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Monthly Archives: April 2013
Reinhart and Rogoff study based on flawed data:I pointed this out in 2010
It comes as no surprise to me that researchers at the University of Massachusetts at Amherst have published a study showing that the conclusions which Carmen Reinhart and Kenneth Rogoff drew about debt and economic growth were inappropriate and unjustified … Continue reading
Boston Marathon Terrorism: An appalling act of barbarism
Terrorism, that plague of modernity has returned to haunt us with the cruel, cowardly attack on the Boston marathon. For millions of people the marathon is an iconic competition open to all levels of long distance runners of all ages. … Continue reading
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The end of an era ? Margaret Thatcher passes away A controversial but also creative force in British politics is gone.
Margaret Thatcher, an elemental force of great magnetism but also great negative consequences, has passed away. She enters history as an extraordinary politician and certainly one of the great figures on the Tory side of British politics. From my liberal … Continue reading
U.S. unemployment 7.6 % in March, 88,000 net new employment, sequester begins to slow job creation.
This past month’s U.S. unemployment numbers show that the rate of unemployment is dropping hardly at all and the number of new jobs created fell from the plus 200,000 range to just 88,000. The broader definition of unemployment fell however … Continue reading
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Unemployment in Europe averages 12 % as of February 2013
The bitter fruits of austerity are on display in the latest unemployment report from Eurostat. Overall there are 26 million people out of work in Europe. unemployment averages 12 %. It is 10.8 % in France,7.7 % in the U.K., … Continue reading
Cypriot events send worrisome message to savers and bank customers throughout Europe.
The dust is now settling on the wreckage of the Cypriot economy and its financial services sector. In a move that shocked many millions of people in Europe and elsewhere the European union , the ECB and the IMF imposed … Continue reading