"The last thing the world economy needs right now is the threat of rising protectionism" - World Trade Organization Director-General Paul Lamy Trade has fueled economic growth over the centuries, from the gold trade [...]
I believe that the decision by New York’s top prosecutor to sue J.P. Morgan for $ billions for widespread fraud in the sale of mortgage-backed securities is reprehensible. The case is the first to [...]
On Sept. 14, in response to protests by thousands of Japan's people, the country's national policy minister, Motoshisa Furukawa, announced: "We will introduce policies to bring down nuclear power generation to zero within the [...]
Economists debate whether the Federal Reserve has the tools to fix today's unemployment problems. They express frustration that, after four years of super-low interest rates and the Fed's extraordinary money-pumping, we still suffer from [...]
In August 2011, after months of wrangling over the deficit ceiling, political leaders from both parties decided to postpone solving our fiscal problems until January 2013. To resolve the impasse over the budget ceiling, [...]
"We are facing a fiscal train wreck at the end of this year. It is time to move off of fixed positions." - Sen. Kent Conrad, Democratic chairman of the Senate Budget Committee Congress [...]
On June 28, the Bank for International Settlements, an intergovernmental organization of central banks, in its annual report warned central banks against keeping interest rates low for too long. BIS, a kind of central [...]
"During the 2008 financial crisis, the bulk of the government's $700 billion Troubled Asset Relief Program went to aid larger institutions, leaving many smaller banks vulnerable." - Nobel Prize-winning economist Joseph Stiglitz, speaking to [...]
“Certainly these children are deserving of services, but it’s a question of whether all this money is actually benefiting them or is being wasted on the contractors.” - Raymond J. Domanico, director of education [...]
Many Americans think of Canada as our 51st state. But recent events highlight Canada's desire to avoid a satellite status and, instead, to expand its commercial relationships with China. Canadians, led by Prime Minister [...]
The Passage of Power: The Years of Lyndon Johnson By Robert A. Caro President Bill Clinton wrote the following in his review of Caro’s book, the Passage of Power. “After all the years of striving [...]
In prescribing a cure for Europe's economic woes, we might remember the lyrics of the song "A Spoonful of Sugar Helps the Medicine Go Down." Bob Sherman, the lyricist for "Mary Poppins," said he [...]
Billionaire investor Warren Buffett and BlackRock CEO Larry Fink recently provided a strong rationale for going all-in on stocks. Buffett wrote in his 2012 annual letter that he believed equities would, over time, provide [...]
Japan has lost its exporting magic. Japan's Ministry of Finance reported its first annual trade deficit since 1980: approximately $32 billion. A trade deficit occurs when a country consumes more (imports) than it produces [...]
"I don't agree with him on everything, but he is right about the out-of- control and unaccountable Federal Reserve." - Sen. Jim DeMint R-SC, referring to Rep. Ron Paul The Republican Party has a [...]
When I initially considered joining the board of directors of a publicly traded company, my first thoughts were the images conveyed by the film industry. I pictured myself sitting with nicely dressed people around [...]
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 [...]
Foreword People must remember the Holocaust as a insult to humanity. The lives lost were not only great in number, but offered so much to mankind. How the world would have been different if the [...]
I recently watched a wonderful series that portrayed Churchill during his wilderness years. From 1929-1939 Churchill was not a member of the cabinet. He even lost two elections for Parliament. William Manchester in his book [...]
“The boom, not the slump, is the right time for austerity at the Treasury.” -John Maynard Keynes, 1937 In a New York Times editorial Keynes Was Right Paul Krugman agreed with Keynes. Krugman endorsed [...]
"We will do what is needed to maintain price stability." - Mario Draghi, president, European Central Bank, March 13, Vienna The European Central Bank recently indicated its willingness to take dramatic actions at its [...]
"The U.S. decision to delay approval of the Keystone XL pipeline is a catastrophic cop-out by the Obama administration." -- David Wilkins, former U.S. ambassador to Canada under President George W. Bush On Oct. [...]
MF Global Holdings' bankruptcy underscores just how easily Europe's problems can reverberate throughout the financial system. MF Global is the biggest failure by a securities firm since Lehman Brothers Holdings Inc. filed for Chapter [...]
"Keeping these devices in sync is driving us crazy. We are going to demote the PC to just be a device. We are going to move the digital hub, the center of your digital [...]
"We put our clients' interests first." - Michael Cozene, senior vice president, GenSpring Family Office, Sarasota This summer, Soros Fund Management, the investment operation of hedge-fund billionaire George Soros, decided to return the money [...]
"The top U.S. financial institutions have become zombie banks that will need a decade to adjust their businesses to the new realities in the industry." - Meredith Whitney, CEO of Meredith Whitney Advisory Group, [...]
For those of us who own equities, the last five weeks have been devastating. Market losses have put us into red territory for 2011 and even wiped out much of our profits in 2010. [...]
On July 26, the Pew Research Center released a study, "Wealth Gaps Rise to Record Highs Between Whites, Blacks and Hispanics." Pew reported that the wealth of different racial groups in the United States [...]
"The U.S. seriously lags behind the rest of the world in addressing its infrastructure issues and lacks any type of comprehensive national policy or political will to develop a long-term approach." - Howard Roth, [...]
And somewhere men are laughing, and little children shout; But there is no joy in Mudville - mighty Casey has struck out. - “Casey at the Bat,” by Ernest L. Thayer Washington, like Mudville, [...]
Near the end of the HBO movie "Too Big to Fail," Federal Reserve Chairman Ben Bernanke is shown stating his rationale for the government's bailout of Wall Street firms despite their greed and their [...]
Henry Kissinger, in his recent book, "On China," wrote that Chinese Premier Zhou Enlai said in 1971 of the U.S.-China relationship: "This will shake the world." Kissinger responded to Zhou's statement by asking "whether [...]
June 5- June 10, 1967 “We shall not enter Palestine with its soil covered in sand. We shall enter it with its soil saturated in blood.” Egypt’s President Gamal Nasser Introduction: The perceived change in [...]
"If at first you don't succeed, try, try again. Then quit. There's no point in being a damn fool about it." -W.C. Fields Fields could have meant this advice for Federal Reserve Chairman Ben [...]
"There are risks and costs to action. But they are far less than the long-range risks of comfortable inaction." - John F. Kennedy Those of us with more than a few gray hairs can [...]
"We think fundamentally that this transaction is so anti-competitive that there's no way to fix it that doesn't result in harm to consumers and the economy." - Charles McKee, Vice President of Government Affairs, [...]
