It appears that yet again, once more, Obama-appointee FTC Antitrust Chairwoman Edith Ramirez is asleep at her desk. Previously she was grilled about apparently not doing her job when it came to Google, wherein she was asked to address “contradictions” in testimony she gave to the Senate Judiciary Committee regarding the FTC’s dropping of an antitrust action against Google in 2013 – the requests pointed to a variety of evidence obtained through open government laws that suggested that Ramirez and other FTC officials had unusually close relationships with Google, and that those relationships may have helped the company avoid antitrust action.
Perhaps she is just the latest minority “protected class” member installed by the Deep State Plutocrat Elite in order to do their dirty business, as usual, and given no power or mandate to effect or engage in any meaningful change for the benefit of the American people, or the rest of the world.
The latest news broadcasts from up on high is that AT&T is about to buy Time-Warner Cable, for a cool 85 billion dollars.
And yet again, all we hear are crickets chirping from Edith Ramirez’ and the other FTC staff desks.
Do they not realize that yet again, ANOTHER huge media conglomerate is being swallowed and acquired by another huge media conglomerate, to create another gargantuan media outlet, in another consolidation of the enormous power, money, wealth, intimidation, conspiracy, and control of the American (and now global) media, which directly undermines and eviscerates the US Constitution, contained within the purview of the First Amendment?
The People have already spoken – almost unanimously, and screamed from the rooftops at the top of their lungs, that the media is controlled by only 6 major corporations, and that the People literally have to scramble, scour the internet, subscribe to alternative media/news outlets, and otherwise sign up for “conspiracy theory” web sites, in order to get their much needed, and very necessary, news and information about their country, the world, and current events which directly affect their lives, and their friends/family/children.
But FTC Chief Edith Ramirez, like she did during the Google investigations, says, and does nothing.
Could it be because she is somehow being told to “stand down,” or is otherwise benefiting from this pyramid scheme-like media conglomeration?
Is she being promised a great job afterwards, making millions of dollars at the American People’s expense, like almost every other single revolving door government/private sector whore who puts in their time – see Goldman Sachs’ Robert Rubin, Tim Geithner, Larry Summers, Gene Sperling, and others flitting around as US Treasury Secretary or Federal Reserve stooges, or even former Attorney General Eric Holder’s beeline back to his leather chair and cherrywood desk at uber-elite bankster law firm Covington & Burling LLP after he essentially “whitewashed” the trillion dollar international bankster crimes of 2008 during his tenure in the Obama Administration, placing no one in jail, just hitting them all with “fines” of a few million dollars here and there, which really is just a “days pay” for these banking behemoths, and is otherwise just chalked up to the “cost of doing business” on their way to fleecing trillions of dollars from the American taxpayer, and countless billions of people overseas, connected within the interlocking “keiretsu” banking system of the international central bankers?
When are we, the American People, going to begin to hold our elected (and non-elected but appointed) government leaders’ collective feet to the fire?
When are we going to call them out for being the lazy, good for nothing, taxpayer-sucking crooks that they are, and demand that they actually do their jobs?
United States antitrust law is a collection of federal and state government laws that regulate the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. (The concept is called competition law in other English-speaking countries.)
The main statutes are the Sherman Act 1890, the Clayton Act 1914 and the Federal Trade Commission Act 1914.
These Acts, first, restrict the formation of “cartels” and prohibit other collusive practices regarded as being in restraint of trade.
Second, they restrict the mergers and acquisitions of organizations that could substantially lessen competition.
Third, they prohibit the creation of a monopoly and the abuse of monopoly power.
The Federal Trade Commission, the U.S. Department of Justice, state governments and private parties who are sufficiently affected may all bring actions in the courts to enforce the antitrust laws.
The scope of antitrust laws, and the degree to which they should interfere in an enterprise’s freedom to conduct business, or to protect smaller businesses, communities and consumers, are strongly debated.
One view, mostly closely associated with the “Chicago School of Economics” suggests that antitrust laws should focus solely on the benefits to consumers and overall efficiency, while a broad range of legal and economic theory sees the role of antitrust laws as also controlling economic power in the public interest.
Preventing collusion and cartels that act in restraint of trade is an essential task of antitrust law.
