Thursday, 5 July 2018

GRAND BARGAINS, DANGEROUS CHOICES? & False Equivalences. "Land of Brave" or "The Rising Sun" . Trumps Trade War.or Who ate all the pies?






Understanding Trumps Trade war is very hard through the Lens of Orthodox Monetary measures and the economics priesthood of Wall Street, Frankfurt and the City of London. One needs to quantify the Material Resources and Energy resources used in their transformation into the Goods and necessities of Life ( Liberty and Freedom . It is July 4th).
Anyway if we dispense with the Self Evident truths of American exceptionalism and #MAGA just for a second and look at the CIA World Fact Book for our data we will find quite a different story regarding where the Stuff is done, Useful energy conversion into work, and where the Lead is being Swung, in the counting houses and Bourses of the imperial powers of Usury.
Enough of the flim-flam lets let the facts do their own talking! So Who the fuck is eating all the pies?

















#130: GRAND BARGAINS, DANGEROUS CHOICES?

&False Equivalences.
Tim Morgans Blog published this piece a few days ago I decided to go to the data and see what the two sides of the equation had to offer in hard figures. I am in the process of Converting all Energy measures to Kilo Watt hours equivalents and will then produce National energy Income balance sheets for the Embodied energy economies of The Top 10 World Economies and The top 50. Using this then as a basis to compare the Shakedown of supposed winners and losers by the debt-based financialised economy as currently presented as the best expression of our Economic realities internationally. ( This will take me a week or two, probably more)

It is the question of the distinction between The Financial Economy and traditional money measures, with and all the assumptions they entail, & the Energy Economy and its different set of assumptions. Where I find my unease with some of the conclusions arising out of a confusion of discrete Data in each, which is not related to the other. Energy Cost of Energy ( ECOE) makes perfect sense to me, but the price of a Barrel of oil in Dollar terms has no relationship to ECOE what so ever. https://drive.google.com/file/d/1PPdIcx2u_chVXwcwcbBoVE0ocIPgtlu1/view?usp=sharing
THE SHARED CHALLENGES OF CHINA AND DONALD TRUMP
One of the most ill-informed critiques of China says that, as a one-party Communist state, the government need take no notice of public opinion. The reality is quite different. It is that a ‘grand bargain’ exists between the state and the public. For their part, citizens accept the denial of certain rights which are taken for granted in many Western countries. In return, the government delivers steady improvements in prosperity.
There’s a striking parallel to this in the United States, because the presidency of Donald Trump is founded on a very similar ‘grand bargain’. Voters disaffected with a self-serving establishment have trusted Mr Trump to restore prosperity. Just like Beijing, he has to deliver.
It’s a measure of America’s political disconnect that, right from the start of his campaign, self-styled ‘experts’ dismissed Mr Trump as a “joke candidate” with no chance whatsoever…
View original post 2,185 more words











I am offering this link.
It is a spreadsheet which is an abstraction of data from the CIA World Fact Book.
There is an API now which I will get around to using to make the spreadsheet interactive to compare all Countries and tabulate/Graph Data for my own Energy Based Currency Unit.
https://github.com/iancoleman/cia_world_factbook_api
It is the question of the distinction between  The Financial Economy and traditional money measures, with and all the assumptions they entail, & the Energy Economy and its different set of assumptions. Where I find my unease with some of the conclusions arising out of a confusion of discrete Data in each, which is not related to the other. Energy Cost of Energy ( ECOE) makes perfect sense to me, but the price of a Barrel of oil in Dollar terms has no relationship to ECOE what so ever.
On Debt, the only measure of debt of any relevance to a sovereign nation-state with its own Currency Is External Debt held by foreign nationals denominated in other than the sovereign states own currency.
For US and China, the position looks like this.
COUNTRY COMPARISON:: DEBT – EXTERNAL Debt – external compares the total public and private debt owed to nonresidents repayable in foreign currency, goods, or services. These figures are calculated on an exchange rate basis.
RANK COUNTRY DEBT – EXTERNAL DATE OF INFORMATION
1 UNITED STATES $17,910,000,000,000 31 MARCH 2016 EST.
COUNTRY COMPARISON:: DEBT – EXTERNAL Debt – external compares the total public and private debt owed to nonresidents repayable in foreign currency, goods, or services. These figures are calculated on an exchange rate basis.
RANK COUNTRY DEBT – EXTERNAL DATE OF INFORMATION
14 CHINA $1,649,000,000,000 31 DECEMBER 2017 EST.
The need for Foreign Currency arises due to Current account deficits and also a lack of Foreign Reserves the current situation vis China and the US looks like this.
COUNTRY COMPARISON:: PUBLIC DEBTPublic debt compares the cumulative total of all government borrowings less the repayments that are denominated in a country’s home currency. Public debt should not be confused with external debt.
RANK COUNTRY (% OF GDP) DATE OF INFORMATION
43 UNITED STATES 77.4 2017 EST.
COUNTRY COMPARISON:: PUBLIC DEBTPublic debt compares the cumulative total of all government borrowings, less the repayments that are denominated in a country’s home currency. Public debt should not be confused with external debt.
RANK COUNTRY (% OF GDP) DATE OF INFORMATION
190 CHINA 18.6 2017 EST.
COUNTRY COMPARISON:: RESERVES OF FOREIGN EXCHANGE AND GOLDReserves of foreign exchange and gold compares the dollar value for the stock of all financial assets that are available to the central monetary authority for use in meeting a country’s balance of payments needs as of the end-date of the period specified.
RANK COUNTRY RESERVES OF FOREIGN EXCHANGE AND GOLD DATE OF INFORMATION
22 UNITED STATES $117,300,000,000 31 DECEMBER 2016 EST. 01.19445333%
COUNTRY COMPARISON:: RESERVES OF FOREIGN EXCHANGE AND GOLDReserves of foreign exchange and gold compares the dollar value for the stock of all financial assets that are available to the central monetary authority for use in meeting a country’s balance of payments needs as of the end-date of the period specified.
RANK COUNTRY RESERVES OF FOREIGN EXCHANGE AND GOLD DATE OF INFORMATION
1 CHINA $3,194,000,000,000 31 DECEMBER 2017 EST. 32.52000000%
When one drills down into the Embodied energy in Primary, Intermediary and Consumption in different economies and also looking at the range of Energy Mixes a number of Things do Jump out.
One is The Emergence of the importance of Natural Gas, Second is the Electricity Generation dynamic with some countries being large exporters of Electricity. But what is overwhelmingly clear is the US and The UK are taking rather more out than they are putting into the Pot.
COUNTRY COMPARISON:: CURRENT ACCOUNT BALANCECurrent account balance compares a country’s net trade in goods and services, plus net earnings, and net transfer payments to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis.
RANK COUNTRY CURRENT ACCOUNT BALANCE DATE OF INFORMATION
199 CANADA -$55,570,000,000 2017 EST.
200 UNITED KINGDOM -$91,420,000,000 2017 EST.
201 UNITED STATES -$462,000,000,000 2017 EST.
And of course who is not.

