Revealed: Rising Inequality Kills American Jobs

Revealed: Rising Inequality Kills American Jobs Barry Z. Cynamon and Steven M. Fazzari, researchers on consumer behavior and how it effects the economy, wrote an op-ed for the St. Louis Post Dispatch in October 2007 in which they predicted that an end to the relentless trend of rising household debt and a subsequent crash in…

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No Leadership To Save A Global Debt Epidemic

      BEIJING – I had dinner with a few senior European financiers and professors in Beijing last week. When we talked about the euro crisis looming over Europe, we couldn’t but agree unanimously: across today’s small globe, all the major countries on the planet simply lack a strong leader. This is the very…

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The Greek debt crisis simplified and updated and cut to the bone

Greece’s government must cut spending and improve tax revenue in order to greatly reduce or eliminate its need to borrow, reduce the cost of its output (via domestic deflation or leaving the Euro and depreciating a new currency) in order to restore the external balance between its imports and exports, and to reduce the impediments to economic efficiency and productivity growth so that its economy can grow more rapidly. How did it get in such a mess? What role was and is played by its use of the Euro? And what are its options?

France pledges $450m to Haiti

News Americas France pledges $450m to Haiti Sarkozy is the first French president to visit the former French slave colony [Reuters] Nicolas Sarkozy, the French president, has pledged an aid and debt relief package amounting to about $450m to earthquake-ravaged Haiti. The amount includes a cancellation of Haiti’s debt to France of $77m, Sarkozy said during a…