Keith reports on the lastest of McCain’s lobbyist problems. This time it’s Phil Gramm lobbying for the banks during the mortgage crisis while advising the McCain campaign at the same time on its economic policies

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Countdown: Phil Gramm’s Lobbying Activities

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Allan Meltzer of Carnegie Mellon University talks with EconTalk host Russ Roberts about what the Fed really does and the political pressures facing the Chair of the Fed. He describes and analyzes some fascinating episodes in U.S.

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Meltzer on the Fed, Money, and Gold

Unless your family is in the wheat or beans business (wheat and soybeans exports have more than doubled when q1 08 is compared to q1 07; total food and feed exports are up 50% y/y), there actually wasn’t a lot to like in this month’s trade release . Yes, the headline deficit fell relative to February, but February looks to have been a blip. The rolling 3m deficit has been stable at around $59.5b since December

Originally posted here:
Be careful — real export growth looks to have slowed

Oil is trading above $120. Saudi Arabia exports more oil than anyone else.     It isn’t unrealistic to think the Saudis oil export revenue could approach $400 billion a year if oil stays above $120. Saudi economic development has lagged the Gulf boom towns of Doha, Dubai and Abu Dhabi.  Paul Murphy , quoting Goldman’s Ahmet Akarli: the Saudi economy has lagged badly behind its peers in the Gulf region in terms of both per capita income and overall living standards – in particular, it lags the rapidly diversifying and prosperous economies of the UAE, Kuwait and Qatar.

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Saudi Arabia to implement an IMF style fiscal austerity program with oil at $120?