Yes, my headline is a bit overstated. Panic is too strong. A sudden stop might be a better term. or an (almost) orderly withdrawal. But there is more and more data suggesting that central ba…

michael pettisAs was widely anticipated, on Saturday the PBoC raised the minimum reserve requirement for Chinese banks by 50 basis points to 13.5%.  This is the ninth increase this year and I think a…

“Knowing that federal assistance is all but certain, state and local officials frequently ignore the disaster risks they create with their decisions on land-use and building standards,” writes Counci…

The BIS annual report is out.Let no one doubt something changed in the global economy, starting in 2002.1999 global reserve increase: $140 b2000 global reserve increase: $158 b2001 global reserve inc…