Interesting readings

Sadly, India abstained.

In India, we’re quite gloomy about the place that has been given to organised labour. But these questions are not closed elsewhere in the world. See Robert Barro on the appropriate place of trade unions, and Matt Bai in the New York Times magazine on a politician taking on public . . . → Read More: Interesting Readings for April 4, 2011

Dubai Fears Fade: Positive Economic Data Builds

What a difference a few days have made in the mainstream headlines.

Overblown concerns about Dubai defaults are quickly shifting to the into the shadows. On Tuesday clarity on the extent of the loan restructuring indicated that Dubai World likely would restructure debt worth $26 billion against earlier talk of a possible $59 billion . . . → Read More: Dubai Fears Fade: Positive Economic Data Builds

The Great Unravelling (Dubai Edition)

Although I certainly would not rank it alongside Macro Man’s dreaded vacation indicator or the incipient increase in the USD if and when the Economist finally decides to slot its decline on the front page, I still have the nagging feeling that whenever yours truly sit down at either a dull and difficult econometrics . . . → Read More: The Great Unravelling (Dubai Edition)

Dubai’s Great Crash

Sheikh Makhtoum won’t go to debtor’s prison, but short of that, Dubai’s all-but-sovereign default is an epochal event in its story. I wrote a column in Financial Express titled Dubai’s great crash where I draw on this episode to think more clearly about (a) International financial centres and (b) Puffery. On this subject, also . . . → Read More: Dubai’s Great Crash