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May 14, 2005

Economics
It seems like both the People’s Bank of China and W

hold lots of worthless IOUs in their portfolios (link via Dan Gross/ Moneyblog).There seems to be a lot to talk about this weekend, whether the Fed’s various views on the risks associated with the US…

August 24, 2005

United States
Are we ignoring the United States’ strengths?

Anantha Nageswaran of Libran Asset Management in Singapore has submitted a set of (lengthy) comments that respond, in some sense, to many of the points I and others have raised on this blog.   Check …

July 18, 2005

China
If your reserves are growing by $300 billion a year

China indicated its reserves have increased to $711 billion at the end of June -- up $101 billion from the end of December 2004. Actually, they are up more than that. China transferred $15 billion …

January 8, 2006

Monetary Policy
Sit back and watch Asia’s reserves grow.

Not because Taiwan is reportedly intervening once again last week.   But because Asia holds lots of euros and yen.    The euro rose 2.4% against the dollar last week, the yen by 2.8%.  And Asia holds…

March 8, 2006

Emerging Markets
The market concludes (many) risks do not exist. And then it reevaluates.

I was going to write about how the markets have concluded that risk does not exist.After all, early last week, the market thought that dollar bonds issued by emerging economies were not that much mor…

February 8, 2006

Monetary Policy
The central bank (and oil fund) bid

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…

September 11, 2005

Budget, Debt, and Deficits
Is John Snow going to be among Katrina’s (political) casualties?

Mike Allen of Time (formerly Mike Allen of the Washington Post) seems to think so.  Or at least he is starting hear whispers.It seems that the White House's post-Katrina political strategy consis…

December 8, 2004

Politics and Government
Damaged Snow

If you were John Snow, would you stay knowing that you were at best the President’s second choice?Do DC’s conservative activists really value tax cuts more than financial stability? And does their op…

October 30, 2006

Financial Markets
Can David Rosenberg out-Roubini Roubini?

Nouriel “If you are going to be a bear, might as well be a grizzy” Roubini has a bit of competition.  Merrill’s David Rosenberg now puts the odds of a recession at up to 80% “HSBC, US Bank ... now pe…

November 14, 2006

China
Still not rebalancing …

The Economist cover jinx strikes.  After the Economist’s cover story extolling how Chinese growth no longer depends heavily on exports, the contribution of (net) exports to Chinese growth has done no…