One country’s external debt is another country’s asset. The U.S. capital account data leaves little doubt that foreign central banks have been a huge source of financing for the U.S. current account…

There is a common sense that social security is bankrupt and people now in their 20s and 30s won’t get anything from it. That is false. Social security can fund all projected benefits until someti…

Steve Johnson’s market insight column in Thursday’s Financial Times keys off Morgan Stanley’s currency strategist Stephen Jen’s argument that "As long as Asia insists on staying inside this dollar ar…

I spent most of the past week in Washington for the IMF’s annual meetings, trying to sell a few books. The focus of the meetings though, was not on emerging markets, but rather on oil, China and the…

I have a certain interest in the topic, since in my first and so far only foray into oped writing, I supported the Bush Administration’s call for $20 billion in US grant aid for Iraq (in the end, con…