In a New York Times op-ed, billionaire investor Warren Buffett expressed gratitude for the U.S.'s swift action: "In this extraordinary emergency, you came through -- and the world would look far different now if you had not."
A massive loss of confidence in the foundations of property rights and rule of law has occurred. And this loss is having a devastating impact on the housing market.
The Federal Reserve chief warned Monday that the government must figure out how to shrink huge budget deficits, which now pose a "real and growing" threat to the U.S. economy.
Despite the pessimistic taking hold, a growing roster of high-profile money managers are balking at at this theme, arguing that it's wrong-headed and self-defeating. Plus, good money can still be made in the markets.
Lower prices may sound nice, but deflation can wreck an economy with pay cuts, lower profits and falling stock prices.
International bankers are hammering out the Basel III agreement, which will require banks to keep more capital in reserve relative to what they invest. It's a good idea, and one that would cushion the financial system from the next bust -- if the rules weren't being pushed so far into the future.
In a new article, political scientist Ian Bremmer and economist Nouriel Roubini assert that the free-market system of capitalism has been so damaged by the recent financial crisis that the West's era of political and economic dominance may be gone for good.
What will the stimulus really cost? The Congressional Budget Office estimates $814 billion. That's less than the office's estimate of $862 billion in January, but more than the original estimate of $787 billion.
Shoveling trillions of dollars into banks hasn't boosted either spending or lending. What if the federal government stopped trying to revive the economy by encouraging borrowing -- and instead dropped money straight into your bank account?
Enron, a musical hit about the Texas energy company's dizzying rise and fall, is coming to Broadway. The story of high finance and fraud unfolded nine years ago, but in an economy still reeling from the Lehman Brothers collapse, it's lessons are more relevant -- and funnier -- than ever.
Many high-profile U.S. lawmakers and economists stridently advocate trade sanctions to pressure China into raising the value of the yuan. But such threats would likely only backfire -- with extremely dangerous fallout.
During his address Wednesday night, look for President Obama to focus on solutions for problem No. 1: The lack of jobs. Employment growth will determine not just the economy's fate, but also that of the Democratic majorities in Congress -- and possibly of Obama's presidency.
Since the depths of the downturn when President Obama took office in January, the "Cohan Economic Index" has risen from 100 to 113. What exactly does this index track, and how is it that it rose smartly? Let me explain.
