Alan Greenspan says there is no national bubble, just pockets of local froth. Or to the housing sector’s in house economists, just a few healthy suds floating on top of a healthy market. Then again,…

I really liked Krishna Guha’s analysis of global imbalances that appeared in Wednesday’s FT.    His emphasis on the role of exchange rate adjustment in global rebalancing seemed right to me.  Exchang…

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 that th…

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…

Not all parts of America are enjoying a housing bubble. $65,000 will buy a brick home with three bedrooms and a two car garage in Stafford Kansas, though maybe not ten acres of prairie as well. Low…