Comment du Jour

U.S. Economic Freedom Slips Downward Again in Global Survey/Europe Lags too

While recessionary winds continue to buffet the world economy, many countries are still prospering due to innovative policies which have embraced economic growth and expanded economic opportunities and grown the middle class in places as disparate as East Asia and South America.  Yet, the United States, the world’s largest economy, has slipped downward yet again in economic freedom according to a significant new survey.

In a review of world economies, the Heritage Foundation, a Washington-based think tank, and the Wall Street Journal asserts that the American economy has declined in relative economic freedom and now ranks eleventh globally, just behind the United Kingdom.  The survey used an extensive list of comparators which effect Entrepreneurship such as  Regulatory Efficiency, Rule of Law, Limited Government, and Open Markets.

According to Anthony Kim, a policy analyst at Heritage, “The U.S. has fallen from the 6th  freest economy in the world, when President Barack Obama took office, to 11th place today in 2016. America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts.”

Regarding the survey Heritage says, “For over two decades, the Index of Economic Freedom has measured the impact of liberty and free markets around the globe, and the 2016 Index confirms the formidable positive relationship between economic freedom and progress.”

So let’s look at the numbers.  The top five free economies are Hong Kong, Singapore, New Zealand,  Switzerland and Australia.  Hong Kong, despite being a Special Autonomous Regions of the People’s Republic of China, still excels at entrepreneurship and retains the coveted number one ranking.  Singapore, not surprisingly, comes in second and New Zealand third. 

Canada, Chile, Ireland, Estonia and the United Kingdom fill out the top ten.  In all these countries a commitment to open markets and rule of law has reinforced economic freedom.

Estonia, the tiny Baltic nation once ruled by the former Soviet union, is a particular success as a market economy given that the country had suffered so long under a static socialist system.
The USA ranks in eleventh place.  The report adds, “Americans continue to lose economic freedom.  Following declines in seven of the past eight years, the United States this year has equaled its worst score ever in the Index of Economic Freedom.

Ratings for labor freedom, business freedom, and fiscal freedom have flagged notably, and the regulatory burden is increasingly costly.”   The survey adds however, that on the positive side, the U.S. prospers from open markets.  Yet, free market capitalism, the elixir of growth,  is under assault on many sides.

The report cites massive government spending and the rise of a regulatory state as hampering American efficiency and growth potential.

Among full list of 177 comparators, other E U economies,
Denmark and Lithuania come in 12th  and 13th respectively while the Netherlands ranks 16th.
Germany and the Czech Republic place 17 and 21.

The survey shows that a number of EU economies are only ranked as Moderately Free with Poland coming in 39th but France lagging behind at number 75 and Italy at 86!!

Comment du Jour

SS United States Oceanliner at berth in Philadelphia  since 1996      (JJM Photo)

An Amazing Announcement...

As relayed by the SS United States Conservancy

The JointPress Release  follows...

"CRYSTAL CRUISES ANNOUNCES PLANS TO RESTORE AMERICA’S FLAGSHIP

 

 "Crystal Cruises’ next step in expanding its award-winning fleet is truly an historic endeavor. Together with the SS United States Conservancy, Crystal today announced it will save “America’s flagship,” the SS United States, and embark on the enormous undertaking of bringing the ship into compliance with the latest standards, and returning her to oceangoing service. During the announcement, made at a press conference at the Manhattan Cruise Terminal in New York City, Crystal also committed to covering all costs associated with preserving the ship while undertaking a technical feasibility study, which is expected to be completed by the end of 2016."

Comment du Jour

Best Baguette in NYC


Until about ten years ago, it really was difficult to find a real and authentic baguette in the USA.   Yes there was the plentiful French Bread which looked like the real deal BUT somehow never had that willowy and sublime taste one often finds in France.

Notice I say often, as the genuine art of baking the baguette has been industrialized in France too and much of what passes as the traditional baguette no longer really is.  That's another story.

But here in New York there are many very good artisanal bakeries making the French Bread, and many others who assume they are.

So it came down to a contest of skills.  


Fifteen of the best Baking Tttans faced off at Sofitel Hotel to determine the Best Baguette in New York.   Sponsored by the ex-pat website French Morning, the best of the best pitted their culinary talents before seven judges, one of them the legendary chef Andre Soltner.  

Voila, the judges chose Maison Kayser an amazing place with outlets in Paris, New York, Tokyo etc.

OK, just to be certain,  your correspondent recently visited a Maison Kayser location just off 5th Avenue and 40th street at Bryant Park.   Yes, an amazing baguette and pastries too!!!

Comment du Jour

Looking Ahead at 2016; Light vs Darkness?

