Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
November 8, 2004
Buried deep within the Scott Kilman’s Monday WSJ article on rising food imports is the following gem:"Much of the Pepsi-Cola sold in the US is made from concentrate imported from places such as Irela…
December 10, 2004
United StatesThat’s the tag on p. C4 of the Wall Street Journal.The smart money -- and regular readers of this blog -- know that this is real question is not whether central banks are, in aggregate, dumping dolla…
December 16, 2004
There are two groups of investors that are massively overweight US assets: the world’s central banks, who still hold most of their reserves in dollars, and US domestic savers. US residents keep the …
February 26, 2005
Emerging MarketsArgentina is on the verge of completing one of the largest sovereign debt restructurings in history. Argentina is seeking to restructure about $82 billion in bonds, plus $21 billion or so in past d…
April 6, 2005
Monetary PolicyThe Koreans, I suspect, let the cat out of the bag. Korea knows the value of reserves, and the risks of holding too few reserves. Indeed, absent an IMF loan and a last-second deal with their credit…