Archive for the ‘Trade/Foreign Policy’ Category

A Reminder Why Protecting Social Security Is So Important

January 9th, 2013

Take a look at this useful set of pictures from the BLS on the not-very-healthful status of defined benefit (DB) private pension plans in America today (DB pensions provide guaranteed, periodic payments in retirement).  A quick glance led me to believe that these data points should be a front-and-center defense against those who would cut… Read more

The New Treasury Secretary Must Have a New Client

December 16th, 2012

Masterful piece of writing in today’s NYT by editorial board member Teresa Tritch on the job description of the new Treasury secretary.   Secretary Geithner was met at the door in January of 2009 by a financial market meltdown and correctly undertook reversing that as his first job.  As the figures below reveal—graphs I’ve chosen to… Read more

The IMF on Capital Controls: Washing Out the Shampoo Economy

December 4th, 2012

OTE readers know I worry about the advent of the “shampoo economy:” bubble, bust, repeat. The last few business cycles both here and in other advanced economies have been characterized by this pattern.  To be clear, economies are cyclical…that’s a given.  But nowhere is it written—well, outside of Minsky—that the cycles have to be driven… Read more

Presidential Debate #3: Foreign Policy

October 22nd, 2012

Pre-debate thoughts: The commander-in-chief is assumed to have an edge in a foreign policy debate but the world has become a more complicated place, even in recent weeks, and President Obama has typically been careful not to articulate a sweeping “Obama doctrine.”   His approach has been more pragmatic, evaluating America’s interests case-by-case and clearly not… Read more