Compared to the antics of Washington, Europe seemed like a preserve of peace and collegiality. But, as 2014 demonstrates, times have changed. EU politics have heated up as the Union meets challenges at every edge.
The US debt ceiling is a legislative limit on the US Treasury's ability to borrow money. It was first created in 1917 and can be modified by Congress. As of this month's agreement, the debt ceiling has been raised 79 times since 1960.
The Fed's lending to the global banking system through front and back doors has distorted the value of U.S. dollar. Foreign central banks engage in money printing to keep in step. As a result, we've inflated distorted asset bubbles on a scale never before seen in the history of the world.
Why would inflation, a fiscal and monetary circumstance which human beings by instinct regard as an ill omen, be seen in such positive hues by economists as renowned as Nobel Prize winner Paul Krugman?