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June 21, 2005

Emerging Markets
Fantasy based opeds in the Wall Street Journal

The Wall Street Journal oped page clearly has discovered the joys of post-modernism. Facts are a social construction -- and inconvenient facts can be changed to fit your preferred narrative.That is…

September 13, 2005

China
Time to change the way we think about the world

China's  August goods exports: $68 billion US July goods exports: $75 billion China should start exporting more goods than the USA in late 2005/ early 2006.  That is rather impressive.  It means…

December 30, 2005

Economics
Things I got wrong in 2005

Alas, this list is rather long.   There is a reason why Mike Dooley ended the first segment of our Econoblog debate by noting that he had been right (and I and other worry warts had been wrong) for 2…

October 28, 2005

United States
Yet more on Bernanke and the savings glut

Brad DeLong seems to have dug up what Dr. Bernanke thought about fiscal deficits before he discovered the global savings glut ...  namely, structural fiscal deficits tend to raise real interest rates…

March 1, 2006

United States
Rising trade deficit financed by fast-growing poor countries watch

Consumption up.   Up by almost 1% in a month.   Consumption continues to grow faster than income.    Household savings, consequently, are down.    Michael Mandel, are you sure you want to argue that …

March 18, 2006

United States
What Geithner said. And then some

Most of the blogosphere has already weighed in on Tim Geithner's most recent speech.   I am a bit late to the party.   And I may not have much to add. I deeply agree with Geithner's argument…

June 30, 2006

United States
DeLong is right. If the US wants to end up like Australia, US trade deficit needs to fall - unless foreigners continue to do terribly on their investments in the US.

As Brad Delong notes, the big difference between the United States and Australia is that the United States has a  trade and transfers deficit of close to 7% of GDP.    That implies – assuming the sto…

us_net_international_invest

September 21, 2006

China
Why China’s $1 trillion in reserves are unlikely to be of much use in a banking crisis

It is rather hard to read Andrew Browne’s report of the building boom in Zhengzhou in last week’s Wall Street Journal --- or for that matter many other accounts of China’s current investment boom – a…

October 18, 2005

Financial Markets
This week’s WSJ Econoblog is on Bretton Woods II

Mike Dooley of Deutsche Bank and UCSB makes the case that the new Bretton Woods system of fixed or heavily managed exchange rates on the "periphery" makes large (though not necessarily growing) curre…

October 17, 2006

China
A trillion dollars here, a trillion there and pretty soon you are talking about real money

I have written extensively about China and Chinese reserve growth recently. So I won’t use Tuesday’s Wall Street Journal article as the spring board for another long post.  Just a sort of long post.T…