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Et mistrøstigt tysk folk går til valg d. 23.februar. Mistrøstigt, fordi Tysklands økonomiske model er ved at bryde sammen - og der er ikke nogen plan B. Mistrøstigt, fordi den konservative topkandidat CDU-leder Merz har brudt sine løfter og stemt for skrap indvandrerlov med støtte fra højre-ekstreme AfD - for første gang siden anden verdenskrig. Mistrøstigt, fordi 20 års stabilitet risikerer at ende i demokratisk ustabilitet - og et politisk center, der kan krakelere. Deltagere: Nantke Garrelts, Michael Reiter og Jacob Funk Kirkegaard. Vært: Steffen Gram.
Der ligger en følelse af nederlag over Washington, demokraternes politiske højborg. Og den følelse gør ondt! Demokraterne ved, at Bidens værk bliver revet ned, at de ikke kan stoppe Trump de næste to år - at de skal begynde forfra. Trump er gået til angreb på systemet, på institutionerne. Embedsmænd bliver udspurgt om deres loyalitet! Statsansatte får tilbudt tidlig fratrædelse. Statsapparatet venter! De amerikanske vælgere vidste, hvad de stemte på - og de stemte på Trump. På mandag flytter han ind i Det hvide Hus - for at forandre USA og supermagtens rolle i verden. Det er Verden ifølge Gram. Gæster: Anne Alling, Niels Bjerre Poulsen og Jacob Funk Kirkegaard. Vært: Steffen Gram.
While the term Japanification is usually taken negatively, Japan actually managed a very challenging economic situation with an ageing population and low productivity growth. As the rest of the world grapples with the same structural decline in population, Rebecca Christie sits down with Jacob Funk Kirkegaard and Takeshi Tashiro to explore what lessons Europe and beyond can learn from Japan's experiences, what worked and what didn't work, including fiscal sustainability, private savings, as well as workforce participation and productivity.
6000 milliarder kroner. To gange Marshallhjælpen. Så meget skal Europa investere – årligt – i at forbedre sin konkurrenceevne og sikkerhedssituation, hvis ikke vi skal ende som global taberregion. Sådan lyder den digre analyse fra den tidligere chef for Den Europæiske Centralbank Mario Draghi, som netop har afleveret en 400-sider lang rapport om Europas tilstand. Er det realistisk at finde investeringer for fem procent af Europas BNP? Hvis ikke, hvad er så konsekvenserne? Gæst: Jacob Funk Kirkegaard, seniorforsker ved Peterson Institute For International Economics (PIIE) i Washington DC og Bruegel i Bruxelles Vært: Kaare SvejstrupSee omnystudio.com/listener for privacy information.
Kamala Harris og Donald Trump ved, at nattens debat kan blive afgørende for vælgernes valg. Joe Bidens exit vendte valget på hovedet. Donald Trump skal debattere en kvindelig modstander, han aldrig har mødt og kun svinet personligt til. Kamala Harris skal forsøge at håndtere en modstander, der helst ignorerer "fakta" og går efter personen. Vil hun gå efter ham, som den anklager hun er? Hvordan bliver udfaldet af deres duel? Og hvem har mest at tabe? Gæster: Anne Alling, Sidsel Nyholm, Jacob Funk Kirkegaard. Vært: Steffen Gram.
Featuring: Bloomberg's Ed Baxter speaks to Josh Wingrove, Bloomberg White House Reporter on President Joe Biden telling lawmakers and donors to end revolt over his candidacy. They also discussed the White House addressing Biden's health.Jacob Funk Kirkegaard, Senior Fellow at Peterson Institute For International Economics discusses what's next for France after their electionQuincy Krosby, Chief Global Strategist for LPL Financial discusses her outlook on the inflation data coming later in the week.Anna Rathbun, CIO at CBIZ Investment Advisory Services discusses her outlook on markets Apple: https://podcasts.apple.com/us/podcast/bloomberg-daybreak-asia/id1663863437Spotify: https://open.spotify.com/show/0Ccfge70zthAgVfm0NVw1bTuneIn: https://tunein.com/podcasts/Asian-Talk/Bloomberg-Daybreak-Asia-Edition-p247557/?lang=es-esSee omnystudio.com/listener for privacy information.