It’s time to consult the crystal snow globe for a look at both the likely and unexpected  events which will shape the New Year.  Serious strife both in the Middle East, and  Africa to a lesser extent, have expanded leading to a culture of conflict with the ensuing reverberations of refugees which have swamped into neighboring countries and deeper into Europe.  The appalling violence affecting Syria is no longer a regional crisis but widened through humanitarian challenges and international players, thus creating a serious threat to the global status quo. Let’s look at the map.

Middle East and Terrorism. 

First and foremost the USA, the Arab states, and Russia must redouble their efforts to solve the Syrian conflict which has taken 300,000 lives. While recent United Nations efforts to bring the warring parties together for a durable cease-fire seem quixotic, there’s simply no alternative in stopping this spreading political cancer.  

Syria must be solved this year. 

 Beyond the pure carnage, Syria offers a grisly playground for Islamic State and a gaggle of  other terrorist groups. According to the UN relief agencies, over four million Syrians have fled their country and another 6.5 million are internally displaced; that’s half the entire population!  Over one million Syrian migrants have flooded into Europe, mostly going to Germany and Sweden. Millions more are camped in neighboring Turkey, Lebanon and Jordan.  Refugees at Europe’s borders pose a searingly poignant reminder of a problem needing solution.

ISIL is stirring this witches brew through its occupation of large swaths of Syria and Iraq.

But beyond the calculation of conflict, the wider human tragedy is often not seen. Persecution and attacks on the ancient Christian communities in Iraq, Iran and Syria continues in 2016!  And killings, rape, and persecution of other groups such as the Yazidi minority, highlights a particular target of Islamic State intolerance.  ISIL’s attacks on Christians and Yazidis pose a glaring case of  Darkness versus Light.

Beyond the region, Islamic jihadi  terrorism has carried out two major attacks in France as well as the USA in the recent San Bernardino, California killings.  While Barack Obama may have wished ISIL away, the terrorist group persists and poses a clear and present danger to the U.S.

 The security ramifications of the controversial Iran nuclear “deal” are unfolding;  since the accord the Islamic Republic has tested two ballistic missiles. Moreover Tehran has flexed its political muscles both in Iraq and Syria.  Afghanistan also poses a serious challenge for global interests; shall the central government hold on against the fundamentalist Taliban terrorists or shall this land descend back into the darkness?

Latin America

There’s an amazing opportunity here if Washington seizes it.  Elections in Argentina have led to a positive change in government away from the Christina Kirchner’s socialist/statist regime to a free market and U.S. leaning administration of Mauricio Macri.  Here’s a great chance for the USA to revive once close ties with Argentina. Equally, legislative elections in Venezuela, repudiated the Chavez socialist party, creating conditions for long overdue better U.S. ties with Venezuela. Sadly, Latin America has long been an afterthought to the Obama Administration.    

Looking through the wider lens President Barack Obama, now in his last year of office, remains committed to close the Guantanamo terrorist detention facility, 107 captives remain in the prison.  But beyond the security ramifications closing the center, the President may decide to return the actual Guantanamo Naval Base to Cuba, through Executive Action.  While the American presence in Guantanamo dates to the Spanish/American War, part of the wider diplomatic deals between Washington and Havana  concern the status of this facility.  Cuban diplomats visiting the UN have hinted at a deal with the U.S. over this lingering dispute. 

East Asia

Actions by the People’s Republic of China in the South China Sea pose a looming danger to global maritime states.  Beijing’s occupation and expansion of islands and reefs in the disputed Spratley Island group impinge upon the interests of six Southeast Asian states including Vietnam and the Philippines.  Moreover, PRC policies to put the South China Sea under Beijing’s sovereignty, a Mare Nostrum, pose a wider threat to trading states such as Japan, South Korea and Taiwan.  The USA must support the Freedom of the Seas doctrine in this vital region.

On the electoral side in January, the Republic of China on Taiwan will hold free presidential elections, the outcome of which will greatly impact on the balance of peace across the Taiwan Straits between the Mainland and democratic Taiwan.  

Significantly the U.S. Presidential election holds the key to either reinvigorate the American economy and reengage the USA as a global political player or to look inwards and create a wider balkanized social dependency culture.  The hinge of fate comes in November. 

At this time let me wish my readers a Happy, Healthy and Prosperous 2016!

Comment du Jour

Christmas in New York !

While it's warm this year there still so much Christmas sprit in the City.


Let me wish my worldwide readers a Happy, Healthy and Prosperous 2016!!!!!

Comment du Jour

It's Christmas Time in the City!!


Mega Tourist Crush with Countdown to Christmas...

Commet du Jour

SS United States Saved from Scrapyard...

Historic Ocean liner saved for now...major donors come through at last minute. 
Over $600,000 was raised to save and repurpose the iconic trans-Atlantic liner. 

The SS United States is presently moored in Philadelphia just across from IKEA.   
Indeed for years friends and supporters of America's Flagship have been striving to save 
the ship from the scrapheap. 

We revisited the United States just last week in Philly.


Do visit SSUSC.org for information on keeping America's flagship afloat.