||Last Updated: Oct 9, 2015 - 12:32 AM
Dr. Peter Morici: US home sales, gas prices and stocks; Thursday, economists expect the National Association of Realtors to report existing home sales were 5.2m in April, up modestly from 5.1m in March but down significantly from 5.8m last April.
May 19, 2011 - 5:11 AM
Devaluation is not a panacea for troubled Euro economies but because it is a neat conventional wisdom to argue that a plunge in a currency can provide instant competitiveness, it is common to ignore inconvenient facts and tailor others to suit the argument. Celebrity economics commentator, David McWilliams, a claimed architect of the disastrous Irish State bank guarantee in 2008, is back with new radical proposals based on dodgy 'facts'.
May 10, 2011 - 6:25 AM
Dr. Peter Morici: The risk of US default and return of the Gold Standard; Gold is selling for close to $1500 an ounce, up from $258 in 2001.
May 10, 2011 - 1:06 AM
Dr. Peter Morici: Wednesday, Ben Bernanke will discuss with reporters decisions taken by the Federal Reserve Open Market Committee. For this unprecedented press conference to be successful, Mr. Bernanke must venture where Fed Chairmen are most reluctant to go - - into politics.
Apr 27, 2011 - 1:57 AM
Nyberg Report: In the aftermath of another report on Irish financial mania, will it be as the French say: plus ça change, plus c'est la même chose (the more things change, the more they remain the same) or can conservative Ireland manage more than glacial change?
Apr 20, 2011 - 7:30 AM
Ireland: Thursday was a dramatic day in the ongoing devastating economic crisis when the die was cast at last and the Rubicon was crossed by an Irish government.
Apr 15, 2011 - 7:40 AM
Dr. Peter Morici: Getting serious about reducing the US federal deficit; President Obama and Congressional Republicans are tabling proposals to balance the budget, and Americans have a right to be skeptical. Separately, an analysis on the implications of rising gas prices for consumers and the economy, is also presented.
Apr 13, 2011 - 1:25 AM
Dr. Peter Morici: The economic consequences of a government shutdown can’t be calibrated on a spreadsheet with an economic model. It all depends on who wins public opinion—Congressional Republicans or the President and Democrats.
Apr 6, 2011 - 7:08 AM
Dr. Peter Morici: After missteps addressing Congressional concerns, President Obama has articulated clearly the goals, means and duration of the US military action in Libya. Critics may say he did not address those issues, but he did and the answers are not acceptable.
Mar 30, 2011 - 1:16 AM
Dr. Peter Morici: The US economy picked up in the first quarter. After adding 175,000 jobs in February, economists expect the Labor Department will report on Friday that the economy added 188,000 jobs in March. However, events in Japan, Libya and the wider Middle East, and the European sovereign debt crisis threaten to reverse these gains and thrust the economy into a second recession.
Mar 29, 2011 - 4:25 AM
Dr. Peter Morici: Crises in the Middle East and Japan threaten to thrust the US and global economies into a second recession.
Mar 23, 2011 - 1:37 AM
Japan: The economic consequences of the massive earthquake last Friday off the coast of Japan are taking a backseat as the crisis at two nuclear plants is moving closer to catastrophe. On the Tokyo Stock Exchange, the Nikkei 225 closed down 10.5% Tuesday.
Mar 15, 2011 - 6:13 AM
Dr. Peter Morici: Thursday, analysts expect the Commerce Department to report the deficit on international trade in goods and services was $41.0 billion in January, up from $40.6 billion in December and $27 billion in mid 2009, when the recovery began.
Mar 9, 2011 - 5:34 AM
Ireland has in past times had good practice with an béal bocht and sometimes with good reason. In recent years, with the return of economic woes the victims' cross has been re-varnished and some of those who dined on the fatted calf during the goods years, appear to see a chance to maintain their comfortable status quo by putting all the onus on Europeans to sort out our problems.
Mar 3, 2011 - 6:05 AM
Dr. Peter Morici: Striking a balance; US unions and the public interest - - The drama playing out in Wisconsin and public reaction illustrates why unions have America’s governors and legislatures hog tied and states teetering on insolvency.
Mar 2, 2011 - 1:07 AM
The crushing defeat of Fianna Fáil in the General Election is a clear signal of the maturing of Irish democracy in the aftermath of a largely self-inflicted economic collapse.
Feb 28, 2011 - 6:07 AM
Dr. Peter Morici: Wisconsin is ground zero in the struggle to restore fiscal sanity to government.
Feb 23, 2011 - 8:16 AM
Irish General Election 2011: In a time of peril, Ireland needs a strong, united and reforming government and the Irish people should vote for a single party Fine Gael majority government on Friday.
Feb 21, 2011 - 9:31 AM
Irish General Election 2011: The default business manifesto is a list of narrow demands of politicians, but in this critical election, the Dublin City Centre Business Association (DCBA) has produced a document with a collection of essays which outline how a broken political system can be reformed.
Feb 16, 2011 - 8:10 AM
Dr. Peter Morici: The acquisition by merger of the New York Stock Exchange by Deutsche Borse is bad news for the US economy. However, short of antitrust, the US government is in no position to stop it, and antitrust concerns can be resolved without blocking the merger.
