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Browsing Category
Political Economy
Sotomayor looks unassailable right now
I listened to the first day of the Sonia Sotomayor confirmation hearings for a spot as a US Supreme Court justice. I was very impressed. The three who impressed me the most were Al Franken (D-MN), Arlen Specter (D-PA), and Sotomayor…
Personal story on devastating loss of health care benefits
This was a front-page story at the Wall Street Journal today. It should bring home the problem with lack of benefits in America. Also see Mark Thoma’s post yesterday on health care called "The Hottest Places in Hell are Reserved…
How the U.S. beat a suspected tax cheat into submission
It is refreshing to read the foreign press because they have decidedly different takes on issues.Whether you agree or not, it is important to hear those views. The Swiss are very negative on the U.S. and their tax fight against UBS. This…
Mea culpa on the need for a new currency
A few days ago I wrote a post “Japanese defend dollar’s status while China tears it down” in which I defended the Japanese support of the dollar, saying it was in no one’s interest to see a change in the currency markets right now. I have…
Germans reject Chinese offer for Opel
Roland Koch, the leader of the German state of Hesse, has dismissed the possibility of Chinese auto manufacturer BAIC acquiring German carmaker Opel. Below is my translation of today’s Spiegel article explaining this.
Clear rejection of…
Who is the Rio executive arrested by the Chinese?
This comes via the Sydney Morning Herald: A year ago, after Stern Hu had survived 20-odd rounds of negotiations and won Rio Tinto and Australia an extraordinary 87 per cent price increase for its iron ore contracts, I asked him if he…
Joke of the day: Mark Sanford’s re-coupling America to emerging markets
Marshall Auerback sent me this joke about Mark Sanford. Mark Sanford’s staff thought he was hiking in the mountains. In fairness to his aides, "I'm getting some Argentinian tail." sounds a lot like "I'm hiking the…
Galbraith and Buffett think a second stimulus is necessary
In reaction to recent comments about more stimulus by Laura Tyson, an advisor to President Obama, we have seen a host of commentators make their opinion known. Here are two more well regarded pundits: James Galbraith and Warren Buffett. …
A brief primer on Xinjiang, China and riots there
When news first broke regarding the ethnic tensions and violence in Xinjiang, China, I was not familiar with the situation there. I have gotten up to speed and wanted to post a few videos and links for you on the situation there.…
China detains Rio executive on suspicion of espionage
Rio Tinto was one of those companies which levered up just as the economy was turning down, rushing its bottom line ad forcing it into the hands of Chinalco, a large Chinese commodities company. However, as commodity prices have…