FROM Rana Foroohar
The Paradox of Rising Indicators in a Troubled Economy In 2009, the Dow Jones Industrial Average bottomed out at 6,500. Since then, it's more than doubled, with another record closing last week at 15,354. Standard & Poor's and other market indexes are also setting records and housing construction is showing signs of a restoration. But eight million people are still out of work, and a smaller percentage of people own homes than a decade ago. Is it time to feel good again about the economy or not? Are we in for increased prosperity or bursting bubbles? We get a reality check.
Can a Divided Europe Save Its Common Currency? America's economic future will depend in part on what happens in Europe, so the crisis over the Euro demands our attention. The Eurozone is divided between prosperous countries like France -- and especially Germany — and debtor nations, including Greece, and now Italy. The strong are needed to bail out the weak, but so far there's not enough trust for the strong to provide big money or the weak to accept austerity. Can un-elected European technocrats, trained on Wall Street, overcome the politics of independent nations? Why is it all so important to the United States?
No Economic Downturn in China Two things most Americans associate with China are astonishing economic growth and mind-boggling pollution. But growth also means stock-market and real-estate bubbles, a shrinking private sector and a restive working class. Now China’s trying to go green at the same time it builds coal plants and imports oil.
In China, the Recession Is Over — or Is It? With a massive government stimulus that's fueled a frenzy of building, China's economy grew by 8.9% in the third quarter, compared to the United States' 3.2%. But growth also means stock-market and real-estate bubbles, a shrinking private sector and a restive working class. Emphasis on manufacturing has created world-class pollution, and now China's trying to go green at the same time it builds coal plants and imports oil. Does China, holding 23% of America's debt, threaten this country's interests? Will global problems force the US and China to be partners as well as competitors?
Rising Oil Prices, Changing Lifestyles and Consumer Choices The spiraling cost of gas is hitting hard everywhere. Truckers and fishermen in Europe are protesting prices that have reached $10 a gallon. As hearings were held in the US Senate today about whether oil prices are being manipulated by speculators, General Motors announced that it is closing four SUV and pick-up plants, along with plans to roll out more fuel efficient vehicles. What kind of long-term changes are in store? Have Americans reached the tipping point in terms of their consumer lifestyle? Will suburbs be forced to transform into small towns?
Future of the Palestinians as Trump welcomes Abbas President Trump says there's "no reason there can't be peace" between Israel and the Palestinians… but the first step will have to be unity between the West Bank and Gaza. Are the Palestinian Authority and Hamas any closer to speaking with one voice?
Trump, the GOP and the rule of law Conservatives — and some Republicans — are criticizing the President for "the mess he made" in firing FBI Director James Comey. We hear about a potential successor, the possibility of "obstruction of justice" and the constitutional separation of powers.
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.