…of congressional oversight in recent years has thrown out of kilter the system of checks and balances the Founding Fathers created to keep no one branch of government from becoming…

…2002; China household savings data from 2000. Sources: Gross savings rates from OECD and ADB; household saving rates from OECD and sundry national statistics agencies; consumption and CA balances from…

…determining the US current account deficit (which is determined principally by national savings balances in my opinion), so I don’t think this changes the US’s trade picture much. But at…

The BEA reported on the US’s current account deficit for 2004. And the winner is… $666 billion, or 5.7% of GDP: The U.S. current-account deficit–the combined balances on trade in…

…the Liability Accounts: By charging an interest rate on the liability accounts that is lower than the rate the Trust Fund earns on its balances, Models 2 and 3 impose…

…against the euro. In his speech Greenspan reveals his latest thinking about the US’s external imbalances. The question now confronting us is how large a current account deficit in the…

…what stocks to buy, broad-based Exchange-Traded Funds (ETFs) (like the ones described here; you may have seen commercials for “Spiders” (SPDR) and “Cubes” (QQQ), both of which are ETFs) are…

…the appointment of minority judges to the federal courts), they are part of the system of checks and balances. Before Republicans go to far, I must remind them of Grover…

…the other sectors, and loan payoffs in both directions — summing out to Net Lending/Borrowing — and crucially, trade imbalances, and government deficit-spending into the real sector, with money created…

…this statement (“lower public debt”) is potentially confusing, and I’d like to explain why. The meaning of “public debt” depends on the accounting/balance-sheet view you’re adopting. Each is a perfectly…