Angela Merkel

Berlin, Germany—Germany is at the center of the European financial crisis that is threatening to sink Europe, and much of the rest of the world, into a double-dip recession, but you would hardly know it in Berlin. But for the relatively small protests this past weekend in solidarity with the Occupy Wall Street movement, there have been few signs here of the discontented masses who have recently assumed control of city squares in Madrid, or threatened to storm the parliament in Athens. READ MORE >>

Doom!

This is no time for gloating, neither for Americans nor for Europeans. For both sides are in deep economic trouble, only in different ways. The U.S. runs the worst deficit (as share of GDP) since World War II, and yet Keynesianism to the max won’t budge the unemployment rate—pace Professors Krugman and Stiglitz. What does fall is the dollar and the price of real estate, a double-whammy if ever there was one. READ MORE >>

Turkey is not going to join the European Union. Bald or candid statements are usually unwise, or “impolitic,” which is why politicians tend to avoid them, knowing that they may be falsified by events. But some can be made with absolute confidence, and here is one of them. READ MORE >>

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