germany

German Finance Minister Peer Steinbrück explains how the world is changing

Americans see this as a crisis with small roots.  Bad mortgages, or perhaps too much speculation in real estate.  The changes have come so unexpectedly (to most American), so rapidly, that their significance remains a mystery.  Leaders in the rest of the world see these events more clearly.  Some examples were given in The most …

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The most important news of the month. Perhaps the year.

Summary:  The warnings continue from our foreign creditors, as they see the deeper significance of America’s financial crisis.  The post-WWII geopolitical regime is ending, and they are thinking about the future.  Through one of those peculiar episodes of blindness that shapes history, the more warnings America receives — the more indifferent we become to them.  …

The most important news of the month. Perhaps the year. Read More »

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