Oil above $50 a barrel is not good for the U.S. trade balance. Higher oil prices are a tax on US consumers, with the proceeds pocketed by oil exporters. If oil stays above $50 in November and Decem…

Or at least talked to Summers and Rogoff, before writing his Thursday Wall Street Journal column. It is worth reading if you have access to the Journal. I agree with his bottom line: getting out of…

Richard Cooper has an oped in today’s FT (avaible here, subscription needed) arguing that the US current account deficit is "not only sustainable, it is perfectly logical". Cooper argues that a $500 …

One interpretation of the results of the US election is that Ray Fair’s model (am having trouble with the interface, so no link -- it is available on nouriel’s web page in the elections section) was …

Isn’t that what a revenue neutral flat tax or a national sales tax implies, particularly one that exempts investment income from any taxation? (as Cheney reportedly is pushing). In all honesty, it …