Everyday, my mailbox gets inundated with reports from strategists and economists. Two years ago, most were predicting a fairly rosy scenario for the global economy - and to be fair, so was I. Today, most are predicting a dire future of negative growth and economies mired in a deep and...

The current economic crisis has claimed many victims, but what has changed most is the way that the United States is viewed, perhaps permanently. That isn't ideology; it isn't declinism; it's a fact. For all the talk in past year about the shifting balance of power globally, until now it...

So here we are once again on the precipice, at least in terms of global stock markets and credit markets. Another bout of nail-biting panic is hardly unexpected, though it's always surprising when otherwise sane people veer sharply into hysteria. It's a good, albeit painful, reminder that the bonds of...

So the G20 met over the weekend, and if there was any doubt before, there should be none now: the financial balance of power is shifting. China, Brazil, even Japan can all claim more sound economies than the United States, and they collectively let it be known that they...

We are now in the season of scapegoats. The brays for justice and villains grow daily, and this week has seen a walk of shame as various participants in the credit debacle sit in front of Congress to be scolded and upbraided for their sins. Many of the goats today,...

As of today, the global financial system is gripped by panic. In the past two weeks since the bankruptcy of Lehman Brothers, the fear and chaos have accelerated dramatically, and the failure of Congress to pass its proposed $700 bailout bill on Monday unleashed a new wave of panic. That...

The purchase of Merrill Lynch by Bank of America and the bankruptcy and collapse of Lehman Brothers are the latest -- albeit most dramatic - installments of the ongoing credit crisis that began last August 2007. The bailout of Fannie Mae and Freddie Mac, as well as the fire-sale purchase...

The near-miss of Gustav and the laughable (but effective) spin of the Republicans to foreswear politics and put on their "American hats" means that we can now resume watching our regularly scheduled show of politics. Obama's acceptance speech last week was long on pocketbook issues, and short on foreign policy,...

A rousing speech from Michelle Obama and we're off. With the conventions in full-bloom, we will be treated to two weeks of constant coverage. In fact, with 4,000 delegates at the Democratic Convention and 15,000 members of the media, the convention in Denver is as much a media event as...

The recent polls showing a dead-heat race between Obama and McCain also indicate that economic issues are the single most important concern for voters, by far. And few people seem to feel that either candidate is doing much to address the underlying problems.

McCain has sidestepped the issue by attacking...

The Russian invasion of Georgia and the inability of the United States, NATO, the United Nations -- not to mention Georgia itself -- to do anything about it has cast into sharp relief one of the most disturbing consequences of recent American policy in the world. Having focused obsessively on...

A cursory glance at the coverage this week of the Beijing Olympics shows an increasing crescendo of negative commentary. That is evident everywhere from the Huffington Post to the mainstream media, and even sports journalists have been jumping on the anti-China bandwagon. The recent decision of the Chinese government to...

Today, the Bureau of Labor Statistics did what it does every month and released its employment figures. These showed that 51,000 people lost their jobs this month, and that the unemployment rate ticked up to 5.7%, which is a full percentage point higher than it was a year ago. Unsurprisingly,...

More than 75% of Americans now say that the economy is their number one concern heading into the general election in the fall. Those poll numbers are more than confirmed by consumer sentiment surveys which, despite a recent bounce care of the slight retreat of gas prices, have been at...

This just in: General Electric and the government of Abu Dhabi announced an $8 billion joint venture for commercial finance in the Middle East. Through Abu Dhabi's investment arm Mubadala, the emirate will contribute $4 billion and GE the other $4 billion, growing to $40 billion in the coming years,...

Global stock markets are in summer free-fall; the stocks and bonds of financial institutions are sinking more quickly than the Titanic; and sentiment is veering into panic territory. We have, of course, been here before, not necessarily exactly here, but close enough. In 1990-1991, banks also went into a tailspin,...

After months of uncertainty, the Chinese government finally relented and announced that it would allow camera crews and foreign reporters during the Olympics to roam around Beijing and do street shots. They were also given permission to do live feeds from the highly symbolic, picturesque, and because of the events...

Right now, the markets are focused on two stories: the continuing unwinding of the sub-prime mess and the increasing number of recalls of products made in China. At this point, the roiling of the financial markets is the bigger of these two stories. However, the drum beat of negative press...

In a recent Wall Street Journal editorial titled "The Trouble with Islam," the author regurgitated all of the familiar canards about the inherent backwardness of Islam: that the religion at core promotes violence toward unbelievers and toward women, that the Quran calls for death to the Jews, that all...

When the zeitgeist shifts, it really shifts.

The beginning of 2007 saw one of the warmest Januaries on record, and instead of snow, we were treated to a flurry of articles, announcements, conferences, and high level public speeches that demanded action on the part of countries, individuals and companies...