Monthly Archives: April 2012

Do the Double-Dip: List of European Countries now in Recession (Again)

The following countries have just had two quarters of negative GDP growth in 4Q 2011 and 1Q 2012, for their second round of recession since 2007: United Kingdom, Spain, Greece, Italy, Ireland, Portugal, Belgium, the Netherlands, Cyprus, Slovenia, Denmark, the … Continue reading

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And just to underline the point (Please get the message!)

Yesterday’s post noted that Europe’s slide was not causing leaders to back away from austerity policies — even as they pushed Europe’s weaker states further into depression.  Here are some bits from yesterday’s data (all from the Financial Times) Ireland … Continue reading

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What will it take for those in denial to accept reality — growth is gone unless radical steps are taken

I have often commented on the remarkable optimism of markets given even a glimmer of hope — only at market bottoms does pessimism take over.  At tops, optimism seems unquenchable; that suggests we are at or near a top this … Continue reading

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Another one Bites the Dust (European government, that is)

The Dutch government collapsed today, after the far-right wing party withdrew its support over the government’s planned austerity measures.  This event foreshadows likely changes in France as well, where the far right did unexpectedly well (indeed better than ever), and … Continue reading

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Turkey Forges Ahead (but don’t forget human rights and freedoms)

I had the good fortune to attend a breakfast meeting with the Turkish Finance Minister, Mehmet Simsek, today.  He is remarkable, and a good example of elites in today’s Turkey.  He is young (44), well educated (M. Phil in Econmics … Continue reading

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Revolution watch in the Middle East

In Tunisia, progress toward democracy is taking place remarkably uneventfully.  The Islamist Party, Ennahda, won the elections, but the secular CPR party also did well, and the government has said it will not impost strict Islamic law on the country.  … Continue reading

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The World Economy on Tax Day (and a glimpse into the future?)

US citizens pay their annual income taxes on April 15.   About the only good news is that tax rates remain low — both the payroll tax that supports social security (pensions) and the federal income tax were extended at lower … Continue reading

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