The first article here highlights the tenor of recent economic data. The global economy continues to slow, with the US doing relatively better than Europe in the wake of the financial crisis that began five years ago. Nevertheless, slowing is clear in the data throughout the developed economies and emerging markets, leading Gerard Lyons to ask whether we are in for a second global recession.
In my view, only a recession in the US could make that outcome likely. That means that US growth is vital to continued global expansion. Further, US growth is very much dependent on a positive outcome to the fiscal cliff scenario that promises to add a negative impulse to the US economy via spending cuts and tax hikes. What's clear now, as the Washington Post article below demonstrates, is that Americ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.