The US borrows about 1/5 of all the money the federal government spends, and most of the borrowed money comes from abroad: foreign purchases of Treasuries in 2004 exceeded the (net) issuance of Treas…

A less kind headline might be "Asian policy makers meet, agree to continue manipulating foreign exchange markets" Still, this Bloomberg article (link thanks to Calculated Risk) suggests that there ma…

Altogether, the circumstances seem to be as dangerous and intractable as any I can remember, and I can remember quite a lot. What really concerns me is that there seems to be so little willingness o…

The IMF has about $200 billion that it can lend out. About $75 b is currently lent out, mostly to Brazil, Turkey and Argentina (data link), leaving a bit over $100 billion that could be lent out in …

Having laid out the problem on Monday, Martin Wolf offers his solutions in tomorrow’s Financial Times. He presents three answers to the question "what is to be done"One answer is: nothing. Let each c…