When was the last time you stopped to pick up a penny? Considering most of us consider the one-cent coin almost worthless these days, it’s probably been a while. Still, the U.S. penny persists
Currency
The Pessimist’s Guide to Surviving the Fiscal Cliff
Whatever the budget deal, it probably won’t be able to prevent sluggish growth and the risk of rising inflation.
Whoever He Is, the President Elect Will Quickly Face an Economic Crisis
The U.S. is confronting a dizzying array of financial issues that will have to be dealt with early next year.
LIBOR Lending Rate Gets Overhaul (Sort Of)
UK regulator proposes “reset” of scandal-ridden money market rate system and new regulation, but the way rates are fixed won’t fundamentally change.
The Strange Allure of the Gold Standard
Some Republicans want to take the country forward by taking us back — way back – to the gold standard. The Republican party platform, approved on Tuesday, warns against the evils of “easy money and loose credit” and calls for …
The Big New Idea for Saving the Euro
Giving Europe’s bailout fund a banking license would provide massive firepower to help flailing states, but proposal must first overcome deep German skepticism
China Takes a Big Step to Make the Yuan a Rival to the Dollar
Beijing looks to its reformist past to launch an important experiment aimed at expanding the country’s role in global finance
Why Spain’s Big Bank Bailout Is Really a Big Bust
Spain’s banks received a pledge for a huge rescue package from the European Union over the weekend. But some experts believe the bailout may end up causing more pain for the Spanish government in the long run
China’s Antiquated Financial System: The Creaking Grows Louder
In April, Chinese Premier Wen Jiabao took aim at China’s powerful state-owned banks. According to Reuters, he said at a discussion with local businesses: “Frankly, our banks make profits far too easily. Why? Because a small …
Why the Euro Zone Could Unravel Shockingly Fast
Last week, I attended an informal seminar on the outlook for the euro given by the Foreign Policy Research Institute (FPRI). Two knowledgeable and thoughtful experts analyzed the current woes and historical flaws of the European …
Euro Crisis: Is the Currency (Finally) Doomed?
Since the start of Europe’s debt crisis in 2009, there has been a steady drumbeat of predictions that the euro is doomed. The problems were too intractable, the debts too large, the political will too feeble. So far, the …