Summary: There are two paths for Europe. The path it is on, leading to a painful future and fundamental change. And the other path, with unknown risks and pain -- but offering the potential for a better future. The path chosen by Europe's leaders reveals much about them. The outcome will reveal much about Europe's peoples. Two … Continue reading Are Europe’s rulers copying the policies of Herbert Hoover in 1929, or the French Monarchy in 1789?
Summary: Team Obama has chosen the soft path to economic recovery. Spend money while stalling any substantial reforms. No confronting our deep structural reforms, just wait for the recovery due later this year. It might work -- reliable forecasts are difficult or impossible these days -- but its failure would leave us far weaker, making … Continue reading Napoleon’s advice to President Obama about the financial crisis