||Last Updated: Oct 9, 2015 - 12:32 AM
Dr Peter Morici: Democrats rejoiced that unemployment fell to 8.3% and 247,000 new jobs were added in January, confirming to them President Obama will take them to victory in November.
Feb 7, 2012 - 7:38 AM
Dr Peter Morici: Friday, forecasters expect the US Labor Department to report the economy added 135,000 jobs in December, after gaining 200,000 in December. In 2012, weaker jobs gains are likely as consumer spending and economic activity slow.
Feb 2, 2012 - 6:09 AM
Dr Peter Morici: Standard & Poor’s was correct to downgrade the credit ratings of France and seven other Eurozone governments, but wrong to affirm Germany’s AAA status. The euro will inevitably collapse and chaos will follow, endangering even the strongest governments.
Jan 17, 2012 - 8:24 AM
Dr. Peter Morici: Euro is a cruel hoax on Mediterranean nations; Federal Reserve assistance to shore up Europe’s sagging banks may be good geo-politics but it is bad economics. Only abandoning the euro, not printing money and Teutonic austerity, will fix Europe’s banks and economies.
Dec 2, 2011 - 4:14 AM
Peter Morici: Friday, forecasters expect the Labor Department to report the economy added only 120,000 jobs in November, after scoring a nonplus 80,000 gain in October. The three month moving average stands at 120,000 jobs, a pace inadequate to much lower unemployment.
Dec 1, 2011 - 5:44 AM
Dr Peter Morici: The Super Committee’s failure to compromise on $1.2trn in budget savings won’t much affect the deficit and US credit ratings—or the interest rates and prices of US Treasuries. Still investors should limit holdings of those securities—the long term outlook is not good.
Nov 28, 2011 - 3:55 AM
Dr Peter Morici: Occupy Wall Street may be out of Zuccotti Park but Americans ignore its message only at their peril.
Nov 22, 2011 - 5:29 AM
Dr. Peter Morici: America’s finances are headed for a train wreck. By November 23, the Super Committee in Congress must come up with a package to cut the federal deficit by $1.2trn over ten years or draconian cuts in defense and discretionary spending follow.
Nov 18, 2011 - 5:37 AM
Dr Peter Morici: It’s the economy stupid - - maybe not. President Obama with the help of Congressional allies has turned the key issues to his advantage.
Nov 17, 2011 - 2:34 AM
There is an increasing clamour from Irish universities and the rest of the third level sector for an reintroduction of undergraduate fees as demand for places continues to rise. However, the universities have been as cavalier with public funds as the rest of the public sector.
Nov 15, 2011 - 8:23 AM
Dr. Peter Morici: The scandal at Penn State is more than a stain on a storied college football program and patriarchic coach. It is an indictment against universities who continue the pretense that big time sports support their academic mission.
Nov 15, 2011 - 3:46 AM
Dr Peter Morici: Thursday, the Commerce Department is expected to report the deficit on international trade in goods and services was $46.3bn in September. This trade deficit is the most significant barrier to jobs creation and growth in the US economy - - even more formidable than the federal budget deficit, because its effects are more immediate.
Nov 10, 2011 - 1:47 AM
Dr. Peter Morici: Whether the Joint Select Committee on Budget Reduction reaches a deal to reduce the US federal deficit by at least $1.2trn or stalemates on November 23, Democrats appear intent on handicapping the national economy with higher taxes and imperiling national security by cutting defense. Those are the wrong places to solve the nation’s budget woes.
Nov 1, 2011 - 1:03 AM
Dr Peter Morici:: Seeking to jump start his flagging campaign and establish his pro-growth and fiscal responsibility credentials, Governor Rick Perry is unveiling a tax plan that will not jump start the economy and is fiscally irresponsible.
Oct 26, 2011 - 5:14 AM
Crony Ireland - - the toxic nexus of business and local politics, in a system of limited accountability - - maybe about to make a comeback with the election of a Fianna Fáil property services insider as the next Irish head of state. Meanwhile, the opposition of eight former attorney generals to proposals on judges' pay and Oireachtas inquiries - - all of the individuals likely multi-millionaires and two who have served as chairmen of Allied Irish Banks (AIB) - - confirms again how difficult it is to bring about change in such a conservative country.
Oct 26, 2011 - 4:38 AM
Dr. Peter Morici: Federal Reserve officials are flailing about for new tools - - for example, more quantitative easing or a better communications strategy—to jump start the US economy. Sadly, the Fed has few arrows left in its quill, most are crooked, and Mr. Bernanke appears to not know where the target is.
Oct 24, 2011 - 1:42 AM
Dr. Peter Morici: No economic policy could better serve Americans than genuine free trade but open trade policies are failing Americans.
Sep 29, 2011 - 2:45 AM
Job-losses at the Irish subsidiaries of multinational companies are starting to make headlines again. The perception has been created that we are currently experiencing a large number of number of plant closures, driven by a loss of Ireland’s competitiveness as a location for foreign direct investment (FDI). In line with this, we see the usual calls for a change in our industrial and enterprise policy, notably reducing our dependency on FDI and a focus on developing an indigenous capacity (see Prime Time, 20 September 2011). To inform this debate it may be helpful to investigate the detail of recent divestments.
Sep 22, 2011 - 7:18 AM
Dr. Peter Morici: As President Obama campaigns for more government spending - - a.k.a. his jobs plan - - new unemployment claims provide fresh evidence the economy is stalling and in danger of slipping into a second recession. Big government could easily take unemployment above 15 percent and create a hole too big to ascend.
