Last night, Vice President Cheney claimed that US allies were contributing $80 billion to the war in Iraq by providing Iraq with debt relief. He compared this $80 billion in debt relief to the cash …

One of the world’s ironies is that even as John Snow putters on about how currency values should be set by market forces, the market -- or at least the private market -- is now playing a comparativel…

Monday’s FT had the story, drawing on this just released BIS report. It seems OPEC countries are holding fewer dollars and more euros in their external bank accounts. (Thanks to Marcel for alerting…

My harping on the fact that US economic policy now has to pass a global test is not simply meant to score rhetorical points. I suspect that the same folks who financed the expansion of the US curren…

I do not expect to consistently agree with the oped page of the Wall Street Journal. But I do not think it is too much to ask that the columnists on oped page of the Journal try to square their argu…