The Big Picture is right.  China's growth numbers are not to be trusted.   China's growth almost certainly slowed more than the government acknowledged in say 1998 and 1999, after the Asian crisis.  …

Brad DeLong seems to have dug up what Dr. Bernanke thought about fiscal deficits before he discovered the global savings glut ...  namely, structural fiscal deficits tend to raise real interest rates…

Sebastian Mallaby had an interesting column in last Monday's Washington Post.   Mallaby highlights what he calls the biggest economic argument of the day -- namely, what role does the government have…

The money quote in Bradsher's article in last Friday's New York Times comes from Matthew Crabbe: "The only US-produced items that I can think exist in large quantities in China are dollars bills." …