NEW statistics show an ever-more-startling divergence between the fortunes of the wealthy and everybody else — and the desperate need to address this wrenching problem. Even in a country that sometimes seems inured to income inequality, these takeaways are truly stunning.
Financial Times
Tuesday’s release by the Federal Reserve of the results of its annual round of “stress tests” of the 19 largest American banks was yet another confirmation of the deftness with which the US government has handled the financial crisis.
Financial Times
Two reminders of the age-old debate over the merits of equities versus bonds emerged almost simultaneously in recent days.
New York Times
WHEN Mitt Romney takes the podium at Ford Field in Detroit today, he’s likely to include yet another sharp denunciation of the government’s rescue of General Motors and Chrysler.
Financial Times
Amid the finger-pointing about the failures of capitalism, we should not forget the responsibility of governments. They relaxed regulatory requirements, turned a blind eye to dangerous activities and indulged in their own excesses. Capitalism is like an energetic child who needs boundaries and discipline. If a toddler accidentally sets his home on fire, it is the parents who bear the blame. “Capitalism in crisis” could easily be subtitled “government in crisis”.
Politico
By now, every literate American is probably familiar with former Massachusetts Gov. Mitt Romney’s 14 percent federal tax rate, the result of most of his income coming via capital gains.
New York Times
With little fanfare, a dangerous notion has taken hold in progressive policy circles: that the amount of money borrowed by the federal government from Americans to finance its mammoth deficits doesn’t matter.
Financial Times
Lest we needed another reminder, Thursday’s announcement that the Italian automaker Fiat had achieved the final performance target in its alliance with Chrysler underscored once more the remarkable success of the rescue of the American automobile industry.
Financial Times
Here is what I want Santa to bring me: straight talk from political leaders about the true nature of America’s economic problems, and some solutions for dealing with them. So far, my Christmas stocking is empty.
New York Times
HARDLY a day goes by without news of yet another economic problem facing China. A frothy real estate market. Quickly rising wages. A weakening manufacturing sector. Tightening lending standards. The list can seem endless and frightening.
But after a recent visit to China, I remain staunchly optimistic that it will continue to be the world’s greatest machine for economic expansion.
