Daily Archives: October 5, 2012

A brighter picture from Friday’s jobs data must be sustained if America is safely to deleverage those segments of the economy that remain over-indebted. A significant part of the monthly improvement is associated with part-time, rather than full-time, employment. With Congress too divided to enact meaningful policy measures, the Federal Reserve will have no choice but to remain deeply engaged in uncertain policy experimentation. Read more

Mitt Romney is the presidential candidate of one of the world’s oldest and most powerful political machines. Henrique Capriles is the candidate of an ad hoc and inchoate amalgam of Venezuelan political groups. Yet confounding expectations, Mr Capriles has run a flawless campaign and on Sunday will confront Chavez with the strongest challenge he has ever faced at the polls. In contrast, Romney’s campaign, lavishly funded and full of the best political consultants money can buy, has suffered from endless gaffes, mistakes and miscalculations. So is there anything that Mitt Romney, the 65-year-old veteran of politics and business, can learn from a 40 year-old from a backward country with a deeply flawed democracy? Quite a bit, it turns out.  Read more