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December 29, 2004

If you cannot beat em, join em

Daniel Gross’s article on the currency preferences of the world’s underworld is too good not to link to. It seems like the world’s drug lords are less willing than the People’s Bank of China to fina…

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…

December 8, 2004

Politics and Government
Damaged Snow

If you were John Snow, would you stay knowing that you were at best the President’s second choice?Do DC’s conservative activists really value tax cuts more than financial stability? And does their op…

June 19, 2005

China
Two articles on China. One good. One not so good.

Reuters has done a nice wrap up of what we know -- and more importantly what we don’t know -- about how China manages its reserves. They correctly note that the TIC data misses so much that it, alon…

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…

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…

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…

September 11, 2005

Budget, Debt, and Deficits
Is John Snow going to be among Katrina’s (political) casualties?

Mike Allen of Time (formerly Mike Allen of the Washington Post) seems to think so.  Or at least he is starting hear whispers.It seems that the White House's post-Katrina political strategy consis…

January 19, 2006

Financial Markets
The global flow of oil

The health of the US economy - and for that matter the world economy - hinges on the sustained flow of capital from the world's emerging economies to the US.   The health of the US economy also d…

March 26, 2006

Monetary Policy
Summers on reserves, exchange rates, the international financial architecture and other big topics close to my heart

Larry Summers has always believed that capital should flow from the already rich and aging societies that constitute the current core of the world economy to the poor and young countries on the perip…