Steven Pearlstein’s column “Public debt, private wealth” argues that surge in demand for US financial assets from emerging economies – and overwhelmingly from the governments of emerging economies, n…

I am back in the United States, and ready to get back to work.   Before turning to the TIC data though, let me first thank Michael Pettis for filling in here so ably once again.    I cannot oversta…

The Economist put the dollar on its cover this week.   The Economist’s cover is usually a lagging, not a leading, indicator:  it signals that the dollar already has fallen significantly, and sometime…