German Chancellor Angela Merkel Merkel pushed to get the German parliament to approve last month's nearly $1 trillion bailout for Greece. Some economists argue that it would have been cheaper to let Greece default and then bailout European bank bondholders.
The Dow Jones Industrial Average closed Friday at 9931, below the symbolically important 10000 mark. It has slid in five of the past six weeks. Debt in Europe and tepid US job market are triggers.
Leaders of developed economies now come from a professional ruling class whose survival depends on delivering the fantasy that we can live beyond our means.
Because the euro will probably depreciate as a result of fiscal austerity, the effect on inflation in countries tightening fiscal policy will be uncertain.
US institutions of higher learning are adapting aspects of "Tuning," a European program to give college degrees more job market relevance.
Our enemies no longer need to win a war, or even a battle, to bring the nation to its knees.
A Christian Science perspective.