Saturday Readings: Middle East, European Recession
What Is Gained From More Death In The Middle East?Photos are emerging from Israel and Gaza of wounded civilians and bloodied faces as the rockets are exchanged. With the death count almost certain to rise, some wonder why the violence continues. Dan Murphy of the Christian Science Monitor makes the case that “the grim logic of the Israeli-Palestinian conflict is convincing men on both sides that more death is what’s needed now to secure their own interests.”
Globalization Increases Value Of Free Trade
In a world in which nations (large and small) are increasingly linked by technology and the flow of goods, services, and individuals, is it really possible not to promote free trade policies? Lori Ann Loracco argues in Forbes that today’s globalized world, free trade is even more vital to fostering economic growth.
For Greece, Could The Third Time Be Lucky?
After two previous bailouts, it appears the European Central Bank is inching toward approving a loan of approximately 32.6 billion Euros, which is viewed in all circles as a third bail-out. As the Economist notes, another infusion of funds will not ensure the financial security of Greece.
“The previous bailout, which included a big haircut on private bondholders (known as Private Sector Involvement, or PSI), was supposed to bring Greece’s debt below 120% of GDP by 2020. That will be missed by a wide margin,” says the magazine.
US Economy Faces Mutliple Challenges
The fiscal cliff may be the most pressing of challenges to the US economy, but it is not the only problem President Obama must confront in his second term.
European Recession Is Bad News – For All
There may be an ocean dividing the US from Europe, but in a globalized economy the recessionary wave sweeping through the continent is certain to dampen US economic growth too.