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Generational Dynamics Web Log for 15-Apr-2014
15-Apr-14 World View -- Major terrorist explosion in Nigeria's capital kills over 70

Web Log - April, 2014

15-Apr-14 World View -- Major terrorist explosion in Nigeria's capital kills over 70

European Central Bank to adopt negative interest rates

This morning's key headlines from GenerationalDynamics.com

Major terrorist explosion in Nigeria's capital kills over 70


Aftermath of terrorist explosion at bus station in Abuja, Nigeria, on Monday (BBC)
Aftermath of terrorist explosion at bus station in Abuja, Nigeria, on Monday (BBC)

Nigeria's terrorist group Boko Haram is being blamed for a massive explosion at a bus station during rush hour on Monday in Abuja, the country's capital city. More than 70 people were killed, and hundreds injured.

Boko Haram has conducted to many terrorist attacks in northeastern Nigeria that they're almost being ignored (except, of course, by the people directly affected). 1500 people, mostly civilians, have been killed this year, and 135 people were killed on Wednesday and Thursday of last week alone. These attacks have received little or no international notice, and even in Nigeria they were considered so remote they could be ignored in Abuja, where there hadn't been a terrorist attack in two years.

In the past, Nigeria's government has been largely ineffective in containing Boko Haram, and there have been suggestions that some in the army are either complicit or supporting. Monday's attack may force a change. BBC

European Central Bank to adopt negative interest rates

The Fed's policy of quantitative easy, which has "printed" tens of billions of dollars of new money every month and injected it into the banking system, is now going to be copied by the European Central Bank, according to reports. For almost two years, the euro zone has been in a deflationary spiral, with the inflation rate falling, and with Slovakia, Portugal, Greece and Cyprus already in actual deflation.

On Saturday, European Central Bank president Mario Draghi said:

"The strengthening of the exchange rate requires further monetary stimulus. Thatís an important dimension for our price stability."

This Delphic remark is being interpreted by experts as indicating that the ECB will soon begin "printing" money and pursuing a policy of quantitative easing. Draghi may also lower interest rates, and some reports indicate that he will implement negative interest rates. Irish Times and CNBC

Standoff continues in eastern Ukraine

The government of Ukraine in Kiev allowed its own deadline to pass on Monday morning without taking any action against the pro-Russian protesters occupying buildings in cities across eastern Ukraine. Russia continues to have tens of thousands of troops along Ukraine's border, and many fear that Russia will invade and annex eastern Ukraine, just as it annexed Crimea. However, a number of analysts are pointing out that eastern Ukraine is very different from Crimea. In Crimea, the ethnic Russian population overwhelmingly favored being part of Russia. But in eastern Ukraine, polls have shown that many ethnic Russians are strongly opposed to a Russian annexation, and there's a possibility that if the Russians invade eastern Ukraine, then they'll be fighting not only Ukraine's army, but also many civilians. For that reason, Russia's president Vladimir Putin will be very reluctant to order an invasion, according to these analysts. However, if violence in east Ukraine continues to escalate, then Kiev and Moscow may be forced to intervene militarily. CNN

(Comments: For reader comments, questions and discussion, see the 15-Apr-14 World View -- Major terrorist explosion in Nigeria's capital kills over 70 thread of the Generational Dynamics forum. Comments may be posted anonymously.) (15-Apr-2014) Permanent Link
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