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Linked Articles
U.S. Producers Ready New Oil Wave
Wall Street Journal 03/14/2015
Exxon Mobil: Shale to the ChiefWall Street Journal 03/06/2015
Linked Articles
Russian Oil: Output Grows as Prospects Shrink
Wall Street Journal 01/25/2016
Ruble’s Fall Tests Governor of Russia’s Central BankNew York Times 02/09/2015
Linked Articles
Wall Street Journal 01/29/2015
Russia Lifts Crisis Cost EstimateWall Street Journal 01/29/2015
Linked Articles
The new economics of oil: Sheikhs v shale
Economist 01/13/2015
Exxon Mobil: Shale to the ChiefWall Street Journal 03/06/2015
A major miscalculation was totally misjudging Merkel and post-war German public opinion about policies that remind people about the period between the two World Wars- this is anathema to Germans who see the European Union as a way to build a new and different Europe. The other miscalculation was on how a foreign adventurous policy in Syria would affect Sunni world opinion, in particular Saudi Arabia. Just as Brezhnev took Russia into Afghanistan where Russia had no vital interest leading to eventual Soviet collapse, Putin risked alienating a key member in OPEC pricing moves and hurting Russia's economic interest. By not listening to Kudrin, the head of Sberbank, and other economic advisers from the first and second terms of the Putin-Medvedev administrations, Putin opened the door to two years of serious missteps, risking the very real accomplishments of the first and second term of creating a stable growing Russian economy with close economic ties to Europe. The only positive outcome of the crisis and low oil prices would be making the shift away from oil dependence, which was talked about but never seriously attempted in the Putin administrations. For this to happen major new investments would have to be made and technology links to the outside strengthened, both hammered by the missteps in 2013-2014. The irony of all this is that Putin gained the support of rural Russians in the countryside in the 2012 presidential elections by promising no return to the economic crisis conditions following earlier ruble collapses. Now by ignoring Kudrin and other wiser counsel from the first and second administrations he does just that.
Linked Articles
Putin’s Year of Defiance and Miscalculation
Wall Street Journal 12/18/2014
Russian President Vladimir Putin Seeks to Reassure on EconomyWall Street Journal 12/18/2014
Linked Articles
Venezuela Mulls Subsidies Cuts
Wall Street Journal 01/23/2015
An Ailing Venezuela Trims Oil DiplomacyWall Street Journal 12/06/2014
Linked Articles
Saudi Arabia Sees Oil Prices Stabilizing Around $60 a Barrel
Wall Street Journal 12/04/2014
Free Fall in Oil Price Underscores Shift Away From OPECNew York Times 11/28/2014
Linked Articles
Saudi Price Cut Upends Oil Market
Wall Street Journal 11/04/2014
Refining Saudi Arabia’s Oil StrategyWall Street Journal 11/03/2014
Linked Articles
The new economics of oil: Sheikhs v shale
Economist 01/13/2015
The Oil Price Swoon Won’t Stop the Shale BoomWall Street Journal 10/23/2014
The central bank head, Nabiullina, the Economy minister, Ulyukayev, and the head of Russia's largest bank Sberbank, German Gref, all expressed skepticism about president Putin's confidence in economic policy at a banking conference in Moscow in Oct. 2014. The architect of Russia's finances in the first and second terms of Putin, Alexei Kudrin, expressed alarm in Nov.-Dec. 2014 about lack of confidence in economic measures as the ruble took a hit from lower oil prices. The Putin administration made errors in handling economic policy leading to the ruble going to the brink of collapse by Dec. 17, 2014. This was preceded by miscalculations in policy towards the European Union and Germany leading to a loss of international confidence, and deteriorating relations with OPEC's leading member Saudi Arabia leading to OPEC's production decisions hurting Russia.
Linked Articles
Russia Introduces Measures to Calm Economic Jitters
New York Times 12/17/2014
Putin Trumpets Economic Strength, but Advisers Seem Less CertainNew York Times 10/02/2014
Linked Articles
Pain Spreads From China’s Excess Production
Wall Street Journal 07/16/2014
In China, Beijing Fights Losing Battle to Rein In Factory ProductionWall Street Journal 07/16/2014
Linked Articles
Tata Consultancy Services CEO Welcomes Narendra Modi Election
Wall Street Journal 05/19/2014
Business Executives in India Ready to Welcome Modi AdministrationWall Street Journal 05/17/2014
Lagarde and Lipsky point out that this does not change the U.S. voting rights of 16%. They emphasize the stabilizing role the IMF has played for the global economy in crises and the more open thinking at the IMF on economic programs.
