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A Brady Plan type solution to the debt crisis in Greece, Ireland, Portugal and other EU countries
11/30/2010
The extension of maturities for the debt of these countries is a key part of the solution. The Brady Plan that helped sove the Latin American debt crisis of the eighties and nineties is an example of the way out of the crisis. Resistance from bankers to taking losses of upto 30% and extending the maturities for debt. The need for Germany and other countries to set aside money that would be needed to recapitalize banks that need funds to handle these losses. Nicholas Brady when asked about this says it is important for this to be "a unified decision." This would create the confidence in the financial markets that will be needed.
Linked Articles
Europe's Central Banker Seeks Deeper Fiscal Union
Wall Street Journal 06/03/2011
Nervous Europe Trying to Halt Economic CrisisNew York Times 11/30/2010
How Apple's Steve Jobs put together the iPhone product in 2004-2007, and how Nokia missed the smartphone opportunity
09/26/2010
Linked Articles
Apple Engineer Recalls the iPhone's Birth
Wall Street Journal 03/26/2014
Nokiaâs New Chief Faces a Culture of ComplacencyNew York Times 09/26/2010
Increasing auto emisssions, coal fired plants and the extreme air pollution in Beijing and other cities in China
07/28/2010
Linked Articles
Wall Street Journal 01/16/2013
In China, Pollution Worsens Despite New EffortsNew York Times 07/28/2010
The plausible threat of deflation in 2011.
05/27/2010
Experts see deflation as a very real possibility in 2011 and beyond. This creates poor prospects for growth.
Linked Articles
New York Times 07/11/2010
The Recovery: Why Deflation Remains a ThreatBusinessWeek 05/27/2010
Voter preference for third parties creates a long term shift to coalition government in Britain.
05/13/2010
Conservative and Labor parties received only 65% of the vote in the 2010 U.K. elections.
Linked Articles
Economist 05/13/2010
Britain's accidental revolutionEconomist 05/13/2010
Clearly not a Roosevelt like approach or major change in regulatory structures says Nocera of NYT.
06/17/2009
A lot will now depend on who is in charge and creating a culture where strong regulation is an essential step for proper functioning of markets.
Linked Articles
Obama’s Remarks on Financial Regulatory Reforms
Wall Street Journal 06/17/2009
Only a Hint of Roosevelt in Financial OverhaulNew York Times 06/18/2009
The dangers of high unemployment in the American economy.
06/06/2009
WIth job losses of 467,000 in June 2009, Krugman sees a joblosses hole of 8.5 million jobs since the last recession. The 3 1/2 million jobs the stimulus is supposed to create by 2010 end fade in comparison to the scale of job loss that is emerging. With declining earnings, there is the additional prospect of deflation.
Linked Articles
New York Times 07/03/2009
Stuck at Unemployed: When A Layoff Becomes a LifestyleWashington Post 06/06/2009
The huge downsizing in the auto industry creates the need for big government supported initatives in retraining.
05/21/2009
Vicotr Brown and the 60,000 former workers at GM's BUick City have worked at GM all their lives, and can't imagine anything else. How does one get them from joining the ranks of the permanently unemployed, is a challenge for the government. THe labor underutilization rate expected to reach 20% for 2010, could threaten the economic recovery, and put everything at risk.
Linked Articles
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
The Last Holdouts Cast Their Lot With G.M.New York Times 05/21/2009
With bank lending anemic and consumers adopting afrugal lifestyle, two pillars of recovery are missing in the picture.
04/16/2009
Admirable rhetoric and clear ideas, but still falling short in key areas like foreclosure prevention and bank lending, is how the Obama economic recovery sccorecard reads in April 2009.
