The finance ministers of the G-20 just finished meeting.Result: the Yankees and the Phillies are not going to be in the World Series this year.The leaders of the G-20 are going to meet in Seoul, South Korea in November.I think...
Read MoreDuring my professional career, three things have seemingly dominated the American culture. First, the labor unions; second, the manufacturing industries; and the third was home ownership.I spent my formative years in Michigan...
Read MoreOne thing we learned in the 1990s and the 2000s is that there can be asset bubbles in the economy without growth in either money stock variables or increases in consumer (flow expenditure) price inflation. The financial system...
Read MoreWe have been living with the team of Ben Bernanke and Tim Geithner since 2006, Bernanke as Chairman of the Board of Governors of the Federal Reserve System and Geithner as the President of the Federal Reserve Bank of New York....
Read MoreThe Chinese central bank has announced that it will raise the one year lending and deposit rates by 25 basis points. This has been a major surprise to international financial markets.One can assume that this move was done very...
Read MoreI would strongly recommend you read the “Weekend Interview” published in the Wall Street Journal on Saturday. The interview is with Robert Mundell, 1999 Nobel prize-winning economist who teaches at Columbia...
Read MoreExperts tell us that one way to solve trade problems is to let the value of your currency fall. When the value of your currency declines relative to other currencies, your exports will rise and your imports will fall. This seems...
Read MoreCommercial banks aren’t lending. That we know.But, there is action elsewhere and, I believe, that this behavior tells us a lot about how the recovery is working itself out…although it is not a recovery like the ones...
Read MoreI read Martin Wolf’s column in the Financial Times this morning and was taken aback by what I read there. (See “Why America is going to win the global currency battle”:...
Read MoreIn recent posts I have written about how international capital mobility has expanded since the 1960s to the point where one cannot imagine the world without freely flowing capital. Sebastian Mallaby has presented a confirming...
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