A post by Marc Chandler, head of Brown Brother Harriman’s Currency Strategy Team. For BBH’s currency views, visit the website here.
The G20 meet this weekend and it has drawn little attention thus far.  South Korea heads up the G20 this year and this meeting of deputy finance ministers and deputy central bankers will be held [...]

A few thoughts on the links here
Notice Michael Tomasky’s calls for higher taxes. He says:
If there is one core attribute that makes Democrats Democrats, it is that they believe in government, which means you have to believe in taxes, which in turn means that you especially believe in taxing the incomes of the rich, which [...]

The following is a post by Marc Chandler, head of Brown Brother Harriman’s Currency Strategy Team. For more of BBH’s currency views, visit the website here.
We have argued that the EU faces a horrible dilemma.  One horn is the moral hazard inherent in support for a profligate agent, while not necessarily putting a firewall around [...]

John Mauldin’s latest is about spotting asset bubbles and the potential government policy response. But he also has a lot to say about the latest employment situation survey and the situation in Greece with an apt comparison to the U.S.
In this issue: A Bubble in Search of a Pin [...]

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman has an alarming note out this morning on economic policy.  I take notice because Chandler usually writes in more nuanced and non-apocalyptic tones.  For example, he begins:
The risks are asymmetrical.  Many of the world’s national economies, in various stages of recovery, are still highly [...]

I wrote this in April 2009 about the Federal Reserve’s machinations:
You should note that only the fiscal stimulus required legislative approval. All of the other ’stimulus’ has been done without Congressional approval and largely without Congressional oversight. These activities have been specifically designed to be opaque. The government’s claims of wanting to increase transparency ring [...]

Here is more of Marc Faber, this time with Stephen Roach joining from Asia. Faber starts things off by making a point I have made many times in the past, namely that the Federal Reserve’s easy money policy is asymmetric; they are quick to cut on the way down, but slow to raise rates on [...]

In the wake of news about President Obama’s new Too Big to Fail Tax and Barry Ritholtz’s post on it, I had an in-depth conversation on the issue with a whole group of people, including Barry. Most of the group was all for the tax.  I am not, as I recently laid out in an [...]

On a number of occasions, I have pointed to the sectoral balances model of finance to help demonstrate what happens when the government sector runs a deficit or a surplus. A recent article in the Financial Times by Martin Wolf on Japan’s woes highlights this subject and demonstrates how government deficits balance private sector saving. [...]

China has been very successful in maintaining GDP growth in the midst of one of the worst global downturns on record.  In 2009, the concern was how an export collapse would trigger slow growth and unemployment. But as 2010 begins, for the Chinese economy, it is overheating and inflation that most are worried about. Chinese [...]