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The old central-bank playbook of slashing interest rates to spur consumption, investment, and employment has become less effective since the 2008 financial crisis. Yet without effective tools and the public's confidence, central banks will be unable to rise to the occasion when the next recession arrives.
More inclusive global growth in a world with free capital mobility does not require a “global” government that taxes and redistributes, but it does require global taxation and tax cooperation. Countries should be free to set their own taxes, but they should be required to share tax-relevant information.
French President Emmanuel Macron has drawn criticism for describing NATO as brain dead and pursuing a rapprochement with Russian President Vladimir Putin. But now that a wayward America could abandon the continent at any moment, Macron's argument for European defense autonomy is difficult to refute.
NEW YORK – Mohammed al-Hanashi was a 31-year-old Yemeni citizen who was held at Guantánamo Bay without charge for seven years. On June 3, while I was visiting Guantánamo with other journalists, the press office there issued a terse announcement that al-Hanashi had had been found dead in his cell – an “apparent suicide.”
Because my commercial flight was canceled, I got a ride back to the United States on a military transport. I happened to be seated next to a military physician who had been flown in to do the autopsy on al-Hanashi. When would there be an investigation of the death, I asked him? “That was the investigation,” he replied. The military had investigated the military.
This “apparent suicide” seemed immediately suspicious to me. I had just toured those cells: it is literally impossible to kill yourself in them. Their interiors resemble the inside of a smooth plastic jar; there are no hard edges; hooks fold down; there is no bedding that one can use to strangle oneself. Can you bang your head against the wall until you die, theoretically, I asked the doctor? “They check on prisoners every three minutes,” he said. You’d have to be fast.
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