Fischer is surely not the person we need as Yellen's number two. His resume suggests that in his bones he is an austerian. Although he cut rates sharply during the crisis as head of the Israeli central bank, this is not proof he can manage an economy that is struggling to recover.
Of course, it shouldn't take a serious recession to remind us that we should be grateful for our good fortunes. But in a world where it's all too easy to lose sight of what's going right, there may be long-term gains from short-term losses.
Corporate retreats have transformed to perform a vital service for businesses that ultimately generates more revenue without the wastefulness of past generations.
We and others warned a year ago that letting the payroll tax expire would hurt the economy. Policymakers ignored those warnings, and in a new analys...
Andalusia, the largest and most populated autonomous community (let me rather say federal state) in Spain, has recently switched presidents, from the former José Antonio Griñán to the current Susana Díaz.
Legislation proposed in the House and Senate yesterday would renew the Emergency Unemployment Compensation (EUC) program through 2014, providing criti...
Today the Teamsters and American workers face a moment of reckoning. The time has come where people must stand up and say enough is enough to companies that seek to take advantage of employees and taxpayers.
The current market portends a promising future for growth of Phoenix. We have survived one of the worst real estate recessions of all times, and now we are moving into time of expansion for housing. In a state that sees sunlight 85 percent of the year, the future of Metro Phoenix's housing market is just as bright!
Going far is an obvious way to leave your comfort zone, push your limits, challenge your assumptions and broaden your world. But you do not always need to start a huge trip to change your vision and encounter new cultures or points of views.
Spain is in deep recession not only economic-wise, but from every other point of view. Nothing works well in the Kingdom, not even the Monarchy. Profound changes are necessary if Spaniards wish to have any future at all.
It's easy to blame Republicans and the right-wing billionaires that bankroll them, and their unceasing demonization of "big government" as well as deficits. But Democrats in Washington bear some of the responsibility.
The Treasury today released the data for the fiscal year 2013 budget deficit, which amounted to $680 billion, or 4.1 percent of GDP, down about $400 billion from last year's deficit, which was 6.8 percent of GDP. The 2.7 percentage point drop came from 1.5 ppts higher tax receipts and 1.2 ppts lower outlays (both relative to GDP). That's the largest one year decline in the budget deficit since 1969. The deficit is down 6 percentage points of GDP since 2009 -- the largest four-year decline since 1950. We're engaged in a level of budget austerity that would make a European policy maker proud.
No matter how brilliant a strategy, if the people involved aren't committed, it will never take off.
We know the shutdown is not about fiscal responsibility. If it was, Republicans would not have run up the deficit under W by trillions of dollars with two unpaid wars, unpaid Medicare prescription plan, and the Bush tax cuts.
Set a goal, make a plan, and achieve success? Not so fast. In today's post-recession economy, your five-year plan to achieve your life goal is all but null and void. Today, the road to success is full of twists, turns and unexpected detours.
Where is there any good news? The answer lies beneath the surface, under the noise and drama that capture major headlines. Unobtrusive and resilient, the human spirit of kindness, caring and generosity is still thriving.