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Under the EBA's new proposal,monster beats, <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: www.When Margaret Thatcher met Ronald Reagan in April 1975 neither was in their first flush of youth She was 50 and he 65 She was the leader of Britain’s opposition; he a former governor of California It was by no means obvious that either would win power They bonded instantlyAlthough born almost a generation and an ocean and continent apart they found they were completing each other’s sentences Both instinctive politicians rather than taught ideologues they discovered they had both found validation for their convictions in the works of Friedrich Hayek at that time a long-forgotten theorist even among conservativesFrom that sure beginning began a working partnership or political marriage that solidified the alliance between the United States and Britain at a crucial time when the Soviet Union was facing collapse and the democratic forces in Eastern Europe were pressing to be freed There have been other Anglo-American alliances Franklin D Roosevelt and Winston Churchill eventually became friends though FDR never let the English bulldog forget that America had overtaken Britain as the world’s most powerful nation and that Churchill was a supplicantPresident Bill Clinton then President George W Bush became Tony Blair’s best friend but the relationships were at best that of elder to younger brother or in the case of Blair-Bush more like man and spanielIn the case of Reagan and Thatcher however the friendship was between equals and as a result America was more powerfully and directly influenced by a foreign leader than any since the founding of the republicThe bond was not merely personal – though that proved to be the glue that allowed the partnership to survive profound disagreements including America’s initial foot-dragging over helping Britain recover the Falkland Islands from the invading Argentines and the almost comic American invasion of Grenada a member of the British Commonwealth The alliance was above all ideological Both believed conservatives had given too much ground to liberals and socialists and both determined to roll back the frontiers of the stateIn that Thatcher was more successful than Reagan though she had more ground to cover By the time she became prime minister in 1979 Britain had lived for 40 years under the wartime then postwar bipartisan consensus that established a cradle-to-grave welfare state and a mixed economy with a large state sector It is hard to believe today that until Thatcher arrived in Downing Street British coal mines steel mills railways road freight transport telephones and communications a large stake in British Petroleum (BP) even British Airways were in public ownershipThe Reagan-Thatcher friendship was also strategic In international summits they worked together as a bulwark against the interventionist ideas of their European partners who dismissed their free-market notions as “Anglo-Saxon economics”But it was in their shared attitude towards the already crumbling Soviet Union that their joint efforts bore most fruit There have been a lot of extravagant claims about the role Thatcher and Reagan played in the demise of Soviet communism which downplay the heroic acts of defiance by leaders on the front line such as Lech Walesa in Poland They also overlook the brave opponents of Russian rule to be found over the years in Russia Hungary Czechoslovakia and elsewhere – as well as the myriad humble refuseniks who risked their lives escaping over barbed wire and booby-trapped bordersPope John Paul II “the Polish pope” also played a significant part in hastening the collapse of the rotten and corrupt Soviet system By the time Reagan declared in Berlin “Mr Gorbachev tear down this wall” the Soviet Union was already defunctBut Reagan and Thatcher played a prominent role in easing Mikhail Gorbachev’s path in leading the Russian people out of serfdom The end of 70 years of brutal communism would not have been as easy and obvious as it turned out had it not been for the friendly welcome Reagan and Thatcher together and separately offered to a tired and traumatized regime uncertain of which way to proceed They offered encouraging words to those trapped behind the Iron Curtain and showed by example that state ownership was no substitute for the free market In privatization Thatcher offered a means to free-market forcesThey ensured that the awkward transformation out of communism was for the most part peaceful and ordered and was achieved without a shot being fired As Thatcher said in her eulogy for Reagan at Washington Cathedral “When a man of good will [Gorbachev] did emerge from the ruins President Reagan stepped forward to shake his hand and offer sincere cooperation”The rapport between the two leaders was spontaneous and sincere This was not the pragmatic patrician Roosevelt/Churchill alliance but one based on small courtesies and kind gestures Both were isolated figures within their own administrations: She because she was a woman who had scaled the male bastion of the still overwhelmingly male dominated Conservative Party he because he was so much older than everyone else around himThey clung to each other in moments of crisis From the earliest days they exchanged birthday and wedding anniversary greetings jotting personal best wishes in the margins of official documents They never forgot that there was frail flesh and blood behind the confident public imageLike all marriages they were so close they would often take each other for granted But in moments of high tension or intense political pressure they offered each other unwavering support In the midst of the Iran-Contra scandal Thatcher dropped a reassuring line to Reagan reminding him “there is important work to be done and that you are going to do it …If you would like to talk … call me”Both endured long and lingering demises that allowed assessments of their achievements to be both premature and hasty Looking at those who stand on their shoulders it is hard not to conclude that for all their faults they were in a different league Each has been unfairly judged dismissed because their policies were bold and seemingly uncompromisingIn fact both were eager to find common ground where it existed Both were driven by conviction rather than polling Both served to change the economic and social welfare policies of their opponents Clinton and BlairBoth were despite their extreme positions above all likeable at least to their followers and able to attract not just support but devotion In her homage to Reagan delivered on videotape at his funeral in Washington Cathedral Thatcher offered a testament that could apply to them both “Ronald Reagan knew his own mind He had firm principles and I believe right ones He expounded them clearly He acted upon them decisively” It is a lesson that conservatives on both sides of the Atlantic would do well to graspNicholas Wapshott’s Ronald Reagan and Margaret Thatcher: A Political Marriage is by Sentinel His Keynes Hayek: The Clash That Defined Modern Economicsisby W. which is released June 4. this year and some are rebuilding rainy day funds. With demand in the United States and Europe declining. corruption and inequality. All these record highs were followed by further price gains, not finance or economics.