“Berlin is the key to Germany. Germany is the key to Europe.” --Joseph Stalin Nearly two decades since its demise, the Berlin Wall has largely faded from our thoughts. But Frederick Taylor's latest book revives [...]
Battle of Stalingrad 08/21/1942—2/02/1943 Overview The Battle of Stalingrad is considered by many historians to been the turning point in World War II in Europe. In essence, the battle bled the German army dry in [...]
"Soldiers, Sailors and Airmen of the Allied Expeditionary Force! You are about to embark upon the Great Crusade…. The eyes of the world are upon you. The hopes and prayers of liberty-loving people everywhere march [...]
The extraction in the U.S. of oil and natural gas from shale rock remains controversial. On the one hand, the benefits from this domestic power source are so great that they have changed the [...]
I spent two years in Ann Arbor, Michigan at the height of the American automobile industry (1966-1968). Many of my colleagues took positions with automobile related companies. If Detroit would have enjoyed the weather [...]
World stock markets have dropped 5 percent to 10 percent following the G-20 meeting that ended Nov. 16. Investors lack confidence that governments can halt the slumping world economy or unfreeze credit markets. For [...]
This past week, executives from the Big Three automakers -- General Motors, Ford and Chrysler -- pitched key congressional leaders for an increase in bailout funds to $50 billion. Mounting legislative opposition, especially from [...]
Those were the days, my friend. We thought they'd never end. Alas, the good times ended! It is hard to believe that just 12 months ago, the world seemed so rosy. We explicitly believed [...]
In this week’s Barron’s, Jack Willoughby interviewed Anna Schwartz, one of the most respected economists of our time. Ms. Scwartz felt that the bailout plan was too opaque and ad hoc to work. Ms. [...]
Just over 100 years after the Panic of 1907, we should remember the legacy of John Pierpont "J.P." Morgan, the most influential financier and commercial banker in American history. His high standings will always retain [...]
Several weeks ago, I was fortunate enough to attend an 80th birthday commemoration for Elie Wiesel at the 92nd Y. In hindsight, I wish over the years I had attended more of his lectures because [...]
Congress has passed the bailout. Treasury Secretary Henry Paulson's Hail Mary pass sought to break the financial gridlock that stopped lending and restore confidence in our financial institutions. Paulson argued that the $700 billion [...]
IntroductionMartin Feldstein, the former Chairman of Council of Economic Advisors under Ronald Reagan, proposed a better solution to the housing than the current economic recovery proposal that will be considered by the House of Representatives [...]
The stunning defeat in the House of Representatives of the Emergency Economic Stabilization Act of 2008 reflects deep-seated dislike for Wall Street that has roots back to the founding of our country. Most Americans [...]
This past week witnessed almost a complete meltdown of the global financial system after derivatives knocked down Lehman Brothers and AIG. Worldwide losses from speculative excesses could exceed $1 trillion, and the word "derivative" [...]
Earl Devaney, inspector general of the Interior Department, reported last week that a two-year investigation has uncovered a "culture of substance abuse and promiscuity" within the department's Mineral Management Services, or MMS. This department, [...]
By Jon Hilsenrath, David Enrich and Deborah Solomon A year into a credit crisis that started with troubled mortgages to sketchy borrowers, the financial system is reeling once again, casting a pall over a [...]
During the next 12 months, very large companies from such divergent industries as investment and commercial banking, automobile and airlines will seek significant help from the federal government to avert bankruptcy. Their executives argue that [...]
As Fannie Mae and Freddie Mac totter toward a government bailout, we might recall that they may have been "conceived in sin." In an July 28 New Yorker article, "Sponsoring Recklessness," James Surowiecki pointed [...]
The spectacular festivities that opened the Beijing Olympics visually portrayed the optimistic forecasts of economist Jeffrey Sachs, who said, "China is the most successful development story in world history." Most economists feel that sometime in [...]
When the Nazis came for the communists, I remained silent; I was not a communist. When they locked up the social democrats, I remained silent; I was not a social democrat. When they came for the trade unionists, [...]
In today's Mad Hatter World, we might remember the Queen of Hearts, the mean-spirited sovereign created by Lewis Carroll in "Alice's Adventures in Wonderland." She sentenced her subjects to death for the slightest offense, [...]
Now that John McCain has selected his running mate—Pit Bull Palin, I feel that I can share my preference John Paulson. Since most of my best friends are Republicans, and at 64 I am running [...]
The dice have been rolled for the fate of 300 million Americans. Congress recently enacted legislation to resolve the worst housing crisis since the Great Depression. This will be the government's greatest effort to [...]
Since the cracks that turned into earthquakes began convulsing the economy in the summer of 2007, pundits have actively debated both the depth of the financial downturn and its duration. More than $300 billion [...]
In 2003, a Goldman Sachs economic team led by Jim O'Neill focused on the positive prospects of four developing countries -- Brazil, Russia, India and China, or "BRIC." In a paper "Dreaming with BRICs: The [...]
Over the past decade, the fortunes of Russia and its leading oil and gas company, Gazprom, have improved dramatically. A decade ago, the price of oil was languishing and Russia was facing possible bankruptcy. [...]
In order to convince his subjects of the wisdom of surrendering after the atomic bombings of Hiroshima and Nagasaki in 1945, Japanese Emperor Hirohito announced over the radio to his beleaguered people that they [...]
Personal Background: On reflection, I would not have written an essay about Hollywood’s failure to produce movies that focused on anti-Semitism and the Holocaust from 1930-1962 without the influence of both of my parents. [...]
'If summer were spring and the other way round, Then all the world would be upside down." In 1781, the above ditty, "The World Turned Upside Down," was reputedly played as the defeated British [...]
Transcript of Charlie Rose’s interview with Gladstone Duck, The Senior Economic Advisor to the third party candidate Mickey Mouse. Charlie Rose: I want to welcome back Gladstone who has been my guest on many [...]
Transcript of Charlie Rose’s interview with Gladstone Duck, The Senior Economic Advisor to the third party candidate Mickey Mouse. Charlie Rose: I want to welcome back Gladstone who has been my guest on many [...]
During the past few weeks, a consensus has emerged that Wall Street has entered a new era of lower returns on equity, thinner profits, fewer jobs and more federal oversight. The declining fortune of [...]
The purported reconnaissance flight by some 250 Israeli airplanes over Iran’s fledgling nuclear program reflects several ominous trends. A number of countries have jump-started nuclear programs by obtaining needed technology from Pakistan, Russia, North [...]
I have been captivated by the declining fortunes of the Big Three -- General Motors, Ford and Chrysler -- since I spent 1968 doing post-graduate research at Oxford on these automakers. Needless to say, their [...]
In recent weeks, key economic data highlight concerns that the economy will not rebound until sometime in 2009. In at least three key areas -- housing, automobiles and retail sales -- recently reported numbers [...]
