The risk that the US government will default on some of its debt obligations lingered last week as the stand-off over the raising of the debt ceiling appeared to intensify. At the same time, it has...

The impasse over raising the debt limit continued last week, although it looks like the two sides are edging closer to a deal ahead of the 2nd August deadline set by the Treasury. If there's no deal...

Although the US is running a budget deficit equal to 9% of GDP and a current account deficit of 3% of GDP, its net external liabilities at 17% of GDP are not actually that large. Last year, they even...

The sharp drop back in energy prices last week should provide a much needed boost to real consumption in the third quarter. Unfortunately, that boost from falling prices will only be temporary...