Dr. Michael Ivanovitch is an independent analyst focusing on world economy, geopolitics and investment strategy. He served as a senior economist at the OECD in Paris, international economist at the Federal Reserve Bank of New York and taught economics at Columbia Business School.
Follow him on Twitter: @msiglobal9
Japan's aggressive monetary easing is reminiscent of Einstein's quip about doing the same thing over and over again and expecting a different result.
Economic stimulus should be executed without creating excessive trade deficits and increasing the U.S.'s large net foreign liabilities.
Greece and ungovernable Spain, struggling with jobless rates of 23.5 percent and 20 percent, respectively, are saying enough is enough.
It seems that the G-20 has become a yet another unnecessary, ineffective and very expensive, taxpayer-funded, talking shop.
The Fed's Jackson Hole message was entirely reasonable in the absence of any indication of economic measures of America's next administration.
Statements by Fed officials about the timing of next policy moves are part of the holding pattern until presidential elections on November 8.
The European Central Bank's stimulus is eliciting widely different responses across the euro zone.
It's difficult to be optimistic about improving trade and diplomatic relations when it comes to the three feuding Northeast Asian neighbors.
Data tell us that American companies don't see any compelling reason to expand their factory floors, or to add new capital goods,
Security threats hanging over Europe are another instance where the Fed and the ECB have to deploy policy instruments in the months ahead.