Here is my list of the top five stories of 2007 - and some things that I’ll be watching in 2008. What did I miss?1. The "subprime" crisis. The credibility of Wall Street’s financial engineering …

In late 2004 and early 2005, Nouriel and I estimated that the actions of foreign central banks might be holding US yields down by as much as 200 bp. That estimate found its way into Pam Woodall’s Eco…

Diplomatic sovereign wealth funds argue, more or less, that they have no desire for power - so there should be no restrictions on their ability to accumulate property. Those hoping for a cut of the S…

I was not all that impressed by the “day after” coverage of  Thailand’s capital controls in the financial press.     Everyone initially looked for parallels to 1997 – and signs that the most recen…