As Wall Street hit another new record Thursday, it is worth considering what could cause a serious setback in stock market prices around the world. Since I started writing this column in 2012, I have repeatedly argued that the rebound in stock market prices from their nadir in the 2008-09 global financial crisis was turning into a structural bull market that could continue into the next decade.
The Great Debate
In a fast-moving war with an elusive foe like the Islamic State militants, information is as important as guns, jet fighters and bombs.
from David Rohde:
Somewhere in the desert of eastern Syria, a militant from the Islamic State beheaded the American journalist James Foley this week. The killer and his terrorist group are responsible for Foley’s death. They should be the focus of public anger.
I find Vladimir Putin annoying at the best of times, but this month my distaste has blossomed into unbridled loathing. By imposing sanctions on food imports from the United States, European Union, Canada and Japan, Russia’s kefir-drinking head of state scuppered my chances of making a decent plate of cacio i pepe or a batch of brownies for the next calendar year. The specter of Soviet-era scarcity is already making itself felt in eerie ways in supermarkets all over Moscow.
from John Lloyd:
The collapse of empires has been regarded as a good thing for at least a century, much strengthened by U.S. president Woodrow Wilson’s efforts at the Versailles Peace Conference after World War One, where he sought to inscribe into international practice and law the right of all peoples to achieve a national state.
I was the police chief in Kansas City, Missouri, when an unarmed African-American teenager was shot by a cop for a non-violent issue. The result was a peaceful and constructive public dialogue — the opposite of what is happening now in Ferguson, Missouri, in the aftermath of the shooting death of Michael Brown, an unarmed 18-year-old.
Last week was a weird one for American military hardware.
In the United States, Mine-Resistant Ambush Protected vehicles (MRAPs), AR-15s and camouflage body armor all made an appearance on the streets of a suburb in the heartland, helping to give a tense situation the push needed to turn into a week of riots. American citizens in Ferguson, Missouri, feeling they were being occupied by a foreign army, rather than their friendly neighborhood cop on the beat.
It’s time to wonder whether Israel and Palestine will ever be able to move out of the moral abyss into which they’ve plunged themselves, and address the threat of peace.
from Anatole Kaletsky:
Why is the world economy still so weak and can anything more be done to accelerate growth? Six years after the near-collapse of the global financial system and more than five years into one of the strongest bull markets in history, the answer still baffles policymakers, investors and business leaders.
The article originally ran last October. It has been updated by the authors.
There is a growing bipartisan public outrage about the local police force’s fiercely militarized response to protestors in Ferguson, Missouri.