The following is a translation of an article by Dr. Artur P. Schmidt, a well-known economist and economic journalist in Switzerland. Schmidt is also a keynote-speaker, who speaks regularly about new media, technology, future trends and knowledge creation.

Recently, he warned that Switzerland faces potential bankruptcy if it does not act to stem losses by its banks and in Swiss Francs in Eastern Europe.

Now he turns to the United States. While I do not agree with everything he writes (I see Glass-Steagall as less important than lack of regulatory oversight), the general tone and overall analysis is spot on regarding interest rates, bailouts and savings. He also has some interesting words to say about how the inflationary policy in Washington is making other nations pay for debts incurred in America.

I should warn you that this analysis at the end of this missive is ‘leftist’ in tone — quite a bit more than what you have seen me write. However, given the huge disparity in income that has built up over the last 35 years in the United States, Schmidt’s analysis does have merit. For my take on similar issues of wealth distribution, see my post, “A populist interpretation of the latest Boom-Bust cycle.”

Barack Obama has won the U.S. presidential election in convincing fashion. While I am clearly not a liberal nor a Democrat, I am pleased with the election’s outcome. It signals a new beginning – a new era in American politics and in American society that is much needed.

Race has a way of inserting itself into almost everything in America. I have always found this troubling. In this particular Presidential election, it should be the economy here, the economy there, the economy everywhere. Yet, we also find the issue of race a factor where it should not be.
Witness Patrick Buchanan. [...]

I just read a post on the blog Duck’s Pond about how the crisis in health care in the U.S. will lead to some sticky problems for baby boomers. It’s an interesting take because it’s not the straightforward social-security-is-going-bust-so-baby-boomers-are-screwed argument.
It says more that a lack of health care in the growing Hispanic population in [...]

This comes from Larry Wright of the Detroit News via the Moderate Voice

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In reading about profit increases of some U.S. multinationals due to robust overseas business and the weak dollar, while the U.S. economy faces a protracted downturn, it has occurred to me that the divergence between U.S. worker and business interests has reached a critical juncture. Before globalization, most U.S. companies earned their business in [...]

A heck of a lot of people in the United States did not expect Barack Obama to be the Democratic nominee for President. Amongst all of his disadvantages, being Black has to rank as the most important. Race is the third rail in U.S. politics and still casts a pall over electoral politics. [...]

The title comes from a post on the Carpetbagger Report by Steve Benen. He argues that, with the primary season over, anyone pro-choice has got to dislike John McCain’s stances on the issue. However, he quotes quasi-Libertarian Froma Harrop as saying:
“A big sticking point for wavering Democrats will be McCain’s position on reproductive [...]

In the UK, I get called ‘darling’ and ’sweetheart’ all the time. I find it a bit strange (but endearing) and I’m a guy. But calling a woman you don’t know Sweetie in a professional context? That is a problem.

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Because of the potential end to the long Democratic primary season, a monster admission is getting zero play in the press: Bush spun climate findings. After Scott McClellan’s damning allegations on Iraq, this seals the deal, showing the Bush White House to be untrustworthy by every definition.
An investigation by the NASA inspector general [...]