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November 13, 2004

Budget, Debt, and Deficits
Will partial privatization of social security pass the global test?

This post is primarily about the implications of partial privatization of social security on the budget, not about its overall merits. For what it is worth, I personally think good old pay-as-you-go …

November 3, 2004

Economics
the best recovery money can buy

One interpretation of the results of the US election is that Ray Fair’s model (am having trouble with the interface, so no link -- it is available on nouriel’s web page in the elections section) was …

November 20, 2004

United States
Large Players in Large Markets

One of the world’s ironies is that even as John Snow putters on about how currency values should be set by market forces, the market -- or at least the private market -- is now playing a comparativel…

December 7, 2004

United States
No Warm Glow from the Nobel Prize Here

Or more precisely, one of this year’s Nobel Prize winners in Economics seems to disagree with parts of the analysis Nouriel and I have been putting forward. It seems like Nouriel and I don’t underst…

November 8, 2004

Pepsi is no longer red, white and blue

Buried deep within the Scott Kilman’s Monday WSJ article on rising food imports is the following gem:"Much of the Pepsi-Cola sold in the US is made from concentrate imported from places such as Irela…

December 22, 2004

Politics and Government
A modest proposal of my own

My modest proposal: anyone writing about Social Security should have to pass a test demonstrating that they have read the Social Securities trustees report, and understand the basic dynamics of a sys…

December 5, 2004

The borrower industrial complex

Sunday’s New York Times article on US consumer culture -- and its financial enablers -- has a domestic focus. But doesn’t the term "borrower-industrial complex" describe American’s relationship with…

December 8, 2004

Budget, Debt, and Deficits
The central bank bid

It seems like America’s biggest creditors stepped up to the plate today. China’s rapidly growing reserves have to go somewhere ... From Bloomberg:"So-called indirect bidders, which include the forei…

February 17, 2005

The Achilles Heel of Cowboyeconomics

The Wall Street Journal says everyone in the world would benefit from a dose of Cowboyeconomics. You know, exporting tons of debt, to support consumption growth well in excess of income growth ... …

January 9, 2005

Financial Markets
The price of a European vacation

As readers of this blog no doubt know, the dollar rallied v. the euro last week. Not that most of America noticed. In much of America’s heartland, the dollar’s value does not make the financial new…