The Ugly Politics of Financial Bailouts

The $700-billion financial-reconstruction package passed by Congress and signed into law last week is a key element in the stabilization of the U.S. financial crisis. But it has become a tremendous political problem. As have similar programs proposed in Ireland and Germany to deal with the increasingly dire state of More…

U.S. Economy Looks Like Weimar on the Brink

Twentieth-century economic history generated two great bogeymen: the Great Inflation and the Great Depression. The memory of both continues to haunt policy-makers.

Only a few years ago, the talk was about the dangers of a world trapped in deflation by the addition of ever more efficient producers in the poor More…