2011

Dollar pares recent gains as EZ struggles to control crisis; Global stocks boosted by Asian data reports. North American session likely to be dominated by Bernanke; further easing unlikely but still possible. Chinese economic narrative…

Regardless of the source of inflation, it is a serious concern for Chinese officials. Chinese history shows that periods of high inflation are associated with social, economic, and political unrest - all things that the central planners in…

The ECB does have the power to end this. They are not doing so for ideological reasons. Let me suggest two scenarios.

The contagion to Italy is a turning point in the euro zone crisis. I feel we have reached a point where the wrong decisions could mean disaster. However, I continue to hope that the Europeans will recognize how destructive the current…

"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue, because there may simply not be the money". Video of President Obama with Scott Pelley below.

I do not take the position that other writers on this blog do that Social Security and Medicare must be protected at all costs. In fact, as you can see above, I outlined very clearly two years ago what is happening politically right now.…

Michael Hudson argues that President Obama says one thing, and he does the opposite. Here’s basically the charade that’s happening when he’s trying to be reasonable. In order for him to move way to the right and to continue the Bush…

Yesterday, Sheila Bair wrote an unusual Op-Ed in the Washington Post in that it was penned just after departing a high-ranking government position and it was also highly critical of the government’s policy responses. The obvious conclusion…

And the police are not interested in prosecuting. Video below.

Clearly, the Europeans’ dithering has had catastrophic consequences. The extend and pretend strategy has not prevented contagion from infecting the core. So we need to see a response here. In the shorter-term, the Europeans are likely to…