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…
November 11, 2004
That alone ought to catch your attention. Whether talking about the US (needs Chinese financing), Latin America (needs Chinese demand for its commodities) or Europe (needs China to lets its exchange…
November 13, 2004
Budget, Debt, and DeficitsThis post is primarily about the implications of partial privatization of social security on the budget, not about its overall merits. For what it is worth, I personally think good old pay-as-you-go …
November 19, 2004
Alan Greenspan’s comments on the US twin deficits are getting lots of play. Just saying that at some point foreign appetite for US assets is likely to diminish and won’t stay at its current strong p…
November 21, 2004
Capital FlowsGetting agreement from the Paris Club creditors to write off 80% (in stages) of the $40 billion or so that Iraq owes them is no doubt a good thing -- not the least because it lets the US (and Iraq) p…
November 28, 2004
Budget, Debt, and DeficitsThe typical price of irresponsible fiscal policy is higher long-term interest rates.U.S. fiscal policy has been, in my view, somewhat irresponsible, particularly given the lack of private savings in …