81 Results for:

July 12, 2005

United States
Don’t worry, be happy. Trade deficits do not matter so long as US household wealth is rising

Michael Mandel thinks I am making a big mistake, albeit a very, very common one - worrying about rising US external debt rather than celebrating rising US household wealth. Brad is making the very…

August 1, 2005

China
Summarizing China in one paragraph …

is hard, but James McGregor gave it a go in the Sunday Washington Post: It is difficult to overstate the transformation that has swept China in the past 15 years. To frame it in terms of comparable h…

December 19, 2005

China
The Chinese conundrum: External (financial) strength, domestic (financial) weakness

I disagree with Michael Mandel on the US current account deficit - I think it is a concern, he doesn't.  We also disagree on the US fiscal deficit.   He doesn't think it is a big problem; I d…

January 13, 2006

United States
On the origins of dark matter

Stephen "Current accounts almost always don't matter" Jen is intrigued by Ricardo Hausmann and Fredrico Struzenegger's discovery of dark matter.   Lots of others are too.   Michael Mandel for…

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February 5, 2006

United States
Is national income accounting biased against the US?

In a fake news classic, Rob Corddry and Jon Stewart of the Daily Show once pondered how to report "the facts" when "the facts themselves were biased."  Michael Mandel seems to think the facts are bia…

February 15, 2006

Economics
Mandel v. Setser. Round two. More on intangible exports and dark matter

I was rather busy last week, so I was not able to respond immediately to Michael Mandel's response to my response to his Business Week cover story - and now Micheal Mandel is shooting for slightl…

February 22, 2006

United States
Shrinking dark matter watch

Or maybe shifting dark matter watch. Via Barry Ritholtz comes news that increasing US investment (according to Mandel) in one key intangible asset - US brands - may be yielding diminishing returns.  …

March 1, 2006

United States
Rising trade deficit financed by fast-growing poor countries watch

Consumption up.   Up by almost 1% in a month.   Consumption continues to grow faster than income.    Household savings, consequently, are down.    Michael Mandel, are you sure you want to argue that …

March 2, 2006

United States
It is official: the current account deficit doesn’t stem from a boom in investment in intangible assets

OK, maybe not official.  But the Economist, drawing on the work of Carol Corrado, Dan Sichel and Charles Hulten, has the key chart.  Check it out. Investment - including investment in intangible asse…

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…

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