This past week, Russian president Vladimir Putin visited communist Cuba on a diplomatic visit to that tropical paradise, that CNN commentators love to gush about, Cuba. [Now if only CNN would only move there permanently!]Many have questioned the purpose of the trip,...
Stefan Spath
The Relation Between Political Freedom and Economic Prosperity
The seventh edition of the Heritage Foundation and The Wall Street Journal's Index of Economic Freedom was released this month and has confirmed, once again, that a positive relationship exists between economic freedom and living standards. The index, which is...
When Financial Statement Analysis Becomes More of an Art than a Science
Part of a global equity analyst's job is to deconstruct the financial statements of companies from around the world. This can be a harrowing task, especially when one considers the multitude of differing accounting standards practiced in countries outside the U.S....
Putting the Cart Before The Horse, Russian Style
Back in the late 1980s, nations of the west were delighted and pleased when Gorbachev introduced the political policies of Glasnost and Perastroika. Mild political reforms in a moribund communist behemoth were the antecedents to the eventual collapse of the Soviet...
The Crisis of Anti-Capitalist George Soros
I've just recently finished George Soros' new book, Open Society : The Crisis of Global Capitalism Reconsidered. In this 245-page mini-treatise, the renowned currency speculator and billionaire "guru" calls for more government regulation and bureaucratic management as...
“Federal Budget Surplus” Equals a Sign to Cut Taxes
The big news this campaign season has been the debate between the candidates over what to do with the Federal budget surplus. Depending on how you massage the numbers, the surplus of tax revenues over government expenditures is forecast to be in the trillions of...
Calls for a “New Financial Architecture” are Redundant
In responding to a crisis, most of us feel more comfortable employing some sort of action rather than inaction. Their is a call to "Do Something" -- even when nothing needs to be done. That is why politicians and sundry financial gurus from around the world have been...
Why “Debt Forgiveness” is a Bad Idea: Punishing Producers and Rewarding Moochers and Looters
Among some government officials and certain members of the financial press, the idea of debt forgiveness is in vogue. Many specious arguments have been made by an assortment of different groups who believe debt forgiveness is the financial panacea that will begin an...
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