Keep America Open to Trade
By CARLOS M. GUTIERREZ and ARNOLD SCHWARZENEGGER
As immigrants, we’re proud of America and the strength it derives from being uniquely open to trade, to investment, and to ideas and people. Recently, prominent voices in punditry and politics have questioned the benefits of America’s openness and called for an isolationist U-turn [...]

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How Big A Threat Is Barr?
Former Georgia Rep. Bob Barr announced today his intentions to represent the Libertarian Party in a run for the presidency. [...]

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The Ticking Credit Card Time Bomb
by Peter Schiff,

For those holding out hope that the American economy can miraculously avoid a long and deep recession consumer credit is often viewed as the wonder drug that can cure all manner of economic ills. As such, this week’s report showing $15 billion [...]

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Argentine lending
Who needs credit?
Life can limp on without modern finance—but not forever

WHILE the ripples of America’s subprime-mortgage crisis have spread far and wide, Latin America—a place long associated with financial disaster—has remained improbably calm. Banks have reported no unpleasant surprises. Brazil and Peru have been blessed with coveted investment-grade ratings. Surprisingly, perhaps the fleetest [...]

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How banks can put their houses in order
By Charles Dallara

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The US economy hovers on the cusp of recession, some banks are struggling to recover from serious blows to their credibility [...]

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The Biggest Housing Losers
You may not know it, dear reader, but Congress is playing you for a sap. During the housing mania, you didn’t lend money at teaser rates to borrowers who couldn’t pay, or buy a bigger house than you could afford. You paid your bills on time. As a reward for that good [...]

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DAILY ECONOMIC DATA

Deficit Rising, But Tax Hikes Not Warranted

Later today the Treasury Department will announce federal budget figures for April (the month when tax payments are due). We expect the figures to show a $161 billion surplus in April, which would leave the federal budget, after the first seven months of the 2008 [...]

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The U.S. Role in a Mexico Assassination
By MARY ANASTASIA O’GRADY
Stories of campus drug use in the U.S. are so common that last week’s arrest of 75 alleged dealers at San Diego State University was shocking chiefly due to the number netted. The occasional big bust aside, the long running drug war has become almost background [...]

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The Ins and Outs of Russian Investment
For a country that is something of a demographic nightmare (although there are signs of improvement), Russia seems to be very active in the realm of investment–both coming in and going out. Let us begin with the investment activities of Russia going out. Rachel Ziemba over at [...]

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Powerful quake kills thousands in southwest China

Rescuers search the rubble of a collapsed school in Dujiangyan©AFP/XINHUA

BEIJING (AFP) – A massive earthquake stunned southwest China on Monday, killing more than 8,000 people and flattening schools, factories and homes in a powerful tremor that was felt across a swathe of southeast Asia.
The quake, with a magnitude [...]

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