COUNTRY COMPARISON :: CURRENT ACCOUNT BALANCECurrent account balance compares a country's net trade in goods and services, plus net earnings, and net transfer payments to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis.


RANK COUNTRY CURRENT ACCOUNT BALANCE DATE OF INFORMATION
1 EUROPEAN UNION $387,100,000,000 2017 EST.
2 GERMANY $296,000,000,000 2017 EST.
3 JAPAN $175,000,000,000 2017 EST.
4 CHINA $162,500,000,000 2017 EST.
5 KOREA, SOUTH $85,140,000,000 2017 EST.
6 NETHERLANDS $82,440,000,000 2017 EST.
7 TAIWAN $79,000,000,000 2017 EST.
8 SWITZERLAND $67,330,000,000 2017 EST.
9 SINGAPORE $59,790,000,000 2017 EST.
10 ITALY $52,830,000,000 2017 EST.
11 THAILAND $44,000,000,000 2017 EST.
12 RUSSIA $41,460,000,000 2017 EST.
13 SPAIN $24,300,000,000 2017 EST.
14 DENMARK $23,610,000,000 2017 EST.
15 NORWAY $21,730,000,000 2017 EST.
16 IRAN $21,600,000,000 2017 EST.
17 SWEDEN $21,400,000,000 2017 EST.
18 MACAU $16,860,000,000 2017 EST.
19 ISRAEL $14,280,000,000 2017 EST.
20 IRELAND $10,940,000,000 2017 EST.
21 HONG KONG $10,060,000,000 2017 EST.

https://www.researchgate.net/publication/320445428_Global_primary_energy_use_associated_with_production_consumption_and_international_trade#pf9

3. Results3.1. Energy use associated with production and consumption world economy consumes 5.63E+08 TJ of primary energy resources (BP, 2016; IEA, 2016c). In order to identify which region is responsible for the energy use, three different accounting principles as recorded by the indicators of EED (energy resources exploited directly), EEP (energy resources embodied in production) and EEC (energy resources embodied in final consumption), respectively, are adopted inFig. 2. According to EED, mainland China, the United States, Russia, Saudi Arabia and India are the 5 largest exploiters, and together they are responsible for 51% of global total energy use. In addition, mainland China is also the largest producer with 1.22E+08 TJ of energy resources embodied in its production, based on the results of EEP.It indicates that 1.22E+08 TJ of energy resources are used globally to sustain the final production activities in mainland China. The UnitedStates is the second largest producer, followed by Japan, India and Germany. When it comes to EEC, the United States surpasses mainlandChina as the largest consumer of embodied energy. The world total energy use is the same under different accounting principles, however, the three methods differ by which region is allocated the energy use. The difference between EEP and EEC is small at the regional level,

(PDF) Global primary energy use associated with production, consumption and international trade. Available from: https://www.researchgate.net/publication/320445428_Global_primary_energy_use_associated_with_production_consumption_and_international_trade#pf9 [accessed Jul 05 2018].





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