Albert Einstein is reported to have said that insanity consists of doing the same thing over and over again and expecting different results. By those standards, the deal with Greece that is about to be agreed looks insane. The only justification, as I argued in a column on May 10, is that it is needed to play for time. This is a bad strategy. Something more radical is required, according to the FT.
It's been a long, hot recession and many of us are tempted now that we're seeing some signs of recovery to say, "Take this job and shove it!" Before you do, read these tips to help you master the art of quitting.
Today is Day 2 of the New York Forum. Closing Bell was live from the pow wow in NYC’s Grand Hyatt Hotel on Monday. Richard Attias, founder of the New York Forum said that the DNA of the forum is about “finding solutions.” One key topic discussed was “jobs, jobs, jobs.” The big question is “if the policy makers and the private sector will build a private partnership to implement this solution,” said Attias.
There seems to be no limit to policy uncertainties, ranging from Europe’s stuttering response to its debt crisis, to questions about the end of QE2 in the US, the debt ceiling debate, and that still-elusive balance between medium-term fiscal reform and immediate stimulus to counter a weakening economy.
Monetary policy has been "the great enabler" that central banks used to keep interest rates at "absurdly low levels for years now" and this has encouraged politicians to believe that sovereign debt is "a lot cheaper than it really is," David Stockman, former director of the Office of Management and Budget, told CNBC Tuesday.
A mismatch in the US labour market between the skills of unemployed people and the jobs available is making it hard for some companies to find the right staff despite an unemployment rate of more than 9 percent, one of the country’s largest manufacturing employers has warned, the Financial Times reports.
When it comes to measuring the combination of unemployment and inflation, it doesn’t get much more miserable than this. In fact, misery, as measured in the unofficial Misery Index that simply totals the unemployment and inflation rates, is at a 28-year high, reflective of how weak the economic recovery has been and how far there is to go.
The House Oversight Committee wants to know if the National Labor Relations Board overstepped its authority and is stifling American competitiveness, Chairman Rep. Darrell Issa told CNBC Friday.
The nation’s space agency has budgeted more than half a billion dollars to cover retirement funds due to thousands of workers at a long-term shuttle contractor.
The problems facing US healthcare have not yet been fully resolved, according to the chief executive of AstraZeneca.
We have noted in the past how an inability to apply objective analytical thought is a recurring theme in history, usually condemning the unfortunate subject to failure. The weight of history is on us once again, with the slowly changing status of the US dollar as the world’s de facto reserve currency, writes Moorad Choudhry.
On Thursday morning, French youth who took the test were asked “Is equality a threat to liberty?”, “Can one be right despite the facts?” or even “Is art any less necessary than science?”
Citigroup’s attempts to sell OneMain Financial, the largest US consumer finance company, have stumbled over concerns among potential bidders about its funding as a standalone business, reports the FT.
Markets took a tumble on Thursday on fresh worries about the Greek debt crisis and European policy makers were urged to come up with a credible plan to restructure the country's debt.
US Treasurys may not be such a good bet for investors as yields have dropped too low and questions remain on whether the Federal Reserve will continue to print money after its current round of quantitative easing ends, analysts told CNBC.
Worries about the economy pose a serious threat to President Obama’s re-election chances, according to a new NBC News/Wall Street Journal poll.
The inflation data for May is up .2 percent and CPI is up .3 percent. Insight on what this means for the markets, with Jerry Webman, Oppenheimer Funds; Byron Wien, Blackstone; CNBC's Rick Santelli & Steve Liesman.
Consumer spending has weakened. Hiring has slowed. Stocks have slid. As tends to be the case in the long aftermath of a financial crisis, the economy once again needs help. And the debt talks have become the best opportunity for Washington to provide that help, the New York Times reports.
The commodities bubble is not set to burst, and any easing off of copper prices will be temporary, Stephen Twyerould, CEO of Excelsior Mining told CNBC.
It appears that 52 economists have urged the UK government to abandon the public spending cuts associated with its “Plan A” and move to a Plan B, which would involve halting the cuts and…not much else, it would seem, writes Moorad Choudhry.