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August 4, 2005

Capital Flows
Nation Building 101

Make sure the army gets paid on time.The reformed Iraqi Ministry of Defense, a crucial element of any American plan to withdraw troops, is riddled with crippling problems that have raised concerns ab…

April 25, 2007

Economics
Five observations: all loosely tied to yen and dollar weakness and the swelling coffers of the emerging world

One. Yes, Virginia, exchange rates do matter … Japan’s trade surplus is rising.  Its current account surplus should be rising even more, as its interest income should be increasing too.   The MoF is …

investment_funds

August 5, 2007

Budget, Debt, and Deficits
Taxing the kings of private equity like the rest of us

Cheers to the New York Times,  the Financial Times, the Economist,  Charlie Rangel, Robert Rubin, Alan Blinder, Paul Krugman, Warren Buffet (I think it is implied here), Bill Gross, Greg Mankiw (extr…

January 10, 2008

Emerging Markets
Shanghai, Mumbai, Dubai or goodbye. The year of reverse bailouts

Shanghai, Mumbai, Dubai doesn’t really quite work. The CIC is in Beijing, not Shanghai. Singapore has committed more funds to troubled banks than Mumbai. Abu Dhabi, Saudi Arabia and Kuwait have a …

January 24, 2008

Financial Markets
Property without power?

Diplomatic sovereign wealth funds argue, more or less, that they have no desire for power - so there should be no restrictions on their ability to accumulate property. Those hoping for a cut of the S…