222 Results for:

September 20, 2006

Europe
Is it Europe’s turn to rise a housing bubble?

Both Morgan Stanley (at least Eric Chaney) and JP Morgan (in their latest global outlook) now recognize that Europe has emerged as an important engine of global demand growth.    Indeed, the 2005 sur…

eu_housingmarket_on_the_tak

November 14, 2006

China
Still not rebalancing …

The Economist cover jinx strikes.  After the Economist’s cover story extolling how Chinese growth no longer depends heavily on exports, the contribution of (net) exports to Chinese growth has done no…

October 12, 2006

Europe
Is France the US of the Eurozone — at least when it comes to housing?

I have --on occasion -- pushed against the standard economic narrative on the US and Europe, one that contrasts the "flexible" US with "rigid" Europe.   It has a grain of truth, but only a grain.   T…

french_housing_1

November 21, 2006

Europe
The booms in Spanish and Irish real estate make the US real estate boom look timid

I have outsourced Thanksgiving blogging to Charles Gottlieb of the Center for European policy studies in Brussels.   (Charles.gottlieb at ceps.be)His topic: The Spanish and Irish housing booms (or bu…

spain_ireland_1

November 12, 2006

United States
“Convenient to the point of being self-serving … but it seems right”

Those are the words Charles Dumas and Diana Choyleva of Lombard Street Research use to describe Bernanke's savings glut hypothesis in their book "The Bill from the China Shop."  They write:In Mar…

January 16, 2007

Monetary Policy
I have a bit more competition, at least when it comes to reserve tracking

Morgan Stanley has launched a new global reserves monitor.    Their weekly has a bit more detail than in the online version.    I can hardly complain though.  I have a bit more detail hidden behind t…

asian_reserve_growth_ex_china

June 20, 2007

United States
Does Bretton Woods 2 end with a bang or with a wimper — a dialogue

What follows is a bit of an experiment.   I am posting -- with permission -- a lightly edited version of an email exchange that I had with a global equity portfolio manager a few days ago.   Like all…

November 6, 2006

Financial Markets
Lower vol = more imprudent bets?

That, in effect, is what some at the Bank of England think.  Mark Gilbert channels John Gieve. ``After a short pause in May and June, we have seen the return of aggressive risk-taking in financ…

September 12, 2007

United States
A savings glut, not an investment drought -

So argues Ben Bernanke.   His basic argument is very simple.  The emerging world now has a large and growing current account surplus that finances a large and growing current account defic…

December 16, 2007

Economics
Weekend extra-credit -

Weekend reading for all those waiting for the US current account and TIC data on Monday. Time for a strong rupee policy?  This weeks’ Economics focus column intelligently discusses the policy d…