Bloomberg reports a starling claim from Stephen Rademaker, U.S. Assistant Secretary of State for International Security and Nonproliferation: Iran, which is defying United Nations Security Council demands to cease its nuclear program, may be capable of making a nuclear bomb within 16 days if it goes ahead with plans to install thousands of centrifuges at […]
The New Economist predicted the failure of the Berlusconi coalition: But these all take second place to Silvio Berlusconi’s central crime since his coalition came to power in May 2001: economic mismanagement. As the German economy has steadily improved its competitiveness and boosted exports in recent years, Italy has lost a lot of ground. This […]
On partisan politics: When I talk to people about the sad state of the Bush administration lately, we always ask ourselves, “Well, what can he do now?” … I have come up with (an admittedly thin) seven-point plan of action: Accept an enforcement-only immigration bill. This is a no-brainer. Bush can say, “Look, I love […]
The IMF’s economists think that the chances of a negative surprise to the world economy are bigger than the chances of a positive surprise: Storm clouds seen over markets: IMF WASHINGTON (MarketWatch) — After several years of low interest rates and ample liquidity, storm clouds are developing over global financial markets, according to a new […]
Tyler Cowen reads Seymour Hersh and writes (somewhat optimistically): The core economic issue is this: in the midst of a “chicken” game, which verbal cues should lead you to conclude that things are going well (poorly) for your side? … How about this? We make lots of noise, hoping to scare Iran. If the noise […]
Phil Kerpen & Mallory Factor attack the Sarbanes-Oxley legislation citing two sources: The staggering costs of Sarbox bear repeating. An analysis by Sarbanes-Oxley Ivy Xiying Zhang of the University of Rochester measured the total stock market impact of the law, and found that it has cost over $1 trillion, with a “T.” About a third […]
First, it was William Kristol. As Jane Hamsher notes: Many people have assumed that BushCo. hasn’t gone into smear mode because of their previous praise of Fitzgerald, to which I say balderdash. They’d frame Mother Theresa for pedophelia if it suited their purposes. It’s what they know how to do. Justin Hood catches GOP hack […]
After reading the recently released FOMC transcripts from the year 2000, Dr. Altig laments on The Woes Of Making Policy In Real Time. Dr. Altig also provides excerpts of Greg Ip’s FOMC transcript summary from the WSJ. In 2000, as the economy slowed from the booming ’90s, the Federal Reserve, for the most part, missed […]
Lou Dobbs covered the big news on April 6 by inviting Bill Schneider to comment and Mr. Schneider did well. Alas, his time was shared with Jeffrey Toobin who is too lost in legal babble to get the big picture. First, Schneider’s comments: Well, for the very reason David Ensor just gave, that the president […]
Secretary Snow testified before the House Appropriations Subcommittee on Transportation, Treasury, and Housing and Urban Development, the Judiciary on Wednesday: The economic indicators since the President signed the Jobs and Growth Act in May 2003 provide validity to this notion. Since that time, we have seen eleven straight months of positive business investment; nearly five […]