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14 December 2021 Do we need more or less globalization to get out of the pandemic?

More or less turbo finance?

Or more or less state in the economy?

In short, how is capitalism responding to the virus?

On the front pages of the international press there is some response today, while the United States has more than 800 thousand covid deaths and in London, Boris Johnson's plan B passes, yes, in Parliament, but only thanks to the opposition and with the evident rebellion by a substantial part of the Conservative party against new restrictions and its prime minister.

Major research institutes have revised their economic forecasts downwards, in some cases drastically. The Munich Ifo expects 0.6 percentage points less growth in global gross domestic product (GDP) this year than its summer forecast. The economy has "slowed noticeably," IFO head of economic research, Timo Wollmershäuser, told Handelsblatt. Continuing material bottlenecks and the fourth wave of the pandemic are destroying hopes for a strong recovery. In Germany, IFO experts expect growth of only 3.7% in 2022 instead of the 5.1% previously forecast. In the fourth quarter, the German economy will even shrink by 0.5%. The Halle Economic Research Institute (IWH) expects theGerman economy stagnates during the winter. For 2022, IWH researchers expect only 3.5% growth. The Federal Ministry of Economic Affairs also expects a "rather weak" economic performance. The Omikron variant is causing further uncertainty. For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.  IWH researchers expect only 3.5% growth. The Federal Ministry of Economic Affairs also expects a "rather weak" economic performance. The Omikron variant is causing further uncertainty. For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.IWH researchers expect only 3.5% growth. The Federal Ministry of Economic Affairs also expects a "rather weak" economic performance. The Omikron variant is causing further uncertainty. For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.The Federal Ministry of Economic Affairs also expects a "rather weak" economic performance. The Omikron variant is causing further uncertainty. For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.The Federal Ministry of Economic Affairs also expects a "rather weak" economic performance. The Omikron variant is causing further uncertainty. For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.For IWH Vice President Oliver Holtemöller, the evolution of the pandemic represents "a great risk to the global economy". Disturbances in the global economy continue to cause companies to receive too little supplies at a high cost, resulting in production stalling. The Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak.Ifo institute expects this to continue until the middle of next year. Germany is particularly affected by the bottlenecks, which makes the country's economic outlook more bleak. 

Martin Sandbu writes: if there is one word that summarizes the economic landscape of the pandemic, it is certainly "shortages". From March 2020 onwards, our global economic system seems to have disappointed us over and over again: first it was unable to provide the necessary amount of personal protective equipment, then the inputs for the production of vaccines, the vaccines themselves, the raw materials. , semiconductors, durable goods and, more recently, energy. The economic consequence - inflation - has come harder and faster than most people expected, but not as hard and fast as the political conclusions of many leaders: namely, that neither globalization nor capitalism is suitable for purpose. Globalization, because it has eroded national control over the supply of vital goods.Capitalism, because private companies have designed their production for "just in time" rather than "just in case" considerations, giving priority to efficiency in normal times over resilience in extraordinary times. Here then is that all the great economic powers, and even many smaller ones, have acted to bend the models of globalized capitalist production towards forms more within the reach of national authorities. The main factual premise of the new doctrine of resilience and autonomy, however, is false. The pandemic has put capitalist globalization to the test, with sudden and huge surges in demand, and the latter has passed with flying colors. The real supply of durable goods is at record levels. Since the summer of last year,American consumers are buying in much larger volumes than in the pre-pandemic trend. Many European economies, including Germany, Italy and the Netherlands, have also reached or exceeded the levels of consumption of durable goods in 2019. 

There is no reason to think that renationalized supply chains - the reverse of globalization - can increase production faster than our current system. And why should we expect a more state-directed production system - the reverse of capitalism - to be more equitable or more resilient, given the inability of states to ensure adequate supplies "just in case" or to distribute vaccines fairly throughout. the world? At best, we can hope to change something on the fringes of globalized capitalism to make it work even better.

