1,580 Results for:

September 20, 2004

Budget, Debt, and Deficits
Who is in more financial trouble: social security or the rest of the government?

There is a common sense that social security is bankrupt and people now in their 20s and 30s won’t get anything from it. That is false. Social security can fund all projected benefits until someti…

September 21, 2004

Emerging Markets
The IMF has refused to bailout bond holders before Argentina!

Adam Thomson of the FT has an interesting article arguing that Argentina’s bond restructuring could succeed if Argentina is willing to offer bondholders 30 cents on the dollar, only a bit more than t…

September 23, 2004

United States
The currency strategist at Morgan Stanley might want to talk to the chief economist at Morgan Stanley

Steve Johnson’s market insight column in Thursday’s Financial Times keys off Morgan Stanley’s currency strategist Stephen Jen’s argument that "As long as Asia insists on staying inside this dollar ar…

October 8, 2004

Economics
No jobs, No WMD, No Osama

By the criteria the Bush Administration set for itself in 2002 (and perhaps early 2003), the past two years can hardly be judged a success. Osama is still wanted, dead or alive. It turns out that S…

October 20, 2004

Capital Flows
The IMF staff report on Iraq is a goldmine

I don’t expect many journalists will delve into it, but the IMF staff report on Iraq is a fountain of information. My favorite number: in 2004, the amount Iraq will spend importing (yes, importing) …

November 6, 2004

Will Japan be able to stay on the sidelines for long?

Some facts: 1) In 2003, Japan increased its reserves by $200 billion, emerging Asia by $245 billion. The world as whole increased its reserves by $500 billion, so Asia accounted for most of the worl…

November 20, 2004

Politics and Government
Optimist or Ostrich?

For those who want dispassionate economic analysis devoid of politics, read no further. Wait for my next dollar post. This is a center-left response to the Lexington column in this week’s Economist…

November 24, 2004

Financial Markets
Chinese yuan hits new low against euro, swiss franc, pound …

Just a reminder of what falling dollar currently means. Dollar depreciation is clearly part of what is needed to bring the US trade deficit down to a more sustainable level. But what is the case fo…

November 29, 2004

Financial Markets
Where is China keeping its reserves …

It is not too hard to figure out what Japan is doing with its reserves. From the beginning of 2003 to September 2004, Japan’s official reserves increased by $360 billion. Over that time frame, Japan…

November 30, 2004

United States
Their savings, our problem?

It seems like American households are now saving about a penny of every dollar they earn, and recently even less. Foreigners exporting to the US, in contrast, save roughly 35 cents of every dollar …