Monetary Easing’s the Game, but It Can’t Fix Economies By Itself
It’s all forces to the deflation front now, except when the troops are fighting inflation. Either way, monetary policy is now the confirmed fashion as all three of the leading economies—Europe, Japan, and the U.S.—simultaneously put their faith in money…
Europe Faces Anti-Austerity Mutiny as Crisis Looms
The running theme at the meeting of European Union leaders in Milan last week was, “The toolbox is empty. Nobody knows what to do next to get Europe’s economies out of the ditch.” News reports from Milan correspondents told a…
Europe’s New Recession Is One Just One of the West’s Problems
After the mini-avalanche in the markets last week, it would be comforting to conclude they are oversold and investors will soon come to their senses. Could be. But behind the clear indications of slower growth in Europe, Asia, and elsewhere,…
The Eurozone’s So-Called Recovery Is a Bust
It’s almost a year since the eurozone was supposed to enter recovery mode. But you can’t eat statistics, as people in the southern-rim crisis nations have learned. Even now, the laser-thin growth numbers sustaining the “austerity works” argument are evaporating….
Obama’s Road to Unintended Consequences in Ukraine
Is the ever-tougher economic squeeze of Russia for its not-quite-clear role in the Ukraine crisis a 21st century rerun of the Treaty of Versailles, the recklessly punitive settlement that turned out to be the mulch of the global conflagration that defined…
Japan and China Vie for 21st Century Dominance
A specter haunts the great powers of East Asia. It is the specter of ethnic chauvinism and a recrudescent nationalism one would have thought a thing of the past. With this comes the possibility of irrational conflict, and for the…
Next on China’s ‘My Way’ List: Hong Kong
Push is rapidly coming to shove between China and Hong Kong, which bills itself as the “World City.” If the world doesn’t sit up and take notice soon, the political future of the autonomous territory could be imperiled and things…
The Fight to Win the Confidence of the Continent
Elections to the European parliament ended Sunday with far less commotion than those held in Ukraine the same day. In Ukraine, the polls were no more than politics as war by other means, while the EU just registered a seismometer’s…
The Sanctions Against Russia Are a Dangerous Game
Crunch time in Ukraine approaches. This is not simply because the country’s east and south are “essentially at war,” as Vasyl Krutov, the general who leads what the provisional government in Kiev insists is its “anti-terror” operation,acknowledged on Sunday. The…
Europe’s Sluggish Recovery: A Delusion of Growth
The spring meeting of the International Monetary Fund and the World Bank, which concluded Sunday, was all about our nascent global recovery. “We are at the point where the economy has turned the corner or is turning the corner of…
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