Why There Will Be Far Fewer Cars, But Many More Miles Driven

cars lot flooded disappearing

Available today at advantageous prices

– By Jeff McMahon  

 . . . . You don’t have to be Milton Friedman to figure out that car ownership is economically foolish.
“I want you, on purpose, to spend $33,000 on an asset, okay? And I want you, on purpose, the minute you buy it, to lose 11.5 percent. And on purpose to make that asset sit idle 95 percent of the time,” said Gary Silberg, the Americas head of the automotive division of the financial services firm KPMG. “You don’t have to have a PhD in economics to figure out that it’s maybe not a great idea to buy a car.
“The average price of a car in America is $33,000, the average loss is 11.5 percent, and the average idle time is over 95 percent.”
But Americans love their cars, right?
“Okay, so why do people buy cars?” Silberg asked

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Joseph Stiglitz: America has been afflicted by an ideology that doesn’t work


Exclusive: America has been afflicted by an ideology that doesn’t work, says Joseph Stiglitz

Excerpts from article by Ajith Vijay Kumar, April 28, 2018 | http://www.timesnownews.com/  https://bit.ly/2HWc1EQ

Nobel laureate Joseph Stiglitz, in an exclusive interview with timesnownews.com, talks about what is wrong with current American capitalism, rise of a new kind of politics emerging from dissent towards government and more. Here are some excerpts from the interview:

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Greek Crisis: Why Greece’s Lenders Need to Suffer

Sustainable Development, Economy and Democracy

These first excerpts from an article by Adam Davidson published in The New York Times Magazine on 28 July 2015 deserves the closest attention of anyone who wishes to have a balanced understanding of the events shaping what we call here the “Greek crisis”.

Bond traders goldman SachsThere is definitive proof, for anyone willing to look, that Greece is not solely or even primarily responsible for its own financial crisis. The proof is not especially exciting: It is a single bond, with the identification code GR0133004177. But a consideration of this bond should end, permanently, any discussion of Greece’s crisis as a moral failing on the part of the Greeks.

GR0133004177 is the technical name for a bond the Greek government sold on Nov. 10, 2009, in a public auction. Every business day, governments and companies hold auctions like this; it is how they borrow money. Bond auctions, though, are not at all…

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Greek Crisis:”Greece must sign a deal now”

Sustainable Development, Economy and Democracy

Greece line in front of bank 28jun15

In the following op-ed, thirteen prominent economists of Greek origin from around the world call on Greece to sign a credible agreement with the Europeans immediately.

Source: http://www.cnbc.com/2015/06/29/greece-must-sign-a-credible-agreement-with-the-europeans-now-commentary.html 

What would be crucial elements of a good agreement?

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Greek Crisis: Selected international media coverage

Sustainable Development, Economy and Democracy

greek crisis eading newspapersThe following listing provides links to selected references from international  sources of high quality and with quite different points of view. Access to these sources are, as might be expected, quite uneven.  About half of them require that you pay or subscribe to access full text of particles.  But over these last weeks we have done fairly well with these addresses, offering as they do some quite different perspectives on these unfolding events.

* The Guardian on Greece – http://www.theguardian.com/world/greece

* Der Spiegel on Greece – http://goo.gl/PgxiPs

* Le Monde on Grèce – http://www.lemonde.fr/crise-grecque/

* Financial Times on Greece – https://goo.gl/2lGPNu

* Krugman on Greece –  http://krugman.blogs.nytimes.com/?s=Greece

* The Economist on Greece –  http://goo.gl/LjGsf7

Other SDED coverage here: 

*  SDED on the Greek Crisishere.

*  SDED Facebook Coverage:  – here.

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Greek government-debt crisis timeline *

Sustainable Development, Economy and Democracy

wikipedia logoEssential reading from Wikipedia on this subject:

This article contains the timeline of events for the Greek government-debt crisis which began in 2009 and is ongoing. During this period many changes have occurred in Greece. The income of many Greeks has declined, levels of unemployment have increased, elections and resignations of politicians have altered the country’s political landscape radically, the Greek parliament has passed many austerity bills, and protests have become common sights throughout the country. A brief summary follows highlighting some key events since the Greek elections of October 2009.

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