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March 29, 2005

United States
Too big to behave rashly

According to Andrew Samwick, the world’s central banks are too big to behave rashly. As he puts it: "We’re too big an economy, and our creditors’ portfolio holdings are simply too large for them to …

July 6, 2005

Worrying about debt to China

Jesse Eisinger has a nice Long and Short column exploring CNOOC’s bid for Unocal in the Wall Street Journal. I liked this quote from Lehman’s Ethan Harris:The Cnooc bid "strikes people that we really…

November 17, 2005

Can the Pentagon balance Chinese power …

with money the Treasury borrows from China?  Ok, China, Russia and Saudi Arabia ... The answer so far has been yes.   The Pentagon - or at least influential voices in the Pentagon - want to discoura…

September 6, 2005

Capital Flows
Is Iraq an economic success? (What is Patrick Clawson thinking?)

I think it is fair to say that I see the world - and Iraq's economy -- very differently than Patrick Clawson.  Clawson argues in the New Republic that Iraq currently is financing most of its own …

July 24, 2007

Monetary Policy
Voldemort’s invisibility cloak

There is something about SAFE -- maybe the fact that its full name, the State Administration of Foreign Exchange, seems to come straight from the Ministry of (Bureaucratic) Magic --  that seems to in…

July 20, 2007

Financial Markets
Oil and the dollar

Oil is once again quite strong.    Last summers’ rally was driven in part by a rise the geopolitical risk premium.   This summers’ rally seems a product of both strong global growth and relatively re…

March 20, 2008

Petrodollars: How to Spend It

Rachel ZiembaNote: This post is by Rachel Ziemba, filling in for Brad Setser Despite the fact that the price of oil and in fact almost all commodities has slid in recent days, they are up substantial…


November 18, 2010

Politics and Government
The Gauntlet Is Thrown Down

Walking by Westminster this morning I was reminded of the grandeur of democracy.  Watching the battle back in Washington over the New START Treaty, I am reminded that democratic practice is often m…

The Gauntlet Is Thrown Down

January 25, 2011

Congresses and Parliaments
Watching the State of the Union Address

President Obama walks along the White House Colonnade today in Washington. (Larry Downing/courtesy Reuters) President Obama goes before a joint session of Congress at 9 p.m. tonight to deliver the S…

President Obama walks along the White House Colonnade today in Washington.

December 20, 2010

Politics and Government
Killer Amendments Die

The New START Treaty made it through the weekend intact. Opponents offered two so-called killer amendments, and both failed to get fifty-one votes. (A treaty needs sixty-seven votes to pass the Se…

Killer Amendments Die