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January 11, 2005

Financial Markets
Not where we should want to be

It is not a good sign when market strategists say any mention of "fundamentals" is dollar negative. From Wednesday’s FT:Mr Snow reaffirmed that his administration’s concept of a "strong dollar" was …

January 19, 2005

Budget, Debt, and Deficits
Prepare for the 50 year Treasury bond …

Since our newly inaugurated President seems intent on partial privatization of Social Security (despite lukewarm support from his own party), I thought I should offer him a bit of somewhat constructi…

March 3, 2005

US, Argentina

"Our view is that the current account deficit does not represent a threat to Argentina. It represents the success of Argentina" Miguel Kiguel, Finance Secretary, Argentina, 1999. "Today we are in a…

March 23, 2005

Financial Markets
Lucky that the dollar is in the midst of a mini-rally …

Because if the dollar was heading the other way, as the New York Times noted Wednesday morning, there is no one left at the Treasury to mind the store. Under Secretary for International Affairs John…

April 11, 2005

United States
Skating on incredibly thin ice

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…