A too-strong currency is, in theory, supposed to make it harder to sell things to cheap-currency countries, thus crimping corporate profits and by implication pretty much everything else. The US dollar has been rising against the rest of the world for over a year, so let’s see how we’re doing. From today’s Wall Street Journal: […]


NATO Member Turkey Shoots Down Russian Fighter Jet; Putin Vows Revenge

This is the kind of thing that happens when you put ten different armies, taking orders from at least ten different commanders, in the same theater. Last night a Russian fighter was flying in and out of Turkish airspace and Turkey shot it down. Then local rebels (Syrian Turks) shot the pilots as they parachuted […]

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Welcome To The Third World, Part 16: The Best Jobs Are Now In Government

Years (actually decades) ago I lived in a New York University grad student dorm that housed mostly elite kids from other countries. Sons of African finance ministers, daughters of European bankers, that kind of thing. And the developing-world students all told the same story: Back home, people who wanted to get rich went into government […]

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Are Superbugs A Bigger Threat To The Global Economy Than Terrorism?

Between that Russian plane being taken down by a soda can bomb and the recent Paris attacks, travel is losing some of its appeal. Last night, for instance, I was at a party talking to a friend who’s retiring soon. When asked about his plans, he said he’d love to visit Italy, where he has […]

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The End Of The Recovery, In One Chart

One of the questions on analysts’ minds lately is whether stock prices can keep moving up when corporate sales and profits are falling. But the same can be asked about the overall economy. Why would companies hire more people if they’re selling less stuff? The answer is that they probably won’t. As the chart below […]

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