The European Antitrust has authorized the merger of the two groups, an operation that exceeds 13 billion euros, provided that Veolia carries out several further divestments, in particular in France in the hazardous waste sector.

Even with these sales, Suez, after the takeover bid, will still bring Veolia 10 billion euros in additional turnover.

In the Netherlands, local authorities impose the requirement to access most of the closed spaces, from bars to restaurants, from gyms to sports halls, concert halls.

First six confirmed cases of omicron variant.

The first two omicron cases have been identified in Cantabria and another 17 are being studied.

The first two omicron patients are two women returning from Madrid, vaccinated and with mild symptoms.

More than 3,500 families in Cantabria have booked the pediatric vaccination for their children on the first possible day.

The campaign against the flu slows down due to a shortage of doctors and vaccines.

Logistical problems accentuate the difficulties of the health service at this stage.

The Government prepares more fiscal aid to alleviate the unstoppable increase in light.

The measures will take effect in 2022, as electricity tariffs hit a new all-time high.

Belgium received an initial supply of pediatric vaccines yesterday. Two consultative bodies solicited, insist on the need for a conscious and not obliged choice of parents.

Lauterbach: too few vaccines for boosters.

The orders already on the agenda for the end of the year are insufficient.

The incidence drops to 353 but another 453 covid deaths in 24 hours.

"We have a shortage of vaccines for the first quarter of 2022," the Minister of Health told the ARD news last night.

This surprised many.

"Me too," said Lauterbach, who is already working to remedy the deficiency.

"I hope to be able to convey a positive message in the coming days".

Efforts go through all channels, even those directed at companies, but everything must be EU compliant.

"This is where we need to gain speed."

Over 1000 companies have changed their advertising slogans for the campaign, which has been running since 7 December with the hashtag #Insieme contro Corona. BMW now has "joy in vaccination", Ritter Sport points to "square. Practical. Vaccinated" and a box of chocolates that looks like a yellow vaccination certificate. "Let's vaccinate our way" is the modified Volksbanks slogan. Condom manufacturer Durex says, "It's better to be vaccinated." Federal Chancellor Olaf Scholz (SPD) welcomed this initiative shortly before taking office and called it an "outstanding example of social responsibility". L'Advertising agency that initiated the vaccination campaign of many companies has increased security measures for its office after angry phone calls from vaccination opponents, the head of the agency confirmed to FAZ. 

About 3,500 people took to the streets in Magdeburg on Monday evening, nearly as many in Rostock. Half a dozen police officers were injured during the protests in Mannheim. And, of course, other people demonstrated again in many places in Saxony against the alleged harsh anti-pandemic restrictions. But let's not talk about the other Germans, many more. Queues for vaccinations are increasing, on average 900 thousand third doses per day in the last 5 days.

Nearly 100 Conservative Party MPs vote against new government restrictions.

If he continues to ignore the party, Boris Johnson's leadership is at risk, the warning addressed without preamble to the prime minister.

The government is studying further measures.

Domestic bubbles and social distancing taken into consideration in case of deterioration of the situation, while the omicron variant is rampant.

Chris Whitty warns: We must expect a significant increase in hospitalizations.

In Scotland Nicola Sturgeon asks not to exceed three in indoor meetings.

The queues for the call lengthen by the hour on the sidewalk.

While our politicians are losing their minds, we say: calm and cool like the Queen, who will host her family at Christmas.

The prime minister accuses the largest revolt in his own party since the start of the pandemic, with scores of Tory MPs ignoring the contagion curve and the alarm of the government opposing new restrictions.

Yesterday another 59 thousand infections and 150 deaths.

Allison Pearson: rebels?

These are the real conservatives, they are fighting against the tsunami of alarmist warnings from pseudo scientists.

369 votes in favor, 126 against, the prime minister abandoned by 99 conservatives who challenge his leadership: he is forced to rely on the votes of Labor.

The poorest countries in the world are less able to administer the vaccine doses that have in the graph the percentage of available vaccines consumed, in Japan or Denmark we are close to 100%, in many African countries we are below 50%

Friday, a swarm devastating tornado swept through Kentucky.

