22nd May 2012
As the backlash against German-led austerity continues, historian Victor Davis Hanson points out that anytime Germany has been both unified and isolated, armed conflict has followed. So "I would not keep poking the Germans unless you are able to deal with them when they wake up." National Review Online
"The financial re-engineering of Europe is a prerequisite for the euro to survive. Greece is bringing forward that moment of truth. And yet politicians, particularly in Germany, have still to accept the logic, let alone explain it." The Economist
Given the strong political connections between JPMorgan Chase and the Obama administration, Simon Johnson calls for an independent investigation into what happened at the bank. Furthermore, he presents five questions that such an investigation should consider. Economix
Even though many pundits have raised the question about whether China is poised to overtake the US and become the world's next superpower, Robert Skidelsky says the more sensible question, is not whether China will replace the US, but whether it will start to acquire some of the attributes of a world power. Project Syndicate
"Central bankers were much too arrogant and claimed much too much credit and much too much impact in the good years. Trying to be honest with people about policy limitations while not sounding like you're resigned has been hard." Real Time Economics
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