There is a common sense that social security is bankrupt and people now in their 20s and 30s won’t get anything from it. That is false. Social security can fund all projected benefits until someti…

Adam Thomson of the FT has an interesting article arguing that Argentina’s bond restructuring could succeed if Argentina is willing to offer bondholders 30 cents on the dollar, only a bit more than t…

I have a certain interest in the topic, since in my first and so far only foray into oped writing, I supported the Bush Administration’s call for $20 billion in US grant aid for Iraq (in the end, con…

The latest monthly trade data came out today, and was worse than expected -- though in my view that indicates expectations have yet to catch up with reality. Exports have been stuck in the $95-96 bi…

The Treasury provides monthly data on foreign purchases of US long-term securities. It is not a complete look at how the US is funding its trade and current account deficit, but it is the best snap …