De skal tale risiko for krig over Taiwan. De skal tale narko og micro-chips. Ukraine, Putin og Gaza. Handel - og samhandel. Joe Biden og Xi Jinping skal forsøge at samle den debat op, som amerikanerne skød ned med den kinesiske spionballon. Men ingen siger, at det vil lykkes, for den gensidige mistillid er monumental. Og de to præsidenter er svækkede - af dårlig økonomi i Kina og forestående valg i USA. Så forventningerne er beherskede til deres topmøde - det vigtigste i år - selvom det globale samfund kan trænge til solide resultater. Gæster: Jacob Funk Kirkegaard, Friis Arne Petersen & Philip Róin. Vært: Steffen Gram.
Konflikten mellem Israel og Hamas sætter endnu engang spot på EU's svære balancegang i udenrigspolitikken. For mens von der Leyen igen og igen gentager støtte til Israel, viser stadig flere medlemslande deres uenighed. Men kan splittelsen ende med at sende Europa ud på den globale sidelinje? "Homeland Economics" kalder the Economist tendensen, hvor både USA og EU er mere og mere forhippet på at kontrollere forsyningskæderne og bringe vigtig vareproduktion hjem. Hører vi globaliseringens svanesang? Gæster: Rasmus Nørlem Sørensen, chefanalytiker Demokrati i Europa Oplysningsforbundet (DEO) og Jacob Funk Kirkegaard, The Peterson Institute for International Economics og German Marshall Fund. Tilrettelæggelse: Asta Handberg og Sven Johannesen. Vært: Henrik Lerche. Lyddesign: Jonas Johs Andersen. Redaktør: Tine Møller Sørensen.
Lampedusas strande er igen fyldt med desperate mennesker, der har krydset Middelhavet. Italienerne raser, og Ursula von der Leyen har endnu engang lovet hjælp og europæisk solidaritet. Meget af det hun tilbyder, ligner det, man forsøgte i 2015 - som i mange tilfælde gjorde ondt værre. Og der er stadig langt til den interne solidaritet i EU, når det handler om flygtninge og migranter. Margrethe Vestager har pauset sit magtfulde job som vicepræsident og kommissær for at efterstræbe et nyt job som formand for den europæiske investeringsbank. Og hun er ikke alene, også ministre fra både Spanien og Italien byder sig til. Men hvorfor er der pludselig kø til et job, som hidtil har været nærmest usynligt? Gæster: Anne Ingemann, forsker ved Center for Krigsstudier på Syddansk Universitet og Jacob Funk Kirkegaard, seniorforsker ved Peterson Institute og German Marshall Fund. Tilrettelæggelse: Inge Scheel Kelstrup og Nickolaj Sander. Vært: Henrik Lerche. Lyddesign: Jonas Johs Andersen. Redaktør: Tine Møller Sørensen.
A guerra na Ucrânia completará um ano em 24 de fevereiro sem um final à vista. Em nenhum momento desde o fim da Guerra Fria, a geopolítica causou tanto impacto nos mercados globais, já abalados pela pandemia de Covid-19. Energia e alimentos foram as commodities mais afetadas, com forte elevação de preços e grande volatilidade, produzindo significativas repercussões econômicas, sociais e potencialmente políticas no mundo todo. Diante desse contexto, cabe observar de perto as tendências presentes nos mercados globais de alimentos e energia, em busca de informações indispensáveis para compor cenários macroeconômicos e políticos plausíveis para 2023 (com um olho em 2024). Quais as probabilidades de novos aumentos abruptos dos preços de petróleo e gás? Terá a Europa reduzido estruturalmente a sua dependência da Rússia em matéria energética? Poderá compensar a Rússia essa perda com maiores exportações para a China? A inflação de alimentos continuará a dificultar a vida dos Bancos Centrais e a fomentar a insatisfação social e possivelmente instabilidade política, em especial nos países em desenvolvimento? Neste debate, quatro especialistas convidados pela Fundação FHC e pelo The German Marshall Fund of United States abordaram essas questões. - PAINEL 1 - MERCADO DE ALIMENTOS JOSEPH W. GLAUBER Ex-economista-chefe do USDA, pesquisador do International Food Policy Research Institute e do American Enterprise Institute. MARCOS JANK Engenheiro, coordenador do Insper Agro Global e conselheiro de diversas empresas do setor de agronegócio. Mediação: Sergio Fausto, diretor geral da Fundação FHC. - PAINEL 2 - MERCADO DE ENERGIA CLARISSA LINS Economista, sócia da Catavento Consultoria e integrante de conselhos de administração e sustentabilidade de diversas empresas. ELINA RIBAKOVA Economista-chefe do Institute of International Finance e fellow visitante no think tank Bruegel. Mediação: Jacob Funk Kirkegaard, senior fellow no The German Marshall Fund of the United States (GMF) e no Peterson Institute for International Economics (PIIE).
