August 2010

Crude Oil Outlook: The case for higher US dollar, rising US asset prices, lower interest rates and China trade surplus

When Bruce Greenwald first explained the net importer of capital and net exporter of capital argument at the Columbia Business School class reunion and its implications on the US dollar, I didn’t get it at all. But Michael Pettis at China Financial Markets does a decent job of explaining why the Chinese will keep on…Read more