The problems Argentina is having in trying to resolve its debt issues is the manifestation of a larger problem – how should the financial defaults of countries be handled. Government defaults are not the same as private defaults. But they are important and at present, they are ‘worked out” largely on an ad hoc basis.
Argentina is in an economic bind because of bad policies. So what else is new? The country has a history of lurching from one crisis to another. The article explains the situation and offers a positive suggestion.
The Eurozone is a collection of disparate nations using one currency – the Euro. It is a mistake to look at them as a single entity. In this article, I break them into 5 groups.
The US is spending more than $100 billion annually on programs to eliminate “entertainment” drug use. The program is not working. I urge you to take the time to read through this article on why the US should legalize these drugs.
On the face of it, the Ukrainian situation is the most dangerous event for the world since the Cuban missile crisis: Russia pitted against the US with no easy out for either. But it will not escalate into a nuclear war. The US does not have the stomach for more war.