The Sy Hersh effect: killing the messenger, ignoring the message

As Lebanon comes under growing attack by Israel, tens of thousands of Syrian refugees who had fled to Lebanon are finding themselves scrambling to return home. The Islamist government in Syria has reported some 40,000 people have crossed back in from Lebanon in recent days. At the same time this is going on, Syria is […]

Italy Cuts Fuel Taxes As Iran Crisis Drives Oil Higher; Germany Refuses Relief Despite Windfall Submitted by Thomas Kolbe A robust market economy unfolds its maximum absorption capacity precisely during external shocks. In such cases, policymakers would essentially only need to sit still, as the storm clouds usually pass on their own—true to the principle that high prices are the cure for high prices. This, of course, only applies to energy markets if governments have not already removed themselves from the equation through grotesque political interventions long before the crisis. For European...