It reflects the view that each business has a duty to act independently on the market, and so earn its profits solely by providing better priced and quality products than its competitors.
The Sherman Act §1 prohibits “every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce.”
This targets two or more distinct enterprises acting together in a way that harms third parties.
The American People, and indeed the rest of the world, need to pay closer attention to the assembling of the “Pyramid” of oppressive global governance and New World Order infrastructure in their own midst, and in their own lifetime, before they find themselves unable to escape the juggernaut and heavy machinery being built all around them, in order to enslave.
Extending people’s working lives could add US$3.5 trillion to OECD GDP in long run
Extending people’s working lives to reflect the ageing of their populations could release massive untapped value for their economies to the tune of US$3.5 trillion across the OECD as a whole in the long run.
Iceland, New Zealand and Israel are the leaders in boosting employment rates among older workers, setting a model for others to follow, according to the latest research by PwC.
Between 2015 and 2050, it’s estimated that the number of people aged 55 and above in the 35 OECD countries will increase by almost 50% to over 500 million. But how many of these half a billion people will be working?
PwC’s Golden Age Index benchmarks, ranks and analyses the performance of OECD countries in fostering older people’s participation in the workforce through employment and training data. It reveals how large potential economic gains are available if employment rates for those over 55 can be raised to those of the top performers.
Current employment rates for workers aged 55-64 vary dramatically across the OECD, from 84% in Iceland and 78% in New Zealand to 38% in Greece and 34% in Turkey.
For example, increasing the over-55 employment rate to New Zealand levels could deliver a long-run economic boost worth around US$815 billion in the US, US$406 billion in France and US$123 billion in Japan – with the total potential gain across the OECD adding up to around US$3.5 trillion. This economic uplift would be combined with significant social and health benefits from older people leading more active lives and having higher self-worth through continuing to work where they wish to do so.
John Hawksworth, Chief Economist at PwC UK, comments:
“Of course, it’s good news that we’re living longer. But an ageing population is already putting significant financial pressure on health, social care and pension systems, and this will only increase over time. To help offset these higher costs, we think older workers should be encouraged and supported to remain in the workforce for longer. This would increase GDP, consumer spending power and tax revenues, while also helping to improve the health and wellbeing of older people by keeping them mentally and physically active.”
For governments, ways to realise these benefits include reforming pension systems and providing other financial incentives to encourage later retirement – steps that several countries are already prioritising.
Significantly, the top-performing countries on the Index tend to share a number of characteristics, including a labour market that supports flexible working and the implementation of reforms targeted at older workers, such as redesigning jobs to meet physical needs. Successful policy measures include increasing the retirement age, supporting flexible working, improving the flexibility of pensions, and providing further training and support help older workers become ‘digital adopters’.
To help governments take the right actions, PwC has used this year’s update of the Golden Age Index to carry out a rigorous statistical analysis of the underlying drivers of higher employment rates for older workers across 35 OECD countries.
The findings from this analysis include that financial incentives like pension policy and family benefits can influence people’s decision to stay employed, and that longer life expectancy is associated with longer working lives. The study also shows that flexible working and partial retirement options can pay dividends for employers, as can redesign of factories, offices and roles to meet the changing needs and preferences of older workers.
A further area that the latest Golden Age Index examines concerns the implications for older workers of rising use of artificial intelligence (AI) and related automation technologies in the workplace. It finds that these technologies raise both potential opportunities and challenges for the over-55s.
Up to 20% of the existing jobs of older workers could be at risk of automation over the next decade, so retraining and lifelong learning will be critical to enable older workers to take up the many new job opportunities that AI and related technologies will create.
PwC UK Chief Economist John Hawksworth explains: “AI technology can boost economic growth, generate more labour demand and support longer working lives, for example through the use of digital platforms that allow older workers to market their skills more widely. However, our estimates suggest that older workers do face a higher risk of job automation compared to other age groups, with up to 20% of the existing jobs of over-55s at potential risk of automation over the next decade. Measures to support lifetime learning and retraining for older workers will be critical to maximising the gains from these technologies while mitigating the costs.”
