David Cameron may lament Britain’s “slow motion moral collapse” that led to England’s worst rioting in decades. He may talk about “broken Britain” in his speeches and refer to a “culture in which people and parents increasingly don’t take responsibility… Continue Reading →

Broadwater Farm was built in the late 1960’s as a high density housing project in the Totenham District of London. It was supposed to be an experiment providing 1063 apartments for low-income residents. But it became the center of riots… Continue Reading →

First there was Greece. That occupied the Euro Zone last year in 2010 and early this year. Nothing else seemed to be going on, and Greece was a Balkan country. You couldn’t expect much from one. Then it became all… Continue Reading →

The pigs: Ireland, Greece, Portugal, and Spain have been struggling for months to adopt the austerity measures demanded by their northern neighbors: Germany, the Netherlands, and Finland, some say France. But now Italy has joined the crew. Berlusconi has announced… Continue Reading →

No wonder Germany yearns for a return to the D-mark! Only Germany had control over it. Now sixteen other countries can make decisions about the common currency that Germany cannot control. Nations such as Greece can choose to outright abuse… Continue Reading →

The United States may have lost its AAA credit rating this week. But everybody’s watching France instead. If they lose theirs, the ripples will be far bigger. The Euro Zone is brand new. Anything could shake it apart. Everybody’s looking… Continue Reading →

The editorial in the Wall Street Journal, “Bring Back The D-Mark” by Holman W Jenkins, Jr., suggests that the “euro was a noble idea” for two reasons. It would help poor countries and elevate them. And it would solve what… Continue Reading →

Wolfgang Schauble was not impressed yesterday when Jean Claude Trichet achieved his minor little vindication for his bond buying policy, buying between 3 and a half to 5 billion euros worth. The ECB bought ten-year Italian and Spanish bonds. Italian… Continue Reading →

The board of the ECB divided along a mostly North/South line about whether to buy Italian and Spanish bonds. Up to now bond buying programs were to be left to individual member states. Germany still thinks that they should be…. Continue Reading →

By the end of last week it looked as if a new world-wide financial crisis was being fueled by the Greek debt crisis contagion that had finally spread to Italy. The Italian bonds were trading at their highest level ever… Continue Reading →