August 19, 2011 |
BERLIN — As investors dumped stocks Friday on both sides of the Atlantic, a growing suspicion that Europe's banks are on shaky ground offered more evidence that the struggling global economic recovery is in trouble. The increasing mistrust of Europe's banks is threatening to drag down the continent's already sluggish economy and prompting new worries for American financial firms that do business with their European counterparts. The concerns about the health of Europe's financial firms...
June 29, 2012 |
ROME—From a certain angle, the euro crisis looks to be a single crisis, one that reflects the unstable reality of a group of economies that refuse to think and act like a single economy. But in other ways it is a simultaneous outbreak of different crises in different countries, involving bank failures or a run on government debt or a bursting of a real estate bubble or runaway fiscal or trade deficits. Here in Italy, what they have is an endemic productivity crisis, one that has gone on so long and...
August 5, 2011 |
Standard & Poor's announced Friday night that it has downgraded the U.S. credit rating for the first time, dealing a symbolic blow to the world's economic superpower in what was a sharply worded critique of the American political system. Lowering the nation's rating to one notch below AAA , the credit rating company said "political brinkmanship" in the debate over the debt had made the U.S. government's ability to manage its finances "less stable, less effective and less predictable.
May 25, 2013 |
RALEIGH, N.C. — Backed by throngs of chanting supporters, dozens of liberal demonstrators are subjecting themselves to arrest each Monday at the state legislature here to protest a flurry of bills that could transform North Carolina into a model of conservative governance. The state's hard turn to the right comes less than five years after people took to the streets here to celebrate the 2008 victory of Barack Obama, the first Democratic presidential candidate to capture the state since...
December 5, 2011 |
To get a sense of how vulnerable the U.S. economy could be if the euro currency union cracks apart, start with the volume of U.S. exports to the euro zone — $153 billion in the first six months of the year. Add several hundred billion dollars in investments by U.S. banks in the euro zone and several trillion dollars' worth of other financial contracts between the two economies. As European leaders meet later this week to try to resolve their spreading debt crisis and...
July 15, 2011 |
In the American political conversation, the national debt has become something almost mythical. It has become a metaphor for all that ails the United States, a scary monster under the bed. It isn't. It's an accounting concept. The debate over deficits and debt is frequently clouded with sloppy language and sloppy thinking. Here, as something of a primer, are some basic concepts every American — and every member of Congress — should understand about the U.S. fiscal situation.