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A Quick Look at Bloomberg News's Opinion Section for June 6, 2012

CLIVE CROOK: When a second, worse recession happens, U.S. and European
governments "won’t be able to say they were taken by surprise. It will
happen because governments have frozen in the face of hazards that are
well understood and readily avoidable." [Link]
Links:
1. http://us2.campaign-archive1.com/?u=98bac6cd6075b07f398b277fa&id=8c992c5dbe&e=002874f745
2. http://www.bloomberg.com/news/2012-06-05/u-s-and-europe-have-no-excuse-for-next-recession.html

PETER ORSZAG: Last week's employment numbers and Tuesday's CBO report
"highlight a typical pattern that occurs following a financial crisis:
Recovery tends to be sluggish, and debt tends to build up quickly." The
right policy is a "barbell approach, with more stimulus on one side
and, on the other, more deficit reduction enacted now to take effect
over time." [Link]
Links:
3. http://www.bloomberg.com/news/2012-06-05/barbell-approach-only-way-to-lift-heavy-economy.html

SUSAN CRAWFORD: The broadcast industry's lawsuit against a company
that's using tiny antennas to pick up over-the-air television signals
and send them directly to the user is "really about the pitched battle
between the highly concentrated programming-distribution industry and
the Internet." Broadcasters, who depend on bundling channels and
selling them for premium prices, are threatened by the Internet model,
which offers the option to buy single episodes instead of channels.
[Link]
Links:
4. http://www.bloomberg.com/news/2012-06-05/can-barry-diller-upend-the-tv-industry-again-.html

TIM JUDAH: "Syria is the new Bosnia and Houla is the new Srebrenica.
This is the fashionable conceit of journalists, think-tankers and
opinion makers of various stripes after last week's grotesque
house-to-house execution of 49 children, among others, in the Syrian
town." If only it were that simple. [Link]
Links:
5. http://www.bloomberg.com/news/2012-06-05/syrian-massacre-has-few-echoes-of-war-in-the-balkans.html

GARY SHILLING: "The dynamic in which the Japanese government's fiscal
stimulus is being saved by consumers and then recycled back to the
government to finance its deficit is unsustainable." The third excerpt
of “The Age of Deleveraging: Investment Strategies for a Decade of Slow
Growth and Deflation” explores the effect of low consumer saving on the
government deficit. [Link]
Links:
6. http://www.bloomberg.com/news/2012-06-05/japan-s-unsustainable-deficit-financing-model.html

YUKON HUANG: Myths about China's banks are diverting attention from its
real economic problems. "Weaknesses in the banking system -- as serious
as they may be -- are less important than the overall inadequacies of
the fiscal system in serving the needs of a state-driven economy."
[Link]
Links:
7. http://www.bloomberg.com/news/2012-06-05/tall-tales-about-china-s-banks-hide-economy-s-problems.html

THE EDITORS: Tariffs on shoes, chemicals, textiles and "that most
pernicious of imports, Barbie dolls" won't help Brazil's industry.
Instead, Brazilian President Dilma Rousseff should slash through "a tax
system worthy of the Amazonian jungle: dense, tangled and choking."
[Link]
Links:
8. http://www.bloomberg.com/news/2012-06-05/brazil-s-rousseff-should-trim-taxes-and-welcome-barbie.html

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