Political Economy

During the Great Depression, immigrants were often seen as a problem more than a solution because of high unemployment. Between 1929 and 1939, an estimated 500,000 Mexicans voluntarily or involuntarily emigrated from the US back to Mexico.…

As the details of the agreement struck by the key House and Senate conference on financial reform has been embraced favorably by the US equity market, that is being led by the financials, and the foreign currencies.    In the…

Hugh Hendry opines on strategy, George Soros and the euro. He believes the euro "is finished" for many of the same reasons I worry about the euro zone – namely that it acts like a deflationary gold standard for euro zone members.…

I am going to take the German side of the argument on the euro zone’s need for fiscal consolidation. It’s not that I like wearing a hair-shirt. Hardly. It’s because the Europeans have no other choice if they are to avoid higher interest…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). (Reuters) – "Secretary of State Hillary Clinton on Thursday…

There is nothing preventing the Federal Reserve from buying up any financial asset it so chooses with money it creates out of thin air. In fact, I seriously doubt that the vaunted bond market vigilantes would be able to cause US interest…

German daily Die Zeit published comments from an interview with famed US hedge fund investor George Soros who was sharply critical of German economic policy.  Soros claimed that Germany was "isolated" in its austere…

Echoing the Marc Chandler's comments yesterday, Andy Lees of UBS had some constructive things to say about the potential effect of a Chinese revaluation on Mexico. Mexican Finance Minister welcomes the move because it will help Mexico’s…

The following is the beginning of the Chancellor George Osborne's speech today before the British House of Commons on the 2010 Budget. This emergency Budget deals decisively with our country's record debts. It pays for the past. And it…

In looking back on the efficacy of stimulus in the United States, Ezra Klein has a few thoughts in the Washington Post's "You've seen the stimulus. Now, meet the anti-stimulus." A multiple choice question for you: Did the…