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…

China's leaders talk of rebalancing the basis for Chinese growth, shifting from exports and investment to consumption.   That makes a lot of sense to me.  China's economy is every bit as unbalanced a…

Combine two data points The August fall in Treasury holdings in the Federal Reserve Bank of New York’s custodial accounts (the data is released weekly here); andThe very modest increase in China’s re…