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…
February 21, 2005
Budget, Debt, and DeficitsThe 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…
March 9, 2005
Monetary PolicyThe 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…
May 12, 2005
United StatesThe 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…
July 12, 2005
United StatesMichael 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…
July 21, 2005
But the change against the dollar is small. Very small. Too small in my view to have much of an economic impact, in any way. On trade flows. Or on capital flows. I would still bet on a furth…