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…
The Dark Cloud over Europe’s Nascent Recovery
Europe seems to be right on time—for once. The comforting consensus a year ago was that the crisis gripping the European Union since 2009 would begin to fade in the third quarter of this year. And here we are: •…
The Global Economy Takes a Baby Step Forward
It’s starting to look like that longed-for moment many of us thought would never arrive. Economies around the world have just clocked in with some good news. How shall we read it? It is too soon to declare we have…
Has Britain Recovered or Simply Faked a Recovery?
Two recession strategies are competing ever more openly in Europe—two growth models and two economic philosophies that Americans should watch carefully. Just as the choice ahead could change the map of the European Union so could the election on November…
How the Debt Crisis Could Remake Europe
Maybe now we will all understand why the ancient adage “May you live in interesting times” was intended not as a blessing but as a curse. Last week wasmore than interesting in Europe: It was of historical importance—and bone-rattling in…
Japan’s Crippled Economy: Signs of a Snap-Back
Not quite two months after the earthquake-tsunami-nuclear disaster entered the record books as Japan’s worst tragedy since World War II, the economic picture is becoming clearer. It’s a bigger-than-expected blow for corporations, suppliers, consumers, taxpayers, and many others. In fact,…
Housing Market Still Needs Government Support
There is no immediate action on Fannie Mae and Freddie Mac in the offing, but the knives in Washington are clearly out for the two mortgage behemoths, whose failings and excesses helped foster the housing crisis. In fact, there are…
U.S. Budget Crisis: Lessons from the Brits
The government shutdown may have been averted, but the fiscal dispute confronting Washington is about to get even louder. Congress once again has to agree to raise the debt limit or default on our obligations which could have “catastrophic” consequences for…
Japan’s Economy Will Recover Quickly and Grow Fast
While we continue to grieve for the victims of the Japanese earthquake and its aftermath, it is perhaps time to cast a colder eye on the consequences of the country’s worst disaster since the atomic attacks of 1945. What is…
U.S. Productivity Gets a Frightening Wake-up Call
Did you read that item in the paper last week? An air-traffic controller apparently fell asleep at Reagan International Airport in Washington, leaving two planes to land without ground guidance. The controller, now suspended while the incident is investigated, was on…
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