Russia's central bank announces that they will try to diversify its foreign currency holdings. Currently, most of it is in U.S. dollars (47%) and euros (41%) with the rest being in pounds (10%) and yen (2%). Apparently, they start including Canadian...

Henry Payne at the Planet Gore blog points out that federal mileage standards weakens Detroit auto companies relative to their competitors, something which provides an excuse for the government to take over them once government regulation have weakened...

Caroline Baum notes that Obama, when asked about the dubious quality of the estimates of the number of jobs created or saved by his plan, replied "this is an inexact science". For once, I agree with Obama. Estimating the exact number of net job gains...

In July, the inflation rate reached a low of -2.1%. Since then, this number has increased to -0.2% in October as the deflation from July to October 2008 has been removed from the 12 month comparison and as consumer prices rose between July and October...

Jeffrey Sachs points out that the U.S. government is dysfunctional, while also arguing that this dysfunctional government needs to expand its control over the economy.... Of course, he would presumably says that an ideal government would do this and...