Tsipras Goes To Moscow The Greek Prime Minister wants us to know that he looks at Vladimir Putin as a good friend WASHINGTON – Greek Prime Minister Alexis Tsipras thought that it was a good idea to pay a visit to...
Central Banks Administer Monetary Morphine The problem is lack of growth and gigantic debt levels. And yet we only have interest rates suppression, as if this were a cure WASHINGTON – The financial and fiscal “New Normal” across the countries touched or devastated by the Great Recession of...
Mountains of Debt in Greece…And In China Debt financed growth is a terrible strategy. Greece is ruined, and China may get there soon WASHINGTON – There is nothing promising in the outcome of the “European Tour” taken by Greek Prime Minister Alexis...
Advice To Europe: Deregulate And Cut The Red Tape Steven Rattner, a centrist, writes that Europe's problem is a suffocating regulatory environment WASHINGTON – Well known Wall Street financier Steven Rattner stated the obvious about Europe’s lack of competitiveness and what to...
Syriza Victory Is Not A Solution For Greece The new government will probably gain some breathing room. But a socialist leadership will be unable to kickstart economic growth WASHINGTON – As expected, Alexis Tsipras and his Leftist Syriza party won the Greek elections for a new parliament. After...
The ECB Launched Its Own QE – But Growth Expectations Will Not Be Met Eueope needs serious pro-growth reforms. And they are not coming. The idea that even lower interest rates will trigger growth is foolish WASHINGTON – Here we go. European Central Bank (ECB) President Mario Draghi launched his own version of QE, or “Quantitative...
Fiscal Stimulus Does Not Work –Yet We Keep Applying It Stimulus funds are badly used. Capital is wasted, debt grows, and the economy does not benefit WASHINGTON – “If economic troubles are approaching, put together a big stimulus package”. This is the universally accepted prevention/remedy therapy...
Greece Once Again Threatens Europe’s Financial Stability A possible new leftist government will reopen the debt reduction deals. This possibilty exposes the Eurozone's fundamental weakness WASHINGTON – Greece is again in the news, and for bad reasons. Early elections (to be held on January...
The Economist Gives Good Advice To Europe – Anybody Listening? Sure, the EU should relax austerity measures in exchange for serious pro growth reforms in weak countries. And Europe could start large scale, productivity enhancing infrastructure projects. But none of this will happen WASHINGTON – The respected The Economist magazine dishes out good economic growth advice to Europe, (The World’s Biggest Economic Problem,...
The Greek Economy Never Recovered – Now It is Once Again In Crisis All the aid packages ($ 306 billion) fixed nothing. Sky high debt, unemployment at 26% and a collapsed stock market WASHINGTON – We were told months ago that Greece, the ultra-sick member of the Eurozone, was essentially out of...