WASHINGTON – Well known Wall Street financier Steven Rattner stated the obvious about Europe’s lack of competitiveness and what to do about it in a NYT op-ed (Europe’s Anti-Business Stance, January 29, 2015). Europe’s problem, he says, is not about making the right choice between “stimulus” and “austerity”.
WASHINGTON – It looks totally implausible, but China is facing the real danger of a declining population. Yes, with 1, 355 billion people, China is the most populous country on earth. But the demographic trends indicates decline. With an average of 1.55 children per woman, China is well below “replacement level”. This means that slowly […]
WASHINGTON – After decades of denials, at least the Chinese authorities now recognize that they have a huge environmental problem that in some regions and large cities has reached catastrophic proportions. 30 years of wild industrial growth, with practically zero environmental safeguards, have created a nightmare. No doubt the Chinese economy has grown, incredibly so. No […]
WASHINGTON – As expected, Alexis Tsipras and his Leftist Syriza party won the Greek elections for a new parliament. After having struck a coalition agreement with the much smaller Independent Greeks (Anel) party, Syriza has a clear majority. Tsipras is now the new Prime Minister. Voters choose Fine. Voters get to choose their leaders. What is not at […]
WASHINGTON – After the historic defeat suffered by the Democrats in the mid-term elections, President Obama has given no sign that he understands that the political climate has changed. On the contrary, he engaged almost enthusiastically in unilateral actions, (de facto amnesty to millions of illegal immigrants), while pushing a rather partisan agenda in his January 20 State of […]
WASHINGTON – There is an almost unquestioned belief that America is the land of entrepreneurs. This is “start-up” country. Anybody with a good idea, if armed with enthusiasm and persistence, is likely to get results. The assumption is that America loves young people going into business. The system helps. It is easy to get started. […]
WASHINGTON – Here we go. European Central Bank (ECB) President Mario Draghi launched his own version of QE, or “Quantitative Easing”. The goal of a rather large bond buying program (about 60 billion Euro or $ 68 billion a month) is to lower interest rates, spur more lending and energize the semi-comatose Eurozone economies, (Germany and a […]
WASHINGTON – It is an open secret that Saudi Arabia and other Gulf countries have been funding religious schools and militant religious groups in Pakistan. It is however unusual for Pakistani officials to make any specific references to this flow of money to armed groups that end up destabilizing this seriously challenged country and its […]
WASHINGTON – The China story has changed, quite a bit. Yesterday it was about relentless growth. Today it is about the slow down. In fact, it is worse. Today it is becoming the story about “what went wrong”. Today’s story is about massive industrial overcapacity, newly built cities with no people, and environmental disasters. All […]
WASHINGTON – Is The US State Department (read President Barack Obama) going to finally authorize the Canada to the US Keystone oil pipeline, to be built by TransCanada? The political signs are not at all good. And why would Obama say “no” to a pipeline that will carry additional Canadian oil to the refineries in Texas?