Greenspan does not think a revaluation of the RMB would have a major impact on the US trade balance.The Fed does not think that reducing the fiscal deficit would generate a major reduction in the cur…

China indicated its reserves have increased to $711 billion at the end of June -- up $101 billion from the end of December 2004. Actually, they are up more than that. China transferred $15 billion …

Which is good, because it looks like the US will need more of the world's savings to finance a pick up in investment.  The US housing market.  Still strong.  Record sales of new homes in June.  US r…

The June trade deficit -- $58.8 billion -- was a bit bigger than the market expected, and quite a bit bigger than the May deficit ($55.4 b).   Annualized, it works out to a $706 billion trade deficit…

Low yields in advanced economies lead capital (private capital that is) to head to emerging markets looking for yield.    Emerging markets - whether scared by the crisis that followed the sudden with…