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…

I think anyone who visits Dubai right now is bound to be dumbstruck by the sheer scale of the construction.  It, quite honestly, puts anything I saw in China in early 2005 to shame.   To the naked ey…

The GCC leaders didn't agree to change the GCC's peg to the dollar, but the issue is not dead.  Ahmet Akarli of Goldman writes: Bahrain Foreign Minister Al-Khalifa told Reuters on Sunday that the GC…

Creditors through the ages haven’t liked to take policy advice from debtors. They generally tend to think that borrowers should listen to the advice offered by those lending them money. And they…

There is a real risk that the worst financial crisis since the 30s will lead to the sharpest global downturn since the 1930s. The latest ISM survey is rather grim. The New York Times reports: …