The long-standing wisdom that everyone wins in a single world market has been undermined. Global trade, capital flows, and immigration are declining.
From Roger Altman
The financial and economic crash of 2008, the worst in over 75 years, is a major geopolitical setback for the United States and Europe.
Reasonable mergers generate substantial synergies, so that provides for earnings and cash-flow growth even if it doesn't provide for revenue growth, and I think that's a big driver.
In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.
Many Russia experts note the deep and sad capacity of the Russian people for suffering.
The more Mr. Putin extends the fighting in eastern Ukraine, the more the financial markets will ratchet up their own pressure on Russia.
There are a lot of anachronisms in Washington, but the need to periodically raise the debt limit by Congressional vote is certainly one of them.
As we all know, the budget decisions which give rise to increased debt are what counts, and the debt is just a by-product of those budget decisions.
China is beginning to act more like a world citizen. We need China to be more active on the world stage. For example, we should want China to be a bigger participant and a bigger shareholder in the IMF. We should want it to be an even more active participant in the G8 and G20.
If a lending institution is faced with bids for a package of toxic assets that are less than the carrying value of those assets, the sale of those assets would trigger a further loss and reduce the underlying capital of the institution.
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