Tag Archive for Economist

Why is The Economist Chortling over the Prospect of Oil Pollution in Ecuador? Bill Black

The Economist has increasingly been copying the descent of the Wall Street Journal into dogma. One of it perennial hates is President Rafael Correa of Ecuador. Correa, an economist, has committed the unforgivable offense of succeeding through economic policies that The Economist despises. This is passing strange because Correa’s four foundational policies are expanded health care, expanded education, improved infrastructure, and encouraging entrepreneurs by reducing the time and cost of starting a business in Ecuador. The Economists’ pages are littered with praise for right-wing governmental leaders and candidates who promise that they will implement those same four policies (but rarely do in practice). Correa has actually delivered on his promises – quickly – and the improvements in the economy of Ecuador and the lives of ordinary citizens have been huge. The result is that Correa is the second most popular head of state in the Americas.

Italy’s modern-day conqueror falters under weight of eurozone crisis – Full story

Italy's modern-day conqueror falters under weight of eurozone crisis (via The Christian Science Monitor) Things are not going well for Italian President Mario Monti. The elegant economist’s entry into politics in November, to replace disgraced former President Silvio Berlusconi, was at first greeted with great enthusiasm. Some even likened him to Lucius Quinctius Cincinnatus, an Italian…

Consumer Sentiment Stinks – WSJ

The Thomson Reuters/University of Michigan consumer sentiment index fell sharply to 74.1 in early June from its final-May reading of 79.3 and an early-May reading of 77.8, according to an economist who has seen the report. The end-May index was the highest sentiment level since October 2007. The drop in early June may reflect consumers…

Businessweek’s “How Europe’s Contagion May Hit the U.S. Economy” Ignores its Benefits to US Economy

Businessweek argues that the European crisis is hurting the US economy. It ignores ignores the fact that European capital flight is driving US interest rates through the floor, and more importantly, directly funding US government deficit spending. Even a small reduction in that spending would result in a stall in the US economy. The US…