George W. Bush and Democracy
January 19, 2009
As last-minute preparations are made for inaugurating a new U.S. president tomorrow, analysts are closing the book on the eight-year presidency of George W. Bush. The Economist and today’s Financial Times each have rather critical retrospectives. The 43rd president is faulted for being overly partisan and ideological, over-simplistic, deciding by impulse (or on perceived principle […] More
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Rate Cuts Today in Hungary, the United Arab Emirates, and Saudi Arabia
January 19, 2009
Magyar Nemzeti Bank became today’s third central bank to reduce its benchmark rate by 50 basis points. Hungary joins several other countries with falling interest rates despite vulnerable currencies. The UAE central bank cut its repo rate by a third to 1.0% from 1.5% and issued a statement citing struggling banks and the need to […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: European Stocks Rallying
January 19, 2009
The German Dax, British Ftse, and Paris Cac are trading 1.6%, 1.7%, and 1.4% higher. Asian bourses closed mixed earlier, with stocks dwon by 1.4% in the Philippines, 1.0% in Indonesia, and 0.7% in Malaysia but up 1.4% in South Korea, 1.0% in Singapore, 1.1% in China, and 0.3% in Japan. Australian shares rose 1.1%. […] More
