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Bailout

Europocalypse Explained

June 15, 2012

Europe's fiscal future is looking bleaker by the day. This weekend, the G-20 will convene in Mexico to determine how to avoid a possible global market meltdown spurred by European bank debt and default. In this podcast, two members of New America's World Economic Roundtable --Jonathan Carmel, the portfolio manager at Carmel Asset Management, and Peter Tchir, the founder of T. F. Market Advisers -- talk about the implications of the impending Spanish bank bailout, the possible consequences of this weekend's Greek election, and how the U.S.

Achtung Baby: Germany Is Riskier than You Think

June 5, 2012

This presentation is posted with permission from World Economic Roundtable members from Carmel Asset Management.

The Pain in Spain

April 10, 2012

The eurozone crisis has re-emerged with rising borrowing costs in Italy and Spain and increasing concerns about the prospects for growth.

The Tragedy of the Euro and the Middle East

  • By
  • Afshin Molavi,
  • New America Foundation
December 1, 2011 |

For the past several years, Italy under Prime Minister Silvio Berlusconi resembled a political comic opera, with a larger-than-life character of ravenous appetites and tragic hubris. But the recent "political death" of Mr Berlusconi represents only the end of Act One. Two more acts remain, and this drama could turn from comedy to tragedy quickly.

Is the Eurozone on the Brink of Collapse?

  • By
  • Sherle R. Schwenninger,
  • New America Foundation
November 2, 2011 |

After days of drama-filled meetings, in late October eurozone leaders announced the latest “comprehensive” rescue plan. Although it was an improvement over earlier efforts, this package, too, came up short in that it failed to calm the markets and offer the eurozone a path back to economic growth. And without growth, there will be many more months of crisis.

The Way Forward

  • By Daniel Alpert, Westwood Capital; Robert Hockett, Professor of Law, Cornell University; and Nouriel Roubini, Professor of Economics, New York University
October 10, 2011

Notwithstanding repeated attempts at monetary and fiscal stimulus since 2009, the United States remains mired in what is by far its worst economic slump since that of the 1930s.1  More than 25 million working-age Americans remain unemployed or underemployed, the employment-to-population ratio lingers at an historic low of 58.3 percent,2 business investment continues at historically weak levels, and consumption expenditure remains weighed down by massive private sector debt overhang left by the bursting of the housing and credit bubble a bit over three years ago.

Response to President Obama's American Jobs Act

  • By
  • Sherle R. Schwenninger,
  • Samuel Sherraden,
  • New America Foundation
September 8, 2011

In putting forth his jobs program, President Obama faced a difficult dilemma: propose a program that could gain Republican support or a more ambitious program that would actually get the economy back on a path of recovery and job creation.

Government Infected

July 29, 2011
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-- This is a guest post by Jay Pelosky, Principal, J2Z Advisory, LLC --

The economic and investment outlook for the second half of the year is rocky.  The European debt crisis, U.S. fiscal woes, and inflation in emerging economies remain a problem, and in some cases have taken a turn for the worse. Risks are rising of a major drop in stocks and possibly bonds (resulting in rising yields). The implication could well be a shrinking world economy.

A Vision for Economic Renewal

  • By Task Force on Job Creation
July 26, 2011

The economic environment in America today is more dire than most of us have ever known. We are in the midst of an unemployment emergency, in essence a jobless recovery: notwithstanding recent marginal upticks in official U.S. jobs numbers, there will be no fundamental improvement in the unemployment picture unless major new national economic strategy initiatives are taken. Who will step up to drive them forward?

The Jobs Question

  • By James K. Galbraith, Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government, University of Texas at Austin
July 19, 2011

This is by far the most jobless of recent recoveries. Allen Sinai, a man known for describing numbers carefully, already wrote in November 2009:

Never has business shed so many workers so fast, so many people failed to find work who are looking for work, and so many dropped out of the labor force as in the current circumstance.”

By that time, the stock market was already recovering but payrolls were not. Sinai wrote:

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