Linked Articles
When You're Flush, But Acting Flat Broke
Washington Post 04/16/2009
Lending By Bailout Recipients Falls AgainWashington Post 04/16/2009
Is Erdogan missing the lesson of 2009 elections- the AK Party depends on economic growth for voter support
04/04/2009
Linked Articles
A wake-up call from the voters
Economist 04/04/2009
Turkey's Economy Surged 11% in QuarterWall Street Journal 07/01/2011
Details of the Obama Stimulus package that is emerging and the need to create spending that is effective.
01/16/2009
Avoiding wasteful spending and balancing government initiative with efforts to get private investment and initiative through tax cuts and incentives to companies.
Linked Articles
Wall Street Journal 01/16/2009
Government Spending Is No Free LunchWall Street Journal 01/22/2009
Another misstep by automakers management was the failure to win public support as they missed the changes coming over the country.
11/18/2008
The falling clout of the Detroit automakers as the nation changed and things changed but the automakers dug in their heels into the status quo.
Linked Articles
Clout Has Plunged for Automakers and Union, Too
New York Times 11/18/2008
Bridge Loan to NowhereWall Street Journal 12/06/2008
Ford's Fiesta Econetic in the US market as a small car with high mileage.
09/04/2008
With the dollar moving toparity with the pound the opportunities in bringing a high mileage diesel Fiesta to the USA market.
Linked Articles
The 65 mpg Ford the U.S. Can't Have
BusinessWeek 09/04/2008
Sized for the TimesNew York Times 10/19/2008
Stiglitz and Krugman point to the dangers in the Cameron-Osborne austerity measures in Britain
10/20/2010
Jospeh Stiglitz writing in the Guardian in 2010, at the time of the first Osborne Budget, said it was a huge gamble that the private secotr would pick up enough to make up for the impact of the budget cuts. Lower growth would mean lower tax revenues and deficit reduction targets would be missed. Krugman points out that the 490,000 job losses planned through attrition under the Osborne plan is similiar to 3 million in job losses in the U.S., a huge risk for the British economy.
Linked Articles
Britain Details Radical Spending Cuts, Citing Debt
New York Times 10/20/2010
British Fashion VictimsNew York Times 10/21/2010
The electoral commission in Nigeria and the judicial system in Ghana- creating the environment for free and fair elections in Africa
08/31/2010
Linked Articles
Calm Academic Tries to Tame Nigeriaâs Electoral Chaos
New York Times 08/31/2010
Ghana Court Rejects Challenge to President's ElectionWall Street Journal 08/30/2013
Andy Grove of Intel and a reminder about Silicon Valley's role now missing role as a serious innovator and job creator at home
07/01/2010
Andy Grove reminded Silicon Valley about the dangers of forgetting manufacturing's important role in the U.S. in 2010. This is even more true today with the working class lagging behind in this recovery. He asked at the time what kind of society are we creating with professionally employed workers and lots of unemployed. It reminded him of 1932 with troops holding bayonets facing unemployed people outside the White House, and of his days in Hungary in the 1956 uprising. Grove also called for serious innovation which he did not see happening at the time in Silicon Valley.
Linked Articles
Andy Grove’s Warning to Silicon Valley
New York Times 03/25/2016
Andy Grove: How America Can Create JobsBusinessWeek 07/01/2010
Pressure tests that should raise alarms were ignored by BP before the oil leak.
05/13/2010
BP and Transocean ignored the results of tests that showed something was wrong and a gaseous mixture was entering the well. This was hours before the explosion that destroyed the oil rig and created a massive oil leak in the Gulf of Mexico.
Linked Articles
Red Flags Were Ignored Aboard Doomed Rig
Wall Street Journal 05/13/2010
BP's Hayward Says Company Could Have Done More Disaster PreparationWall Street Journal 05/13/2010
Germany's rescue plan for Greece.
05/03/2010
Germany finally cleared a plan to aid Greece after weeks of delay that created tension in global financial markets with Greece being shut out of capital markets.
Linked Articles
Germany Clears Rescue for Greece
New York Times 05/03/2010
The Greek Economy ExplainedWall Street Journal 05/07/2010
Peter Coy, Economics editor of Business Week, on the risks of inflation.
