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March 4, 2005

Emerging Markets
A few lessons for Mary Anastasia O Grady

I do not expect to consistently agree with the oped page of the Wall Street Journal. But I do not think it is too much to ask that the columnists on oped page of the Journal try to square their argu…

March 9, 2005

United States
Beware, should Norway ever diversify its petroleum fund: more than you want to know about the market for US debt

The fastest growing US export: Debt, without a doubt.Exports of long-term debt securities have grown from $404.5 billion in 2001 to $890 billion in 2004. That is an impressive 120% increase over fou…

May 27, 2005

Economics
Housing bubbles, the great plains and the coast

Not all parts of America are enjoying a housing bubble. $65,000 will buy a brick home with three bedrooms and a two car garage in Stafford Kansas, though maybe not ten acres of prairie as well. Low…

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…

August 26, 2005

United States
Dollar crashes, interest rates fall?

Alan Greenspan's legacy may hinge on whether that headline is written, or whether the headline reads: "Dollar crashes, interest rates surge." From Reuters:Although a dollar crash is unlikely anytime …