Economy and Business

Bye-bye, Dubai

Bye-bye, Dubai

It’s bad enough when a person drowns in debt. Shock waves multiply when a corporation teeters on the verge of failure. The economy becomes even more agitated when a country declares bankruptcy, as Iceland did in 2008 and Hungary and Latvia almost did in 2009.

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Cuban Embargo: Nothing Succeeds Like Failure

Once again, Cuba has asked the United Nations to help end the U.S. economic, financial and trade embargo. Havana says this blockade cost it more than $242 million last year. The embargo also stymies Cuban access to foreign capital from other nations, because investors face possible U.S. sanctions for doing business with Cuba.

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Neighbors Banding Together in Tough Times

The U.S. economy has lost more than 2 million jobs this year, ratcheting the unemployment rate to 9.7 percent, the highest level since 1983.

But the politicians and pundits didn’t seem to notice. They’re fixating instead on the stock market’s rebound as a sign of recovery. While that might mean a boost for Wall Street, it hasn’t helped the rest of us very much.

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Is That Congress Calling Detroit Incompetent?

I’m always conflicted when I watch some fat-cat miscreant being worked over at a Congressional hearing. On the one hand, the person on the spit usually deserves it.  He or she has almost certainly violated the public trust in a way so obvious that it caught even the...

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