2011--The Year of the U.S. Economic Comeback?
January 14, 2011
Jim O’Neil, an economist at Goldman Sachs and the man who coined the acronym “BRICs” (standing for Brazil, Russia, India, and China) and thereby promoted those countries to the forefront of U.S. and European consciousness, is now saying that the year 2011 is “the year of the U.S. comeback.” Now, it’s true, analysts at investment banks make a lot of lousy predictions. And as our last “MetroMonitor” showed and as everyone in touch with reality already knows, the U.S. economy is still struggling.
January 13, 2011
In the summer of 1932, Louis McFadden, a former bank president turned Pennsylvania Congressman, stood up on the House floor to reveal a sinister plot. Over the course of a 25-minute speech, he explained how the Federal Reserve—“one of the most corrupt institutions the world has ever known”—was being steered by a cabal of European bankers who had, among other sins, paid for Leon Trotsky’s return ticket to Russia and funded the October Revolution. But McFadden’s pleas to dismantle the Fed and embrace gold (in his view, “the only real money”) were greeted with ridicule.
Chalk This One up to Obama's Brilliant Foreign Policy As Well
January 06, 2011
The Hurriyet Daily News and Economic Review is Turkey's major English language newspaper. Its web site this morning reported that, according to a survey of 1503 Turks done by MetroPoll, the United States is considered by 43% of the population as the major threat to Turkey. This means that the U.S. heads the list of enemies of the Turkish state. Israel follows but by only slightly more than half of the respondents. As for Turkey's traditional enemies -Iran, Greece, Iraq, Russia, Armenia- very few respondents see them as antagonists at all.
Three Cheers for Obama and the Dems
December 23, 2010
After last November’s election, one might have expected the Obama White House and Democratic Congress to take six weeks off to mull their defeat. Instead, they used the lame duck session in December to win cloture-proof majorities for some very significant bills. Just today, the Senate ratified the new START arms control treaty by a whopping 71 to 26 vote. On December 18, the Senate voted by 65 to 31 to strike down the Pentagon’s “Don’t Ask, Don’t Tell” policy against gays serving openly in the armed forces. Today’s ratification of the New Start treaty reduces U.S.
Back to Normalcy
December 21, 2010
Where on earth is the United States headed? Has it lost its way? Is the Obama effect, which initially promised to halt the souring of its global image, over? More seriously, is it in some sort of terminal decline? Has it joined the long historical list of number one powers that rose to the top, and then, as Rudyard Kipling outlined it, just slowly fell downhill: “Lo, all our pomp of yesterday / At one with Nineveh and Tyre”? Has it met its match in Afghanistan?
Why Did FIFA Choose Russia?
December 08, 2010
It seems eccentric, to say the least, that the FIFA selection committee chose Russia as the World Cup’s home in 2018, and all the more so as it meant overlooking perfectly serviceable countries such as Britain. (They also chose Qatar over the U.S. for 2022, but that's another counterintuitive story altogether.) Why not Russia, you might ask. After all, the country is home to numerous top-drawer soccer teams and has a solid pedigree for hosting international club games at their stadiums.
American Allies Drop Out Drip by Drip
December 07, 2010
I couldn't believe my eyes as I read Alan Cowell's New York Times report this morning that (as of now) 19 countries would not attend the Nobel Peace Prize ceremony in Oslo for the imprisoned Chinese dissident Liu Xiaobo.
December 07, 2010
When faced with a particularly scary, nettlesome problem, there’s a natural tendency in Washington to accentuate the positive and play for time even when the clock has pretty much run out. This is certainly so with Iran’s nuclear program. In this case, U.S. officials have prepared for talks with Iran, China, Russia, and our key European allies by highlighting Iran’s nuclear difficulties.
December 03, 2010
A verdict in the trial of Mikhail Khodorkovsky—formerly Russia’s richest man and the founder of what was once the country’s largest private company, Yukos—is due to be read on December 15. Yet long before November 2, when Judge Viktor Danilkin of the Moscow Khamovnichesky District Court heard the final statements of prosecution and defense, adjourned the trial, and withdrew to his chambers to deliberate, the Moscow rumor mill had churned out a spate of likely sentences. They range from acquittal to the 14 years that the prosecutors asked for.
Why Wikileaks Is Bad for Progressive Foreign Policy
November 30, 2010
Will the latest Wikileaks dump really matter that much? It’s true, as both Laura Rozen and Kevin Drum have observed, that many of the secret messages don’t seem to reveal big secrets. As Rozen wrote yesterday: one is struck overall that the classified diplomatic discussions on Iran revealed in the cables are not all that different from what one would expect from following the public comments senior U.S.