Or more precisely, one of this year’s Nobel Prize winners in Economics seems to disagree with parts of the analysis Nouriel and I have been putting forward. It seems like Nouriel and I don’t underst…

Listen to one Chinese fund manager in this morning's Wall Street Journal:  "Mr. Zhu (who helps manage US dollar investments for the Bank of China) expresses confidence in the US dollar and the he…

One of the things that has fascinated me is that US-Latin America relations have soured so much under Bush's watch.  I think I am fascinated in part because I don't really buy the standard ex…

The standard discussion of the unbalanced world divies the world up into three: the US, Europe and Japan/ Asia.   And the standard discussion of global imbalances says all three need to do their part…

Max Sawicky noted that key source of recent job creation in the capitalist United States has been the US government, which itself is financed, in no small part by the People's Bank of China.  The…

Schumer-Graham won't be brought to a vote until September.   China's central bank governor Zhou must  be persuasive.  Maybe he plotted out where the RMB will likely be if China continues with…

Is the lesson of the most recent bout of turmoil in the emerging world “emerging market economies have changed, but the markets have not”?How have emerging economies changed since 1997, the last time…

Poor countries tend to have relatively weak currencies – that is, there is a big gap between their currencies' nominal exchange rate and the exchange rate implied by “purchasing power parity.”  …

Last week I was beginning to think the IMF might be back in business.   A couple of press reports hinted that Lebanon’s central bank was facing real pressure.    Folks fleeing the country wanted doll…