Opinion

OK, the shutdown is over. But no one should be fooled into thinking that this settles the big questions facing the country. Even if (a big ‘if’) the immigration laws are overhauled and the nearly 700,000 ‘Dreamers’ stay in the United States, at least three large issues remain that neither party has yet had the courage to confront. Here they ...

It’s time the world’s largest pension fund boosted its risk appetite again. Japan’s Government Pension Investment Fund (GPIF) has been fleeing local government bonds ever since it doubled its allocation targets for domestic and overseas stocks in late 2014. It’s likely to have already exceeded that quota due to the global equities bull run. As of September 30, the latest data ...

In the space of a few hours on Tuesday, what had been increasingly obvious became all but official: The US is no longer leading the world economy. The US withdrawal is signaled by the Trump administration’s announcement of new tariffs on solar panels and washing machines. Dispiriting as this choice may be — not to mention bad for US workers ...

If there’s one policy that can unite socialists and Silicon Valley libertarians, it’s universal basic income (UBI) — a regular payment from the government to each and every adult, regardless of income. Many socialists like the unconditional nature of the programme — like Social Security, it has the potential to avoid arousing the anger of higher-earning people who feel they’re ...

Netflix Inc. is the Uber of the entertainment programming business. Whether Netflix investors recoil or cheer at the comparison depends on their risk tolerance. Netflix doesn’t share Uber’s inclination to push boundaries, and it has a well-functioning business. But both companies are impressive growth machines that rely on outside funding to maintain the momentum. And in both cases, it’s not ...

Few countries attract as much disdain from economists as Germany. Berlin is accused of running an excessively prudent budget and German companies of paying their workers too little: This stinginess — so the accusation goes — has contributed to global instability by making it harder for Germany’s euro-zone partners to climb their way out of the crisis. The criticisms, which ...

The International Monetary Fund (IMF) recently raised its forecasts for global economic growth in 2018 and 2019 to 3.9 percent, which would be the fastest pace since 2011. That is good for global equities, of course, but it is particularly bullish for crude oil prices and industrial metals prices. It also means that a wave of monetary tightening is coming ...

Critics of Bitcoin often argue that it’s useless as a means of payment, one of the key elements of any successful currency. That’s not quite right, and likely to become less so. First, a reminder on how Bitcoin works. If I want to send someone some Bitcoin, I simply broadcast my intention to the network. I then wait for the ...

It’s bad form to bring up unpleasant things during bonus season. That’s one of the two reasons the Asian sell-side isn’t talking much about MiFID II. The other is copious liquidity. Make no mistake. Once the great bull market ends and equity trading volumes recede, the margin compression triggered by the European Union’s revised Markets in Financial Instruments Directive will ...

The year ahead looks to be dangerous for health-care security in the US, as Donald Trump’s administration continues to sabotage the law that Congress couldn’t repeal. New proposals would let many more healthy Americans drop their Obamacare coverage — raising costs for the unhealthy and risks for everyone, sick or well. It will fall to state governments to resist this ...