Europe is 50, But not Middle Aged

It is 50-years this week that six countries, France, West Germany, Italy, Netherlands, Belgium and Luxembourg signed the Treaty of Rome and founded the European Economic Community. And so began in earnest the process that has culminated in the creation of the European Union and a shared currency for 15 of the members. Just because it is 50, though doesn’t make it middle aged, which would imply some termination point.

Q2: Make it or Break it

As the first quarter wound down, one of the key features for policy makers and investors has been an increase in uncertainty. Much of the uncertainty may be resolved in the period ahead. In many ways, what happens in the second quarter may very well set the tone for the remainder of the year.

The Balance of Imbalances

There have been numerous Cassandra-like calls warning that global imbalances pose the largest risk to the world economy. Some observers will even place these imbalances at the heart of their explanation for the spasms in the market. There are only two problems with this view: the theory and the facts.

Jack Bauer, Risk-Aversity, and the Dollar

A common cultural theme, found even in the Bible, is the complicated relationship between fathers and sons. Star Wars, which pits Luke Skywalker against Darthvader, who, in a later episode, we learn is Luke’s father, celebrates its 30th anniversary this year. It was an exciting, even if not new, twist that many boys, of various ages also found liberating. One of the most popular television shows in recent years is “24”.