"We are back in a danger zone," says a top economist at the International Monetary Fund. Though an understatement, it captures the central paradox of this year's annual meeting of the International monetary Fund and World Bank. Everyone is alarmed at the swift deterioration of ...
Europe's banking crisis — and "crisis" is used advisedly — tells us how much and how little has changed since the onset of global financial turmoil in September 2008. Then, people worried about the viability of major American banks, loaded with "toxic" mortgage-backed securities ...
We need a refresher course in Job Creation 101 to judge how much, if at all, U.S. President Barack Obama's proposed $447 billion program of spending increases and tax cuts might revive America's sputtering job machine. Recall that the private sector is the main employment ...
When it comes to energy, America is lucky to be next to Canada, whose proven oil reserves are estimated by Oil and Gas Journal at 175 billion barrels. This ranks just behind Saudi Arabia (260 billion) and Venezuela (211 billion) and ahead of Iran (137 ...
If you want to know something about America, there are few better places to start than the "Statistical Abstract of the United States." Published annually by the Census Bureau, the Stat Abstract assembles about 1,400 tables describing our national condition. What share of children ...
It's true: Deficit reduction isn't an economic panacea. It won't instantly boost the economy or the stock market. It won't automatically end financial turmoil. But none of this means that we should ignore deficits. Allowing the government's debt to spiral upward tempts a full-blown ...
With so much financial turmoil, it's important to grasp what last week's budget deal does and doesn't do. Note, for starters, that it won't create much "fiscal drag" on the economy. The spending cuts are simply too small in a $15 trillion annual economy. ...
