2010

The recent sequence of reassurances from various eurozone policymakers suggests we are in the early, not latter, stages of the euro crisis. Only an Anglo-Saxon style QE will prevent dissolution of the euro. Such a radically un-German…

Highlights The US dollar is mostly lower on news that US President Obama reached an agreement to extend the Bush tax cuts for another two years, which has lifted stocks and buoyed risk appetite, despite the speculation that China may…

The tax cut deal is in. I would agree with Felix Salmon's take, that "this is tax cutting, Oprah-style: you get a tax cut! And you get a tax cut! And you! And you! You all get a tax cut!" Since Democrats and Republicans were never…

Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many…

In a speech given on November 20, 2010 at the ADA Education Fund’s Post-election Conference at Harvard's Kennedy School of Government, Professor James K. Galbraith asks for whom President Obama is really working.

This chart is in German, but most of the terms should be clear. The top half of the chart are the net payers of existing fiscal transfers within the EU, Germany being the largest, followed by Italy, France, and the Netherlands. The biggest…

We have seen how German policy experts like Otmar Issing have argued against Euro Bonds. Now, we get a cogent argument in favour of thee debt instruments via Wolfgang Munchau of Eurointelligence. Munchau recently penned an FT column making…

by Marc Chandler At the end of last week, the US and Korea appeared to reach the basis of agreement that will also resuscitate the moribund free-trade effort. In essence it appears that slowing down the liberalization in the auto sector…

The lead post here is from CW contributor John Lounsbury on the seduction of America. He wrote the original version in the Spring of 2009; yet, this piece is as relevant today as it was then – a must read. Then there is Felix Salmon's post…

Moody’s downgraded Hungary two notches to Baa3, matching the BBB- ratings by both S&P and Fitch. Our model has long put Hungary at junk status, and we note that its implied rating deteriorated further in our latest round to BB/Ba2/BB…