yglesias.thinkprogress.org - 12/18/2008
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Kevin Drum raises the specter of the trade deficit:
Maybe we really can’t worry too much about this at the moment. But the trade deficit bubble is going to pop eventually just like the dotcom bubble and the housing bubble. We at least ought to be thinking about this a little bit.
...
tpmcafe.talkingpointsmemo.com - 12/17/2008
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tpmcafe.talkingpointsmemo.com —
Bob Reich raises an important question that's been
worrying me: what does the end game look like?...
When, if ever, can the economy throw away its crutches and do without big stimulus? I'm not sure I agree with his answer, but my own answer raises ...
(more)
The Global Jigsaw
nytimes.com - 12/20/2008
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nytimes.com —
Authorities have begun blocking access from mainland China
to the Web site of The New York Times...
even while lifting some of the restrictions they had imposed on the Web sites of other media outlets. >
(more)
China Blocks Access to The Times’s Web Site
salon.com - 12/18/2008
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salon.com —
The South's attempt to kill the North's auto
industry is the latest battle in an ongoing conflict....
It's time for a Third Reconstruction to put an end to it.
(more)
The economic Civil War
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Trade Deficits And Speculative Bubbles
JustOneMinute —
Matt Ygelsias is more articulate than yours truly (Yes, the sun also rises in the east) in attempting to link global trade imbalances with th elast two speculative bubbles in the US: This goes back to the fraught issue of global savings imbalances. For reasons that I don’t think people understand very well, we not only have a number of high-savings perpetual-surplus countries in the developed world (Japan, Germany, etc.) but we have the odd specter of persistent trade surpluses among developing countries like China. The way this is “supposed” to work is that Chinese ...
Global Capital Markets: Water Flowing Uphill
J. Bradford DeLong's Grasping Reality with All Eight Tentacles —
... Matthew Yglesias: Questions That Are Too Hard for Me: The way this is “supposed” to work is that Chinese people, being poor but growing rapidly, consume more than they produce. The current accounts balance out because savers in rich countries should be investing money in China — building up China’s capital stock and so forth. Investments in capital-poor developing countries “should” offer a high rate of return for developed world savers, and the injection of foreign capital should speed China’s growth. And for “China” you can ...
Brainster's Blog —
Matt Yglesias Does Economics No surprise, he does it badly, probably because he's reading Krugman and Brad (Gutless Punk) DeLong. I’ve heard some economists argue that we’re pursuing some kind of misguided strong dollar policy that’s responsible for our currency’s refusal to devalue, but I don’t actually see what policy that might be. We appear to be doing everything you would do to shake investor confidence in U.S. public finances and spark a decline in our currency. Interest rates are very low in the US right now, ...
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