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Bloomberg News Responds to Bernanke Criticism
Bloomberg News – Federal Reserve Chairman Ben S. Bernanke said in a letter to four senior lawmakers today that recent news articles about the central bank’s emergency lending programs contained...
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John Adams, Barack Obama, and tax policy
By Gordon Gray – “Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.” John Adams said in...
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Updates from Congressional Budget Office
CONGRESS WATCH Cost Estimate for H.R. 3512, A bill to amend the Abraham Lincoln Commemorative Coin Act to adjust how surcharges are distributed Cost estimate for the bill as ordered reported by the...
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Chancellor Merkel’s Difficult Battle in Brussels
By Philipp Wittrock – It is a tone that one rarely hears from Berlin on the eve of a major European Union summit. “We have the impression that some actors still haven’t recognized the seriousness of...
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EU summit: le crunch
Editorial – David Cameron went to Brussels promising to safeguard the City, when financial regulation is not remotely on the agenda. Angela Merkel joined him with a plan that avoids the real issues....
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Europe’s Fiscal Pact May Solve Next Crisis, Not This One: View
Editorial – In concentrating on long-term fiscal reform and not the crisis at hand, the Dec. 8-9 European Union summit asked the wrong questions — then failed to answer even those. The agreement also...
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Euro Crisis Pits Germany and US in Tactical Fight
By Nicholas Kulish – At the heart of the debate is the question of how far governments must bend to the power of markets. Mr. Obama sees retaining the stability of markets and the confidence of...
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Euro Leaders’ Fiscal Union Pact Leaves Next Step to ECB
By James G. Neuger and Simon Kennedy – In a clash that may reshape Europe’s balance of power, the euro users took the novel approach of enshrining the debt rules in a new treaty that leaves out the...
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China’s $300 billion fund a wake-up call to U.S.
By Nick Edwards – It’s the clearest sign yet of Beijing‘s waning faith in bonds issued by Europe and the United States. Europe’s festering debt debacle, record low yields on U.S. Treasuries and a...
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Europe’s economic purgatory
By Robert J. Samuelson – Europe has entered an economic and political purgatory from which there is no early escape. Any hint that a country might dump the euro would trigger runs on banks, as...
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Defense Spending and the Deficit Debate
By Jonathan Masters – Tax policy remains the crux of the deficit debate despite the specter of automatic cuts for defense. Most Republicans in both houses have signed a public pledge (PDF) to oppose...
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How Economics Contributed to the Financial Crisis
BOOK REVIEW The Making of an Economist, Authors: Arjo Klamer and David Colander. Image @Wikipedia By John T. Harvey – A lot of blame has been spread around regarding the financial collapse and the...
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Culture: the hidden hand in public life
SMS Shortcode (Photo credit: Christopher S. Penn) By Richard Hill – With the help of new technologies and the social media, our world is changing so fast that we have difficulty in keeping up with it....
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Greeks strike against austerity, EU demands more cuts
By Ingrid Melander and Tatiana Fragou – Before they release more aid, Greece‘s financial backers have demanded parliamentary ratification of the new austerity package this weekend, the identification...
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As Greece stares into the abyss, Europe must choose
By Maria Margaronis – As I write, the Greek parliament is preparing to vote on the bond swap agreed with the country’s private creditors and on the new deal with the EU and the IMF, which would lend...
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A Way Out Of The Current Crisis? Equities
By Clem Chambers – The credit bubble that burst so disastrously in 2007/2008 was set off during the post dotcom era in an attempt by government to soften the blow of the dotcom debacle. In the...
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What’s the Greek debt crisis all about?
By Louise Armitstead – Despite being poor, the Greek government has for decades sought to be generous to its people. Historians point to the war-torn decades, including a civil conflict after the...
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G20 Inches Toward $2 Trillion in Rescue Funds for Europe
Reuters/CNBC – Finance leaders from the Group of 20, meeting in Mexico City this weekend (Feb 25, 2012), are trying to build up massive international resources by the end of April to convince financial...
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Pact for budget discipline signed by 25 EU states
By John O’Donnell – All but two European Union countries signed a treaty on tighter budget discipline for the euro zone on Friday (Mar 2, 2012), marking a coup for Germany which pushed for the accord...
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Out of intensive care, Europe risks chronic illness
By Paul Taylor – Last week’s European Union summit was the first in two years that was not totally dominated by fire-fighting in the currency bloc’s sovereign debt crisis. The relief was audible....
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Watch Bernanke’s ‘Little’ Inflation Capsize U.S.
By Amity Shlaes – A little is all right. That’s the message Federal Reserve Chairman Ben S. Bernanke has been giving out recently when asked about the evidence of inflation in the U.S. recovery....
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Eurozone debt crisis: how Greece could exit the euro
By Alistair Osborne – It would take place late on a Friday night, after the markets closed, or possibly Saturday morning. It would also signal the start of what Saltiel* sees as the “containment” phase...
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The Fiscal Game in Washington Is at Odds with Reality
US annual federal deficits 1901 to 2006(Photo credit: Wikipedia) By Henry J. Aaron – Let’s play a game. You are a legislator in a fictional country. You pride yourself on being fiscally responsible....
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The Funniest Graph About Why the Euro Is Totally Doomed
By Derek Thompson – Here is what this chart shows. Compared across more than 100 factors measured by the World Economic Forum Global Competitiveness Report, from corruption to deficits, JP Morgan...
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Romney: Debt is like ‘prairie fire’
By Rachel Streitfeld – In an appeal to middle America on Tuesday, Mitt Romney compared the national debt to a rapidly growing fire hurtling across a prairie. “A prairie fire of debt is sweeping across...
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Europe After the Crisis
Various Euro bills.(Photo credit: Wikipedia) By Andrew Moravcsik – From the start, the euro has rested on a gamble. When European leaders opted for monetary union in 1992, they wagered that European...
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Can the Eurozone Survive?
By Mortimer B. Zuckerman – The facts of the eurozone showdown are brutally simple. Growth is stalled, even in the most successful member, Germany, and in many countries it is contracting. Unemployment...
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Banks Need ‘Push’ to Avoid Prolonging Crisis, BIS Says
English: A model that describes the competitive environment of a company’s business model.(Photo credit: Wikipedia) By Boris Groendahl – Lenders, almost four years after the collapse of Lehman Brothers...
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The Summers or Geithner nightmare
By James Saft – I can think of no-one, with the possible exceptions of Robert Rubin and Alan Greenspan, who are more closely identified than Summers and Geithner with the errors of financial leadership...
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Why America needs a debt ‘default’
By Anthony Mirhaydari – It’s clear the fiscal fight in Washington isn’t going to end anytime soon. The causes of this mess are manifold. At the core, the country abused its privilege as the issuer of...
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