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Success Breeds Failure

NY Times, by Paul Krugman - Cross your fingers, knock on wood: it’s possible, though by no means certain, that the worst of the financial crisis is over. That’s the good news. The bad news is that as markets stabilize, chances for fundamental financial reform may be slipping away. As a result, the next crisis will probably be worse than this one.

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Our terrorising political failure

Hindustan Times - Terror sells in the electoral marketplace. It is valuable coin for any political formation which benefits from public insecurity, whose electoral promise is to make your life safer. Which is why we should take policymaking on terror out of the absolute control of the political puppet masters and allow [...]

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Detroit Shock Doctrine

Nation - Bloomberg reports that a General Motors failure would cost the federal government $200 billion. And the Center for Automotive Research concludes that if the Big Three fail, it will mean the loss of 3 million jobs in the first year of collapse.

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Paul Krugman: The lame-duck economy

IHT - How much can go wrong in the two months before Obama takes the oath of office? The answer, unfortunately, is: A lot. Consider how much darker the economic picture has grown since the failure of Lehman Brothers, which took place just over two months ago. And the pace of deterioration seems to [...]

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