Obama s Middle East Malady

By now we are familiar with the malady.

Therefore, the United Nations as a whole should confront that vicious malady.

Sick are their hearts, and God adds to their malady. For them is suffering for they lie.

Sick are their hearts, and God adds to their malady. For them is suffering for they lie.

Is there a malady in their hearts, or they are deluded, or afraid that God and His Prophet would be unjust in dealing with them? Not so they are themselves unjust.

Is there a malady in their hearts, or they are deluded, or afraid that God and His Prophet would be unjust in dealing with them? Not so they are themselves unjust.

Worst of all, Soros does not recognize the real nature of the eurozone s problems. The ongoing financial crisis is merely a symptom of the monetary union s underlying malady its southern members loss of competitiveness.

Indeed, the current budget war seems to be reopening old divisions about America s view of itself and the world. The outcome is far from certain, but even isolationism, a perennial American malady, seems to be making a comeback.

That is why the most open and freest society today, the Unites States, leads the world in rates of severe mental disease supplanting England, yesterday s freest and most open society. Indeed, foreigners at one time considered madness the English malady.

Because Asian governments have tended to support their modern, tradable sectors to a greater extent, most Asian countries have managed to avoid this malady, and have done much better as a result. But even the Asian model may be reaching its limits.

Yet the treatment prescribed for this malady has compounded the problem. Steeped in denial, the Federal Reserve is treating the disease as a cyclical problem deploying the full force of monetary accommodation to compensate for what it believes to be a temporary shortfall in aggregate demand.

But the financial market turmoil fueled a panic among eurozone leaders, leading them to misdiagnose the malady and prescribe the wrong medicine, which has served only to generate new symptoms. While Draghi s promise, embodied by the ECB s outright monetary transactions program as well as its long term refinancing operation and emergency liquidity assistance program has bought time and lowered yields, the eurozone s banking crisis persists.