Max Sawicky noted that key source of recent job creation in the capitalist United States has been the US government, which itself is financed, in no small part by the People's Bank of China.  The ex-…

The trade deficit (ex-oil) was thought to be on a downward trajectory.     But after today’s data, that argument may need to be reconsidered. I have been a bit more cautious than most in pre…

Apparently, the US fiscal deficit is set to disappear and the US current account deficit has peaked.  At least it has in Stephen Jen-land.  In his latest email Jen writes: “US’s corporate revenues ar…

Privatizing (or eliminating) social security and eliminating the United States remaining barriers to trade fit together well in theory.   Both consistent with a philosophy of reducing the government'…

Bernanke's comment didn't rub me the wrong way (more on that later), but it certainly hit a nerve elsewhere.   I suspect the Treasury -- which wants China to appreciate as much as anyone -- was among…