Nancy Pelosi's foragt for det kinesiske regime var krystalklart før rejsen til Taiwan. Hun tog afsted for at demonstrere sin og USA's støtte over for et aggressivt Kina. Besøget fik Xi og hans generaler til at handle. Missiler er fløjet over Taiwan. Krigsskibe og jagerfly har demonstreret, hvordan Kina vil integrere Taiwan. Forholdet til USA er kølet yderligere ned. Så hvad fik Nancy Pelosi egentlig ud af sit besøg? Lyt med i Verden ifølge Gram, hvor Kjeld Erik Brødsgaard, Andreas Bøje Forsby og Jacob Funk Kirkegaard udlægger konsekvenser af Pelosi's besøg - og risikoen for krig. Vært: Steffen Gram.
I det første af to sommerprogrammer om alle de kriser, der truer verden netop nu, bringer vi klip fra tidligere udsendelser om de økonomiske konsekvenser af krigen i Ukraine. For Ruslands invasion har ikke bare blokeret millioner af ton korn i Ukraine og dermed udløst en global fødevarekrise. Den har også forværret en energikrise og en finanskrise, som allerede rumlede inden krigen. Vært: Steffen Gram. Gæster: Helle Munk Ravnborg, seniorforsker på DIIS og tidl. forperson for Mellemfolkeligt Samvirke. Jacob Funk Kirkegaard, forsker i økonomi ved Peterson Institute og ved German Marshall Fund. Ulrik Vestergaard Knudsen, vicegeneralsekretær for OECD. Kjeld Erik Brødsgaard, professor ved Institut for International Økonomi, Politik og Business på CBS. Camilla Nørup Sørensen, lektor på FAK med særligt fokus på Kinas rolle som stormagt.
Debatten i FN's Sikkerhedsråd var ophidset. "Måske er det lettere ikke at lytte til sandheden," sagde Charles Michel, præsidenten for Det Europæiske Råd, da Ruslands ambassadør stormede ud af Sikkerhedsrådet. EU havde anklaget Rusland for at skabe en global fødevarekrise. Millioner tons korn er strandet i ukrainske havne, blokeret af russiske krigsskibe, millioner sulter - men russerne anklager Vesten for at skabe krisen med sanktioner. Og fødevarekrisen er bare én krise. Energi- og finanskrise rammer også en sårbar verden. Gæster: Ulrik Vestergaard Knudsen, Helle Munk Ravnborg og Jacob Funk Kirkegaard. Vært: Steffen Gram.
Aldrig er et samfund blevet ramt så hårdt af sanktioner, som Rusland er i dag. Sjældent er samfund verden over ramt så hårdt af en krig, de ikke er med i. Mangel på hvede rammer verdens fattige. Sultkatastrofer er på vej. Energipriser eksploderer. Olie- og gasmangel kan sende nationer tilbage i recession - lige efter coronaen. Putins krig rammer Ukraine - og truer den globale økonomi. Om gæsterne: Helle Malmvig (seniorforsker på DIIS). Ulrik Harald Bie (økonomisk redaktør på Berlingske). Jacob Funk Kirkegaard (forsker i økonomi ved Peterson Institute og German Marshall Fund). Vært: Steffen Gram.
