MSI

The most difficult problems facing the U.S. economy are physical constraints to the noninflationary growth of its demand, output and employment. Those physical constraints are the stock and quality of human and (physical) capital. They are also called factors of production which determine the bounda...

After massive U.S. hedge funds bets on China’s assets, the celebration of the Chinese Spring Festival – the Lunar New Year – moved uptown last Friday to the 86th Floor Observatory of the Empire State Building, with lanterns, blossoms, floral urns and traditional Chinese treats. A far cry from ...

Sharply declining real disposable personal incomes and rising credit costs are driving the trans-Atlantic community – an estimated 42% of the global GDP – into a growth recession. Decades of an excessively fast credit creation and the recent flareup of energy and food prices have led to an accel...

For the United States, incendiary encounters of American and Chinese naval assets in the South China Sea are “freedom of navigation operations” in international waters, but for Beijing they are unacceptable violations of its sovereignty and territorial integrity. Diplomacy has failed to resolve ...

Sporting bomber jackets and a raised glass of American beer, the newly elected Bill Clinton was hosting Japan’s young Prime Minister Morihiro Hosokawa, with a dire warning that Tokyo’s systematic and excessive trade surpluses on U.S. trades would not be tolerated – unless those surpluses were ...

Last Thursday, the European monetary authority raised its key lending rate by 50 basis points to 2.75% in a belated effort to tame an energy-driven inflation rate of 10%. Further rate hikes were also announced to nearly halve the inflation next year, and then bring it close to its medium-term target...

Estimates based on the most recent data indicate that the growth of American and E.U. economies (41% of global GDP) will slow down from 1.9% this year to a sharp decline and a slow recovery in the next two years. That’s all one can say now because the trans-Atlantic recession is driven by energy a...

The world is now staggering through a growing confrontation of nuclear-armed sworn enemies. The humanity’s survival is in the hands of military officials working their emergency communication channels to prevent fatal errors and miscalculations. None of the main actors is backing down or calling f...

The U.S.-led and underwritten crusade for a “rules-based international order” has been founded on the idea that the rest of the world would finance the venture by investing its savings in American debt instruments. That “deal” has produced a dollar-dominated world economy where the U.S. owed...

That’s how the leaders of a ten-country Southeast Asian Association (ASEAN) defined their development objectives during last week’s summit in Phnom Penh, Cambodia. And then, India’s Prime Minister Narendra Modi inaugurated last Tuesday his country’s 2023 G20 presidency with an appeal for uni...