomfort people find when they first encounter the open world. More>>

ALSO:

Werewolf: Journalism, History And Forgetting

Compare that [the saturation coverage of WWI] not just with the thinly reported anniversaries last year of key battles in the New Zealand Wars, but with the coverage of the very consequential present-day efforts to remedy the damage those wars wrought, and the picture is pretty dismal. More>>

ALSO:

Werewolf: Climate Of Fear

New Zealand, promoting itself as an efficient producer, has been operating as a factory farm for overseas markets with increasing intensity ever since the introduction of refrigerated shipping in 1882. The costs to native forests and to bio-diversity have been outlandish. The discussion of impacts has been minimal... More>>

ALSO:

Greek Riddles: Gordon Campbell On The Recent Smackdown Over Greece

There had been a fortnight of fevered buildup. Yet here we are in the aftermath of the February 28 showdown between the new Syriza government in Greece and the European Union “troika” and… no-one seems entirely sure what happened. Did the asteroid miss Earth? More>>

ALSO:

Keith Rankin: Contribution Through Innovation

The economic contribution of businesses and people is often quite unrelated to their taxable incomes. EHome, as a relatively new company, may have never earned any taxable income. Its successors almost certainly will earn income and pay tax. Yet it was eHome itself who made the biggest contribution by starting the venture in the first place. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news