Further reforms needed for a stronger and more integrated Europe
The European economy is growing robustly, helped by accommodative monetary policy, mildly expansionary fiscal policy and the global acceleration. The current economic expansion should be used to speed up implementation of reforms to the euro area architecture and EU policies that would support greater European integration and ensure stronger, more inclusive long-term growth, according to two new reports from the OECD.
The latest OECD Economic Survey of the European Union and Economic Survey of the Euro Area look at the factors behind the strong recovery, as well as the challenges facing Europe. The Surveys project growth topping 2% for the 2018-19 period, and lay out an agenda for boosting long-term growth and living standards across Europe.
The Surveys, presented in Brussels by OECD Secretary-General Angel Gurría, highlight the need for EU budget reform, more efficient cohesion policies to reduce regional divides and further efforts to deepen the single market. The OECD also discusses how completing the banking union, creating a common fiscal support scheme and simplifying fiscal rules would strengthen the euro area by making it more resilient to economic shocks.
“After years of crisis, positive economic momentum has taken hold across Europe,” Mr Gurría said. “Growth continues at a solid pace, and has broadened across sectors and countries. The conditions are right for a new wave of reforms to revive the European project and ensure that the benefits are shared by all.”
The Surveys say that macroeconomic policy must be tailored to support economic expansion while reducing imbalances. Monetary policy should remain accommodative until inflation is durably back to the objective, even as the ECB prepares for a very gradual normalisation of its policy. With an economic expansion under way, governments should reduce debt-to-GDP ratios. Simplified fiscal rules and a stronger focus on expenditure growth should help achieve this objective without derailing the recovery.
Ensuring the stability of the monetary union and enhancing the common currency’s resilience to downturns will be critical to future economic progress. More risk sharing will be necessary. The Survey calls for a European unemployment reinsurance scheme to cope with economic shocks too large to be dealt with solely by national fiscal policies or monetary policy. Reforms to develop the capital markets union along with a rapid reduction of non-performing loans are also important to allow a better functioning of the Economic and Monetary Union.
Additional reforms to complete the banking union are also necessary, in particular the setting up of a common European deposit-insurance scheme and using the European Stability Mechanism as a backstop for the Single Resolution Fund; both reforms would help prevent any future banking crisis developing into a sovereign debt crisis. The introduction of additional capital charges for banks holding high levels of government debt from their own country should occur alongside the creation of a new European safe asset. This would favour the diversification of banks’ exposure to government debt and mitigate negative feedback loops between weak banks and stressed public finances.
Reforms to the EU budget can enhance growth and make it more inclusive. There is scope to increase member states’ contributions, including by reassessing how the European budget is financed, as the current financing does not reflect countries’ ability to pay. The EU Survey suggests that resources to finance growth-enhancing spending, including R&D, be freed up by phasing out production-based payments in the Common Agricultural Policy and better targeting regional policy to lagging regions.
Improving the functioning of the Single Market would boost growth and living standards, the Surveys said. There is scope to ease regulatory burdens and address barriers to trade in services, improve cross-border cooperation in the energy sector through better power system operation and trade, and help member states boost digital skills acquisition.
Global Migration Can Be a Potent Tool in the Fight to End Poverty Across the World
Global migration has lifted millions out of poverty and boosted economic growth, a new World Bank report finds. But destination countries risk losing out in the global competition for talent and leaving large gaps in their labor markets by failing to implement policies that address labor market forces and manage short-run economic tensions.
Large and persistent differences in wages across the globe are the main drivers of economic migration from low- to high-income countries, according to Moving for Prosperity: Global Migration and Labor Markets. Migrants often triple their wages after moving to a new country, helping millions of migrants and their relatives at home escape poverty. Destination countries often benefit as migrants fill critical roles, from advancing the technological frontier in Silicon Valley to building skyscrapers in the Middle East.
Despite the lure of higher wages, rates of migrants as a share of the global population have remained mostly unchanged for more than five decades, even as global trade and investment flows have expanded exponentially during this time. Between 1960 and 2015, the share of migrants in the global population has fluctuated narrowly between 2.5 and 3.5 percent, with national borders, distance, culture, and language acting as strong deterrents.
Highlights of key findings from the report include:
-Migration flows are highly concentrated by location and occupation. Currently, the top 10 destination countries account for 60 percent of around 250 million international migrants in the world.
