Tag Archives: Turkey

What the World’s Middle Classes Are Really Protesting

By Ruchir Sharma – Still-smoldering protests from Egypt to Brazil have set off a race among scholars and journalists to identify the roots of this summer of discontent in the emerging world. Each major theory starts at the bottom, with the protesters on the street, and notes a common thread: young, Twitter-savvy members of a rising middle class. In this telling, the protests represent the perils of success, as growing wealth creates a class of people who have the time and financial wherewithal to demand from their leaders even more prosperity, and political freedom as well.

This is a plausible story, often well told.

Maybe the place to start searching for a common thread is not in the streets but in the halls of power. Among the 20 largest emerging nations, the ruling party has now been in power for slightly more than eight years on average, or roughly double the average 10 years ago. more> http://tinyurl.com/l3oz8ux


The global middle class awakens

By David Rohde – From Turkey to Brazil to Iran the global middle class is awakening politically. The size, focus and scope of protests vary, but this is not unfolding chaos — it is nascent democracy. Citizens are demanding basic political rights, accountable governments and a fairer share of resources.

The movements may lose their way. The demonstrations will have a limited long-term impact if they fail to become organized political movements. And the violence and criminality that erupted during some protests in Brazil have prompted a popular backlash. more> http://tinyurl.com/mqv7evt

With or without euro, Europe must raise its game

By Alan Wheatley – If Europe wants first-class infrastructure and a comprehensive welfare state without piling up ever more debt, governments need to shake up working habits to generate the growth that spins off tax revenues.

“Even if Europe were firing on all cylinders, it would be one of the slowest growing regions in the world,” said Douglas Roberts, chief international economist at Standard Life Investments in Edinburgh.

The rise of China and India, of Brazil and Turkey, deals a double blow to Europe.

They can manufacture more cheaply, signing the death warrant of many labor-intensive industries in Europe and keeping a lid on wages. more> http://tinyurl.com/c7rrovm


CONGRESS WATCH Statement on the 97th Anniversary of the Armenian Genocide April 24, 2012, US Senate S.RES.399 — Affirmation of the United States Record on the Armenian Genocide Resolution, Library of Congress Related articles Updates from Senator Barbara Boxer (theneteconomy.wordpress.com)

What’s the Greek debt crisis all about?

By Louise Armitstead – Despite being poor, the Greek government has for decades sought to be generous to its people. Historians point to the war-torn decades, including a civil conflict after the Second World War that wiped out 10pc of the population followed by bloody clashes between Cyprus and Turkey in 1974: the Greek state has tried to soothe its people by creating a big welfare state and generous pay and pensions – including low retirement age and the famous 13th and 14th monthly salaries.

When it came to joining the euro in 2001, it should have been obvious that Greece did not meet the debt conditions. But, by spinning the numbers, Greece gained entry, not just to the single market but to debt markets that allowed it to borrow as though it was as dependable as Germany. more> http://is.gd/vvLIvE

Views from the Solar System (18)


Earth Observations
NASA – This unusual image was photographed through the Cupola on the International Space Station by one of the Expedition 30 crew members.

The lake just above the bracket-mounted camera at center is Egirdir Golu in Turkey, located at 38.05 degrees north latitude and 30.89 degrees east longitude. A Russian Soyuz spacecraft is docked to the station at lower right and part of the Permanent Multipurpose Module (PMM) can be seen just above it.

The photo was taken on Dec. 29, 2011.