The U.S. government’s spin on the widening trade deficit is that it reflects a growth deficit in the rest of the world. This spin does not hold up well. All parts of the world other than Europe are…

Last night, Vice President Cheney claimed that US allies were contributing $80 billion to the war in Iraq by providing Iraq with debt relief. He compared this $80 billion in debt relief to the cash …

I spent most of the past week in Washington for the IMF’s annual meetings, trying to sell a few books. The focus of the meetings though, was not on emerging markets, but rather on oil, China and the…

I have a certain interest in the topic, since in my first and so far only foray into oped writing, I supported the Bush Administration’s call for $20 billion in US grant aid for Iraq (in the end, con…

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…