Tag Archives: Featured

Eleven countries in Europe have introduced a CO2 tax on plane tickets. Opponents of such a levy won a first victory in the Swiss parliament earlier this month. An overwhelming majority of people in Switzerland appear to be in favour of introducing a tax on plane tickets to help reduce greenhouse gas emissions. An online poll, published by the SonntagsZeitung newspaper, showed that 70% of respondents said they were...

These three dynamics render capital increasingly vulnerable to catastrophic losses as backstops and distorted markets fail. The undeniable reality of the 21st century economy is that capital has gained while labor has stagnated. While various critics quibbled about his methodology, Thomas Piketty’s core finding–that capital expanded faster than GDP and wages/salaries (i.e. earned income from labor)–is visible in these...

The Recline and Flail of Western Civilization and Other 2019 Predictions “I think it’s a tremendous opportunity to buy.  Really a great opportunity to buy.” – President Donald Trump, Christmas Day 2018 Darts in a Blizzard Today, as we prepare to close out the old, we offer a vast array of tidings.  We  bring words of doom and despair.  We bring words of contemplation and reflection.  And we also bring words of hope...

Globalisation is not just an economic process but also has social, political and cultural aspects. (Keystone) Switzerland was the most globalised country in the world, according to a 2016 survey by the KOF Swiss Economic Institute. It moved up one place to the top compared with the previous year. The Netherlands, Belgium. Sweden and Britain followed in the next places. The United States are in 23rd place and the...

Growing old is something that happens to nearly all of us. However, according to a recent study close to one in three people (28%) reported age-related discrimination in Switzerland in 2017. ©-Photovs-_-Dreamstime.com_ - Click to enlarge The rate of age discrimination (28%) is higher than sexism (22%) and racism (12%), according to Christian Maggiori, a professor focused on social work interviewed by the newspaper La...

The $1.1475-$1.1550 is an important area for the euro. Many bulls see a rounded bottom being carved and a break above it would be embraced as a confirmation. The lower-end corresponds to the 100-day moving average. Such a bottom pattern, if confirmed, would project toward $1.1800 the high in H2 18. On the downside, the low from H2 18 was near $1.1200. This is just above a key (61.8%) retracement of the January...

Hans Hess (centre) says the time is right for Switzerland to agree an umbrella deal with the EU. (Keystone) - Click to enlarge Switzerland’s largest industrial employer, the Association of Mechanical and Electrical Engineering Industries, has come out in favour of a controversial accord, covering relations with the European Union. Hans Hess, president of Swissmem, said the draft agreement was tailor-made for...

Overview: The biggest reversal in the S&P 500 since 2010, allowing it to string the biggest two-day rally in three years helped lift Asian and European shares today. All the Asia-Pacific equity markets advanced today but Japan, where the strength of the yen saw the Nikkei and Topix buck the move. European equities. The 1.4% rally in the Dow Jones Stoxx 600 near midday in Europe retraces 2/3 of this...

The Federation of the Swiss Watch Industry is the industry’s leading trade association. It has more than 500 members representing more than 90% of all Swiss watch manufacturers. (Keystone) The Swiss watchmaking industry expects a continuing rise in exports next year but is concerned that the United States’ protectionist trade policy could have a negative impact on the sector. Jean-Daniel Pasche, president of the...

People do not just disagree on what should and will happen, but they disagree on what has happened. As William Faulkner instructed: “The past is not dead. Actually, it’s not even past. This is clear in the narratives about the sharp drop in equity markets. It seems that the most common explanation places the onus on the Federal Reserve. Fed Chair Powell’s was seemingly hawkishness in early October (during a time when...