Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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June 16, 2006
United States
The first quarter current account statistics are kind to the USA
The 2005 current account deficit was revised down to $791.5b or so.The q1 2006 deficit was $208.7b -- down from $223.1b in q4. We knew the trade balance improved a bit. But the income balance also…
June 6, 2006
China
Yet more evidence China is an outlier
Poor countries tend to have relatively weak currencies – that is, there is a big gap between their currencies' nominal exchange rate and the exchange rate implied by “purchasing power parity.” Or,…
July 28, 2005
United States
Savings is still something other countries do
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…
October 20, 2008
United States
How far will the US trade deficit fall next year?
US exports have been growing faster than non-oil imports for the last two years. The August trade data hints at a slowdown in exports. But at least on a y/y basis, the slowdown remains modest. …
August 10, 2006
United States
The June trade data (a day late)
The take away conclusion from the June data is that not much has changed. The headline trade deficit was unchanged (more or less) from the revised May deficit The US oil import bill was more or le…