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Is Greece the Next Lehman?
We can all remember the sudden collapse of Lehman Brothers in September 2008, the official launch of the last financial crisis. Panicked investors dumped stocks and bonds around the globe in a...
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Hard or Soft Landing for China? How About No Landing
The past few weeks in financial-land have been dominated by two combustible fears: 1.) that this time Greece really will default on its debts and plunge the Eurozone into chaos; and 2.) that this time...
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The U.S. Is Not Drowning In Debt
Both parties appear to accept the logic that the United States is suffering from an unacceptably high level of government debt and that further debt will doom the U.S. to generations of decline....
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Hit by the Fine Print: Three Ways the Debt Deal Could Hurt Seniors on Medicare
Medicare turned 46 last week, but instead of celebrating its major accomplishment — keeping millions of older Americans healthy — it finds itself under siege. The program appears to have squeaked...
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Our New Era of Uncertainty
We’re in a new age of financial volatility that could last years, and it seems that nobody has the answers to get us out. In TIME Magazine’s special Money issue out next week, Assistant Managing Editor...
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The U.S. Government Bond Bubble (And What To Do About It)
America’s finances are deteriorating. The Federal debt has increased by more than 50% over the past three years. New liabilities in 2011 totaled $1.3 trillion. And there is no prospect of a quick fix...
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What Happens if Greece Doesn’t Get a Bailout?
After the Greek Parliament on Sunday passed yet another package of austerity measures demanded by its euro-zone neighbors — this one worth $4.4 billion — the path seemed clear to finalizing a...
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Can a Second Bailout Save Greece?
After months of delays, arguments and doubts, euro-zone finance ministers agreed on a second, $170 billion bailout of beleaguered Greece in the early hours of Tuesday morning. The agreement will not...
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Spain’s Death Spiral and the Hypocrisy of the Euro
Anyone out there who thinks the euro zone debt crisis is over – and you know who you are – should take a good look at what’s going on in Spain. If Italy represented the biggest threat to the euro in...
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Why We Should Worry About Spain’s Economic Pain
Two years ago this month I was in Madrid reporting a story on the troubles of the Spanish economy and what they meant for Europe and its debt crisis. And here I am today writing about the troubles of...
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Ballot Box Breakdown: How Europe’s Elections Will Heat Up the Debt Crisis
There have been many flaws in Europe’s strategy to resolve its ongoing debt crisis: The unreasonable obsession with austerity. The persistent reluctance to commit sufficient financial resources. The...
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European Voters Have Rejected Austerity—So What Happens Next?
So voters in France and Greece sent an inescapable signal to the euro zone: No more austerity. In doing so, they showed that the average guy on the street understands economics better than the people...
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Is a Greek Exit from the Euro Inevitable?
For 2½ years, the world has been watching and waiting to see if debt-laden Greece can remain in the euro zone. Many have been doubtful since the beginning of the debt crisis. Greece’s government debt...
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Which Advanced Economy Has the Most Debt?
The global economy is straining under the weight of more than just public sector debt. In the developed world, consumers, financial institutions, and other corporations have each accumulated...
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Euro Crisis: Is the Currency (Finally) Doomed?
Since the start of Europe’s debt crisis in 2009, there has been a steady drumbeat of predictions that the euro is doomed. The problems were too intractable, the debts too large, the political will too...
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Why Spain’s Big Bank Bailout Is Really a Big Bust
Every time the leaders of the beleaguered euro zone come together to make a decision aimed at quelling its debt crisis, the boost in confidence for the common currency’s future becomes shorter-lived....
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Greek Voters Provide a Respite for the Euro, but for How Long?
The outcome of Sunday’s parliamentary elections in Greece eliminates for the time being the worst-case scenario of a Greek debt default or a disorderly withdrawal from the euro, but the respite for...
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The Euro Crisis: Why Greece’s Election Doesn’t Matter
Sunday’s national election was supposed to be a major turning point for the future of the euro. The fear in financial markets was that a government led by a party with a radical approach to the...
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Will the Global Economy Tumble Off America’s Fiscal Cliff?
Forget all of the talk about the rise of China and the shift of economic power from West to East. The U.S. economy remains the largest and most important in the world, and what happens in America still...
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What Mario Monti’s Exit Tells Us About Europe’s Debt Crisis
So much for a quiet Christmas in the euro zone. The European debt crisis has been off boil for the past several months, but we all knew it was just a matter of time before the steam started rising...
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