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Preparing for a Credit Crisis

“I am sure the Euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.”

- Romano Prodi, EU Commission President, December 2001

Prodi and...

The End of the World, Part 1

Fine, then. Uh oh, overflow, population, common food, but it'll do to

Save yourself, serve yourself. World serves its own needs,
listen to your heart bleed – dummy with the rapture and
the revered and the right, right. You vitriolic, patriotic, slam,

fight, bright light, feeling pretty...

The Recession of 2011?

The data this week was just ugly. Even the uptick in the leading economic indicators, seized upon by so many talking heads, must have a large asterisk beside it. This week we look at the increasing probability that we are headed for recession, and the follow-on implications. Then I take...

The Beginning of the Endgame

I came away from Maine, and meeting with some of the most astute economists in the world, with a series of impressions that will be the core of this week’s letter. On Friday night, S&P downgraded US debt, and of course I need to comment on that. But as we talked the next two days and...

The Cure for High Prices

Today we once again think about the inflation/deflation debate, turn our eyes to Europe and the very interesting election happening there this Sunday, and speculate a little about what could derail the US economy.

But first, a quick note to Conversations subscribers. We have just...