Friday’s News and Views
US Urges Calm In South China Sea
Secretary of State Hillary Clinton is urging China to ease tensions by working with ASEAN nations to resolve the dispute over islands in the South China Sea, but China has, so far, rebuffed her pleas.
Is Russia The Key To Resolving The War In Syria
David Owen of the London Telegraph maintains that the key to a resolution in Syria is a no-fly zone brokered with Russia.
France Targets High Earners
France approves a temporary 75 percent tax on those earnings over one million euros and a new 45 percent band for revenues over 150,000 euros. The actions are part of a broad plan to address the nation’s debt crisis.
Do The Economists Share As Much Blame As The Politicians?
While much criticism has been leveled at politicians for their failure to handle the debt crisis, Al Lewis of MarketWatch takes economists to task.
Do Recessions Always Lead To Weak Recoveries? No.
Michael Bardo, a Rutgers University professor, argues that the common wisdom that a recession necessarily results in a weak recovery “is mistaken. To the contrary, U.S. business cycles going back more than a century show that deep recessions accompanied by financial crises are almost always followed by rapid recoveries.”