Alas, this list is rather long.   There is a reason why Mike Dooley ended the first segment of our Econoblog debate by noting that he had been right (and I and other worry warts had been wrong) for 2…

$65.7b in December$198.2 b for the fourth quarter$725.8 b for the year.Big numbers, all.The roughly $200b fourth quarter trade deficit was about as big as the $200 b quarterly current account deficit…

An anonymous partner at a mid-sized London hedge fund expressed something I was trying to say a couple of weeks ago fair better than I could have.   From the Financial Times: "A lot of managers…

China will have a current account surplus of over $200b this year.  China has about 1.3 billion people.   The GCC countries (Saudi Arabia and the small states on the Gulf) will also have a current ac…

That at least is what the market seems to think.  The carry trade has bounced back. The Australian dollar -- a high carry currency -- is setting new highs (v. the US dollar at least).  The kiwi has r…