70 Results for:

January 10, 2005

United States
Apparently, like budget deficits, trade deficits do not matter anymore

Kevin Drum brought the latest National Review "trade deficits do not matter" article to my attention today. I learned a few things, namely that Steven Roach is part of a media misinformation campaig…

August 23, 2005

Financial Markets
How to turn $120 million into $4,180 million in less than ten years

PetroKazakhstan is not quite Unocal.  But it is nothing to sneer at either.  To no one's surprise, CNOOC's failed bid for Unocal did not end Chinese oil firms' interest in foreign acquisi…

August 11, 2006

United States
Despite what Lex says, the euro/ dollar does matter

Dean Baker’s critique of Monday’s Lex column on the dollar was on the mark.  Lex made rather selective use of the facts to argue that dollar depreciation (and renminbi appreciation) has little impact…


October 4, 2006

Budget, Debt, and Deficits
Why is 2045 more important than 2007?

Like Dean Baker, I am growing tired of reading editorials complaining about a failure to take “Social Security’s long-term problem” seriously.True, projections show a deficit of something like 1.5% o…

December 15, 2006

United States
Norway, China and Russia must believe Dr. Roubini (or David Rosenberg)

They all shifted funds out of short-term accounts (despoits, short-term securities, other short-term liabilities) and into long-term bonds -- a move that makes sense if you think the US economy is sl…

January 16, 2007

Budget, Debt, and Deficits
The Washington Post really doesn’t like Social Security …

Best I can tell, Social Security is in the best financial shape of any federal program.  It is in far better future shape than Medicare.   And it is in way better shape than the portion of the govern…

January 25, 2007

Sometimes I agree with Dr. Jen

I rather suspect I favor a bigger and faster appreciation of the RMB over time than does Dr. Jen, but I very much agree with his argument for a bit more RMB appreciation in the near term.   Stephen J…

September 16, 2007

Financial Markets
Strong oil, weak dollar -

The negative correlation between the dollar and the price of oil was much in evidence  last week – The dollar hit a record low against the euro, and is quite weak against most of the major currencies…

October 9, 2007

Financial Markets
Outsourced (the United States’ strong dollar policy)

Alan Ruskin of RBS Greenwich capital makes an important point in the Financial Times.  The US has effectively outsourced its strong dollar policy to the emerging world.    It isn't even clear tha…

July 9, 2008

Maybe China is a typical creditor after all

Creditors through the ages haven’t liked to take policy advice from debtors. They generally tend to think that borrowers should listen to the advice offered by those lending them money. And they…