Both corporate and public pensions remain short of having enough money to pay out what they've promised, despite recent asset increases.» Read More
My colleagueJohn Carney is half right in his opinion piece about Libya —and where he is wrong he is wrong for the best of reasons.
Carney has taken the position that a US enforced no-fly zone in Libya should be avoided in favor of offering Qaddafi the carrot of amnesty in exchange for his immediate departure from the country.
Here is the backbone of his anti-no-fly zone argument:
Now that senior senators from both the Republican and Democratic parties are putting pressure on the Obama administration to put a “no-fly zone” in place over Libya, it’s incumbent that skeptics of this kind of belligerence speak out.
Last summer, Barack Obama promised a new education program that would produce 8 million more college graduates by 2020.
Few people at the time raised the obvious question: do we really need an additional 8 million college graduates? Where’s the evidence for a coming shortage of college educated workers?
Despite almost universal recognition that the failures of the credit ratings agencies to perceive and disclose the risk in asset-backed securities played a pivotal role in setting the stage for the financial crisis, they’re still an integral—and legally mandatory—part of our financial system.
They’re so influential, in fact, that they can effectively veto efforts to regulate them.
Recently the ratings agencies exercised their veto power over attempts to subject them to liability for faulty ratings.
Parties, presents, cake—these are the things that come to mind when most people think about birthdays. You don’t typically think of famine, disease, or oppression. But I would argue that it’s when we’re at our luckiest—one year older, one year wiser—that we should be thinking of those who aren’t so lucky.
There are second acts in American life—and when former Guns N' Roses bassist Duff McKagan's pancreas exploded from years of drug and alcohol abuse in the mid-nineties it seemed like a good time to find one
"Moody's Downgrades Greek Sovereign Debt by 3 Notches"[CNBC.com via Reuters]
Then...Greece Lashes Out at Moody's [Hellenic Republic Ministry of Finance]
Barclays Chief Awarded $11 Million Bonus [Bloomberg]
"Ex-Lehman banker made number three at Nomura" [Financial Times]
The escalation in fighting in Libya is increasing fears of a civil war and with signs of political unrest spreading throughout the Middle East and North African nations the price of crude continues to climb.
Many wonder when the tipping point will be reached and the economic growth across the world is impacted. I asked Chris Lafakis, the energy and financial markets economist at Moody's Analytics about this latest surge and what it means to the U.S. Economy.