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September 23, 2004

United States
US Treasury was for a global growth deficit before it was against it

The U.S. Treasury needs to get its talking points straight. It is hard for the Treasury to argue that the world economy is doing very, very well (the IMF forecasts global growth to be at a 30 year h…

September 23, 2004

United States
The currency strategist at Morgan Stanley might want to talk to the chief economist at Morgan Stanley

Steve Johnson’s market insight column in Thursday’s Financial Times keys off Morgan Stanley’s currency strategist Stephen Jen’s argument that "As long as Asia insists on staying inside this dollar ar…

October 18, 2004

Financial Markets
Guess why Treasury did not issue the foreign exchange report?

The Treasury did not issue the foreign exchange report on Friday. Presumably, this is because it would have made the same set of arguments that last year’s report made, namely that China is not mani…

October 22, 2004

United States
How Bush budget deficits ended up hurting Ohio

Ronald McKinnon has an interesting argument in yesterday’s Financial Times (based on this policy brief), namely that manufacturing workers are paying for low US private savings and large US budget de…

October 25, 2004

DeLong on the global economy

DeLong’s powerpoint notes are certainly worth checking out. The side by side graphs showing real GDP growth and then employment growth (or the lack thereof) elegantly tell the story of the 2002-2004…