The Koreans, I suspect, let the cat out of the bag. Korea knows the value of reserves, and the risks of holding too few reserves. Indeed, absent an IMF loan and a last-second deal with their credit…

Brad DeLong is rather skilled at squeezing the fat off a post, and then creating something that is sharper, more succinct and often far better than the initial post. I know. He does it to me every n…

Read Martin Wolf’s latest column. His focus on emerging economies -- particularly in Asia -- is dead on. The "glut" of global savings originates there, far more than in Europe. The Euro zone’s cur…

The number of hedge funds is about the only thing that has been rising faster than the price of residential real estate (at least in some markets). Probably not a coincidence: hedge funds and real e…

If the US wanted to fund its current account deficit by selling equity, it would need to sell off the equivalent of 40 Unocal’s a year -- whether Chinese state firms, European firms, Japanese insurer…