The Fed failed to raise interest rates on Sept. 21, giving many markets and fund managers a sigh of relief. Fed Chair Janet Yellen said that the case for an increase has strengthened, but decided for the time being to wait for further evidence of continued progress toward the Fed objectives of maximum employment and price stability. Some analysts felt that any Fed rate increases would be seen as favoring one party in the US presidential elections.Caution having over-ridden valor, overall stock m

Less than a decade after the financial crisis, Deutsche Bank is in trouble again, with investors speculating about whether the German government will have to rescue one of the world‘s largest financial institutions. The sad thing is how easily this predicament could have been avoided.This time around, Deutsche Bank isn’t dealing with an unforeseen market meltdown or sovereign-debt crisis. Rather, the proximate cause of distress is the US Justice Department‘s threat to fine the firm $14 billion f

Recently, Congress engaged in a bipartisan barrage of CEO bashing.The Senate Banking Committee assailed Wells Fargo CEO John Stumpf for pushing employees to create as many as 2 million bogus bank and credit card accounts without customer consent — making customers pay overdraft and late fees on accounts they never knew they had.Louisiana Republican David Vitter pressed Stumpf on when he knew about the wrongdoing. “In 2011, about 1,000 employees were fired over this,” said Vitter, incredulously,

SpaceX CEO Elon Musk made a splash at the International Astronautical Conference in Mexico with his plans for an Interplanetary Transport System, along with a disturbingly inspirational ultimatum:“There are really two fundamental paths. One path is we stay on Earth forever and there will be some eventual extinction event. ... The alternative is to become a space-faring civilization and a multi-planet species, which, I hope you would agree, that is the right way to go.”Unless we slip the surly bo

The US is putting pressure on North Korea on several fronts, including military deterrence. Such efforts should be expedited and encourage other members of the international community to follow suit. Real deterrence against the North -- which even threatens a nuclear strike on the continental US -- should involve Washington and its allies South Korea and Japan making sure the fanatic rogues in Pyongyang do not even consider such provocations. The US, which sent B1-B supersonic bombers to South K

The leaders of Thailand and Myanmar made the same promise at the United Nations General Assembly last week -- to promote and protect human rights. It was interesting to hear the same pledge from one country that’s gone from military to civilian rule and another that’s moved in the opposite direction, but the reaction has to be the same regardless: Hope that they aren’t merely paying lip service to a noble international goal.  Aung San Suu Kyi, who swept to power in Myanmar’s election earlier thi

Hinkley Point is China’s Hong Kong in the UK. More than a century ago, Britain established itself on the tip of China’s mainland, converting a drowsy island into a powerhouse of commerce. More than a century later, Theresa May’s government has approved the establishment of a new sort of powerhouse - a 3,200 megawatt nuclear plant on the coast of southwest England. The colonisation of Great Britain has begun.Ironically, Theresa May had as much choice as the Chinese once did when they ceded Hong K

Shimon Peres’ death Wednesday struck a deep and sad chord for Israelis. They never united behind Peres the politician, who served as prime minister twice without being elected. They came to revere him, however, when he served as president.When the 93-year-old Peres was hospitalized two weeks ago after a severe stroke, it evoked a greater response than the final chapters of other countries’ leaders because he was the “last man standing” -- the last of the iconic group of men and women who surroun

Watching Monday night’s presidential debate from a country that has been bankrupted by populist economic ideas was instructive: Argentina’s experience shows that good countries can make very bad political decisions that have lasting costs.Visiting here with Treasury Secretary Jacob Lew was also a reminder of how intently the rest of the world is following this year’s U.S. election campaign. American power remains a basic ordering principle of global life, however much Uncle Sam is maligned. So w

The joint strike by railroad and subway workers across the nation is raising concerns about disruptions to logistics and transport. In protest against the government-led performance-based pay system, unionized workers of the railway and subway sectors launched a simultaneous walkout earlier this week. It marked the first time in more than 20 years that the two sectors’ employees had gone on a joint strike.A union leader from the railway industry claimed that the state-controlled railroad operato

