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November 1, 2006

Financial Markets
The club of puzzled dollar bears grows bigger

I am – and probably always will be – a big Robert Rubin fan.  In my view, 100 bills with Rubin's signature should trade at a premium, not a discount.But Rubin doens seem to be as good a currency …

December 2, 2006

Financial Markets
Good reading on the dollar’s recent move

I have on occasion been critical of the Economist’s coverage, particularly its emphasis on Chinese consumption growth rather than Chinese export growth.  But I should also give credit where credit is…

November 19, 2006

Almost unimaginably large

Those are the worlds Robert Rubin used to describe the US current account deficit. They also are words that could easily be used to described China’s current account surplus.  Nick Lardy thin…

November 13, 2006

“Exceedingly unlikely to be indefinitely sustained”

Those are – best I can tell – the words former Treasury Secretary Robert Rubin used to describe the current pattern of global capital flows, one which has allowed the US to finance a current account …

December 18, 2006

2006: 1998, only in reverse

In 1998, oil collapsed.  In 2006, oil soars. In 1998,  Russia defaulted after Treasury Secretary Robert Rubin refused to throw good money after bad, and blocked NSC pressure to continue disburse more…

March 30, 2007

Monetary Policy
Almost unimaginably large (2006 global reserve growth)

Those were Robert Rubin’s words to describe the US current account deficit.   They apply equally well to the amount of dollars the world’s central banks lent to the US in 2006.   Press coverage of th…

September 23, 2007

Sovereign wealth funds

michael pettisOne of my tricks when I want to look smart on the topic of global financial flows and monetary conditions is to check out the latest entries in Brad’s blog, which is the only blog I rea…

August 5, 2007

Budget, Debt, and Deficits
Taxing the kings of private equity like the rest of us

Cheers to the New York Times,  the Financial Times, the Economist,  Charlie Rangel, Robert Rubin, Alan Blinder, Paul Krugman, Warren Buffet (I think it is implied here), Bill Gross, Greg Mankiw (extr…

March 2, 2008

Financial Markets
Worth less, not worthless

I am glad Mr. Buffet clarified that. Project out last weeks trends for very long and there might be a bit of doubt. Mr. Soros wasn’t as kind. ""The dollar is a terribly flawed currency"Nor, for th…

April 29, 2005

Emerging Markets
China Trip Report

Nouriel and I put pen to paper and laid out our take on China. Our paper reflects on the trip we took there last month, along with the reading we did to prepare for the trip. There is nothing new her…