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April 17, 2005

Economics
A few things Europe does (relatively) well

Some Europeans enjoy taking a few rhetorical pot shots at America every now and then. More and more Americans enjoy reciprocating.I suspect that US criticism of Europe will step up a gear in the nea…

May 27, 2005

United States
Bretton Woods Two and Trade Politics

The interest rate on the 10 year Treasury note is somewhere between 4.0-4.1% -- and the US seems to be having no trouble financing its current account (or its budget) deficit right now. The risk of…

June 30, 2005

Capital Flows
CNOOC (once again)

The CNOOC bid presumably is motivated by two things. One, Beijing has plenty of cash, and already holds more Treasuries than it wants, so it wants to diversify its portfolio. As I argued earlier, C…

December 8, 2004

Politics and Government
Damaged Snow

If you were John Snow, would you stay knowing that you were at best the President’s second choice?Do DC’s conservative activists really value tax cuts more than financial stability? And does their op…

January 24, 2005

Budget, Debt, and Deficits
Hubbard is in pole position: the Sunday New York Time buried the lede

Apparently the Federal Reserve is beginning to worry that the Administration is not all that serious about reducing the fiscal deficit ... Wonder why. It seems like Martin Feldstein’s concerns abou…

March 23, 2005

Financial Markets
Lucky that the dollar is in the midst of a mini-rally …

Because if the dollar was heading the other way, as the New York Times noted Wednesday morning, there is no one left at the Treasury to mind the store. Under Secretary for International Affairs John…

May 16, 2005

Economics
Cows, calves and the interest rate

Trackback is a dangerous thing. I just have learned that some of my blog posts have been compared to modernist poems. No doubt my last couple of posts have been a bit of a slog, heavy on both data…

March 22, 2005

Economics
What did I miss?

Let’s see.Paul Wolfowitz looks set to take over the World Bank. Oil is a bit over $56. That is not low, by any measure. I remember how much concern there was last summer when oil broke $40.The cur…

July 27, 2005

China
Forget Unocal. China really wants Intel

At least that is what "John Rutledge, a former economic adviser to President Bush" thinks.  To maintain its competitive advantage, Chinese companies must acquire technology that will make the country…

September 4, 2005

China
If it is still a dollar peg, where is the monetary policy flexiblity?

I rarely agree with Steven "trade deficits do not matter" Jen.   His models for G3 exchange rate determination leave out a variable - the pace at which the US is adding to its external debt and its r…