The Consummation of the Consumer Society

April 01, 2020

The shock to Western civilization produced by the novel coronavirus that causes the COVID-19 disease is only beginning to register. Most commentators have focused on the political and economic dimension of a historical moment unlike any other, in which entire nations across the globe have moved...

How to Kill People to Save an Outmoded Idea of the Economy

March 26, 2020

US President Donald Trump will go down in history as the ultimate master of hyperreal politics. No matter how far he deviates from reality, the American public consistently expresses its approval. The further he wanders from rationality, even when the consequences are measurable in the number of...

The COVID-19 Crisis Will Change Policymaking and Business

March 23, 2020

Last week, I looked at some real economy and financial channels that the coronavirus pandemic has disrupted across the world. A global recession is now a foregone conclusion, and it will have emanated from the harsh impact on the economy. On the one hand is the supply side, with production...

Don’t Worry! Goldman Sachs Is Monitoring the Markets

March 19, 2020

Goldman Sachs has every reason to reassure its clients in the face of a crisis that nobody but its economists are capable of understanding. They are the world-renowned experts and the guides of those who have money to invest. Goldman Sachs’ track record speaks for itself. Nobody is closer to...

COVID-19 Outbreak Takes the Recession Debate to Brand New Territory

March 19, 2020

*Author’s note: This article was written on March 13, 2020. Some issues and data may have changed since then. I am writing this column in a state of a latent denial. Having worked from home for much of the past week, I’ve been trying to juggle work duties with kid’s entertainment as...

Stock Shock: What Lies Ahead for Global Markets?

March 14, 2020

Uncertainties continue to multiply over the coronavirus outbreak. US investors saw stock values plunge nearly 20% in the past three weeks. Cases of COVID-19, the new coronavirus, are proliferating outside China. To add to the bedlam, during last weekend a price war broke out between...

The World This Week: Global Economy in Trouble as Markets Tumble

January 24, 2016

The sharp fall in markets worldwide indicate that rising prices induced by the munificence of central banks can no longer keep going up. On January 20, markets tumbled from Tokyo and Dubai to London and New York. Three concerns torment investors. First, the slowing Chinese economy terrifies...

The World This Week: End of an Era as the Fed Raises Rates

December 19, 2015

The Fed’s historic decision to raise rates will benefit savers, strengthen the dollar and increase volatility, as well as possibly reduce asset prices and inequality. On December 16, the Federal Open Market Committee of the US Federal Reserve (Fed) “decided to raise the target range for the...