Donald Trump had plenty of moments Monday night that would have disqualified any other candidate in a presidential debate: bragging about getting through a discrimination investigation “with no admission of guilt”; saying he had not “given lots of thought” to NATO; noting that he often took advantage of laws; taking pride in having paid no taxes some years; and referring to the man in the White House as “your president.”　But you could have compiled a similar list in nearly any fortnight of the T

Many people around the world are probably wondering why Hillary Clinton -- who is obviously more prepared and better suited for the American presidency than her opponent, Donald Trump -- isn’t waltzing to victory. Many Americans share the world’s bewilderment.National opinion polls may well continue to fluctuate until the election on Nov. 8. But Trump has been closing in on Clinton in recent weeks, even threatening to catch up with her in the Electoral College vote, where the Democrats’ control

Kim Ji-ha is known more for his satirical poems “Five Bandits” and “Rumors” from the 1970s than for the works he produced after he changed his course to something beyond resistance against oppression. 　He surprised readers and critics by showing a shift of social views with a 1992 commentary on the death of a student protester. It was published by conservative daily Chosun Ilbo under the title, “Now quit the rituals of death!” Kim then engaged in advocating respect for life in humanity and natur

Last month, the election of Rep. Choo Mi-ae to steer the main opposition party on Aug. 27 brought on a handful of news articles that highlighted on her gender. Some even anticipated what her “chemistry” would be like with the nation’s female president.Staging the climax to such gender-oriented commentaries was the ruling Saenuri Party, whose spokeswoman Rep. Kim Hyun-ah said, “It is hoped that (Choo) will take on a delicate attitude like that of a mother to prioritize everyday economy over polit

It’s entirely unsurprising -- expected, really -- for the anti-global European left to oppose a trade deal with America. But with Canada?The Comprehensive Economic and Trade Agreement, painstakingly negotiated over seven years, would cut trade barriers between Europe and the world’s 10th-largest economy. Unlike the Transatlantic Trade and Investment Partnership between the European Union and the US (which is all but dead), CETA has been signed and ready to go for some time. Thankfully, Europe’s

The entire 90-minute debate Monday night was a demonstration that Donald Trump doesn‘t have the temperament to be president.  Hillary Clinton was prepared -- she always is -- and she baited Trump early and often. And Trump got caught each time. He also hooked himself, including in at least two exchanges with moderator Lester Holt (who did an excellent job, allowing both candidates to talk). Here are some examples.In Clinton’s very first response to Trump, about trade, she managed to work in that

The parliament’s passage last week of no-confidence vote against the agriculture minister leaves several things to ponder. First, the opposition-led vote against Kim Jae-soo was the first event at the 20th National Assembly in June that made everyone -- from the president, ruling and opposition members to the public -- realize the cold political reality: The parliament is controlled by opposition parties. The no-confidence motion, proposed by the main opposition Minjoo Party of Korea and the min

A growing chorus of politicians and national security experts have questioned whether it would be safe to have Donald Trump’s finger on the nuclear button. But are they asking the right question?　In an open letter, 50 leading Republican national security experts warned that Trump possesses “dangerous qualities in an individual who aspires to be president and commander in chief, with command of the US nuclear arsenal.”　Or, as Hillary Clinton put it in her speech accepting the Democratic nominatio

As the anti-graft law, which is commonly referred as the Kim Young-ran law, is enforced as of today, millions of Koreans are worried and even scared of the newly implemented law that will affect their lives in one way or another. Not only government officials but also professors, teachers and journalists are being extremely cautious in order not to violate the new law and inadvertently end up being a criminal. In fact, the fear escalates exponentially when it’s realized that the newly enforced l

There is a certain tragic irony in the fact that a crackdown on US colleges with low graduation rates was announced during the very week that the Times Higher Education Supplement published its annual list of the world’s best universities. The coincidence provokes the thought that there is too much of this going on.By “this” I mean the constant effort in higher education to sort the best from the not-best, and the best among the best from the best, and the best among the best among the best from