使得货币是否超发的争论一直难以平息，If you are a subscriber to Reuters Financial or Media products and have technical difficulties or questions regarding functionality,Louis Vuitton Pas Cher,Make your opinion count and shape the future of Reuters! the remaining Palestinians,monster beats, we people of the West are involved in a sectarian war with the Muslims of the Middle East."No one claimed responsibility for Sunday's attack but it was widely assumed to be a response to Nasrallah's speech by Syrian rebels or their sympathizers.Assad's Western foes are already reluctant to commit to intervention in Syria or military support for the rebels.  Perhaps they didn’t even know that the Pope had joined Twitter.As a practising CatholicIn an emotional news conference,beats pas cher,"I used to know him. maybe – but only maybe. A fresh weakening of the global economic pulse would certainly suggest so but central banks have shown again they are not going to throw in the towel in the battle to reflate The today and last night’s insistence from the Fed that it’s as likely to step up money printing this year as wind it down are two cases in point And we’re still awaiting the private investment flows from Japan following the BOJ’s latest aggressive easing thereSo where does that all leave us A third of the way through 2013 and – both western equity bulls and increasingly bond bulls too Not only have developed world equities clocked up some 13 percent year-to-date (the S&P500 set yet another record high this week while Europe’s bluechips recorded a staggering 12th consecutive monthly gain in April) but virtually all bond markets from junk bonds to Treasuries euro peripherals to emerging markets are now back in the black for the year as a whole For the most eyebrow-raising evidence look no further than last week’s debut sovereign bond fromat less than 7 percent for 10 years or even newly-junked Slovenia’s ability this week to plough ahead with a syndicated bond sale reported to already be in the region of four times oversubscribed For many people that parallel rise in equity and bonds smells of a bubble somewhere But before you cry “QEEEEE”  take a look at commodities — the bulls there have been taken a bath all year as data on final global demand hits over the past couple of monthsSo is this just an idiosyncratic random walk of asset markets (itself no bad thing after years of stress-riven hyper correlation) or can we explain all three asset directions together One way to think of it is in terms of global inflation If QE-related then pressure to remove monetary stimulus or wanes again and there may even be arguments – certainly in Europe – for more This would intuitively explain the renewed dash for bonds and fixed income in general even in the face of the still-plausible if long term “Great Rotation” idea You could argue the monetary free-for-all is buoying equities regardless of demand concerns But why wouldn’t commodities gain on that basis tooThe answer likely lies in the desperate demand among big institutional investors for income in a low-growth QE-buoyed world The paltry income left in ‘safe’ bond markets becomes less unappealing if the inflation horizon is lower than we thought and from there the push for more yield fuels all bond markets Similarly this year’s equities rally has been remarkable because it’s been led by income-like blue chip defensive stocks with decent dividends that ape bond returns – and not by growth stocks or even emerging markets which still remain in the redAnd if income is the only game in town and there’s no inflation scare then the last place you want to be is income-less commoditiesSo what’s up next week Tomorrow’s US payrolls report set the tone But next week throws up a G7 meeting heavy UK/European earnings sked Chinese trade and inflation BoE meeting and US/German bond auctionsGLOBALDATA/EVENTS TO WATCH Malaysia general elections SunEurope Q1 earnings Mon: AXA BCP NatixisEZ April services PMIs/March retail sales MonFrench debt auction MonAustralia rate decision TuesEurope Q1 earnings Tues: HSBC Lafarge SocGen Pirelli  Commerzbank Adecco Banca Generali Carlsberg Credit Agricole Swiss Q2 confidence April jobless TuesFrench March trade and industrial output TuesUS March consumer credit TuesUS 3-yr debt auction TuesChina April trade data WedsEurope Q1 earnings Weds: Deutsche Telekom CRH Aegon ING Dexia Henkel J Sainsbury Next Standard Chartered German 5-yr bund auction WedsGerman March industry output WedsMadagascar Presidential Elections WedsNorway rate decision WedsUS 10-yr Treasury auction WedsChina April inflation ThursSKorea/Malaysia/Egypt rate decisions ThursEurope Q1 earnings Thurs: Barratt Beazley WM Morrison Old Mutual Repsol Tullett PrebonUK March industry and manufacturing ThursBank of England rate decision ThursUS 3-yr Treasury auction ThursEurope Q1 earnings Fri: Unicredit ArcelorMittal TUIGerman/UK March trade Italy March industry FriG7 finance ministers and central bank governors meet in London Fri/SatEBRD meeting in Istanbul Fri/SatPakistan general elections SatBulgaria parliamentary elections Sun lack of benefits,beats by dre, Anyone that is ok with the idea of retiring to a trailer in Florida and receiving food stamps,Louboutin, (Contrast that with the NYT paywall. 相关的主题文章: <ul> <li>?mod=viewthread&tid=189093</li> <li> <li>?mod=viewthread&tid=454592</li> <li> <li>?mod=viewthread&tid=2199525</li> <li>?pid=98482#p98482</li> <li>?tid=17190&extra=</li> <li>?mod=viewthread&tid=484491</li> <li>?tid=734817&displayMode=1</li> <li>?mod=viewthread&tid=2031351</li> <li>?mod=space&uid=36865&do=blog&id=320108</li> <li>?mod=viewthread&tid=1415</li> <li>?aid=82463</li> <li>?tid=2911459&extra=</li> <li>?mod=viewthread&tid=490844</li> <li>?mod=viewthread&tid=2417605</li> 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