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Peter Morici

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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.


Supreme Court Should Strike Down Obamacare Subsidies for Legal and Economic Reasons

The Supreme Court ruling on King v. Burwell will soon decide whether the Affordable Care Act permits the federal government to subsidize health insurance premiums. Those should be struck down for both legal and economic reasons—and in simple fairness to most Americans who have found it makes no economic sense to buy health insurance through federal and state exchanges.

AP Photo/Paul Sakuma

Strong Dollar, Skills Shortage to Slow Jobs Growth

Shaking off a severe winter and West Coast port strike, the Labor Department is expected to report the economy added 220,000 jobs in May. That’s well below the 269,000 monthly average for 2104, and a strong dollar, revived productivity growth and shortage of qualified workers will slow jobs creation going forward.

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