Liberal Talk Radio

James Fallows’ piece in the Atlantic — about the Chinese government’s efforts to keep its economy out of control by a really strict policy of buying dollars — is really good. A teaser:
The dollar’s value has been high for many years—unnaturally high, in large part because of the implicit bargain with the Chinese. Living [...]

He’s making sense:
“One of the concerns that I have is that we’ll probably end up borrowing this $150 billion from the Chinese,” he said. “And when we get those rebate checks, most people are going to go out and buy stuff that’s been imported from China. I have to wonder whose economy is going to [...]

If you’re someone who studied economics [like me!], then chances are, you’ve probably taken at least a class or two about the monetary crises of the ’70s.
For the rest of you … did you know?
Richard Nixon was responsible for the first major inflationary event of the ’70s? ‘Tis true. He took us off [...]

At this point, nearly 7 full years into the Bush regime, there’s hardly a malediction I can hurl in Monkey Boy’s direction that hasn’t been spoken before.  And yet somehow I’m still amazed at the idiocy of both Bush and the toadies with which he’s managed to surround himself.
Faced with the prospect of stagflation (that’s [...]

Heading to Europe for a business trip in a few days. Thankfully, most of it will be on an expense account:
The 13-nation euro hit a fresh record against the dollar — rising to $1.4729 — before falling back. The dollar lost ground following word that a senior Chinese political figure said China should spread [...]

Another crazy week on Wall Street as Bernanke decides a little inflation is a small price to pay for keeping his banker buddies in reach of their seven figure bonuses. It’s too bad Congress can’t get its collective head out of its collective dupa long enough to actually consider policy anymore, or this guy [...]

[I think I wrote that headline before]
The markets have already priced in a Bernanke rate cut.  The question is: where do we go from here?  With inflationary pressure likely to mount given a rate cut, and with the dollar tanking, what other mechanisms can the Fed exercise to stimulate the economy moving forward?
The answer is: [...]

Ah, finally the mainstream press gets around to covering the dark side of Bernanke’s shameless pandering to his buddies on Wall Street — with a rate cut, Bernanke’s signaling that he’s willing to allow the U.S. to inflate its way out of debt. And that means that everything we buy from abroad — little [...]

I’ve been waiting for this day, when the loonie would match the greenback.
I’ve had a $20 Canadian bill sitting on my night stand from my last trip to Canada a year or two ago. It’s earned about 25% just sitting there. Best investment I’ve made in a while.
P.S.: The Euro’s trading [...]

In an editorial this morning, the NYT lauded Fed chairman Ben Bernanke for his steady hand at the wheel during the recent turmoil on Wall Street:
Over the last two weeks, as debt-market woes have mounted, Mr. Bernanke has come under pressure to cut rates in order to ease borrowing and, in the process, boost stock [...]