I highly recommend Anton Brender and Florence Pisani’s recent monograph, "Globalized finance and its collapse." In a lot of ways, it is something that I wish I could have written. I don’t agree with …

In late 2004 and early 2005, Nouriel and I estimated that the actions of foreign central banks might be holding US yields down by as much as 200 bp. That estimate found its way into Pam Woodall’s Eco…