Attempts at austerity and deleveraging in Europe have converted an economic problem into a political dilemma, with leftist governments rising against Germany's austerity-laced rescue packages. Germany now faces a tough economic decision that will involve choosing between a breakup of the current euro system and a movement toward a common fiscal policy in Europe.

After five years of wrenching economic recession, one has to wonder what it will take for Greece to cut itself loose from the failed IMF and EU policies that have reduced the country to its present terrible economic pass.

There should not be an Americas currency bloc

Judging by the financial market's renewed unease about Italy and Spain over the past week it would seem that all that the European Central Bank's €1 trillion liquidity injection in the European banking system bought was around four months of relative market calm.

In an attempt to protect poor, uninsured and underinsured Americans from unsafe drugs, we are making sure that some go without drugs completely. It is time the law was changed.

China's new leadership is threatening to stay content with slower economic growth, and the country's manufacturing, housing, and export sectors are experiencing problems. Nonetheless, China has an opportunity to influence economic growth in 2012 through stimulus measures to its own economy.

China is heading for a hard landing in 2012 or 2013 for three reasons: Excess capacity tied to overstimulation of investment in export industries and weak domestic demand growth, a bursting speculative bubble in its real estate sector, and a sharp slowdown in global growth.

Ever since its founding in 1948, the Democratic People's Republic of Korea has maintained an aggressive and bellicose international security posture. Today, fully two decades after the end of the Cold War, North Korea's external defense and security policies look arguably more extreme and anomalous than ever.