Different Opinion

Some of us that are writing about the economy, especially with applications to finance, are sometimes getting away with earning almost free lunches. At least we sometimes get good paid by stating the bleeding obvious. If demand rises relative to supply, prises increase! Regions where this rise is the strongest will be net importers of the good in question!

From the Wall Street Journal via Institutional Economics:

in a world of excess saving relative to investment, not only will real interest rates be driven down, but some country or group of countries must run current-account deficits to absorb the excess saving

Update: Broken link fixed, thanks to Frans for pointing it out for me, and for the link from his post on a nearby issue. It seem that things like the changing distribution of world growth, directions of investment flows, and the new level of international interest rates are things that we still could discuss some more.