The Economist's entrepreneurial revolutions 45 annual league table of places sees barcelona and vienna playing most critical roles as tipping points of sdgs collapse unless we get back to understanding 90% of innovations advancing human lot start small deep and long in communi8ty or family lab not 90 day extraction mba thrones. Hong MOng takes over as startup epicentral in spite of western fake media to contrary
timelines of
worldclassbrands -what if purpose of brand leaders will exponentially determine succeess or failure of our final 40 year examination in species sustainability -launched in 1988 with a series in the economist - year of brand, death of brand manager- what needed to die as the world united around death of distance technolgues was the advertising paradim of battling for minds with a different brand for every new product and in every different language- what woud be the mos importnant new geres of brands? places? faiths? big data local platforms - how would adam smith and james watt quarter of a century 1760-2010 morph into humanising moore machine intel than human as we entered 4G and 5G decades: back in 1960s alumni of moore had promised 100 times more computation power every decade 0g 1970s onwards - thats an exponential of trillion times moore by end of 2030 than needed to code moon landing- such power depended on trust in collaboration around globalistion's most purposeful brand leaders as well as integration of community sized enterprse value chains if sustainabity golals were to be a united reality not just a greenwashing game

universityofstars -what if world class sporting leagues prepped uber champoins- once you're too old to stay top of the pops in sports song or beauty, what if you already know an sdg leader you want to share your and her alumni with
-launched 2004 in delhi with 100- gandhians after seeing some early reality tv competitions as well as writing up 184's story of the critical deadlines of morphing digital and pre-digital media to be the sustainably deepest of both not the socially most trivial -more

Fascinating to track with hudson institute how many european countries have given up with the official advice of mr trump on building g5 and are letting carriers just do it with whomever offers the best deal washington dc technology's biggest leap -breaking 14 nov - many nations and continents are racing into 2020s with probably the biggest innovation crisis ever du8e to greed of governments spectrum auctions at $G #G- failure to let the peoples use 5g video would 5G exist without china -discussion welcome chris.macrae@yahoo.co.uk

Wednesday, March 25, 2020

see www.normanmacrae.net to download for free how and why The Economist first asked in 1972 whether we would be wise enough to design a globalisation not trapped by the zero-sum game of pare currencies
by 1984 our team at The Economist were asking whether we parnets and educators of millennials would track effective health services as core to why we invest in leaps in technology

current reporting in
suggest europe hasnt begun to learn that its nastions futures will not be sustained by money ments antics but last mile community health service

when you compare national health services- the uk may be underfunded but nurses are still loved in communities

spain is very peculiar- depending where you qualify annually as top 2000 medics you are assigned your health speciality- community health is not in the top rankings- this elitism and silos of health may yet turn out to be the greatest weakness

all of italy france and spain seem to me to be mixtures of 2 types or economy
idyllic ruralism
global cities where properties are now owned by international banking and by other countries richest

I dont think that idyllic ruralism of retirement has distributed health care systems of the sort the virus need to sustain idyllic rural as the place for retirees- i hope i have misunderstood and wish italy, france and spain my favorite places to relax as a holidaymaker a comeback

I dont thing the eu out of berlin and brussels gets the deepest challenge italy france spain and countries with idyllic rural now face but hope to be proven wrong.It is absolutely clear that 12 years of austerity after subprime made false savings by under-investing in local health - and by not increasingly adding the missing curriculum of peer to peer adolescent health to every nation's schools- see our summary of global missing curricula at www.economistjapan.com

back to the view out of britain where the other big story is the peoples prince charles has become corona positive ...https://www.thisismoney.co.uk/money/markets/article-8135759/Was-really-surprising-sterling-plummeted-low-week.html

The pound has plummeted to its lowest level against the dollar since the mid-80s: Why has it fallen so far when the whole world is suffering?

