Anatole Kaletsky

Forget the drama: A solution for Crimea

By Anatole Kaletsky
March 28, 2014

President Vladimir Putin has disastrously miscalculated and Russia now faces deeper isolation, tougher sanctions and greater economic hardship than at any time since the Cold War. So declared President Obama after the NATO summit in Brussels.

Osborne: Stealth convert to ‘Keynesian Thatcherism’

By Anatole Kaletsky
March 20, 2014

Britain’s government budget released this week is not a statement of economic policy. It is a program for winning next year’s general election.

Janet Yellen’s moment

By Anatole Kaletsky
March 18, 2014

When Janet Yellen chairs her first meeting of the Federal Open Market Committee Tuesday and Wednesday, she will be presented with a once-in-a-generation opportunity that even her predecessors in the world’s most powerful economic position have rarely enjoyed.

Japan as the crisis next time

By Anatole Kaletsky
March 14, 2014

Which major economy is most likely to disappoint expectations this year, and perhaps even cause a financial crisis big enough to break the momentum of global economic recovery? The usual suspects are China and southern Europe. But in my view the most likely culprit will be Japan.

Markets already see a Putin win

By Anatole Kaletsky
March 6, 2014

Oscar Wilde described marriage as the triumph of hope over experience. In finance and geopolitics, by contrast, experience must always prevail over hope, and realism over wishful thinking.

The case against a Chinese financial crisis

By Anatole Kaletsky
February 24, 2014

A severe slowdown in China is viewed as among the greatest risks facing the world economy this year, and Thursday’s dismal news on Chinese manufacturing output exacerbated these fears. But the really important news from Beijing pointed in the opposite direction: Bank lending in China, instead of slowing dramatically as many economists had expected, accelerated in January to its fastest growth in four years.

Yellen looks toward a Keynesian approach

By Anatole Kaletsky
February 13, 2014

This has been a banner week for the world economy, inspired largely by events in the United States.

Behind the wave of market anxiety

By Anatole Kaletsky
February 6, 2014

What has caused the sudden anxiety attack that overwhelmed financial markets after the New Year? We may find out the answer at 8.30 on Friday morning, Eastern Standard Time.

A central banker’s ‘license to lie’

By Anatole Kaletsky
January 30, 2014

Federal Reserve Chairman Ben Bernanke, who retires this week as the world’s most powerful central banker, cannot be trusted.

Venice’s renaissance shows a path for European revival

By Anatole Kaletsky
January 23, 2014

“I have seen the future and it works,” said Lincoln Steffens, a left-wing American journalist, on returning from the Soviet Union in 1919. After a weekend in Venice at a seminar organized by the Italian ambassador to Britain, I found myself struck by the same thought, which is not exactly the reflection that the world’s most perfectly preserved medieval city is supposed to inspire. Venice is a clichéd metaphor for “Old Europe” — a sclerotic old continent fixated on its past and now retiring to become a museum society, destined gradually to sink beneath the sea. But should we perhaps be inspired, not depressed, by the thought of Venice, the ultimate “museum city,” as a microcosm of Italy and even of Europe as a whole? After all, Venice is still standing, not sinking into the sea, and after 500 years of supposed decline it is still stunningly beautiful. Maybe Italy and Europe, instead of sinking, will also prove their resilience and make a comeback?