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November 7, 2004

Financial Markets
Russia and India sour on the dollar?

Reports that Russia and India are selling dollars, as in this FT story, are interesting, even leaving aside the rumors about China. Unless China uses the move to basket to revalue significantly agai…

Blog Post by Brad W. Setser Follow the Money

November 11, 2004

Korea blinks, rejoins the dollar block

Or so the FT reports. The Bank of Korea seems to have concluded the Korean won was strong enough and bought dollars/ sold won to limit the won’s appreciation. And the Bank of Korea may not have bee…

Blog Post by Brad W. Setser Follow the Money

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 …

Blog Post by Brad W. Setser Follow the Money

November 15, 2004

Where are George Soros and the other macro hedge funds?

With apologies to Philip Coggan, I plagarized his FT headline from a few days ago -- he asked the same question as Brad DeLong, namely, why aren’t big bets from big macro hedge funds driving the doll…

Blog Post by Brad W. Setser Follow the Money

November 18, 2004

Taking away the punch bowl when the party is really getting going?

That is the classic view of the role of the central bank. It extends beyond using monetary policy to prevent "overheating" and price inflation. Most central bank regulate the banking system, and si…

Blog Post by Brad W. Setser Follow the Money