The Collapse of Consumption?

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Deeply embedded in the core of the American economy are automobile economics and automobile culture. Showroom visits by potential buyers are down 50% this month as compared to last year, and sales of new automobiles by General Motors, Ford, Toyota, and other dealers are down by 33% on average when compared to last year.

Wanted: Bold, Game-Changing Ideas

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Perhaps the most frustrating aspect of last Friday’s presidential debate was that neither candidate proposed a bold, new way of thinking about foreign policy that cuts through the crisis-driven, incremental approach that has characterized the United States’ national security posture since the end of the Cold War.

Liberal Democracy or Empire?

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The question of how and when the United States should promote democracy abroad rose to the forefront of our nation’s foreign policy discourse following the terrorist attacks of September 11, 2001 and reached its apex in President Bush’s Second Inaugural Address.

Bush Will Address the Nation, 7:45 am EST

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George W. Bush will address the country (and world) at 7:45 am EST Tuesday morning. Global markets are falling in the aftermath of the single largest point drop of the New York stock exchange in American history. There is no bail-out deal for the American financial sector, and global credit markets are choking up.

Mozart Rave and a Drink

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Well, you’ll get more than Mozart — but if you love music and want to visit one of the funkiest cafes and restaurants — visit Santo Spirito in Vienna.

Bail-Out Becomes Buy-In?

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I spoke to former World Bank Chief Economist and Initiative for Policy Dialogue President Joseph Stiglitz on Saturday by phone, and he shared with me many of the same points that he does in this excellent article, “A Better Bailout,” on how we needed to structure a financial markets action plan.