Another inequality gap in the world is emerging: broadband usage. If you use a smartphone, you should count yourself among the world’s elite. The top 10% of broadband users consume 90% of the world’s bandwidth. Obviously, this bottleneck will only get worse in the future. So talk fast now.
The European economic situation does not appear to be moving in any direction. Italian bonds yields remain high, Hungary’s debt was declared junk by Fitch, who now joins S&P and Moody’s in that assessment, and economic activity appears to be weakening. And yet the official mantra of European governments remains “austerity,” a policy that will only deepen the economic weakness in the short run. It is truly mind-boggling how ill-advised that policy is under these circumstances.
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