By Will Portman Due to vicious circle effects, it becomes more and more expensive to pay off the national debt the more and more debt we accumulate, beyond the obvious fact that it’s a greater burden to pay back a greater sum of money. With each new dollar of deficit spending, we’re not merely digging … Continue reading
Latest Entries
A More Free China?
A month ago the World Bank and the Development and Research Center of the State Council of China (DRC) along with the Ministry of Finance (MOF), released a joint report projecting a decline in Chinese economic growth over the next 20 years if the government does not implement serious reforms. This report came as a … Continue reading
Economic Daily Outlook
THURSDAY, MARCH 29, 2012 ECONOMICS: OECD Sees Europe, U.S. Drifting Apart http://online.wsj.com/article/SB10001424052702303816504577311043529851790.html The economies of Europe and North America will diverge in the first half of this year, with European budget cuts dragging on demand while the U.S. economic recovery picking up steam, the Organization for Economic Cooperation and Development said in a report … Continue reading
Economic Daily Outlook
WEDNESDAY, MARCH 28, 2012 ECONOMICS: Group Backs Simpson-Bowles Plan http://online.wsj.com/article/SB10001424052702303404704577307710169626858.html A small bipartisan group of House lawmakers, bucking their Democratic and Republican leaders, is advancing a plan to reduce the federal budget deficit by more than $4 trillion over 10 years through a combination of spending cuts and tax increases. A vote on the … Continue reading
Economy / Foreign Policy / Other / Politics
For Israel, Nuclear Iran Not Biggest Concern
All we hear from Israel is everything Iran. Netanyahu, in a fiery speech, said in relation to Iran: “as Prime Minister of Israel, I will never let my people live under the shadow of annihilation.” Israelis have lots of important issues on their plate. In Israel there are numerous social cleavages and economic issues that … Continue reading
Economic Daily Outlook
TUESDAY, MARCH 27, 2012 ECONOMICS: Bernanke says U.S. needs faster growth http://www.reuters.com/article/2012/03/27/us-bernanke-idUSBRE82P0GZ20120327 The U.S. economy needs to grow more quickly to bring the unemployment rate down further, Federal Reserve Chairman Ben Bernanke said on Monday, defending the central bank’s policy of very low interest rates. While he offered no indication the Fed is keen … Continue reading
Work Hard, Play Hard (Not Really): Foreign Patent Law Harms American Drug Innovation
While most people believe that if you work hard you should be able reap the rewards, the Supreme Court of India thinks otherwise. In a recent ruling by the court, Bayer was denied the patent of their advanced kidney and liver cancer drug, Nexavar, and will be required to license their product to Indian generic … Continue reading
Economic Daily Outlook
MONDAY, MARCH 26, 2012 ECONOMICS: Economists see higher taxes as way to cut deficit http://www.businessweek.com/ap/2012-03/D9TNUKVO0.htm Economists say a combination of higher taxes and lower spending is the best way to reduce the federal budget deficit. A survey on economic policies conducted by the National Association for Business Economists released Monday also forecast that short-term … Continue reading
The first verdict delivered from the International Criminal Court
The United Nations drafted the Rome Statute, which established the International Criminal Court (ICC) in 2002. However, it should be understood that the ICC is an independent international organization and not under the authority of the United Nations. The ICC serves as an international court system, in The Hague, Netherlands and is supported by 120 … Continue reading
Economic Daily Outlook
FRIDAY, MARCH 23, 2012 ECONOMICS: Fed Hosts Global Gathering on Easy Money http://online.wsj.com/article/SB10001424052702303812904577297821210889302.html The world’s leading central bankers have spent much of the past few months putting out financial fires and launching measures aimed at recharging the global economy. On Friday, they will gather here to gauge the impact of their easy-money policies—including whether … Continue reading
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