This series spans the globe presenting leading research in economics. It is perhaps a sign of the times that economic weapons such as sanctions seem to be as powerful as or more so than tanks. International applications and examples of economic progress are invaluable in a troubled world with economic booms bursting like so many penny balloons. Globalisation, outstanding and jobless recoveries present economic issues of concern to millions. Topics discussed herein include: the recession and the issues and policies of the economic stimulus; the economics of the federal budget deficit; the potential role of the International Monetary Fund (IMF) in helping to resolve the current global financial crisis; a study of the patterns found in past recessions since World War II and an analysis of how this recession might be different; and the increase in leveraged buyouts (LBO) of U.S. companies by private equity funds and the potential impact of these deals.