EconoMonitor

Last Days of Rome

  • How America Builds Its Way Back to Balance

    The following is an excerpt from The Reckoning: Debt, Democracy and the Future of American Power, with a forward by Dr. Nouriel Roubini, available in the United States on this week from Palgrave Macmillan and in Europe on 17 May. Moran, a former RGE vice president and geostrategy analyst, is now Director and Editor-in-Chief of […]

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  • Stop Paying the Egyptian Ransom

    It is winter again in Cairo. Amid continued civil disobedience, backsliding by the military “transitional” government and souring attitudes, people rightly took time this week to celebrate the rising that ejected Hosni Mubarak’s despotic regime a year ago. But the country is in crisis. While political activists and military men debate the direction of the […]

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  • Where’s Europe’s Madison?

    Ask any European what happened in 1789, and invariably the answer will be “the French Revolution.” Many will even be able to name the day, July 14, when the Paris mob stormed the Bastille, the hated political prison of the soon-to-be headless Louis XVI – a public holiday in France to this day. But the […]

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  • Japan’s Yen for RMB (and vice versa)

    Two indications in the news today of the diminishing influence of America on the world, both self-inflicted: a currency agreement between Japan and China, and the slipping of Iraq back toward chaos. I want to look at them both this week, but today, let’s start in the Far East. Multiple reasons lay beneath the decision by China […]

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  • Wall Street Needs a New Acronym: RICO

    What in God’s name is wrong with the SEC? The Securities and Exchange Commission—spoken of as though it has the power to destroy entire economies with a single question—continues to engage in settlement talks with banks caught red-handed defrauding investors and who know that the $285 million or so they’ll have to pay to the […]

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  • Ratings Agencies: Three Little, Three Late

    “A faulty condom is worse than no condom at all,” my sex education teacher intoned before a befuddled classroom decades ago. I’m not sure that any of us sixth graders really understood what she was saying at the time. Students today, however, have a more poignant example to draw from: The three global ratings agencies. […]

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  • Silver Linings, Golden Opportunities in US Defense Cuts

      Artist’s concept of CVN-78, a new class of aircraft carriers. Photograph by U.S. Navy. Gloom and doom from one side, glee and visions of sugar plum fairies from the other: As usual, the Pushmi-pullyu beast that is America’s political elite has it exactly wrong as it weighs the dire (or wondrous) implications of “Draconian” cuts […]

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  • SchnittsKrieg in Europa!

    Daily, at least, someone in the blogosphere or media points out the irony: having attempted twice in the last century to force its writ on its European neighbors at gunpoint, in the twenty-first century Germany has a new weapon: sovereign default. Call it Schnittskrieg: a war of cuts, deep, damaging austerity that amputates and excises and […]

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  • Europe’s Fire Sale: Begging Former Colonies for a Bailout

    Buried amid reports about unrest in Egypt and Syria, Obama’s trip to Asia and the jobs versus deficits debate in Washington was the latest evidence of a disturbing trend: a piece by the New York Times’ Adam Nossiter on Portugal begging its former colony, Angola, for a bailout. With little fanfare, Angola, once a bountiful source for […]

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  • It’s Politics, Not the Economy, That Will Sink America

    Much has been made of the depth of the economic crisis facing the United States, and it should not be underestimated. But only about 30 percent of the trouble facing the U.S. today is economic — the U.S. economy, compared with all the other developed economies, is in the best structural and demographic shape to […]

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