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June 21, 2005

Emerging Markets
Fantasy based opeds in the Wall Street Journal

The Wall Street Journal oped page clearly has discovered the joys of post-modernism. Facts are a social construction -- and inconvenient facts can be changed to fit your preferred narrative.That is…

October 2, 2005

Europe
Germany 1, France 0? Plus some musings about the politics of globalization

I agreed with a lot of what Fareed Zakaria wrote about Germany - certainly I would agree that Germany has done a lot more reform than France over the past few years.Compare Germany with France. In Ge…

November 28, 2005

China
China still pegs to the dollar …

And it intervenes in a big way in both the spot and the forward market.  But it doesn't manipulate its currency.  At least not technically.   The US Treasury - in a widely telegraphed move - deci…

November 21, 2005

Economics
Quick summary of the weekend papers

Koreans save; Californians do not - but they do want to sell real estate.  And autoworkers in Michigan and Ohio should not count on being part of the American middle class for much longer.   Delp…

July 18, 2006

United States
Do not forget about Norway - but also don’t put too much weight on the details of the TIC data.

The May surprise in the TIC data:  foreign central banks withdrew financing from the US.  The sold more Treasuries (14.3b) than they bought Agencies and corporate debt.  Net central bank flows into l…

October 24, 2008

Financial Markets
At least London is affordable again

When the pound falls more in a week than it did during the week of Black Wednesday, the week when Soros famously "broke the Bank of England," you know big changes are afoot. Bloomberg reports: Toda…

February 26, 2009

Monetary Policy
Who bought all the Treasuries the US issued in 2008? And who will be the big buyers in 2009?

And just how important is China -- clearly now the largest single holder of Treasury bonds -- to the market? Both questions matter more than ever -- to the market, and to the US government. …

Who bought all the Treasuries the US issued in 2008?  And who will be the big buyers in 2009?

November 13, 2010

Myanmar
Suu Kyi’s Release: What Does it Mean?

The release today of Myanmar opposition leader Aung San Suu Kyi, probably the world’s most famous political prisoner (Liu Xiaobo now will hold that honor) has been greeted with acclaim and joy in Y…

Aung San Suu Kyi addresses supporters outside the headquarters of her National League for Democracy party in Yangon

January 20, 2011

Politics and Government
The Calculations of Tunisia’s Military

Tunisian army soldier stands in front of the headquarters of the Constitutional Democratic Rally party of ousted president Zine al-Abidine Ben Ali during a demonstration in Tunis on January 20, 2011 …

The Calculations of Tunisia’s Military

April 26, 2011

Politics and Government
Campaign 2012: Hello Ron Paul, GOP Presidential Candidate

Rep. Ron Paul visits a polling station in Manchester, New Hampshire on January 8, 2008. (Jim Young/courtesy Reuters) The third time is the charm. That’s at least what Ron Paul hopes. An unsuccessful…

Republican presidential candidate Texas Rep. Ron Paul visits a polling station in Manchester, New Hampshire January 8, 2008. (Jim Young/courtesy Reuters)