Somehow, all three are linked together today in my mind. And at some level, they do all connect. As Martin Wolf notes, Asia’s current account surplus (savings surplus) shows up in the phenomenal gr…

It seems to me that there are three big risks - the result of what economists like to call imbalances -- hanging over the global economy, even leaving aside the possibility of an old fashioned oil su…

The Wall Street Journal oped page clearly has discovered the joys of post-modernism. Facts are a social construction -- and inconvenient facts can be changed to fit your preferred narrative.That is…

Brad DeLong and the folks over at Angry Bear have already beat up on this rather ridiculous Donald Luskin argument that the US does not take on debt when it runs a trade deficit.   I hardly need to …

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 health…