9,515 Results for:

September 14, 2004

Economics
Welcome to My Blog…

Welcome. I am Nouriel’s co-conspirator on several of his recent articles, and I’ll be adding my voice to this site as well.Obviously, Nouriel and I do not disagree on much. But we do have different…

September 16, 2004

United States
Growing out of the trade deficit

The U.S. government’s spin on the widening trade deficit is that it reflects a growth deficit in the rest of the world. This spin does not hold up well. All parts of the world other than Europe are…

September 20, 2004

Budget, Debt, and Deficits
Who is in more financial trouble: social security or the rest of the government?

There is a common sense that social security is bankrupt and people now in their 20s and 30s won’t get anything from it. That is false. Social security can fund all projected benefits until someti…

September 21, 2004

Emerging Markets
The IMF has refused to bailout bond holders before Argentina!

Adam Thomson of the FT has an interesting article arguing that Argentina’s bond restructuring could succeed if Argentina is willing to offer bondholders 30 cents on the dollar, only a bit more than t…

September 23, 2004

United States
The currency strategist at Morgan Stanley might want to talk to the chief economist at Morgan Stanley

Steve Johnson’s market insight column in Thursday’s Financial Times keys off Morgan Stanley’s currency strategist Stephen Jen’s argument that "As long as Asia insists on staying inside this dollar ar…

October 6, 2004

Capital Flows
Cheney is wrong: $80 billion in debt relief if not equal to $80 billion in cash

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 …

October 8, 2004

Capital Flows
Find a way to spend the $18 billion in Iraq!

I have a certain interest in the topic, since in my first and so far only foray into oped writing, I supported the Bush Administration’s call for $20 billion in US grant aid for Iraq (in the end, con…

October 18, 2004

Financial Markets
Guess why Treasury did not issue the foreign exchange report?

The Treasury did not issue the foreign exchange report on Friday. Presumably, this is because it would have made the same set of arguments that last year’s report made, namely that China is not mani…

October 20, 2004

Capital Flows
The IMF staff report on Iraq is a goldmine

I don’t expect many journalists will delve into it, but the IMF staff report on Iraq is a fountain of information. My favorite number: in 2004, the amount Iraq will spend importing (yes, importing) …

October 22, 2004

United States
How Bush budget deficits ended up hurting Ohio

Ronald McKinnon has an interesting argument in yesterday’s Financial Times (based on this policy brief), namely that manufacturing workers are paying for low US private savings and large US budget de…