News from around the web: 2009-09-10
He is making the asset price inflation argument I have often made. On the other hand, I am seeing some initial signs that liquidity is being drained. So, it remains to be seen whether the money printing will continue.
Bank of America dug in its heels on Wednesday in responses to two investigations into its shotgun merger with Merrill Lynch at the height of the financial crisis last year.
Richard Posner gives us a thoughtful take on recession and recovery for a non-economist. I agree with most of his points.
Issuing admonitions about the dollar is easy. Developing a genuine alternative is much more difficult. This is the task China must accomplish – in its own interest and, ultimately, the world’s.
"China National Petroleum Corp., parent of the state-run oil and gas giant PetroChina, announced Wednesday that it had received a low-interest $30 billion loan to finance overseas acquisitions — the latest sign that Beijing was deploying its vast cash reserves to ensure that its economy has the resources to keep growing."
"Only 12% of U.S. homeowners eligible for loan modifications under the Obama administration’s housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said Wednesday."
That puts the Dutch with Sweden, France and Germany. The US and UK are opposed.
Some have actually been denied care. This is heartbreaking.
"It is crazy nonsense. Even if everything that the truthers say were factually correct, Barack Obama was the son of an American mother, which means he is a natural born American citizen."
After stirring up their own country, the German blogger elite has launched an international version of their Internet Manifesto in English. Fifteen authors of Germany’s most popular blogs have signed a declaration about How journalism works today.
"By relating subtle eye movements to activity in the brain, researchers in California have shown that a structure called the hippocampus can retrieve memories of past events or experiences – even when people have no conscious recollection of them."
Duke University scientists have discovered a part of the brain that sparks a desire to explore.
This article argues that the illegality of drugs is the problem, not the solution due to statistics on decriminalisation.
To enable it, just hit up the Labs link in Gmail, find the Google Voice player in mail feature, click enable, and save your changes.
We’re talking 64 gigs for the top-of-the line device. Nice
All of the Apple announcements are very cool. Apple knows how to work the media for maximum exposure.
Some wicked new features for iTunes announced at today’s Apple event like Home Sharing, Improved Syncing, iTunes LP and more.
The iPod classic is dead. I was just arguing with my friend Judith last Friday that this was going to happen.
Distraction of the Day: Heidi Fleiss goes clean in Vegas
Financial Sense Newshour radio show is going to have a deep debate where they pair the deflationists vs the inflationists. I’m looking forward to hearing how they debate. This is the golden question going forward, and there is still no indication of which will come first…although high inflation is most likely in the longer run.
do you have a streaming media link. it does sound interesting.
i looked into it a little more. I think it’s a series of interviews by the most prominent deflationists and inflationists. I think it kicked off on 09/05 with Robert Prechter the elliot wave deflationist who thinks oil could go as low as $10 and stocks will go well past their March lows. It’s available on podcast, but you can listen to the recorded interview on https://www.financialsense.com/Experts/2009/Prechter.html
Not sure who is lined up next in the “The Great Deflation/Inflation Debate” series but the website/podcast should allow you to listen to their arguments and compare. Jim Puplava is a great interviewer and very knowledgable. I’m looking forward to listening to the questions he asks since they are bound to strike at the core of the issue and cut the interviewee no slack.
I listened to the Prechter interview. I have to say, he loses a lot of credibility because he has been wrong so often and his calls underperform the market by a huge margin. I didn’t buy his story on Pulplava’s show either.
As far as deflationists go, David Rosenberg seems to be the most credible right now.