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January 3, 2005

Budget, Debt, and Deficits
Borrowing is Saving, Up is Down

Edmund Andrews of the New York Times provides the Rosetta stone that lets us decipher the Bush Administration’s plan to cut the deficit, which seems to be a plan to pretend to cut the deficit. Here i…

February 8, 2005

Chairman Greenspan: Do Not Worry, Be Happy

The Chairman gave policy makers a green light not to worry about the US current account deficit: the dollar’s existing fall will lead the deficit to turn around. The Chairman’s remarks also seem to …

March 29, 2005

United States
Too big to behave rashly

According to Andrew Samwick, the world’s central banks are too big to behave rashly. As he puts it: "We’re too big an economy, and our creditors’ portfolio holdings are simply too large for them to …

September 4, 2005

Economics
Financial storm gathering?

Andrew Lo of MIT apparently thinks so.  His work provided the basis for this New York Times article by Mark Giben, an article that probably will attract less attention today than it would in more tra…

September 6, 2005

Capital Flows
Is Iraq an economic success? (What is Patrick Clawson thinking?)

I think it is fair to say that I see the world - and Iraq's economy -- very differently than Patrick Clawson.  Clawson argues in the New Republic that Iraq currently is financing most of its own reco…