-Surprisingly, concentration levels increase with skill levels. The United States, the United Kingdom, Canada and Australia are home to almost two-thirds of migrants with tertiary education. At the very peak of talent, an astonishing 85 percent of all immigrant Nobel Science Prize winners are in the United States.
-Education levels of women are rapidly increasing, especially in developing countries, but opportunities for career growth remain limited. As a result, college educated women from low and middle-income countries are the fastest growing group among immigrants to high-income countries.
“The number of international migrants continues to remain fairly modest, but migrants often arrive in waves and cluster around the same locations and types of jobs,” said Shantayanan Devarajan, World Bank Senior Director for Development Economics and acting Chief Economist. “Better policies can manage these transitions in a way that guarantees long-term benefits for both citizens and migrants.”
The report recommends various policy measures to ensure the benefits of migration are shared by host and immigrant communities for generations to come. Key among them:
-Effective migration policies must work with rather than against labor market forces. For example, where there is large unmet demand for seasonal work, temporary migration programs, like those in Canada or Australia, could address labor market shortages while discouraging permanent undocumented migration.
-Quotas should be replaced with market based mechanisms to manage migration flows. Such tools can pay for the cost of government assistance to support dislocated workers. In addition, the most pressing needs of the labor market can be met by matching migrant workers with employers that need them the most.
-Creating a pathway to permanent residency for migrants with higher-skills and permanent jobs creates incentives for them to fully integrate in the labor markets and make economic and social contributions to the destination country.
“We have to implement policies to address the short term distributional impact of migration flows in order to prevent draconian migration restrictions that would end up hurting everyone,” said Asli Demirguc-Kunt, Director of Research at the World Bank.
The report argues that migration will be a fundamental feature of the world for the foreseeable future due to continued income and opportunity gaps, differences in demographic profiles, and the rising aspirations of the world’s poor and vulnerable.
“The public debate over migration would benefit from recognizing data and research,” said Caglar Ozden, Lead Economist and the lead author of the report. “What this report tries to bring to the debate is rigorous, relevant analysis to support informed policy making.”
Moving for Prosperity: Global Migration and Labor Markets is the latest in a series of Policy Research Reports that comprehensively review the latest research and data on current development issues. The new report presents the key facts, research, and data on global migration gathered from the World Bank, U.N., academia, and many other partners.
You can read the full report and accompanying datasets, based on extensive existing literature.
Humanitarian Aid: EU releases €68 million for Sudan and South Sudan
The Commission has announced today €68 million in humanitarian assistance for vulnerable communities in Sudan and South Sudan. The funding...
IEA participates in G20 energy ministerial meeting in Argentina
The International Energy Agency (IEA) joined energy chiefs from the Group of 20 (G20) countries to discuss and review the...
History Repeats Itself
Recently former Israeli Mossad Director Tamir Pardo said that Israeli Prime Minister Benjamin Netanyahu planned to attack Iran in 2011....
Extending people’s working lives could add US$3.5 trillion to OECD GDP in long run
Extending people’s working lives to reflect the ageing of their populations could release massive untapped value for their economies to...
Further reforms needed for a stronger and more integrated Europe
The European economy is growing robustly, helped by accommodative monetary policy, mildly expansionary fiscal policy and the global acceleration. The...
Russia, China and the New World Order
The state visit of the President of the Russian Federation, Vladimir Putin, to China and the talks he held with...
OPEC’s big test: A choice between right and wrong
As the Organization of Petroleum Exporting Countries (OPEC) prepares to meet later this week in Vienna, tension is rising among...
New Social Compact2 days ago
The Secret Gender plague: How The World’s Men Hate Women
Middle East2 days ago
Morocco may have lost the World Cup but could lead the way in protest
South Asia2 days ago
Is Indian Democracy Dying?
East Asia2 days ago
North Korea, the United States and the Singapore Summit Agreement
Defense1 day ago
Modernization of nuclear weapons continues- number of peacekeepers declines
Middle East1 day ago
Iran at SCO: Role, achievements, and goals
Newsdesk1 day ago
The future we want depends on innovative policies and people-centred technology
Newsdesk1 day ago
UN forum to explore use of outer space to improve lives, protect planet