Take a little less yield on a CD, keep a bank in business

Today Justin is out doing what in the news business we call “reporting.” He graciously suggested I take the relative radio silence to promote some stories I’ve recently written for Time.com. Seems I’ve fallen behind on the self-promotion. To right that wrong, let me draw your attention to a piece I wrote earlier this week [...]

Is German (and Japanese and Chinese) frugality the problem?

Martin Wolf writes in today’s FT: What are Germany’s characteristics? It has an overwhelmingly competitive manufacturing sector; it is a chronic surplus country, with structurally weak domestic demand (ameliorated briefly during unification); and it has managed to avoid any housing or domestic credit booms. Its elite appears indifferent to the country’s rate of economic growth, [...]