The global economy will confront serious challenges in the months and years ahead, and looming in the background is a mountain of debt that makes markets nervous—and that thus increases the system's vulnerability to destabilizing shocks. Yet the baseline scenario seems to be one of continuity, with no obvious convulsions on the horizon.

But things are likely to get much, much worse before they—eventually—get better.

He isn’t negotiating. He’s stalling for time.

With U.S. President Donald Trump’s announcement that CIA Director Mike Pompeo’s meeting with North Korean leader Kim Jung Un to prepare for a summit meeting went “very smoothly,” demands for a strate…

Syria is likely to remain a broken country for years to come. The latest strikes did not change that reality.