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World economy 31st October 2013

The U.S. debt drama – soap opera or Lehman quality?

HAMBURG | By Dr. Beate Reszat| Shortly after the US default had been averted on October 16, the S&P 500 closed at an all-time peak of 1,744.50. Alan Wheatley (Reuters) commented enthusiastically: “If Wall Street’s record high is a signpost, the U.S. economy has every chance of pulling further ahead of a stuttering Europe despite new battles to come in Washington over the government’s budget and debt ceiling.” Does this mean that all the worries of the past weeks about a “Lehman moment” were nothing but hot air? Is the debacle that we observed nothing more than an episode in an endless soap opera that long ceased to impress markets?

Even NSA cannot derail the TTIP

World economy 31st October 2013

Even NSA cannot derail the TTIP

WASHINGTON | By Pablo Pardo | A new crisis has hit the EU-US negotiations to create the transatlantic free trade area known as TTIP. Now, the main culprit seems to be Edward Snowden and his revelations about the US National Security Agency (NSA). US defense and national security apparatus have just ignored the situation. However, the concern is much more palpable in the US Treasury, the Commerce Department and the USTR.

No Picture

World economy 30th October 2013

U.S. Spying Scandal: Europe’s Sputnik moment

BERLIN | By at Cicero via Presseurop | Beyond the outrage, the American spying scandal should serve as a wake-up call to the Europeans. Just like the first Soviet satellite pushed the Americans to go into space, these revelations should motivate the Europeans to catch up in information technology.

John Taylor

World economy 30th October 2013

FED: If John Taylor can repeat himself, why can´t I?

SAO PAULO | By Marcus Nunes | When Bernanke took the Fed´s helm the gap had been closed. What happened going forward, in particular the complete loss of nominal stability in 2008, which made the financial crisis immensely more severe, is the doing of the Bernanke Fed.

No Picture

World economy 29th October 2013

Austerity, The Savings Paradox or The Confederacy of Dunces

MADRID | By Luis Arroyo | Some people consider the external surplus of southern countries in the EU as the ultimate proof that the austerity process was a success. But they are wrong. The reality is that everybody is increasingly saving more money –even wealthy people… but nobody is consuming.

No Picture

World economy 29th October 2013

NSA Spying Scandal: Obama Puts In Place PR Damage Control

NEW YORK | By Ana Fuentes | As the NSA spying scandal spreads, the White House is profusely working on damage control. Last night it reported that no final decision has been made, but many officials are already talking of cutting the NSA wings in some way. To reinforce this message, yesterday President Obama came off as special guest on Fusion, a new cable channel for millenials and a highly anticipated television release. Also, Senate intelligence committee chair Diane Feinstein, who used to be a loyal defender of NSA activities, called for a total review of its powers.