Word: inflationitis
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On July 22, Singh will find out whether his gamble has paid off - or if it has cost him his four-year-old administration. That's the date when Singh's centrist Congress Party faces a vote of confidence on the floor of Parliament, a vote brought about by the...
One nonobvious answer is: the central banks of emerging economies. To keep their currencies from appreciating too much against the dollar, emerging nations continue to buy increasingly large amounts of U.S. debt. This provides the U.S. with an indirect funding source to prop up its banks and brokerages, but it...
All this activism comes at a price. The Fed's rate cuts have fueled inflation and undermined the dollar, now trading at about $1.60 to the euro. The Treasury's willingness to backstop Fannie and Freddie, which together are on the hook for $5.2 trillion in mortgage debt--just slightly...
Of course, after Gramm let slip his inconvenient truth, McCain publicly rejected the notion that our economic pain is in our heads. So did Barack Obama, who quipped that America doesn't need another Dr. Phil. They've got a point too. Unemployment, inflation, a $9 trillion national debt and...
"It clearly is a serious political crisis," says Dave Sinardet, a political scientist at the University of Antwerp. He said Leterme's four months as Prime Minister failed to achieve anything of note, apart from balancing the budget. Meanwhile, the country's economy is slowing and inflation is at its...