The process of balance-sheet repair – while not completed yet – is underway

Stress tests were not stressful enough. The Eurozone now has to fight for survival

Damned if you do, damned if you don’t: the problems facing governments’ fiscal stimuli are numerous

While the US recently reported 3.5 percent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression is over, the American economy is actually much weaker than official data suggest

As the irrational exuberance that seemed to infiltrate consumerdom earlier on this year, there’s a feeling that once again world markets are sliding into a deep and lasting recession. So what of employment?

The recent turmoil in global financial markets – and the liquidity and credit crunch that followed – raises two questions: how did defaulting sub-prime mortgages in California, Nevada, Arizona, and Florida lead to a worldwide crisis? And why did systemic risk increase rather than decrease in recent years?

Will rising global inflation lead to a sharp global economic slowdown? Even worse, will it revive stagflation, that deadly combination of rising inflation and negative growth?