The fastest growing US export: Debt, without a doubt.Exports of long-term debt securities have grown from $404.5 billion in 2001 to $890 billion in 2004. That is an impressive 120% increase over fou…

Alan Greenspan told Senators Schumer and Graham that China would soon make its currency regime more flexible, and that they should hold off. They no doubt took "flexible" to mean "let its currency ap…

Alan Greenspan's legacy may hinge on whether that headline is written, or whether the headline reads: "Dollar crashes, interest rates surge." From Reuters:Although a dollar crash is unlikely anytime …

I am constantly amazed by the concern well paid Wall Street economists display for poor Chinese peasants.    China, you see, cannot revalue the RMB without devastating rural China.  A revalued RMB wo…

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…