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January 6, 2005

Financial Markets
Already Conventional Wisdom?

It seems like Asian central bank support for the Treasury market -- and other fixed income markets -- has become part of the conventional wisdom recently. We know Bill Gross has long worried about t…

September 29, 2005

Financial Markets
Has the IMF been asleep at the wheel, and ignored surveillance of exchange rates?

Tim Adams - the new US Treasury Under Secretary - thinks so: IMF Article IV requires that the IMF exercise "firm surveillance" over the exchange rate policies of members. After the collapse of the Br…

January 30, 2007

Financial Markets
Hey big spender (or why conservation is perhaps a bit more than just a personal virtue) ….

In the past, I have noted that oil exporters saved rather than spent the windfall from the surge in oil prices.    The IMF calculated that the average oil producer in the Middle East “spent” 30% and …

oil_price_1302007

September 17, 2007

Financial Markets
The first true twenty-first century financial crisis?

Larry Summers – picking up on a phrase perhaps first used by Michel Camdessus -- liked to call the Mexican crisis the first financial crisis of the 21st century.   Mexico’s decision to exhaust its re…

November 19, 2008

Budget, Debt, and Deficits
There is now little doubt ...

This is the biggest financial crisis since the depression: The stock market is way down (graph from Calculated Risk). And, as we all know, home prices are also down. Doubts remain about the health …

January 14, 2011

Diplomacy and International Institutions
Friday File: Hu Is Coming

U.S. President Barack Obama meets China's President Hu Jintao in Seoul. (Jim Young/courtesy Reuters) Above the Fold. Chinese President Hu Jintao comes to Washington next week for his first vi…

U.S. President Barack Obama meets China’s President Hu Jintao in Seoul

February 18, 2011

Diplomacy and International Institutions
Friday File: Mubarak Is Gone, Now Comes the Hard Part

A family of Egyptian pro-democracy supporters ride on a motorcycle carrying an Egyptian flag after Friday prayers near Tahrir Square in Cairo. (Amr Dalsh/courtesy Reuters) Above the Fold. The TV cam…

A family of Egyptian pro-democracy supporters ride on a motorcycle carrying an Egyptian flag after Friday prayers near Tahrir Square in Cairo

March 21, 2011

Politics and Government
Campaign 2012: Hello Tim Pawlenty, GOP Presidential Candidate

Tim Pawlenty speaks during the Iowa Faith and Freedom Coalition's Spring Event on March 8, 2011. (Brian Frank/courtesy Reuters) Only one Big Ten university has ever graduated an American preside…

Tim Pawlenty speaks during the Iowa Faith & Freedom Coalition’s Spring Event at Point of Grace Church in Waukee, Iowa on March 8, 2011.

April 18, 2011

Politics and Government
Campaign 2012: Hello Rick Santorum, GOP Presidential Candidate

Rick Santorum speaks during the Iowa Faith & Freedom Coalition's Spring Event in Waukee, Iowa March 7, 2011. (Brian Frank/courtesy Reuters) Pennsylvania State University can claim many accomplis…

Rick Santorum speaks during the Iowa Faith & Freedom Coalition’s Spring Event in Waukee, Iowa March 7, 2011.

January 21, 2011

Friday File: Obama 2.0

President Barack Obama and his wife Michelle examine the bible used for his swearing-in ceremony in Washington. (Poll New/courtesy Reuters) Above the Fold. President Obama has reached the halfway po…

U.S. President Barack Obama and his wife Michelle examine the bible used for his swearing-in ceremony in Washington