ECONOMY & POLITICS

The Euro is murdering the nations and economies of the EU quite literally. Since the fixed currency regime came into effect, replacing national currencies in transactions in 2002, the fixed exchange rate regime has devastated industry in the periphery states of the 19 Euro members while giving disproportionate benefit to Germany. The consequence has been a little-noted industrial contraction and…
A fraudulent campaign has resulted in the election of a fraudulent president. What can be done to save American democracy? The recent presidential campaign season brought political pornography to the American people. Donald Trump and Steve Bannon, his senior counselor and chief strategist, have ushered in a new dark age of American politics.  
The ECB’s increasingly shrill mantra that it makes policy for the monetary union as a whole and not for its largest member (Germany) could well cause a black swan to appear — in the form of a German political shock this autumn. The Frankfurt-based officials have been ignoring the historical observation of Nobel Prize-winning economist Robert Mundell that central banks…
For leftist critics of the EU, reform looks unlikely — but aligning with right-wing Euroskeptics looks worse. Maybe there's a third option. When European Union President Jean-Claude Juncker addressed the European Parliament in Strasbourg this past September, he told them the organization was facing an “existential crisis.” In part, he blamed “national governments so weakened by the forces of populism”…
We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis. We normally survive financial crises, thanks to the successful actions of central banks as lenders of last resort. However, the origins and construction of both…
Can the EU still unite a continent shattered by world wars, or is it little more than a vehicle for austerity capitalism? The European Union is one of the premier trade organizations on the planet, with a collective GDP that surpasses the world’s largest national economies. But it’s far more than a trade group. It’s also a banker, a judicial…
Between now and next April, four members of the European Union (EU) will hold national elections. They'll go a long ways toward determining whether the 28-member organization will continue to follow an economic model that's generated vast wealth for a few, widespread misery for many, and growing income inequality for all.
Historically, low oil prices have been perceived by many as an overriding positive for the economy. This has especially been the case in the United States where most households rely on car travel as a primary means of transport. Low oil prices allow households to spend more on economic activities other than gasoline and other oil-related expenses. Historically, every time…
Memory is selective and therein lays an explanation for some of the deep animosity between Berlin and Athens in the current debt crisis that has shaken the European Union (EU) to its foundations.
Bitcoin, a peer-to-peer digital currency, operates without the involvement of traditional financial institutions and provides a direct digital alternative to physical currencies and commodities. Governments worldwide generally do not yet see it and other digital currencies as a destabilizing "threat," and some scholars have argued that it may best be seen as a speculative investment. Bitcoin has certainly had its…

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