Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
September 23, 2004
United StatesSteve 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 18, 2004
Financial MarketsThe 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…
November 13, 2004
Budget, Debt, and DeficitsThis post is primarily about the implications of partial privatization of social security on the budget, not about its overall merits. For what it is worth, I personally think good old pay-as-you-go …
November 19, 2004
Alan Greenspan’s comments on the US twin deficits are getting lots of play. Just saying that at some point foreign appetite for US assets is likely to diminish and won’t stay at its current strong p…
November 24, 2004
Financial MarketsJust a reminder of what falling dollar currently means. Dollar depreciation is clearly part of what is needed to bring the US trade deficit down to a more sustainable level. But what is the case fo…