Germany refused to share the debt burden of stressed eurozone peers on Tuesday, ignoring two of the most influential international economic bodies which offered support for proposals championed by Paris, Rome and Brussels ahead of a summit.
When I hear the word austerity, I immediately think of nuns -- plainly dressed, in austere living quarters, with stern expressions. It's an odd admission coming from a secular Jew who has never set foot in a Catholic school, but not a surprising one given that severe fiscal policies are being meted out on suffering nation-states like swift slaps of a ruler on a wrist.
As a nation, either our kids are getting dumber or everyone else's are getting smarter. American 15-year-olds ranked 14th in reading, 17th in science and 25th in math in a study of students in 34 nations and nonnational regions.
Sizing up the magnitude of Mexico's obesity problem is as simple as visiting a clothing manufacturer. At Arush, a clothing factory in Mexico City, the changing demand has modified production. Buyers, including Mexican giant retailers like Soriana and Liverpool, are increasingly asking for "large" and "extra large" sizes, which have all but replaced production of "small" and "medium."
In science, 15-year-old students in the United States performed about average as compared to their counterparts in other industrialized nations, according to a report released Tuesday by the U.S. Education Department.
Those of us alive last night will one day retell the story of how mere mortals in Congress and the White House defeated a combined army of Harpies, Gorgons and Minotaurs that for decades have thwarted all efforts to reform the American health-care system.
Finding a tax haven is easy. Just flip to the back of the Economist. "New Accounts in 8 Minutes" brags one ad. Another promises that no one is "better positioned to deliver solutions that work" on offshore companies. And yet another offers more than 20 years of experience and the "best prices guaranteed."
Making his international debut at the Group of Seven meetings in Rome, new U.S. Treasury Secretary Timothy Geithner said swift and decisive action is needed on several levels to address the global financial crisis.