Europe Bails Out Its Failed States with “Common” (i.e., German) Bonds
The “European Project” was designed with something like the current crisis in mind. The adoption of a common currency was just the first, politically easiest,
The “European Project” was designed with something like the current crisis in mind. The adoption of a common currency was just the first, politically easiest,
So the U.S. puts Republicans (the party of small government) in charge, and gets… trillion dollar deficits as far as the eye can see AND
The past few years have seen more than the usual amount of political upheaval. But, interestingly, most regime changes have resulted in pretty much the
After a long, initially-successful run promoting European integration and mass immigration, German Chancellor Angela Merkel saw the bottom fall out of her political fortunes this
When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of
Emerging market chaos is now front page news. Let’s start with Argentina, where the peso has resumed its plunge: In response: Argentina Central Bank hikes
Seems like every few days a new developing country discovers that it can’t pay back the dollars and/or euros it borrowed back when “external foreign
Europe is frequently held up as an example of how the rest of the world should behave on a variety of issues. But this comparison
Ah, Italy. My people; fun to be around, a nightmare to govern. And now an existential threat to the European Union, the euro currency, and
Inflation is back, thanks to the past few years’ exuberant borrowing and currency creation. Meanwhile, populist politicians are gaining traction in Europe, threatening both the
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more
You read that right. Not only is Italy selling 50-year bonds, but people are lining up buy them. Italy’s first 50-year bond sale had huge
Two short months ago it was generally expected that US interest rates would rise for the balance of the year — a move made possible
The dollar is tanking lately. From a high of around 100 in December, the dollar index — which measures USD against a basket of foreign
Europe is the birthplace of Western civilization and the source of most of the trends and bodies of knowledge that define modernity. The average European
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