Or at least talked to Summers and Rogoff, before writing his Thursday Wall Street Journal column. It is worth reading if you have access to the Journal. I agree with his bottom line: getting out of…

The Washington Post put out an oped on the partial privatization of Social Security over the weekend, which Kevin Drum appropriately jumped on.One item in the oped jumped out at me:The second risk i…

The dollar is under a bit of pressure today. The renminbi keeps falling too. The logic behind China’s tight peg to the dollar continues to elude me. The US dollar needs to depreciate as part of an…

The market seems to have concluded that there is no need to put any pressure on the US to reduce its large external deficits. The dollar is up, at least against the euro. So is the renminbi for th…

Michael Mandel thinks I am making a big mistake, albeit a very, very common one - worrying about rising US external debt rather than celebrating rising US household wealth. Brad is making the very…