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November 15, 2005

Economics
RGE Econoblog with Sebastian Mallaby

OK, not a true Wall Street Journal style Econoblog.   But Sebastian Mallaby of the Washington Post noted my response to his October 31st column, and has agreed to allow me to publish our email exchan…

August 25, 2005

Capital Flows
Peter Galbraith and Iraq

I think the folks over at TPM Café are right: David Brooks' latest New York Times column is a real flip-flop.  He has gone from celebrating the United States firm commitment to universal democrat…

October 28, 2005

United States
Who would sit on today’s “committee to save the world”

That is one of many interesting issues raised by Times selectman Floyd Norris today. As Norris notes, Alan Greenspan never had half the power people thought he had.  All he does is set short-term (cr…

November 18, 2005

Monetary Policy
Stephen Kirchner needs to spend some time looking for petrodollars …

Stephen Kirchner (Institutional Economics) has taken particular glee in the recent TIC data, as recent inflows into the US has been large enough to finance even larger current account deficits than t…

December 18, 2005

Emerging Markets
First Brazil, now Argentina

Both Brazil and Argentina now want to repay the IMF before the end of the year.  Call it contagion of a different sort.  Turkey may not be far behind, given how much private money is now flooding int…

November 24, 2005

China
Tim Adams of the US Treasury has a sophisticated China policy but …

the tone of this Economist article (particularly in the last few paragraphs) seemed a bit off - though it is far better than the Economist's leader, which somehow fails to assign any responsibili…

February 5, 2006

United States
Is national income accounting biased against the US?

In a fake news classic, Rob Corddry and Jon Stewart of the Daily Show once pondered how to report "the facts" when "the facts themselves were biased."  Michael Mandel seems to think the facts are bia…

January 28, 2006

China
Another great irony of history: The Chinese Communist party is a very profitable real estate company

Max Sawicky noted that key source of recent job creation in the capitalist United States has been the US government, which itself is financed, in no small part by the People's Bank of China.  The…

January 9, 2006

Monetary Policy
Don’t invest your reserves in euro …

If you report their value to your boss in dollars.That seems to be the lesson China's State Administration of Foreign Exchange learned in 1999.   I alluded to this story in my last post, but it i…

April 25, 2006

Bad optics

Many have noted that the White House botched the stagecraft of Hu's not-quite-a state visit.  Forget Falun Gong.   Focus on announcing China's national anthem as the anthem of the "Republic o…