The year was 1630. A fleet of ships carrying about 900 Puritans from England sailed across the Atlantic. In every sense, it was a journey away from the Old World to the New. Aboard the flagship, the Arbella, leading Puritan John Winthrop delivered a lay
With Janet Yellen firmly in the reigns of the world’s largest central bank, many are looking to the legacy left by her predecessor Ben Bernanke. Love or loathe him, Bernanke undoubtedly pioneered a new style of central banking based on large scale direct market intervention, mainly through policies such as quantitative easing. With the policy now being scaled down, it is useful to ask whether QE and more broadly whether the Federal Reserve has been successful in supporting the US recovery.
What a joke.
Really, there isn’t anything else that can be said about the latest fiscal crisis in the United States. With the federal government shutting down most operations on the 1st of October, as the House of Representatives (controlled by the Republicans) and the Senate (controlled by the Democrats) couldn’t agree on a Continuing Resolution for the 2014 fiscal year.
Christopher Weinberg sheds light on the worrying plight for American politics, set in motion by the clashes between Democrats and Republicans. Whether the role President Barack Obama has in achieving bipartisan consensus is an achievable one is certainly something that Weinberg causes one to call into question.
Last year on December 26th, Shinzo Abe assumed office as Japan’s current Prime Minister and immediately began fulfilling his electoral campaign promises of bringing sweeping economic reform and output growth to the world’s third largest economy. After suffering decades of lacklustre output and many failed attempts to induce growth, Abe’s policies, both currently implemented and in the pipeline, are the biggest things to hit Japan since Godzilla itself.