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Peter Morici

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The West Should Unite to Crush ISIS

Terrorist attacks in Paris plainly illustrate U.S. and European efforts to thwart terrorism have failed, and a western ground force will be necessary to defeat ISIS.


The Terrible Cost of Demagoguery

President Obama’s justification for nixing the Keystone Pipeline was yet another example of Oval Office demagoguery—a destructive impulse also rampant among those vying to succeed him.


Troubles at Wal-Mart, IBM and the New American Century

With Wal-Mart sales and profits falling, pundits are asking if the economy is again headed down. Hardly, like IBM and other business icons in trouble, the Arkansas retailer is simply being squeezed by better competitors—and mostly Americans—who herald a new age of American innovation.


Putin’s Airstrikes in Syria Undermine NATO, Destabilize Middle East

President Putin’s decision to deploy aircraft in Syria and bomb opponents of President Assad may be “a recipe for disaster” as President Obama asserts, but it neatly exploits U.S. and western European vulnerabilities in the region. It also gives Russia leverage to undermine NATO and destabilize the oil-rich Middle East.

Migration Crisis

Refugee Crisis Lays Bare EU Dysfunctions, Cultural Silos

The millions of refugees pouring into Europe should prove a boon to its slow growing economies. However, with unemployment so high in austerity burdened Mediterranean states, German eagerness to fill jobs with Syrians and other refugees is an indictment of the EU’s dysfunctional economy and cultural rigidities.

AP Photo/Alex Brandon

Five Things to Know About the Fed Raising Interest Rates

Since 2008, the Federal Reserve has kept the federal funds rate—the banks’ overnight borrowing rate—near zero. Now more confident about prospects for growth and inflation, policymakers are preparing to raise those short-term rates—perhaps at the conclusion of their two day meeting on Thursday or later this year.


China’s Turmoil Good News for U.S. Economy and Stocks

U.S. stocks have endured a lot of turmoil but recent shocks have made apparent important facts about China and the shifting global economy long ignored by many analysts and investors. Those bode well for America and the bull market should soon resume.

AP Photo

Quicker Growth Not Improving Jobs Outlook

The Labor Department reported the economy added 215,000 jobs in July. That’s well below the 260,000 monthly additions posted in 2014, and new employment opportunities and wage gains will continue depressed for the balance of this year and next.


In the End, Germany, not Greece, Will Be the Loser

Germany is using its size and wealth to compel its Eurozone partners to take a hard line toward Greece, but in the end, Germany has much to lose by forcing the Aegean nation to choose between more austerity and dumping the euro.


The Sooner Greece Defaults and Dumps the Euro the Better

Greece and its principal creditors—the European Union, European Central Bank and International Monetary Fund—should acknowledge that Athens will never be able to repay the €131 billion it owes, write down its debt and let the Aegean nation exit the euro gracefully.