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The Economist (September 15)

2018/ 09/ 17 by jd in Global News

“Debt stalks Africa once again. Over the past six years sub-Saharan governments have issued $81bn in dollar bonds to investors hungry for yield. Piled on top of this are murkier syndicated loans and bilateral debts, many to China and tied to big construction projects. Public debt has climbed above 50% of GDP in half the countries in sub-Saharan Africa. The risk of a crisis is growing.”

 

Bloomberg (September 7)

2018/ 09/ 07 by jd in Global News

“One of the paradoxes of this year’s trade tensions is that in many parts of the world, it doesn’t yet feel like a crisis.” Although it may be “tempting to think the global economy is riding out the turmoil,” it would be “mistaken. Look closely: The slowdown has begun.”

 

Newsweek (September 4)

2018/ 09/ 06 by jd in Global News

“September 15 will mark the tenth anniversary of the collapse of Lehman Brothers and near meltdown of Wall Street, followed by the Great Recession.” With household debt at “an all-time high of $13.2 trillion,” we’re now close to a repeat. The direct cause will be income imbalance, not a banking crisis. “The U.S. economy crashes when it becomes too top heavy because the economy depends on consumer spending to keep it going…. For a time, the middle class and poor can keep the economy going nonetheless by borrowing. But, as in 1929 and 2008, debt bubbles eventually burst. We’re getting dangerously close.”

 

Washington Post (August 14)

2018/ 08/ 16 by jd in Global News

“Even in a world where the United States’ military and diplomatic power seems to be in retreat, there is an element of the U.S.-led order that’s as strong as ever — our dominance of the global economy.” President Recep Tayyip Erdogan of Turkey “may think he can bluff his way through the Brunson crisis, but Turkish banks, construction companies and bondholders know better. In the still-global economy, going it alone really isn’t an option… This summer, as ever, we sink or swim together.”

 

Barrons (August 13)

2018/ 08/ 15 by jd in Global News

“Turkey makes up less than 1% of the emerging markets index, but its small size hasn’t kept it from creating big ripples during the dog days of summer. Most investors are steering clear of Turkey, as it grapples with the fallout from years of binging on dollar-denominated debt, but the bigger question is who else could get caught up in Turkey’s crisis.”

 

LA Times (May 26)

2018/ 05/ 28 by jd in Global News

“Up until just a few weeks ago, China was the single largest market for the world’s recyclables. About two-thirds of the yogurt cups, soda bottles and magazines tucked into curbside recycling bins and crushed into bales were loaded onto cargo ships bound for China…where they were remanufactured into shiny new products and shipped back to the U.S.” China precipitated a crisis, when it halted all imports of recyclables in May. “The U.S. and other nations are still scrambling to figure out what to do with the rapidly growing trash bottleneck,” but China has actually done everyone a favor by creating a sense of urgency. “Policymakers and consumers should step up and take the hard but necessary steps to deal with our out-of-control trash-generating culture.”

 

Reuters (May 23)

2018/ 05/ 25 by jd in Global News

“Pyongyang’s announcement last week that it might pull out of the meeting should have been less of a surprise. North Korea has spent decades using similar tactics to shape the diplomatic agenda with the South and Washington, raising hopes of a breakthrough—then sparking a crisis and moving the goal posts.”

 

CNN (February 1)

2018/ 02/ 03 by jd in Global News

Richard Nixon “proved unable to shut down an FBI investigation of the Watergate break-in and ultimately resigned over the attempted coverup.” Some “extreme Nixonites” believe President Nixon “should have fought harder. Trump, who loves to talk about himself as a fighter, isn’t making that mistake. For this reason, we should expect more of the same…and a deepening crisis for the nation. All of this in service to one man’s state of mind.”

 

 

Bloomberg (November 20)

2017/ 11/ 21 by jd in Global News

“After 12 years in office that have made her Europe’s anchor of stability in times of crisis, Merkel failed to stitch together an alliance that’s never been tried at the national level. While the breakdown leaves her in charge as acting chancellor, the collapse may signal the limit of her pragmatic, non-ideological style of governing and leaves her options for staying in power for another four years dramatically narrowed.”

 

The Guardian (October 17)

2017/ 10/ 18 by jd in Global News

“If Brazil’s recent decline could be plotted in the falling popularity of its presidents, Michel Temer represents the bottom of the curve.” Overall, his popularity now sits at 3%, but “among under 24-year-olds, Temer’s approval hit zero.” Brazil’s president “has been charged with corruption, racketeering and obstruction of justice.” He may conceivably “escape impeachment, but the ongoing political crisis undermines democracy and opens the door to authoritarian hardliners.”

 

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