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September 1, 2005

Some thoughts on Katrina and the economy

I understand the reasoning behind the standard argument that big storms have less impact on an economy - particularly a large and diverse economy - than one would expect looking at the scale of the d…

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…

January 28, 2007

Politics and Government
The Davos lie

I am intrigued by a comment the often provacative Larry Summers made at a Davos seminar:Lawrence Summers, the former U.S. Treasury Secretary and Harvard University president, delivered some harsh cri…

January 31, 2007

United States
Roach on globalization and China

Stephen Roach made three arguments last Friday. I disagree with two of them, but agree with the third.  And the third is by far the most important.   But before getting to the point of agreement, the…

February 7, 2007

US to China: See you in court (maybe)

When I saw that the US was initiating a WTO case challenging China's various tax favors and export rebate, I knew who to turn to for analysis.  Emmanuel -- a regular participant in the comments s…


April 30, 2007

United States
Dani Rodrik, Steve Waldman, China’s impact on US export prices and the risk of “financial” Dutch disease …

Dani Rodrik didn’t take long to stir up the blogosphere (see Steve Waldman, among others).   Rodrik makes an interesting point:   Trade doesn’t cut inflation.   Sure, it lowers prices for impor…

August 9, 2007

The balance of financial terror, circa August 9, 2007

Back in early 2004, former Treasury Secretary Lawrence Summers highlighted the emergence of what he termed the "balance of financial terror."   China – and others – relied on the US for demand that t…

October 29, 2007

Financial Markets
Does the United States need a new dollar policy?

Former Treasury Secretary Lawrence Summers seems to think so.  The vast majority of the US current account deficit is now being funded by central banks accumulating reserves as they seek to avoid app…

October 21, 2008

The end of Bretton Woods 2?

In late 2004, Nouriel Roubini and I wrote that “the tensions created [by the Bretton Woods 2 system] are large, large enough to crack the system in the next three to four years.” In a 2005 Wall Stre…

October 29, 2010

United States
Living Dangerously in Lebanon

Not a lot of time for blogging today. I have a post in the works for the weekend. In the meantime, things are heating up in Lebanon. Hizballah Secretary General, Hassan Nasrallah, declared today…

Living Dangerously in Lebanon