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November 28, 2005

Emerging Markets
No more Lavagna. What’s next for Argentina?

Two weeks ago I would have expected Brazil's Finance Minister to be forced out before Argentina's Finance Minister...   However, Palocci is a close ally of Brazil's Lula; Argentina's …

May 25, 2006

United States
You know, there are safe havens that do not have a current account deficit of $1 trillion …

Incidentally, I am not the only one who thinks that the US current account deficit is heading toward a trillion.   The OECD now forecasts $965b current account deficit in 2006 (7.2% of GDP), and $107…

June 8, 2006

Monetary Policy
You read it here first (Russia is diversifying its reserves)

I have been wrong about enough things that it is nice to be right (or at least sort of right) about something.  Particularly if it is something that I discovered as a result of a lot of sleuthing thr…

October 2, 2008

Financial Markets
Systemic crises

A systemic financial crisis is one that affects the "system" -- not a single institution. In my view, the US -- and perhaps the US and Europe -- are now facing one. Systemic crises aren’t new. …

May 11, 2009

Emerging Markets
Sovereign bailout funds, sovereign development funds, sovereign wealth funds, royal wealth funds …

The classic sovereign wealth fund was an institution that invested a country’s surplus foreign exchange (whether from the buildup of “spare” foreign exchange reserves at the central bank or from the …

March 21, 2011

Politics and Government
Campaign 2012: Hello Tim Pawlenty, GOP Presidential Candidate

Tim Pawlenty speaks during the Iowa Faith and Freedom Coalition's Spring Event on March 8, 2011. (Brian Frank/courtesy Reuters) Only one Big Ten university has ever graduated an American preside…

Tim Pawlenty speaks during the Iowa Faith & Freedom Coalition’s Spring Event at Point of Grace Church in Waukee, Iowa on March 8, 2011.

February 2, 2011

Treaties and Agreements
TWE Remembers: The Treaty of Guadalupe Hidalgo

Today marks the anniversary of the signing of the Treaty of Guadalupe Hidalgo formally ending the Mexican-American War. As you might have guessed, the treaty was signed in Guadalupe Hidalgo, which is…


December 29, 2011

The Top Ten Events that Shook Asia in 2011

The body of North Korean leader Kim Jong-il lies in state at the Kumsusan Memorial Palace in Pyongyang. (KCNA/Courtesy Reuters) If there were one word to describe Asia in 2011, it would likely be tr…

 The body of North Korean leader Kim Jong-il lies in state at the Kumsusan Memorial Palace in Pyongyang.

January 10, 2013

Budget, Debt, and Deficits
Drawing the Wrong Lessons From Argentina’s Debt Mess

The Financial Times  has joined the chorus of those calling for a new statutory sovereign debt restructuring mechanism (SDRM), citing Argentina’s legal battle with holdout creditors as evidence of a …

March 19, 2013

Cyprus: What’s Next?

It now appears that the Cypriot Parliament will reject the government’s amended plan for haircutting deposits. The revised proposal, which reportedly exempted depositors under €20,ooo, satisfies almo…

Cypriots protest the plan to seize money from depositors as a part of a bailout package.