Kash provides a pithy summary of the state of the US economy:"the US economy has slowly been evolving from a goods-producing economy into a house-producing economy"I suspect Calculated Risk would con…

Alan Greenspan says there is no national bubble, just pockets of local froth. Or to the housing sector’s in house economists, just a few healthy suds floating on top of a healthy market. Then again,…

Oil closed above $58 a barrel on Friday. That’s kind of high. Kevin Drum nicely summarizes the range of explanations that have been put forward to explain oil’s recent rise. I tend to agree with h…

Low yields in advanced economies lead capital (private capital that is) to head to emerging markets looking for yield.    Emerging markets - whether scared by the crisis that followed the sudden with…

The world has too many currencies.   The dollar is too good a currency not to be shared.    The US has a clear comparative advantage in central banking.   National pride - and a desire to maintain "m…