macroeconomic
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Opinion: Modern Monetary Theory is no cure for the savings-shortage illness
As the pandemic-induced crisis pushed the U.S. national savings rate into negative territory, the country has become even more dependent on capital inflows from abroad to meet its investment needs. And as investors from China are no longer welcome on American shores, where will all that money come from?
Fed-engineered recession may speed dollar bloc’s collapse
The year has not started well for global financial markets. Undoubtedly, one reason that stocks have slumped is that the United States Federal Reserve under Janet Yellen has started to raise interest rates and signaled that more hikes are coming. The hawkish stance of Ms. Yellen’s Fed not only risks ...
First glimmer of hope for Donbas deal as guns fall silent
Russia’s entry into the Syrian conflict has fundamentally altered its stand-off with the United States and Europe. Until Russia launched its first air strikes in Syria on September 30, the crisis in Ukraine was near the top of the international agenda. At the time, some still feared an escalation of ...
As Brazil’s Rousseff reels from crisis, opportunity for reform emerges
Brazil is facing its worst crisis in 70 years. Its economy is mired deep in a recession that will last at least until 2017. The political scene is in disarray, with a president who was re-elected just a year ago now chastened by approval ratings in the single digits. No ...