06/11/2009
Krugman responded to Laffer's oped in WSJ with an op-ed of his own in the NYT suggesting that Bernanke's Fed should stay the course. In this article Peter Coy, aveteran reporter and analyst of BW, looks at the situation and the facts. Demand is so weak in the economy, that the Fed's expansion of the money supply only helps make up for this and still falls short. The economy will be fragile for some time to come so reversing course is simply dangerous. In the video that goes with this he tells Mandel that Bernanke is right and should stay the course.
Linked Articles
Get Ready for Inflation and Higher Interest Rates
Wall Street Journal 06/11/2009
Why the Fed Isn't Igniting InflationBusinessWeek 06/18/2009
Obama's Cairo speech on June 4, 2009 to the Muslim world coincides with Moussavi taking on Ahmadinejad for his extremism in Teheran in an election debate.
06/04/2009
Moussavi debated forcefully with Ahmadinejad on Iranian television calling for good sense in relations with the rest of the world and calling Ahmadinnejad an extremist. He called Ahmadinejad's denial of the Holocaust as undermining Iran's dignity, while Obama called it baseless, ignorant and hateful. Something that could only occur in the climate created by Obama's opening of a dialogue with the Muslim world and helping melt old attitudes and perceptions.
Linked Articles
President Obama's Cairo Appeal
Washington Post 06/05/2009
Iran President and Challenger Clash in DebateNew York Times 06/04/2009
The rapid structural shift in employment to new industries and fields may create high unemployment even as millions of vacancies go unfilled.
04/30/2009
The Labor Departments JOLT statistics for job openings shows over 3 million job vacancies. The reason for this is the mismatch in qualifications and the speed with which industries are downsizing, and the shift to new industries and fields away from banking, retail, construction and autos. This makes new initiatives in retraining and government cost sharing to enable companies to hire and retrain super critical. Germany has some initiatives lkke this.
Linked Articles
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
Help Wanted: Why That Sign's BadBusinessWeek 04/30/2009
The head of Allstate on the need for effective financial regulation.
04/16/2009
Effective regulation and the effect of lobbying in creating areas of unregulated exposures.
Linked Articles
New York Times 04/16/2009
Danger in Wall Street’s ShadowsNew York Times 05/15/2009
The Rosenfeld-Krugman solution for clean banks and new lending in the economy.
03/23/2009
Krugman and Rosenfeld, in no uncertain terms, say the only solution is for government to seize insolvent banks and create clean banks, using its existing authority and government money. Rosenfeld outlines his solution which puts banks back in private hands quickly or at the earliest possible moment.
Linked Articles
New York Times 04/06/2009
Financial Policy DespairNew York Times 03/23/2009
Uptick Rule and the Bear Raids by Short Sellers on Morgan Stanley and Citigroup.
11/18/2008
Bear Raids on Morgan Stanley and then in late November on Citigroup. How the Uptick Rule should have been reinstated and the psychological crisis created by huge shortselling and the spreading of false rumors for quick profits. The dangers of this to the US and the global economy and the mystery why no action has been taken so far.
Linked Articles
Anatomy of the Morgan Stanley Panic
Wall Street Journal 11/24/2008
There's a Better Way to Prevent 'Bear Raids'Wall Street Journal 11/18/2008
Nobel Prize winer Vernon Smith likes the direct injection of capital into undercapitalized banks.
10/09/2008
Vernon Smith thinks Treasury has little experience with reverse auctions and they will be awfully hard to do. Direct injection of capital into banks is something Treasury has experience and has done recently in some bank failures such as WaMu takeover by Chase organized by FDIC and Treasury. The British rescue plan of Gordon Brown is to provide capital to the banks in return for equity stakes.
Linked Articles
Britain Takes a Different Route to Rescue Its Banks
New York Times 10/09/2008
There's No Easy Way Out of the BubbleWall Street Journal 10/09/2008
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