Reblogged from Financial Post | Business:
JERUSALEM, ISRAEL--Last week, Harvard professor Niall Ferguson argued that volatility induced by the Greek elections could cause a "Lehman moment" in Europe, a wave of bank runs that could lead to either the collapse or resurrection of the European Monetary Union.
While the events of this weekend do not seem to have caused this to happen, Feruguson still believes that the climax of pressures on Europe is yet to come.
Reblogged from Financial Post | Business:
India's GDP slowed to 5.3 percent in the January to March quarter. Since then S&P has warned that the country could lose its investment grade, and Fitch revised India's outlook to 'negative'.
Sentiment has turned against India not just on a slew of weak economic data, but also the country's political unwillingness to implement reforms, and on allegations of corruption.
The World Bank is not alone in making growth projections for the global growth situation. News out now maintains a stance of global growth in 2012, but not in Europe as the old continent is set to be in the red this year. Two key warnings are simply to prepare for more volatility in the years ahead and a warning that developing nations need to reduce their vulnerabilities.
One reason the United States remained active in the politics and war in Southeast Asia in the 1960s was the so-called domino theory: if one nation in the region fell to communism, it was only a matter of time until its neighbors would too. The same can be said, perhaps, about some of the impetus behind U.S. involvement and troop presence in the Middle East.
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A more substantive CBO post here and the actual research paper is here (pdf).
Infographic by Congressional Budget Office.
[via The Huffington Post]
Harvard Dean David Ellwood moderates a discussion with a distinguished panel on the economic policies that inform the Occupy movement. They debate the causes of growing economic inequality, why we should care and what we might do concretely about it. The power of the American dream, family structures and education are discussed at length.
Pennies should be abolished because they are, in essence, economically inefficient.
A new series on debt to help everyone understand the state of the U.S economy.
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