Altogether, the circumstances seem to be as dangerous and intractable as any I can remember, and I can remember quite a lot. What really concerns me is that there seems to be so little willingness o…

The 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…

Note: Title credit goes to Jeff Frankel, who moderated a panel I participated on.Paul Wolfowitz just took over at the World Bank. He already seems to have indicated that is not going to follow Desmo…

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…

I am a big fan of Robert (Bob) Rubin, so if I cannot be Brad, Bob is not a bad second choice. The US has racked up a deficit of around $2,247bn (€1,821bn, £1,260bn) since 2001 without suffering …