Sep 16, 2011 - 5:01 AM
Dr. Peter Morici: European efforts at economic integration have not delivered sustainable prosperity in poorer nations like Greece and Portugal. Instead, these have left Mediterranean governments teetering on bankruptcy and at the mercy of Germany and other rich states who exploit European unity to live well at the expense of their poorer brethren.
Sep 13, 2011 - 2:07 AM
Dr Peter Morici: What President Obama needs to say and do; America is in crisis. The new normal is not good enough. The unemployed can’t find jobs, the old can’t retire and those in between live in constant fear of being tapped on the shoulder and trust into the abyss.
Sep 8, 2011 - 3:27 AM
Dr Peter Morici: At times of peril, when all around are panicking, the person who stays calm can see the facts, act prudently, and not merely survive, but prosper. No doubt, readers have heard that before, but this is a good time to remember it. The markets are behaving like it is 2008 again, but it is simply is not.
Aug 12, 2011 - 8:01 AM
A possible President Gay Byrne would likely provide entertainment for some, railing against the 'mad people' in Brussels running Ireland, from his perch in Áras an Uachtaráin, the Irish president's residence, until the advanced age of 84 years.
Aug 12, 2011 - 7:14 AM
Dr Peter Morici: The US economy and equity markets are being rocked by a crisis of confidence. Businesses, investors and ordinary Americans simply lack confidence in the ability of the Obama Administration to get the country growing and create jobs.
Aug 11, 2011 - 6:49 AM
Dr Peter Morici: The Standard & Poor’s downgrade of US government debt can only have lasting economic consequences if it significantly affects the interest rates US government pays or political machinations in Washington.
Aug 9, 2011 - 3:08 PM
Ireland Post-Bubble: RTÉ, Ireland's State broadcaster, is in good company in regarding conflict of interest a strange concept. Meanwhile, we had more evidence this week that the inconvenient past may have become inoperative.
Jul 24, 2011 - 8:21 AM
Following the issue on Tuesday of US trade data for May, which showed a sharp rise in the trade deficit, Peter Morici outlined proposals on how the US could respond to slow growth by developing domestic petroleum resources and addressing what he terms Chinese mercantilism.
Jul 13, 2011 - 1:03 AM
Dr. Peter Morici: US budget deficit; President Obama hardly needs more taxes to slash the federal deficit but Congressional Republicans do need new taxes to survive politically.
Jul 12, 2011 - 1:07 AM
Dr. Peter Morici: The United States does not have to default on its debt, and the social security and Medicare checks can go out even if Republicans and President Obama cannot strike a deal to raise the debt ceiling by August 2.
Jul 1, 2011 - 6:38 AM
The most recent EU “hope” has come from the possibility of a so-called voluntary reprofiling of debt. It is not clear, however, that the ECB and EU have thought through the consequences of voluntary reprofiling of sovereign debt for countries such as Ireland and Greece. In fact there are many unintended consequences to such a move which could be much more dangerous and costly than accepting an outright default, according to CheckRisk, the research and advisory service.
Jun 24, 2011 - 2:58 AM
Dr. Peter Morici: Greece is insolvent. No amount of new loans from rich EU governments and the IMF can save Athens from default on sovereign debt, and that poses a clear threat to the global financial stability. Moreover, the solutions being imposed will reduce Greeks into poverty to sustain German prosperity. Welcome to the New Imperialism!
Jun 24, 2011 - 12:16 AM
It may eventually be both best for the Eurozone and Greece to part ways if there isn't an interest in seriously reforming a deeply corrupt system.
Jun 22, 2011 - 5:43 AM
Dr. Peter Morici: Greece does not have a liquidity problem - - it is insolvent. Without transfers of wealth from richer states like Germany and France to retire significant amounts of its sovereign debt, Athens must restructure its bonds—essentially default on significant portions of its obligations to bondholders.
Jun 21, 2011 - 2:54 AM
The latest installment of the long-running waste incineration saga in Ireland was delivered on Friday and it looked like another triumph for contemporary gombeenism.
Jun 13, 2011 - 6:32 AM
Dr. Peter Morici: On Thursday, the US Commerce Department is expected to report the deficit on international trade in goods and services was $49.0bn in April, up from $48.2bn in March. Oil and trade with China account for virtually the entire shortfall, and are a major drag on economic recovery and threat to President Obama’s re-election.
Jun 9, 2011 - 1:32 AM
Dr. Peter Morici: Lessons from Eurozone for the United States; Greece’s finances are out of control. Its bonds are downgraded to junk; and without a German and European Central Bank bailout, it will be forced to restructure its debt.
Jun 3, 2011 - 4:48 AM
Dr. Peter Morici: France's Finance Minister Christine Lagarde makes good sense to head the International Monetary Fund (IMF). She is experienced and well qualified, and for now, leadership of the IMF should be kept in European hands.
May 26, 2011 - 1:00 AM
In these grim times, President Barack Obama had an optimistic message for Ireland on Monday in Dublin's College Green, saying 'Is féidir linn,' - - the Gaelic for his 2008 campaign slogan, 'Yes, we can.' The message in particular was directed at the entrepreneurs of gloom.
May 24, 2011 - 6:18 AM
Dr. Peter Morici: Greece is in crisis again. Athens should restructure its debt and abandon the euro to reassert control over its finances and economy - - Video interview with France's Christine Lagarde at the bottom of page.
May 24, 2011 - 1:11 AM
Dr. Peter Morici: The debate over whether a European or Asian should lead the International Monetary Fund (IMF) involves more than symbolism. An Asian leader could be bad for free markets and the progress of the global economy.
May 20, 2011 - 1:02 AM