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March 29, 2006

Exit Schumer and Graham, Enter Grassley and Baucus

Schumer-Graham won't be brought to a vote until September.   China's central bank governor Zhou must  be persuasive.  Maybe he plotted out where the RMB will likely be if China continues with…

May 27, 2005

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…

March 9, 2006

United States
Mike Mandel, Ricardo Hausmann and Federico Sturzenegger better be right (January trade data)

I sure hope that the US is exporting a lot of "intangibles" that don't show up in the trade data, and generating lots more intangible dark matter to offset all the external debt that the US is ta…


April 10, 2006

China worries the US may want a “competitive” dollar

Xia Bin, head of the financial research institute at the cabinet's Development Research Centre, didn't use Martin Feldstein's clever term though.  He worries about a weak dollar policy."W…

August 1, 2005

Can China add close to $300 b to its reserves a year and have no impact on the bond market?

Rarely do I disagree with the premise of an article more than with the Mark Whitehouse  Friday C1  Wall Street Journal article "China's Move Makes No Waves in Bond Market." Premise.  China moved…

March 21, 2006

If China doesn’t like US economic policies …

Maybe it should stop financing them. Just a suggestion. At least in my view, Chinese premier Wen's criticism of US economic policy - and US economic scape-goating -- would have a lot more credibi…

January 27, 2006

But what is in the other 50% of China’s basket? Hong Kong dollar?

China's central bank governor Zhou said the dollar accounts for 50% of China's currency basket.  From Market News International:The weighting of the US dollar in the currency basket which Chi…

March 13, 2006

Is it 2003 all over again? What is going on in China?

Data coming out of China continues to confuse.   At least it confuses me. February's trade surplus was smaller than expected.  No big deal.  January's was larger than expected.   The combi…

June 9, 2006

United States
Not quite as bad as I expected (the April trade numbers)

A $63.4b trade deficit isn't small.    But it is a bit smaller than the average $65b deficit of the fourth quarter.  And, in all honesty, I expected a bit higher number.The dog that didn't ba…

July 3, 2006

United States
Paging Michael Mandel. I give up … there isn’t that much to worry about. At least not judging from the 2005 NIIP data.

OK, I am not really ready to give up.  But the 2005 net international investment position (NIIP) data sure didn't provide me much to work with.For a couple of years now I have been warning agains…