Prominent figures in the state appealed for federal aid, which was promptly and justly granted.

Helping people and communities in need is what nations should do.

Observers could not help but note, however, that some of the Kentucky politicians calling for help, most notably Senator Rand Paul, in the past had not only opposed aid for other disaster-stricken states, but had mocked the their pleas. 

Surprisingly, if you look at how the federal budget affects regions of the United States, there is a consistent pattern in which conservative states that preach the importance of self-reliance are in fact heavily subsidized by liberal states, especially in the Northeast. .

Kentucky, where residents received an average of $ 14,000 more from Washington than they paid in taxes. To put this into perspective, Kentucky's net inflow of federal funds in 2019 - $ 63 billion - was about 30 percent of the state's GDP that year.

What is not good is when states that are huge net beneficiaries of progressive taxation and the social safety net strut and pose for self-sufficiency and the ills of big government.

The desperate attempt to reach the United States does not stop. This week saw another tragedy again: a crowded truck traveling to Chiapas overturned, killing 55 migrants and seriously injuring 3 people, most of them originally from Central America. The news was disclosed by the Attorney General, human rights sector, who promptly took over the investigation.   

The accident occurred on a highway in the state of Chiapas, the main access point for immigrants, when the trailer hit a wall, presumably due to speeding. In total, 160 migrants were traveling in the vehicle, of which 95 originating from Guatemala, the Dominican Republic, Mexico and Ecuador. The bodies were covered with white sheets, lined up on the street, in the midst of an intense mobilization of paramedics, authorities and local residents. "Don't fall asleep! Don't close your eyes! Remember what you promised your mother! Bear!" a migrant pleaded with his travel companion after the accident. The injured were transferred to public and private hospitals, while theNational Institute for Migration reported that it is working to "identify the bodies, cover funeral expenses and facilitate their repatriation".   

Mexican President Andrés Manuel López Obrador in a message on Twitter commented underlining that it was a "very painful" event. "I am in solidarity with the families of the victims - said Guatemalan President Alejandro Giammattei in his account - we will offer the victims all necessary consular assistance, including repatriation." The tragedy occurred three days after a criticized US program that forces migrants waiting in Mexico for asylum requests to be answered.

The Russian export pipeline Nord Stream 2, currently undergoing certification with European regulatory bodies, has found a another serious opponent. According to the new German Foreign Minister Annalena Berbock, it cannot be put into operation because it does not comply with the rules of European energy legislation. Russian experts associate the upcoming attacks on the energy project with the bureaucratic costs of EU legislation, however, they believe that even after the Nord Stream-2 is put into operation, operation at full capacity could be delayed for decades.

According to Berbock, who combines the high diplomatic post with that of co-president of the German Green Party, "in the current state of things, it is not possible to approve the work of Nord Stream -2, as it does not comply with European rules" .

The new head of German diplomacy did not disclose the details of his claims about the Nord Stream-2, speaking only of the project's inconsistency with European energy legislation and, in particular, with EU regulations. Obviously, these are the reasons why the German Federal Grid Agency suspended the certification of the pipeline operator, the Swiss company Nord Stream-2 in mid-November. The regulator considered that this company, formally owner of the offshore section of the pipeline, would harm competition from other energy suppliers to the European market, as its area of ​​responsibility will extend not only to transport, but also to the sale of "blue fuel" in EU countries. According to EU law, these obligations must be strictly divided:one company must be a supplier of hydrocarbons, the other must provide transportation services, and the third must distribute raw materials among specific consumers.

Gazprom has found a way out: Nord Stream-2, wholly owned by the Russian monopolist, has announced the creation of a German subsidiary specializing in the marketing of Russian gas supplied through the new route.

This facility will receive both material goods - pipelines that pass through the territory of the Old Continent and belonging to our country - and personal and financial ties for customer service.

According to Nord Stream 2 representatives, the legal constitution of the new branch has already been completed and the bureaucratic process for the approvals is underway, which could take several months.