Ronald McKinnon has an interesting argument in yesterday’s Financial Times (based on this policy brief), namely that manufacturing workers are paying for low US private savings and large US budget de…

President Bush was asked to name three mistakes he had made. He declined, other than to hint that perhaps he had hired a couple of people he should not have (Paul O’Neill, I suspect he meant you). …

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 …

The dollar is falling even with strong jobs numbers. That makes sense. Jobs = consumption = trade deficits, especially since bush = no tax cuts and rising spending (spending on the war and homeland…