Linked Articles
The U.S. Should Ratify Its Agreement to IMF Reform
Wall Street Journal 04/02/2014
Congress Can Help the U.S. By Reforming The IMFWall Street Journal 03/25/2014
Major concessions were won by Greece on the most important issues of the surplus, and the size of the public sector with high unemployment. Compromise was being reached on the value added taxes and age for getting pensions, next down the list. Next on the list were pension cuts which undoubtedly would hurt pensioners but in the larger picture of the economy would come after the size of the surplus and dateline, and the size of public sector. The size of these cuts is small compared to the cost of 60 billion euros from the damage done to the economy, and the alternatives for pensioners and the rest of the country. under bank closure. For the EU this was seen as part of pension reforms and for left leaning Syriza compromising on behalf of pensioners.
Linked Articles
IMF Raises Referendum Stakes With Call for More Aid for Greece and Debt Relief
Wall Street Journal 07/03/2015
What Greece WonNew York Times 02/27/2015
Exceptional performance by an exceptional economy minister and banker. Elvira Nabiullina's humility, drive and policies help shape Russia's careful management of the collapse in oil prices.
Linked Articles
Economist 04/19/2016
Ruble’s Fall Tests Governor of Russia’s Central BankNew York Times 02/09/2015
Linked Articles
India’s Inflation Fight Pays Early Dividend
Wall Street Journal 01/16/2015
Suddenly, India Cuts Interest RatesNew York Times 01/14/2015
A wariness with foreign powers in China stems from the influences left behind from the British commercial interests and the Japanese invasion of China. Compared to that period, the period of collaboration on an equal footing and playing field is is a short and recent one that has taken place for just three decades 1985-2015. Fears that the accelerated development in China could slow down without a strong central government, combine with the awareness of the need for western technology and open communications in today's global economy to accelerate the development, create in the Chinese mind a problem that needs to be tackled carefully to continue progress. Awareness of the huge inequalities and corruption in the rush towards modernization, need to tackle extensive contamination of air and water, and need for social security and healthcare for an aging population create a new urgency for careful policy making to sustain progress.
Linked Articles
Wall Street Journal 01/12/2015
‘China 1945,’ by Richard BernsteinNew York Times 01/09/2015
Linked Articles
Wall Street Journal 03/25/2015
Fall in Oil Prices Threatens Africa’s Economic GrowthWall Street Journal 12/12/2014
Linked Articles
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
Nigeria’s Tumbling Currency a Victim of Falling Oil PricesWall Street Journal 12/03/2014
Linked Articles
Economist 11/06/2014
Oil Slips as Saudi, Libyan Production Worries EaseWall Street Journal 11/06/2014
Linked Articles
The new economics of oil: Sheikhs v shale
Economist 01/13/2015
The Oil Price Swoon Won’t Stop the Shale BoomWall Street Journal 10/23/2014
For countries like Germany in the eurozone with what Draghi calls "fiscal space" but did not use it, the drop in oil prices from $100 to $65 in 2014 offers relief at the right time to get back to growth in 2015.
Linked Articles
Falling Oil Prices Spur New Bets on Global Economic Growth
Wall Street Journal 12/08/2014
Merkel Hints at Economic Policy Shift in GermanyNew York Times 10/09/2014
Linked Articles
As Cereal Slips, a New Battle Over Breakfast Dollars
Wall Street Journal 07/22/2014
U.S. Orange-Juice Sales Fall to Record LowWall Street Journal 07/22/2014
Linked Articles
Hope Fades in Brazil for a World Cup Economic Boost
Wall Street Journal 05/28/2014
Brazil Is Tired of Being ScoldedNew York Times 05/26/2014
By March 2014 about 6 years after the 2008 financial crisis 7.4 million workers could not find full time work.
Linked Articles
It's Still Bad for the Long Term Unemployed
New York Times 04/04/2014
The Decline of WorkWall Street Journal 04/05/2014
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