Overview The scale of financing needed to support the U.S. fiscal deficit—together with the Federal Reserve’s policy of keeping U.S. interest rates low to ward off deflation—has revived concerns a…

Overview In October 2015, the author wrote an update to this memo to reflect recent developments in Ukraine. Read the update. Ukraine continues to face internal political turmoil and tense rela…

Overview India faces the real prospect of another major terrorist attack by Pakistan-based terrorist organizations in the near future, an event that would jeopardize important U.S. security intere…

Overview Sudan faces the prospect of renewed violence between north and south over the next twelve to eighteen months. Overwhelmingly in favor of independence, the south will either secede peacefu…

Overview There is growing concern of renewed war between Israel and Hezbollah, the Lebanese militant Islamist group. Since the last major Israel-Hezbollah conflict in Lebanon in the summer of 2006…