The housing market is where the Great Recession started. It’s the main thing delaying recovery, and the reason fiscal and monetary stimulus (traditional and modern) haven’t worked better. The U.S. and U.K., especially, could have done a lot about it, but chose not to.
An Iranian court sentenced a former U.S. soldier of Iranian descent to death for spying amid rising tensions over concern the Persian Gulf nation may try to close the Strait of Hormuz if Western sanctions are imposed.
In confirmation hearings last week, Richard Olson, President Barack Obama’s nominee for ambassador to Pakistan, said his top priority would be working with the Pakistanis to degrade the Taliban-allied Haqqani network.
Iran, which sought to use a Tehran summit to win support and repel efforts to isolate it, instead found its leaders rebuked by United Nations chief Ban Ki-moon over their stance on Israel and its ally Syria accused of losing legitimacy.
A political wrangle over an Iranian arms shipment seized in Nigeria has set back the Persian Gulf nation’s efforts to cultivate links in Africa as it seeks to forestall diplomatic isolation over its nuclear program.