  • The pound tumbled to $1.15 last week, its lowest level since February 1985
  • Before the virus crisis, the pound had lost some appeal as a reserve currency 
  • U.S. Treasury markets are quite popular because of their more robust liquidity  
The pound tumbled to $1.15 last week, its lowest level since 1985, and below the point it tumbled to in the wake of the Brexit vote.
But, unlike Brexit, the coronavirus crisis is a problem affecting the whole world, so why has sterling fallen so hard against the dollar?
Sterling remains a major global currency and UK government bonds are still considered a safe haven, but in times of crisis people rush to what they judge to be the safest places. And for financiers that is usually not the pound, but the American dollar and US Treasury bonds. 
We look back at the last time the pound traded this low against the dollar and why it has tumbled so hard in the coronavirus sell-off.
The pound tumbled to $1.15 on Wednesday, its lowest level since 1985
The pound tumbled to $1.15 on Wednesday, its lowest level since 1985
When the late Paul Volcker took over the U.S. Federal Reserve in 1979, the American economy was suffering an uncommon malady known as 'stagflation' – a mix of high unemployment and inflation.
To defeat this, the Fed raised interest rates to as high as 21.5 per cent at one point. The measure instigated a massive recession that made the austere Volcker a boogeyman for many. Protesting farmers drove around the Fed building in tractors to vent their anger.
Despite the substantial economic cost, the 'Volcker shock' helped to curb price rises. But it had another significant side effect. Investors rushed to purchase U.S. government bonds, thereby causing the dollar to appreciate sharply, making exports uncompetitive.
By February 1985, sterling was trading at a record low $1.05, and the U.S. trade deficit had almost quintupled to $122billion between 1980 and 1985. 
The dollar only began to devalue following agreements at a meeting of finance ministers at New York's Plaza Hotel that September.
Volcker's extraordinary actions were a watershed moment in American financial history. Monetary policy went from the control of politicians to the technocrats, and the financial system started its journey to becoming the behemoth it is today.
An even more kaleidoscopic-shaking situation is rocking today's financial markets. The coronavirus has caused extreme economic as well as social harm in the last few months.
Paul Volcker (right) raised interest rates to as high as 21.5 per cent at one point after he took charge of the U.S. Federal Reserve to help defeat the USA's high inflation levels at the time
Paul Volcker (right) raised interest rates to as high as 21.5 per cent at one point after he took charge of the U.S. Federal Reserve to help defeat the USA's high inflation levels at the time
What financiers are currently doing in response to Covid-19 is making the Volcker Shock look placid by comparison.
But the reaction of the currencies in both instances was quite similar. The pound tumbled to $1.15 last week, its lowest level since those heady days of 1985.
In many ways, this was expected. In times of crisis, people rush to the familiar and the safe. And for financiers that is usually not the pound, but the American dollar.
As Markets.com's Neil Wilson wrote on Wednesday: 'In a crisis like this King Dollar reigns supreme.'
U.S. Treasury markets are popular because of their greater relative depth and more robust liquidity. U.S. Treasuries are the deepest and most liquid assets in the world. 
So remarks Ned Rumpeltin, European Head of Currency Strategy at T.D. Securities: 'Given the circumstances, the U.K. looks like a rather risky proposition right now, so sterling has suffered accordingly.
'Within this, we also think that this highly tense environment has made it difficult for international markets to gain access to U.S. funding for various dollar-denominated exposures. That has fueled this dash for cash that we think has resulted in GBP's weakness.'
Even before the virus crisis, sterling lost some of its appeal as a reserve currency due to the uncertainty over Brexit. 
The referendum in 2016 started a long period of political and economic uncertainty that has left investors nervous Britain will leave with weaker trading links with its largest trading partner.
Now that the coronavirus has relegated negotiations over the future UK-EU trading relationship to the background that uncertainty has been heightened again.
Viraj Patel, an FX and Global Macro Strategist at sotware firm Arkera, calls Brexit and Covid-19 the 'two de-globalisation shocks' to hit the pound in the last four years
Viraj Patel, an FX and Global Macro Strategist at sotware firm Arkera, calls Brexit and Covid-19 the 'two de-globalisation shocks' to hit the pound in the last four years 
Viraj Patel, FX and global macro strategist at Arkera, calls Brexit and Covid-19 the 'two de-globalisation shocks' to hit the pound in the last four years.
'Equally,' he adds, 'bank balance sheet funds moving out of the U.K. banking sector in recent years - as a result of Brexit trade uncertainties - makes the pound slightly more vulnerable this time around.
Sterling has also had to contend with a much more long-term problem that is rarely talked about nowadays. For decades, Britain has run large trade deficits with the rest of the world.
Our economy relies heavily on foreign direct investment to keep the pound relatively stable, so when the taps run low, the pound's value has to contract to make up for the lost capital.
Chancellor says Coronavirus is both economic and health emergency


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Will helicopter money be the antidote to the virus crisis? 

Britain has been told to stay at home, pubs have been ordered to shut and you’re not even allowed to go to the gym instead.
The coronavirus crisis has turned the consumer economy upside down. Businesses and workers risk going bust on an almost unprecedented level, unless a rescue plan that works can be cooked up.
Cutting interest rates and quantitative easing was the medicine in the financial crisis, but that’s not working this time round, so is it time to start up the helicopter and drop some money?
Helicopter money, people's QE and a universal basic income are three of the highly unusual measures suggested, but is that wise? Simon Lambert and Georgie Frost go through the financial looking glass on this podcast. 
Press play above or listen (and please subscribe if you like the podcast) at Apple PodcastsAcastSpotify and Audioboom or visit our This is Money Podcast page.  
Chancellor Rishi Sunak's £330billion bailout package did little to stop the pound sliding. Many investors are asking him to go much further in arresting this decline
Chancellor Rishi Sunak's £330billion bailout package did little to stop the pound sliding. Many investors are asking him to go much further in arresting this decline
Could this not be good for exports? In theory yes, remarks ING's Christopher Turner. However, he warns that spending is being hurt everywhere, 'so the benefits might not be as large as expected.'
If private spending is down everywhere, then governments need to take the mantle and 'do whatever it takes' as so many are asking. However, the U.K.'s colossal stimulus measures have been relatively tame by comparison to other countries.
In a briefing note co-written by Ned Rumpeltin and other senior T.D. Securities executives, they stated: 'Compared to other major countries in the region, it seems the F.X. market judged that the U.K. is behind the curve in terms of its contagion control efforts. Until that conclusion changes, we think sterling still faces downside risks.'
Chancellor Rishi Sunak needs to pull as many financial bunnies out of the hat as he can if he is to calm the markets. It is a tall order, but if £330billion did not do the trick, then hundreds of billions more may be necessary.
He really is going to have to do 'whatever it takes' if the pound is to avoid experiencing a major run. 
Sterling was already up against it before this virus wreaked its havoc across the globe. Caution and half-measures will not stop that.

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