FROM Brad Setser
What's Next for International Capitalism? President Obama and Britain's Prime Minister Brown today renewed “ the special relationship .” But will they get the cooperation they want from the rest of the world? We get a preview of the G-20 summit and the likelihood of resolving the global financial crisis.
What's Next for International Capitalism? Barack Obama met Queen Elizabeth today, as protests turned violent on the streets of London. The leaders of 20 countries are preparing to meet on the global financial meltdown, and the eyes of the world are on the new President of the United States. Obama and Britain's Prime Minister Gordon Brown are calling for unified action , but France and Germany, Eastern Europe and the nations of Asia all have their own ideas. Can they agree on the need for economic stimulus, increased regulation or more money for the International Monetary Fund ? Can Obama lead the way out of a crisis that started here and infected the rest of the world?
The Global Consequences of America's Financial Crisis The Wall Street rescue failed in the House. Now the Senate will take up a similar bill tonight, with support from John McCain , Barack Obama and Joe Biden . Some advocates are saying the pros and cons of specific provisions are not what matters. The real issue is restoration of confidence in the financial system. Meantime, banks are in trouble in Britain, France, Belgium, the Netherlands—Ireland and Iceland, and leaders are saying the US has a special responsibility to act and act now. Would foreign banks get part of the bailout money? What about countries which buy American debt, including Russia and China? Is America's financial leadership what's really at stake?
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
Should we 'hack the climate' to fight global warming? The Paris Agreements won't be enough to reverse global warming, whether President Trump pulls the US out or not. Is it time to try altering the atmosphere by what's called "geoengineering?" We hear about unintended consequences, international relations… and ethics.
Concern deepens amid Trump's controversies President Trump delivered today's commencement speech to the Coast Guard Academy in Connecticut. As he praised the accomplishments of the graduates, he listed some of his own… and made reference to reports that he leaked intelligence to the Russians and tried to shut down an FBI Investigation into his associates.