The money quote in Bradsher's article in last Friday's New York Times comes from Matthew Crabbe: "The only US-produced items that I can think exist in large quantities in China are dollars bills." …

I will be away from my desk for the next week or so on a business trip.  I'll probably post a bit, modern communications and all.  But I doubt I'll post every day.    I suspect that a couple of the c…

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 euro re…

$64.2 billion is not $68.1 billion.   But it is still kind of large.   Another $65 billion deficit in December, and the annual trade deficit will reach $726 billion.   That works out to a fourth quar…