China's leaders talk of rebalancing the basis for Chinese growth, shifting from exports and investment to consumption.   That makes a lot of sense to me.  China's economy is every bit as unbalanced a…

Stephen Jen sometimes says the darnedest things.  Not about currencies.   But about reserves. His estimates for oil reserve growth have been consistently on the low side.   Norway, the UAE and Kuwait…

The Fed has started to tighten, Greenspan said anyone who has not hedged their interest rate risk desires to lose money. Yet higher short-term rates have not led to higher long-term rates. In the j…