Feb 11, 2011 - 5:20 AM
Dr. Peter Morici: Damn the regulators; The US economy is growing only moderately and the job market remains sluggish, but stocks keep roaring ahead - - and they should. American companies are fundamentally undervalued, and unless upheavals in the Middle East or a European debt crisis derail global growth, the Dow is headed for 13,000.
Feb 8, 2011 - 2:12 AM
Dr. Peter Morici: President Obama has invested a great deal in a “liberal” foreign policy, through his positions on global warming, nuclear proliferation and trade, often putting international interests ahead of US domestic economic concerns. Now, in Egypt, the time has arrived for his investment and promise to bear fruit, or for his foreign policy to fail to the great detriment of America’s standing in the world.
Feb 2, 2011 - 3:29 AM
Dr. Peter Morici: S&P has downgraded Japan’s
long-term debt from AA to AA-, indicating the US AAA rating should be taken down
several notches to less than AA-.
Jan 28, 2011 - 5:49 AM
Dr. Peter Morici: In his State of the Union Address on Tuesday, President Obama will ask for political comity. Quite a switch from two years ago, when he pronounced elections have consequences and used his majorities in Congress to push through new regulatory and spending initiatives with few concessions to Republicans.
Jan 24, 2011 - 3:11 AM
Dr. Peter Morici: This week President Obama made big news meeting with China’s President Hu, as did House Republicans passing legislation to repeal the recent health care reform law. Both accomplished little for the history books.
Jan 21, 2011 - 5:20 AM
Irish General Election 2011: With the date of March 11th set for the general election, it is expected that there will be a large number of candidates aspiring to be so-called 'independent' TDs and apart from reinforcing the pernicious disease of clientism, there is the issue of the €206,000 tax-free bonanza over a Dáil term - - a relic of the free spending Ahern/McCreevy days.
Jan 21, 2011 - 4:01 AM
Dr. Peter Morici: The US economy added 103,000 jobs in December but that was disappointing after recent surges in retail sales and business spending. Simply too many dollars Americans spend go to imports but don’t return to buy US exports, leaving too many Americans jobless, wages stagnant, and Federal and State governments with budget woes.
Jan 12, 2011 - 4:49 AM
Dr. Peter Morici: By appointing Bill Daley Chief of Staff, President Obama hopes to present a centrist face to voters skeptical about his commitment to free enterprise.
Jan 11, 2011 - 6:26 AM
Jan 4, 2011 - 12:01 AM
Dr. Peter Morici: US state and local governments face daunting budget challenges that require cuts in services and benefits to the poor and middle class.
As the current year draws to a close, it has been hard to conjure up optimism as we face into another bleak year that is largely the result of reckless mismanagement and the default three-year slow-motion response to the banking crisis. In 2011, some will leave what William Shakespeare called the 'great stage of fools' in King Lear but it will still remain well populated.
Dec 20, 2010 - 9:12 AM
The Irish trade union boss, David Begg, is in denial about the role of the trade unions in the economic crash, his own insider status through all the bubble years and in common with former Taoiseach Bertie Ahern, he is not very tolerant of critics.
Dec 15, 2010 - 4:32 AM
The belated decision of the Minister for Finance to effectively tell the board of Allied Irish Banks (AIB) that it cannot afford to pay €40m in bonuses is typical of the slow-motion process of Irish governance. Awake to a reality only when forced to take action and this again has been unsurprisingly revealed in US diplomatic cables leaked by the website WikiLeaks.
Dec 14, 2010 - 6:27 AM
Dr. Peter Morici: President Obama is convening a summit of CEOs at the White House, revealing a reelection strategy similar to Latin American leaders in the 1970s and 80s, when fiscal irresponsibility ultimately resulted in sovereign debt failures.
Dec 13, 2010 - 1:11 AM
Dr. Peter Morici: On Friday, analysts expect the US Commerce Department to report the deficit on international trade in goods and services was $44.0bn in October or 3.6% of GDP.
Dec 9, 2010 - 4:43 AM
Dr: Peter Morici: Debating tax cuts and deficit reduction both parties are blind to facts and deaf to reason.
Dec 5, 2010 - 11:00 PM
Dr. Peter Morici: The EU bailout for Irish banks failed to quell financial markets. Borrowing costs for Portugal, Spain and others continue to rise, because structural problems created by the euro and single European market remain unaddressed and more crises are inevitable.
Dec 1, 2010 - 1:42 AM
Dr. Peter Morici: With corporate profits breaking records, Wall Street anxiously anticipates the return of the individual investors to the stock market. It may be a long wait, because the little guy may have concluded investing in stocks is a sucker bet.
Nov 30, 2010 - 12:30 AM
Ireland’s four-year recovery plan puts a focus on continuing export growth and the star performer in exporting in recent years has been the the mainly US-owned pharma sector. However, rising exports in the sector have coincided with “job-shedding.”
Nov 29, 2010 - 2:52 AM
In the context of Ireland’s banking and fiscal crisis and the impending bailout by the EU and IMF, the finance ministers of Austria and France have suggested that the bailout should be made conditional on Ireland raising its 12.5% corporation tax rate. This would help squeeze Ireland’s budget deficit and resolve what has long been a bone of contention between Ireland and its European partners.
Nov 23, 2010 - 5:35 AM
Ireland's EU/IMF Bailout: It is easy to blame the euro for Ireland's economic woes and it's typical in situations like the current one to search for scapegoats beyond our shores.
Nov 22, 2010 - 6:49 AM