The economic fallout from COVID-19 has compelled governments around the world to launch the largest fiscal and monetary aid programs in living memory, incurring massive deficits in the process. This is happening at the same time as a radical, new approach to economic policy making is gaining momentum: Modern Monetary Theory (MMT). Its proponents believe that governments that issue their own currencies are not limited by revenues when it comes to spending. What governments choose to spend money on is a political, not an economic decision. Opponents of MMT and deficit spending argue that there are no free lunches in modern economics. Too much government spending leads to slow growth, devalued currencies and wasteful, politicized public expenditures. On this episode of the Munk Debates Podcast, Stephanie Kelton, author of the new bestseller, The Deficit Myth, and Jacob Funk Kirkegaard, from the Peterson Institute, debate the essence of these two competing arguments. SOURCES: CBC, ABC, CNN, Bloomberg, CNBC, Yahoo Finance, Fox Business
USA er i kaos! De værste raceoptøjer i årtier hærger byer tværs over USA efter en betjents drab på den sorte amerikaner George Floyd i Minneapolis. De kommer efter tre måneders coronapandemi med over 100.000 døde, 40 millioner tabte arbejdspladser - og op til et præsidentvalg om fem måneder. Og Trump, der skulle samle nationen, raser på Twitter fra Det Hvide Hus. Gæster: Anne Alling, Jacob Funk Kirkegaard og Niels Bjerre-Poulsen. Vært: Steffen Gram.
10 års jobvækst forsvandt på 4 uger i USA. Kina har for første gang i 45 år negativ vækst. I EU undskylder von der Leyen solidariteten med Italien, der udeblev. Coronaen har frosset den globale økonomi ned. Hvordan tør vi den op igen? Gæster: Jesper Rangvid, Michael Svarer, Jacob Funk Kirkegaard. Vært: Steffen Gram.
Senior Media Advisor Kasper Zeuthen sat down with Jacob Funk Kirkegaard from the Peterson Institute for International Economics to get his take on the latest European Commission economic forecast, why protectionist trade policies harm the economy, record-level employment figures in Europe, the readiness to deal with a major economic slowdown, innovative ideas for funding Europe’s ambitious climate agenda, and the view from the United States.
Konflikter mellem Trump og resten af lederne på G7-topmødet i Biarritz blev fejet ind under tæpperne af den effektive vært, Emmanuel Macron, og en beslutning om ikke at udfordre Trump direkte. Men kriserne er der fortsat - og kræver samling, hvis de skal løses. Gæster: Jacob Funk Kirkegaard, Lykke Friis og Lars Bangert Struwe. Vært: Steffen Gram.
Jeromin Zettelmeyer and Jacob Funk Kirkegaard argue that there is reason to be optimistic that a government coalition of Merkel's Christian Democrats and the Social Democrats could work on reforms with French president Emmanuel Macron.
Senior Media Advisor Kasper Zeuthen talks to Jacob Funk Kirkegaard from the Peterson Institute for International Economics about EU's improving economy, a big window of opportunity, and what Americans get wrong when trying to make sense of it.
At a recent CNN town hall debate between Senators Bernie Sanders and Ted Cruz, Jacob Funk Kirkegaard questioned the validity of Senator Sanders’ policy proposals to spend like a Scandinavian country while only raising taxes on the wealthiest citizens. In this Peterson Perspectives interview, Kirkegaard discusses Denmark’s effective tax rate where middle class citizens are taxed nearly 50 percent of their income.
Jacob Funk Kirkegaard says Prime Minister Theresa May’s offer to grant EU citizens certain rights in the United Kingdom does not go far enough.
Jacob Funk Kirkegaard and Nicolas Véron discuss the first round of France’s presidential election and its ramifications for the European Union.
Jacob Funk Kirkegaard weighs in on UK Prime Minister Theresa May’s decision to hold a snap election to secure her position as leader of Britain’s Brexit negotiations.
