A Leading Indicator: The Good Side of Traffic Congestion

There might be a good news side to traffic congestion. After all, roads get busier when mall visits increase. Rush hour gets worse when extra people commute. And don’t more package deliveries from UPS, FedEx and the USPS clog up…

Aspirin for the Euro Zone?

Tomorrow is Euro Day and it reminds me of aspirin. On May 9, 62 years ago, the French foreign minister proposed a limited economic partnership with West Germany. By the time the treaty was signed in 1951, the Netherlands, Luxembourg, Belgium…

The First Credit Default Swap

Some of the euro zone’s problems actually started with the Exxon Valdez oil spill. After the 1989 Exxon Valdez calamity, when an Alaska jury said that Exxon owed $5 billion in damages, they asked J.P. Morgan for a $4.8 billion…

The PIIG’s Progress

Almost everyone seems to be debating the same issues. Spend less, tax more, or both? Now perhaps Portugal has made some progress. Hoping to bring its budget deficit down to 4.6% of GDP in 2011, their VAT will ascend to…