Green space controversy grows

The controversy over the so-called 'Green Space' in the CAP reform proposals is growing: Green Space

A somewhat embattled farm commissioner, Dacian Ciolos, is insistent that the proposals do not amount to set aside. As farm as farm organizations are concerned, if it walks like a duck and talks like a duck ...

The farm lobby is up in arms over this proposal and are citing food security arguments advanced by the G20. However, this is not a straightforward food security/productionism versus the environment argument. I am concerned that the Commission has devised a rather blunt policy instrument that would not be very effective in achieving its objectives and would have too many unintended consequences.

Admittedly some of the more subtle policy instruments in Pillar 2 have not always worked well in terms of additionality, i.e., achieving something that would not have been achieved without spending public money. Devising policy instruments that make a difference without too many side costs is not easy, but the effort needs to continue.

The linked report also refers to the enhanced role of the European Parliament in the decision-making process. This may be an advance for democracy, but not necessarily for coherent policies and effective reform.Any source

Event Recap- Goldman Sachs Global Investment Research

On the Monday before Thanksgiving, we were fortunate enough to have with us a panel of professionals from the Global Investment Research division at Goldman Sachs. The panelists represented both Equity and Credit research segments of the division, and offered us some great insight into Research as a prospective career path. Nona and Abhi kicked off the event with a market update, choosing to keep us updated on the Foreign Exchange Market and BP's new growth strategy.

After the update, Abhi moderated a great discussion with the panelists. They each gave us a brief introduction of themselves and explained why they chose to research their specific asset class and industry. In general, those who chose to focus on equity loved the everyday volatility of markets and weighing the influence of news related shocks with their fundamental analysis. Credit, on the other hand, uses a completely different set of formulas to evaluate companies (fixed income models and yield curves), which means that excitement comes from a different perspective than Equity analysis. Overall, the panel provided a ton of useful information on a path that very few consider against more conventional options in finance.

If you're interested in Research, of any type, be sure to follow up with Goldman Sachs about summer opportunities. Great event leading up to a most bountiful Thanksgiving.

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Paysage d'hiver. Jeu de vocabulaire en ligne

Try our video maker at Animoto.

Pour rejouer, cliquez sur ce lien: Paysage d'hiver

Recherche personnalisée

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LAFD 'Ready Reserve Fleet' Deployed in Response to Wildfire Danger

LOS ANGELES - In response to escalating wildfire danger, Los Angeles Fire Chief Brian Cummings has ordered augmented staffing of LAFD’s "Ready Reserve Fleet" to ensure communities historically prone to wildfire are provided optimal protection.

The Los Angeles Fire Department was notified earlier this week by the National Weather Service that weather conditions through Friday, December 2, 2011 could lead to dangerous wildfire behavior in and near the City of Los Angeles.

As a result of this information, additional firefighting resources were put in place prior to 8:00 PM on Wednesday, November 30, 2011 and will remain in service until further notice.

Augmenting the LAFD’s daily deployment will be an extra:

• 18 Engine Companies
• 6 Brush Patrols
• 1 Battalion Command Team
• 1 Water Tender
• 1 Bulldozer Strike Team

Additionally, there will be an extra 9-1-1 Dispatcher at the Fire Department Communications Center, an Emergency Incident Technician assigned to work alongside each Battalion Chief, and a Chief Officer specially assigned to coordinate swift and effective Air Operations.

The dynamically staffed "Ready Reserve Fleet" is central to Chief Cummings' recently enacted deployment plan, allowing LAFD to respond rapidly to areas of greatest need in times of crisis.


Submitted by Brian Humphrey, Spokesman
Los Angeles Fire Department

Follow @LAFD and @LAFDtalk on Twitter and find us on Facebook

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The Chinese Plateau

It seems that China’s currency has hit a brick wall. President Obama has long pressured Chinese President Hu Jintao to curb inflation as the yuan has rapidly appreciated (gaining 3.5% this year alone, the second largest appreciation out of 25 emerging market currencies). Now however, it seems out of all emerging markets China has become a laggard. China’s currency is expected to perform the worst out of the BRIC countries during the current and following quarters.

Only a few weeks ago the reverse expectations were true. The yuan had indeed fallen, but with the Premier’s intervention to curb lending rates and plans to decrease reserve ratios, spending was predicted to increase. Bond yield spreads between short-term notes and 10-year securities were also at their highest since May, indicating an expected economic recovery to standard GDP levels (9-11%). Inflation has been the primary concern for the past few quarters. However, with the upcoming Chinese New Year in January it seems China is now appropriately worried about meeting consumer demands for loanable funds.

China now faces low demand for its renminbi-denominated bonds, extending the trend to a continuous six months. Investors clearly lack the strong backing of Chinese Dim-Sum bonds, and with good reason. If forecasters are correct and China’s exports are indeed significantly less than previous months, there is a possibility for currency depreciation. Trade surplus has already been decreasing, only $17 billion last month against 2010 October’s $27.2 billion.

The additional factor of $1.9 trillion dollars in Chinese debt accounting for 19% of GDP also has many investors worried. While it is far from U.S. debt holding 62% of GDP, China certainly seems to be on a well-worn path both the Americas and Europe are facing.

The numerous cases of beta convergence have certainly proved one fact, time-tested and proven in the U.S. itself: growth is only sustainable for so long. China’s “golden age” is subject to a plateau first-world countries now face, and with a global economic crisis it may arrive sooner than previously thought.

~Zeena AdvaniAny source