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Spatters of Dragon Blood

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The “Panama Papers” were a delight for conspiracy theorists, who have long contended that the global monetary system is fundamentally corrupt and that world leaders are skimming huge amounts of money off the top of it. They are, of course, correct.

But lost in the salacious details of the story has been the real business of Mossack Fonseca, which is moving money out of China. We’ve covered this story before when the official estimates were that half a trillion left China last year alone. That number, it turns out, was off by at least as much again – and possibly much more.

At least a trillion dollars left China last year through a wide variety of creative means. Mossack Fonseca’s offices in Hong Kong handle a third of their total business, moving money around the globe through over 60k shell companies at an incredible pace. How much? That’s the multi-trillion dollar question.

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A Durable City

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The noise of construction and the vision of cranes on the horizon has become a feature of urban life in Minneapolis and St Paul lately, at least in some neighborhoods. The construction industry is booming, and the structures of choice are large apartment buildings. The demand appears insatiable – and no one is building condominiums. It’s all apartments, reaching to the sky in large complexes of 100 units and more.

My own neighborhood, West Seventh, is one of the hot-spots for this development craze. But are these units a good idea? Is this what the city needs? Or are we simply building the slums of tomorrow, today?

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Japan – Down the Rabbit Hole

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For all we complain about low growth and dimming prospects here in the US, it’s a problem that has plagued the developed world. If anything, we’re doing quite well, thank you. Europe is still struggling to get out of the depression, with high unemployment – especially among their youth. China and other developing nations appear to have hit a wall, unable to round the corner and step up to developed nation status.

And then, there is Japan. “Basket Case” doesn’t begin to describe it.

We last checked in with them over three years ago when Shinzo Abe became Prime Minister and instituted what has been called “Abenomics”. Call it “Supply Side” if you want, as it emphasized growth in the money supply and a cheap Yen to stimulate growth in production. Call it “A license to print money by the Bank of Japan (BOJ)” if you’re a cynic.

But the problems in Japan are much more severe – they are demographic and social. Without a wholesale restructuring they are as doomed now as they have been for an entire generation. There’s a lesson here for everyone.

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The 1%? Try the 31%

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A lot has been made over the last decade of “The 1%”, the top wealth earners and owners in the nation. From Occupy Wall Street to the Sanders campaign there has been a call for a revolution of sorts to overthrown them and put the nation on the right path. The other 99%, the theory goes, cannot remain slaves forever.

As time has gone on, however, something strange happened to the calculus that went into describing the revolution. Those at the top of the wealth pyramid? They know there’s something wrong. Many are more than a little sympathetic, and most seem to be at least resigned to a more progressive system.

Meanwhile, genuine American fascism has risen in a boisterous and orange form. Who is the real enemy? Who do we need to rise up against? If you’re paying any attention it’s not necessarily the rich.

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The Next Economy – An 8 Point Plan

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The beauty of election season is that every citizen has an opinion and they get to voice it. Because we are a Democratic Republic, it’s usually up to the candidates running to propose very specific platforms for the voters to judge. But these are often thin on details – either because they are hard to pin down before they are fed into the complex process of making sausages, er, laws or because candidates are full of hooey.

Both are usually true. Promises are one thing, delivering quite another.

Barataria has taken the position that the economy is turning over, indeed that there is a new economy replacing the one that gradually failed. The turmoil is what has voters so angry as no one seems to be in charge. It’s also Barataria’s position that complaining without proposing a specific solution isn’t all that helpful, so here is the Barataria platform.

It leaves aside a lot to focus on one thing – turning over our economy into the next one. How do we build a dynamic system for everyone? Here are my immediate thoughts.

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