Take a look at this Washington Post article by Jonathan Weisman, which the big blogs have justly pounced on. The initial framing of Weisman’s article is just way, way off. Social security in no way…

We now know the trade deficit hit $618 billion for the year (5.35% of GDP) Exports: $1146 billionImports: $1764 billionThe good news in December was the uptick in exports; the bad news was that the f…

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…