Learn why the Brexit leave vote won, what it means for Europe and the US and the impact it will have on investments going forward. Brexit is the term for the British exit from the European Union or EU. It voted 52 to 48 to leave. This impacts things like trade tariffs, migration, auto and car regulations. The politicians engaged world leaders, celebrities, and everyone they could to vote to remain. Really about 3 things: 1. Unelected government in Brussels having too much control. Non-elected leaders in power. 2. Immigrants a problem - more than 1 million immigrants have poured into Europe. 3. People never voted for, and do not want political union and the interference the European Union. Do you get that? These leaders in power were NOT elected by the people. They took power and control without elections and in many cases without disclosing who is really in control behind the scenes in Brussels. May cause problems for other European countries. Scotland may want to leave UK. Spain may take control of Gibraltar. Catalonia may leave. We don’t know if the EU will survive. Even the Pope is saying European countries need to figure out how to work together. PM David Cameron resigned effective in October because he campaigned for Britain to stay and since he lost the vote, he felt he should leave. Boris Johnson, a member of Cameron’s Conservative Party and former Mayor of London voted for independence and some people speculate he may be the next PM. In general, it is believed young people voted to stay and the older people voted to leave. Interest rates low and headed lower. Currencies may be headed lower and companies who trade may have to sign new agreements. This will be negotiated for 2 years between independent Britain and the rest of Europe. It will likely get worse before it gets better. Unsure what the banks will do and if it will negatively impact trading partners. According to Vox News: "If you are Nissan or some other car producer with major production in the UK, today, the same safety standards and environmental standards allow you to sell everywhere in the European market," Jacob Funk Kirkegaard, an economist at the Peterson Institute for International Economics. But if the UK leaves the EU, "you would no longer be able to sell into other European markets, not because you face a small tariff but because you'd have to go through another set of safety certifications. This kind of thing would be repeated in every industry you can think of." Financial companies are already talking about moving headquarters from London to Germany or France. In 1958 EU was 6 countries, 28 today. EU loses the 2nd largest economy. Pound was down 8% today to a 30 year low. Will be good for trade because English goods will be more affordable. European financials (banks) are down 5 - 16% which is worrisome. Deutsche Bank is one to watch due to the derivatives it holds. Some people speculate a downgrade of it’s credit could cause another Lehman moment. According to Martin Armstrong, the real problem with the Euro is when they created the Euro, they did not consolidate countries’ debt. Individual countries having economic problems and high levels of debt causes problems for everyone because they don’t want to be responsible to bail out other countries, such as Greece. They also have a one interest rate policy for the EU, which means the ECB (like our FED) can’t provide stimulus to just one country without doing it for all 18 euro countries. Such confusion, oh my! The EU agreement allows for 2 years to negotiate an exit, so expect it to be a long road ahead. In the end, this was a vote for democracy, for the people, for freedom and independence from politicians who took power without being voted in. The EU was a governing body who took control, for example with immigration and having to take Middle Eastern refugees. The terror attacks in Paris and Brussels are said to have been a deciding factor for the exit. How does this impact your investments? Today the Dow Jones Industrial Average was down 3.39%, the S &P was down 3.58% and the Nasdaq down 4.12%. -Expect multinationals who trade a lot with England and Europe to be down until they have more clarity. Boeing was down 5.26% today, Starbucks down 2.58% and Apple was down 2.81%. -Expect a continued flight to safety. -Expect money to flow into the dollar and make it stronger which could contribute to a recession here (listen to my podcast #144 about “7 Signs Why a Recession May Be Looming”. -Expect money to flow into US markets for safety and stability. -Expect precious metals to move higher as an alternate safe haven - gold was up 4.91% and silver was up 2.43%. Mining stocks’ ETF (GDX) jumped 5.92% today. -Inverse ETF SDS (double short S & P) was up 7% today. -Expect increased volatility in stock markets. The VIX (VXX) was up 24.32% today alone! This could spill into our markets and cause a drop…if it does, it’s a buying opportunity because it will be short lived. Longer term I see a drop here and then more money coming from overseas that will eventually cause a big increase in classic stocks like those in the Dow. Keep some cash available and watch out for the rise in volatility. Keep a cool head because there’s likely to be panic around you.
Jacob Funk Kirkegaard is a senior fellow at the Peterson Institute for International Economics, with which he has been associated since 2002. Before joining the Institute, he worked with the Danish Ministry of Defense, the United Nations in Iraq, and in the private financial sector. He is a graduate of the Danish Army's Special School of Intelligence and Linguistics with the rank of first lieutenant; the University of Aarhus in Aarhus, Denmark; and Columbia University in New York. His current research focuses on European economies and reform, pension systems and accounting rules, demographics, offshoring, high-skilled immigration, and the impact of information technology.http://www.national-economists.org/podcasts/130314%20Jacob%20Kirkegaard.mp3
Recorded at WorldAffairs 2012, the World Affairs Council’s annual conference designed for global citizens seeking deeper insight, understanding and context surrounding critical issues of our day. Some of the questions addressed in this session include: What has been the effect of the current austerity measures in stabilizing the European economies? What impact will the debt crisis have on European cohesion? What are the implications of a large-scale recession in Europe for the global economic landscape? Two distinguished speakers will address these issues: Megan Greene, Head of European Economics at Roubini Global Economics; and Jacob Funk Kirkegaard, Senior Research Fellow at the Peterson Institute for International Economics.