I think there are serious issues Washington needs to address, and they won't get addressed. The government is utterly overcommitted on entitlements, and it's not going to be fixed any time soon.

185

The Fed didn't act because the economy looks like its still right around its equilibrium level. The economy is growing slowly, inflation is under control. So the Fed will just leave policy unchanged until the economy gets knocked off a dead center, and I don't think that's going to happen in the near future.

168

It will be gradual. China's financial markets and their banking system are extraordinarily fragile. They cannot endure the rough and tumble of the global financial markets.

118

I don't think we ought to make too much of this (dollar spike) but it does represent what we're going to see more of, which is China gradually accommodating its behavior to the wants of globalization and the global marketplace.

111