tag:blogger.com,1999:blog-5713178645208582139.post2254498382447313780..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: Could This Be The Tipping Point?David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5713178645208582139.post-67244454155414314332008-07-25T16:57:00.000-05:002008-07-25T16:57:00.000-05:00Salvatore:My apologies for getting back to you so ...Salvatore:<BR/><BR/>My apologies for getting back to you so late. The dark matter idea is an interesting one, but I am not convinced there are enough intangible assets out there to wipe out the global imbalances. Yes, there is some dark martter, but on the scale suggested by Hausmann and Sturzenegger? I may be wrong on this issue, but for now I remain skeptical.<BR/><BR/>A couple of other David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-989459688842390062008-07-16T14:20:00.000-05:002008-07-16T14:20:00.000-05:00Another point worth mentioning...part of Roubini's...Another point worth mentioning...part of Roubini's solution to the Fannie/Freddie fiasco is to force the bondholder's to take a 5% haircut on their holdings of agency debt. By doing so, that may have initiated the end of BWII, since much of the agency debt is held by foreign countries. My thought here is that Paulson is choosing instead to have the taxpayers pay for the bailout thus reassuring Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-48987759474377367762008-07-16T12:05:00.000-05:002008-07-16T12:05:00.000-05:00Professor,A couple years ago, Ricardo Hausmann and...Professor,<BR/><BR/>A couple years ago, Ricardo Hausmann and Federico Sturzenegger wrote a paper about "dark matter", the difference in the quality of investments within the U.S. and outside the U.S. Because of this difference, the negative current account balance is essentially offset by the better quality of U.S. investments overseas (as quantified in the NIIP), and the predicted failure of Anonymousnoreply@blogger.com