Global Currency Meltdown

As the recession and resultant stimulus packages add to higher unemployment and increasing public-sector deficits, the government is seeking to boost the value of overseas earnings that are accrued by US corporations. To aid in this effort, the Fed is being...

Decoupling: Alive and Well

While the US economy continues to weaken (see my recent commentary: Don’t Doubt the Double-Dip), many foreign economies continue to experience solid — even spectacular — economic growth. When the global economic crisis began in 2008, many forecasters...

Tax Cuts Won’t Cut It

Congressional Republicans and Democrats are engaged in a heated debate over which Americans deserve not to have their taxes raised, with both claiming that some form of tax cut will stimulate the economy. The primary point of divergence is what type of cuts will be...

The "Islamophobia" Weapon

“The Muslim world is going through an unprecedented difficult and trying time,” said the Secretary General of the 56-state Organization of the Islamic Conference, Ekmeleddin Ihsanoglu, on Friday. One might reasonably have thought that he was referring to...

The Federal Reserve Mandates Inflation

Much of the content of the latest Fed statement, released on September 21, echoes the central bank’s previous post-credit crunch pronouncements: there is still too much slack in the economy, interest rates are still going to be near-zero for an “extended...

Pirates at the Helm

Pirates at the Helm Reason must rule and appetite and emotion obey (Cicero) What a fisherman sees A successful life is a well run boat. Reason is the helm; it is the vantage point from where you have vision all around and where you can reach the controls. The motor,...