Links: 2009-03-10

Whitney says credit cards are the next credit crunch – Reuters (I have also predicted that this would occur)

S&P to bottom at 600 points in October: Merrill (More Predictions, this time from David Rosenberg)

Prognosticator Byron Wein: The Outlook for ’09, Take 2 – Time (Byron Wien revises his market view)


Wasting Away in Hooverville – Johnathan Chait, The New Republic

Savings rates drop to lowest ever – Telegraph

The 10 Major Newspapers That Will Either Fold or Go Digital Next – Time

Mike Rowe celebrates dirty jobs | Video on

Mandelson – its not our fault – UK Bubble

Japan’s exports halved in January – BBC News

Japan Posts First Current-Account Deficit Since 1996 on Exports –

Banking Crisis
Japan reconsidered – Paul Krugman

Doubts rising over plan to fix banks |

Rock, Scissors, Paper: Recession vs. Collapse – Gregor Macdonald

Does Economy Already Need Another Stimulus Plan? – Real-Time Economics

Did Lehman Brothers’ Failure Matter? – James Surowiecki (A good riposte to those that say Lehman did not matter. I have my own take as well)

“Strictly Confidential” AIG Document Warns of Dire Consequences of Failure – Calculated Risk

An Eye-Opener: Why the AIG Bailout Isn’t Close to Over – The Stash

Who Will Take These Jobs?: The Balance Sheet: Online Only: The New Yorker (In defense of Tim Geithner)

Do Americans Want to Nationalize the Banks? – Five Thirty Eight

Stress-testing Eastern Europe – FT Alphaville

Global finance assets lost $100 trillion in value, bank says – NZ Herald

Canadian Banks Should Consider Suspending Dividends, Hardy Says – (Are the Canadians at risk here too?)

Regulating the new financial sector – Willem Buiter, VoxEU

GE Capital Hires Banks to Sell Government-Backed Debt –

PJB: Lyndon Baines Obama – Pat Buchanan (Not that I agree but an interesting take)

Other topics
Why Leading Scientists Underestimated How Quickly We’re Scorching the Atmosphere – AlterNet

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