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Monthly Archives: September 2011
Serious in Syria
Things are getting more serious in Syria, which is escalating into a desperate struggle for survival by the regime. The government is using heavier weapons and more extreme reprisals — a young woman, Zainab Alhusni, whose brother is an opposition … Continue reading
Posted in The Middle East Revolts
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Deer in the Headlights
It seems that global financial leaders are starting to recognize that there is no hope of dragging the Greek crisis along until it somehow resolves without a default. However, having spent two years getting to this point, they now need … Continue reading
Posted in Uncategorized
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Economic Crisis Redux
The rapid move of markets from a low of 7,000 DJIA to 12,500 (nearly within 10% of their all-time high of 2007) over the last three years was a remarkable leap of faith. True, corporate profits were going to recover faster than employment … Continue reading
Posted in The Global Economy
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Don’t Give up on the Arab Spring
The democratic wave in the Middle East has spread from Morocco to Iraq, but with widely varying effects. Morocco has seen a conservative constitutional reform, Tunisia an emerging democracy with a surging Islamist party, Libya a civil war, Egypt a … Continue reading
Posted in The Middle East Revolts
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Lessons of History
It seems truer than ever: The only thing we learn from history is that no one ever learns anything from history. We sufferered a Great Depression in the 1930s; Japan is still stuck in its two-decade ‘great stagnation;’ and the … Continue reading
Posted in The Global Economy
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Greek Tragedy or Dashing Western? The Future of Greece
As economic leaders meet at the G-7 conclave in France, everyone is asking: will Greece fade in the last act and fall in tragic fashion? Or will western powers dash in guns blazing with additional credit and save the day? Jeffrey Sachs … Continue reading
Posted in Uncategorized
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Ten Reasons Why Growth is Dead
(1) Financial institutions still have too many toxic assets, including mortgages on homes that will never be paid off. (2) Banks are still sitting on millions of homes in foreclosure that are being held off market, creating a hangover of dead … Continue reading
Posted in The Global Economy
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9/11+10
A decade has passed since the terror attacks on 9/11 changed our world. Amidst all the commentary on this event, I recommend a compilation of essays by the Social Science Research Council, in which several dozen scholars who wrote the … Continue reading
Rethinking the Global Economy — Look to the TIMBIs.
While we wait for President Obama’s rescue package for the US economy, it may be helpful to recall that there are places in the world where growth looks solid. There are vibrant democratic countries with large economies, young and energetic … Continue reading
Posted in Uncategorized
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