Sub-Saharan Africa didn’t suffer as much in the 2008 global financial crisis as the rest of the world, since it lacked both large banks and sophisticated financial infrastructure, and its levels of consumer and government debt were relatively low.
Pop That Oil Bubble
The oil market has been in a bubble stage for a decade.
Several recent elections in Europe were seen as a referendum on fiscal austerity (and fiscal discipline) and their results were presented as a mood shift in favor of more government spending and economic stimulus.
Too Much Cash
If, as some analysts suggest, holding such huge cash reserves has become necessary for companies to protect themselves, then the economy has become unbalanced and dangerously volatile.
Despite unprecedented creation of money over the past three and a half years, consumer prices remain moderate.
When the financial system faces a major bankruptcy, one that is large enough to threaten its health, it often makes sense to buy time. Regulators, central bankers, multilateral lenders and governments.
The Oil Problem
The year 2012 became the second in a row to start with a run-up in oil prices.
Tax Hike Needed
We’re conditioned to regard taxation as bad for the economy.
Europe’s Storm, and Ours
Contrary to the widespread view that the European debt crisis is acting as a drag on the U.S. economic recovery, it actually has been beneficial for the United States. The euro-zone debt crisis has given Washington a respite by boosting the safe-haven premium of Treasury bonds and reducing the debt-service...
In the third quarter, an unusual situation arose in U.S. financial markets: dividend yield on stocks surpassed the interest rate on the 10-year Treasury bond. While some technical analysts saw this as a strong “buy” signal, and the market did subsequently rally, the real explanation is probably far less favorable...