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December 4, 2005

Economics
What is the matter with Kansas?

After seeing this graph over at Calculated Risk, I could not resist.   It seems my home state has the least housing froth around ...Maybe it has something to do with the fact that a (very young) Univ…

February 11, 2006

United States
Cantankerous commentary on trade deficit commentary

I must have rolled out off the wrong side of the bed.   A few things about the commentary on the record 2005 trade deficit have been bothering me.  Above all, the argument that the US trade deficit i…

March 26, 2006

Monetary Policy
Summers on reserves, exchange rates, the international financial architecture and other big topics close to my heart

Larry Summers has always believed that capital should flow from the already rich and aging societies that constitute the current core of the world economy to the poor and young countries on the perip…

April 10, 2006

China
A shortage of labor in coastal China is a good thing

Unless, I suspect, if you are a Hong Kond textile magnate.  I don't entirely agree with Stephen Roach's argument that the US should thank China for its cheap financing so long as the US doesn't save…

May 26, 2006

China
Do China’s fast growing dollar reserves guarantee a sound banking system?

One common argument about China that I never have fully understood is that China’s banks are OK because China has tons of dollar reserves. It is implicit in this statement by the (very good) Richar…