fiscal

The talk about Greece being kicked out of the euro zone has clearly been overdone. Some have suggested that the Germans had reached their fill and that they would 'stare the Greeks down' in this high stakes game of chicken. I have…

I have written quite a few posts highlighting the statements made by Herbert Hoover during his US presidency as he struggled with the economic contraction of the Great Depression. The general tenor of Hoover's comments and actions goes to…

I still find it hard to believe a Greek exit from the euro zone is imminent. So it's good to see someone push back on the concept that a Greek exit from the euro zone is imminent. John Dizard at the FT does just this in a piece out today…

This is not a good day for Spain. The day began with the EU Commission revising its estimates for the Spanish economy. The contraction is now expected to be considerably deeper. Spain unveiled its new efforts to address the banking…

The long-held view in German policy circles has been that the European sovereign debt crisis is a clear indication that the stability and growth pact (SGP) was not sufficiently robust in addressing fiscal discipline. The ECB is now…

The set up for having temporary tax and stimulus measures expire risks a new recession and such a downturn would be ugly, especially given the elevated level of US S&P earnings expectations and the relative P/E ratio of the US market

Mindless austerity is losing policy credibility in some Eurozone nations. This column suggests governments shouldn’t mix long-term growth and fiscal discipline nor produce another Lisbon strategy. Instead, they should adopt a framework for…

Here is the video everyone is talking about, Ron Paul and Paul Krugman debating the economy and economic policy. Enjoy.

ECB President Draghi's support for a growth pact for Europe is important, perhaps under-appreciated by the market. This is not simply a tactic to deflect attention from the IMF's call that the ECB ease monetary policy further. The ever…

As predicted earlier this year, Japan continues to struggle with its energy needs. The chart below shows the recent trend in Japan's imports of residual fuel oil. These fuel imports are quickly translating into a rising trade deficit.