Chicago Tribune (August 30)
If the Earth is ever invaded by aliens from another planet, former U.S. president Jimmy Carter would be the ideal negotiator. Carter negotiated the release of an American citizen with North Korea, making him “well-equipped to try to decipher the motives of strange aliens who do not behave according to our ideas of rationality.” This was not Carter’s first negotiation with North Korea. The strange thing this time was that Carter was invited by Kim Jong Il, who bizarrely travelled to China during Carter’s visit. Go figure…or rather don’t even try.
If the Earth is ever invaded by aliens from another planet, former U.S. president Jimmy Carter would be the ideal negotiator. Carter just negotiated the release of an American citizen with North Korea, making him “well-equipped to try to decipher the motives of strange aliens who do not behave according to our ideas of rationality.” This was not Carter’s first negotiation with North Korea. The strange thing this time was that Carter was invited by Kim Jong Il, who bizarrely travelled to China during Carter’s visit. Go figure…or rather don’t even try.
Tags: Carter, Kim Jong Il, North Korea
New York Times (August 29)
“If a country sinks beneath the sea, is it still a country?” No idle riddle, the Marshall Islands is consulting experts on this and other tricky questions. What nationality will their people have once the islands are under water? Who will retain the mineral and fishing rights? Will the islanders still be in the U.N.? The predicament points to the urgent need for a comprehensive energy and climate bill in the U.S.
“If a country sinks beneath the sea, is it still a country?” No idle riddle, the Marshall Islands is consulting experts on this and other tricky questions. What nationality will their people have once the islands are under water? Who will retain the mineral and fishing rights? Will the islanders still be in the U.N.? The predicament points to the urgent need for a comprehensive energy and climate bill in the U.S.
Tags: Global warming, Marshall Islands, U.N.
The Economist (August 26)
Is America turning inward? Next week, America is pulling combat troops out of Iraq. Some Americans would like to escape other overseas commitments, such as Afghanistan, to focus solely on solving America’s economic difficulties. The Economist applauds President Obama for maintaining international commitments, pointing out this also protects America’s self-interest. “If America does not take on the task of containing such threats, who else will, or can? For all the difficulties at home, the fact remains that the biggest gainer from a strong America abroad is America itself. “
Tags: Afghanistan, Economy, Iraq, U.S.
Wall Street Journal (August 26)
Former Vice Chairman of the Federal Reserve Board Alan Blinder writes that “the Fed has already spent its most powerful ammunition; only the weak stuff is left.” Blinder examines the Fed’s remaining options for perking up the economy. He suggests tweaks, such as buying private assets rather than Treasuries, to strengthen the remaining options.
Former Vice Chairman of the Federal Reserve Board Alan Blinder writes that “the Fed has already spent its most powerful ammunition; only the weak stuff is left.” Blinder examines remaining options for perking up the economy. He suggests tweaks, such as buying private assets rather than Treasuries, to make the remaining options more effective.
Financial Times (August 23)
High-frequency traders are being scrutinized by the Financial Industry Regulatory Association (FINRA). Broker-dealers that provided clients with direct market access may be fined if they did not implement required risk-management controls. The Financial Times thinks this is a good thing. During the May 6 “flash crash” U.S. stocks dropped almost 1,000 points, yet “officials still do not fully understand what happened.” Regulators need to “catch up.” Technical fixes and new rules can help “ensure markets serve the non-professional users who access them.”
Tags: Broker dealers, FINRA, Flash crash
Barron’s (August 21)
General Motors (GM) is preparing for an initial public offering (IPO). This is not just any IPO. President Obama has pledged that taxpayers will get their entire $50 billion investment back. Barron’s is not optimistic. “We figure that the company’s market value could be around $66 billion, or $118 a share.” That would value GM higher than Ford or Daimler, but “it would take a price of around $135 a common share” for taxpayers to get their full $50 billion back.
New York Times (August 20)
Too many people are losing their homes. July marked the 17th consecutive month of over 300,000 foreclosure filings. As houses are repossessed and sold, the real estate market suffers. The New York Times calls on government action “to help Americans hold on to their homes and to stabilize home prices.”
Too many people are losing their homes. July marked the 17th consecutive month of over 300,000 foreclosure filings. As houses are repossessed and sold, the real estate market suffers. The New York Times calls on government action to “to help Americans hold on to their homes and to stabilize home prices.”
Tags: Foreclosures, Real estate, U.S.
The Economist (August 19)
China has already become the world’s biggest beer market. Moreover, it’s growing at a rapid annual rate of 10%. The Economist feels China is a market with “huge potential.” Per capita figures make the potential obvious. Annually, China consumes 31 liters of beer per person versus 49 in Japan, 79 in the U.S. and a whopping 161 in the Czech Republic.
Tags: Beer, China, Japan, U.S. Czech Republic
Bloomberg (August 16)
Today Japan. Tomorrow the U.S. China surpassed Japan by becoming the world’s second largest economy during the second quarter of 2010. PricewaterhouseCoopers predicts China will dethrone the U.S. economy from the top spot in 2020. Goldman Sachs predicts it may take until 2027 for China’s economy to become the world’s largest.
Wall Street Journal (August 16)
The U.S is settling into a “new normal” and won’t return to the heady growth that followed other recessions, according to Mort Zuckerman, the editor of US News & World Report. Zuckerman believes 2% growth is more likely than 6% growth. This means predictions that unemployment (currently 9.5%) will fall to reasonable levels by 2013 are overly optimistic. Zuckerman believes it will take 6-9 years because “the labor market may be improving, but the pace is glacial.”
Tags: Economy, Recovery, U.S., Unemployment