>
> http://econospeak.blogspot.com/
>
> [Today's post by Brenda Rosser]
I second that recommendation. The other problem with a lot of the 'global imbalances' discourse - besides Rosser's point that the aggregates are increasingly arbitrary (i.e. undescriptive of the processes that generate them) - is the collapsing of a complex set of interrelated factors into a simple story about the interactions of mis-specified aggregates, e.g., 'Chinese saving' and 'US consumption'.
Mike