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January 24, 2005

Budget, Debt, and Deficits
Hubbard is in pole position: the Sunday New York Time buried the lede

Apparently the Federal Reserve is beginning to worry that the Administration is not all that serious about reducing the fiscal deficit ... Wonder why. It seems like Martin Feldstein’s concerns abou…

December 30, 2005

Economics
Things I got wrong in 2005

Alas, this list is rather long.   There is a reason why Mike Dooley ended the first segment of our Econoblog debate by noting that he had been right (and I and other worry warts had been wrong) for 2…

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.  …

February 8, 2006

Monetary Policy
The central bank (and oil fund) bid

I am constantly amazed by the concern well paid Wall Street economists display for poor Chinese peasants.    China, you see, cannot revalue the RMB without devastating rural China.  A revalued RMB wo…

April 10, 2006

China
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…

December 21, 2005

Monetary Policy
Just what are the world’s central banks doing with their (growing) reserves

The IMF just released new quarterly data on global reserve accumulation (Hat tip, Menzie Chinn).   Just don't look to it to find out if the world's central banks are adding to their dollar or…

February 13, 2006

Monetary Policy
It is back. Bretton Woods 2 (central bank financing of the US)

Some would say it never really went away.Emerging market economies did not stop accumulating reserves in 2005.  Best I can tell, adjusting for valuation effects and including all the foreign assets o…

January 3, 2006

United States
Tyler Cowen take note - dollar pessimism may no longer be fully “priced” in

Tyler Cowen has argued that big shocks come when markets are surprised, and, right now, no one would be surprised by a dollar decline.  People like me (and others with a wee bit higher profile) have …

September 15, 2005

Europe
Why is consumer demand so weak in Germany?

David Wessel writes in today's Wall Street Journal: "Germany, alas, is showing few signs of a Japanese style rebound.  It is, essentially, relying on lower wages to make exports more competitive …

March 28, 2006

Financial Markets
Iceland: Déjà vu all over again

Currency falls sharply.Foreign banks cut credit lines. "Last week ... US investors refused to roll over loans to the country's top three banks." (FT)Local banks argue that they only thing to fear…