The (almost) dollar crisis of 2007 …
It is now rather common to argue that those economists who anticipated the crisis anticipated the wrong crisis – a...
The faster the rise, the bigger the fall?
Cross-border bank claims - according to the Bank for International Settlement (BIS) — shrank in the first quarter, though at a slower pace than in the fourth quarter. That basic storyline also holds for the emerging world: the total amount the major international banks lent to the world’s emerging economies fell in...
Don’t ignore the adjustment that has taken place; the US trade deficit is half its size this time last year …
Most reporting on the May trade data tried to fit it into the “green shoots” meta-narrative, thanks to the small uptick in exports. Never mind that total exports were about equal to their level in March even after the May uptick– and that about half the uptick between May and April came from...
