"As Washington promised not to intervene in the dollar’s value, it increasingly relied on the dollar to intervene in other countries—meaning that for all the domestic imbalances a strong dollar has caused, the power of the dollar may be felt most acu

"As Washington promised not to intervene in the dollar’s value, it increasingly relied on the dollar to intervene in other countries—meaning that for all the domestic imbalances a strong dollar has caused, the power of the dollar may be felt most acutely outside of America."

"After all, currency not only reflects the political order—it actively shapes it."

"After all, currency not only reflects the political order—it actively shapes it."

"As the banking system consolidated, from over 10,000 neighborly lenders after World War II to a few dozen faceless international banks today, responsibility for consumer credit floated like a piece of gristle in an alphabet soup of regulatory agenci

"As the banking system consolidated, from over 10,000 neighborly lenders after World War II to a few dozen faceless international banks today, responsibility for consumer credit floated like a piece of gristle in an alphabet soup of regulatory agencies. The Federal Reserve, FDIC, FTC, NCUA, OCC, OTS, and the Department of Housing and Urban Development all nominally had responsibility for the consumer—meaning that, in effect, none of them did."

"Some recent books examine a private sector still struggling to navigate [China's] mixed economy; the influence Xi hopes to wield over private companies; and how, at a time of contested values, the pursuit of profit may be the only one we still share

"Some recent books examine a private sector still struggling to navigate [China's] mixed economy; the influence Xi hopes to wield over private companies; and how, at a time of contested values, the pursuit of profit may be the only one we still share."

"The best argument against asset seizure—that it was economically unnecessary—expired with the twin forces of a newU.S. administration uninterested in supporting Ukraine’s defense and Europe’s increasing inability to fund that defense on its own."

"The best argument against asset seizure—that it was economically unnecessary—expired with the twin forces of a newU.S. administration uninterested in supporting Ukraine’s defense and Europe’s increasing inability to fund that defense on its own."

“Sorry, I’m a little dirty,” he said, still smiling. “But I guess that means I’m doing all right, you know? If I’m clean, that means I’m broke. But if I’m dirty, I’m doing all right.”

“Sorry, I’m a little dirty,” he said, still smiling. “But I guess that means I’m doing all right, you know? If I’m clean, that means I’m broke. But if I’m dirty, I’m doing all right.”