December 6, 2004
Financial MarketsIt looks like John Snow did Andy Card one last favor before stepping aside: late on Friday, the Treasury quietly issued the annual foreign currency report. To no one’s surprise, the report declared …
January 10, 2005
United StatesKevin Drum brought the latest National Review "trade deficits do not matter" article to my attention today. I learned a few things, namely that Steven Roach is part of a media misinformation campaig…
October 22, 2004
United StatesRonald 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…
November 15, 2004
With apologies to Philip Coggan, I plagarized his FT headline from a few days ago -- he asked the same question as Brad DeLong, namely, why aren’t big bets from big macro hedge funds driving the doll…
September 26, 2004
Capital FlowsDavid Sanger looks at Iran and North Korea’s nuclear ambitions in today’s New York Times. Sanger suggests it will be hard to stop Iran’s quest for nukes, no matter what the nature of Iran’s regime -…
December 29, 2004
United StatesNo Surprise: the People’s Bank of China. The PBOC has shifted from buying treasuries (03) to buying mortgage backed securities (04).From Reuters: "Make no bones about it, mortgages really went globa…
September 4, 2005
ChinaI rarely agree with Steven "trade deficits do not matter" Jen. His models for G3 exchange rate determination leave out a variable - the pace at which the US is adding to its external debt and its r…
May 7, 2005
Economics90s: Hi-tech.00s: Real estate.Check out this nugget from the Washington Post (emphasis added):"Jackpot" is how Ileann Jimenez-Sepulveda describes it. Like Klein, she bought a house in Columbia Height…
August 9, 2005
Capital FlowsI wonder if Iran's intransigence is any way related to this? Obviously, the risk of a supply disruption, whether in Saudi Arabia, Iran or Iraq is one reason why oil prices are high. But I suspect…
January 13, 2006
United StatesStephen "Current accounts almost always don't matter" Jen is intrigued by Ricardo Hausmann and Fredrico Struzenegger's discovery of dark matter. Lots of others are too. Michael Mandel for…
