Op-ed leader in the European Wall Street Journal, 24 November: "A Dollar Warning: A country can't devalue its way to prosperity." The slide of the dollar (and Greenspan's acknowledgement that it ought to keep on sliding), the no-end-in-sight budget deficit, the trade deficit, the unfunded entitlements conundrum (disaster-in-waiting?), and the foreign brain drain (see below) add up to a flashing yellow light—at least—on the U.S. mid-term economic horizon. Why does John Snow not look like the sort to take the lead in dealing with all this? I am no macro-economist, but my "antsy" feelings are starting to drive me nuts. No problem? It doesn't feel that way.
Before blogging became all the rage, Tom was posting book reviews and Observations (essentially early blog posts) to this site. You can find the archives below.
What we're talking about
on the front page.