Reuters (February 20)
“Europe, which was late to appreciate the danger posed by Putin, won’t quickly forget the lesson even if he goes.” National defense budgets are being hiked and “Europe will be paying more for its protection for years to come,” not to mention bearing costs related to supporting and rebuilding Ukraine. Still, “these costs pale by comparison with a scenario where Putin had triumphed in Ukraine. In that case Europe would now be worrying how to protect the Baltic States and Poland from his aggression. Yet even a Russia weakened by a year of war and sanctions remains a problem for Europe.”
Tags: Aggression, Baltic States, Costs, Danger, Defense budgets, Europe, Poland, Protection, Putin, Rebuilding, Sanctions, Triumphed, Ukraine, War, Weakened
New York Times (July 30)
“Mr. Biden has managed to do what Mr. Trump repeatedly promised but never could pull off: move forward on a big-spending, bipartisan deal to rebuild American roads, bridges, water pipes and more.”
Tags: Biden, Big-spending, Bipartisan, Bridges, Deal, Pipes, Promised, Pull off, Rebuilding, Roads, Trump, U.S., Water
LA Times (January 11)
California must “break the terrifying pattern of fire and flood….Water and fire can be a lethal combination,” but there is a way forward. “Taxing ourselves to create more open space in the foothills will not stop fires from erupting or rain from falling. It will give city and county planners a powerful tool by which to restrain growth, offer burned-out homeowners a safer option than rebuilding in fire zones, and give those living downhill in the path of the slides some much-needed breathing room.”
Tags: California, Fire, Fire zones, Flood, Foothills, Growth, Lethal, Open space, Rebuilding, Taxes
Detroit Free Press (July 19)
Detroit became the largest U.S. city to file for bankruptcy, hoping to escape nearly $20 billion in debt. “The word bankruptcy provokes an intense emotional response. Instinctively, many Detroiters feel the news is horrible and is synonymous with defeat. Fear kicks in as we envision our city being shut down and sold for scrap…. In fact, it is the exact lifeline we need to unshackle our town from the mismanagement, corruption and incompetence of the past in order to get on with the real work of rebuilding Detroit.”
Tags: Bankruptcy, Corruption, Debt, Detroit, Incompetence, Lifeline, Mismanagement, Rebuilding, U.S.
Financial Times (November 11)
According to preliminary figures released by Japan’s Cabinet Office, the domestic economy contracted by 0.9% during the July to September period, amid falling exports and dwindling stimulus from rebuilding efforts. “As many economic indicators have deteriorated further since September, it seems likely that the country has entered its fifth technical recession – two consecutive quarters of contraction – of the past 15 years.”
Tags: Cabinet Office, Economy, Exports, Japan, Rebuilding, Recession, Stimulus
Financial Times (March 15)
Can anything good come of Japan’s disaster? Martin Wolf dismisses fears that rebuilding will financially strap the government of Japan. In fact, the rebuilding effort may provide the focus to jumpstart a country that’s been floundering for decades. “It is in adversity that a country shows its mettle. The Japanese will surely do just that, on this occasion. It is for the leaders to match the mettle of the people. If they are able to do so, out of a great disaster may yet come a rebirth.”
Tags: Disaster, Economy, Government, Japan, Rebuilding
