Links: 2009-04-14

The first link should be a reminder of how powerful the downtrend has been. Also, regarding the inventory purge now ongoing, inventories do not even actually have to be rebuilt to get a statistical up-move going forward, they have to be purged less severely.

Singapore’s economy contracts 20pc in first quarter

The hyperactive Fed finds its cherished independence is on the line – Economist Hat tip Mark Thoma

Manhattan Apartment Rents Fall as Unemployment Rises This is a 5.9% fall in one year. This puts pressure on already elevated pries as the buy/rent comparisons worsen. I see bad things for Manhattan real estate.

Deepak Moorjani: Deutsche Bank: A Letter to Shareholders

StumbleUpon Lurches Back to Original Owners

Gross Raises U.S. Debt Holdings to Highest Since 2007 – Bloomberg.com

China property prices ‘likely to halve’

Averting Depression as Consumer in U.S. Fades: Stephen Roach – Bloomberg.com hat tip Stevie b.

The corner has been turned in the financial crisis but obstacles lie ahead – Telegraph Michael Spence, a nobel laureate wrote this.

Bernanke Bet on Keynes Has Meltzer Seeing 1970s-Style Inflation – Bloomberg.com

Obama to Ease Cuba Travel, Money Limits Today, Official Says – Bloomberg.com

Investors Can Learn From Bear Market And Prosper Again – Bill O’Neil This is an interesting piece by Bill O’Neil, the long-time scion of Investor’s Business Daily in LA