Links: 2009-10-28

By Edward Harrison On Oct 28, 2009

Finance and Politics

All Debt is Not Created Equal: Government Debt is NOT the Same as Private Debt – Marshall Auerback

Must-read

Why rich college kids can sell dope and you can’t – Denver News

I have a slightly different take because I know that there have been a decent number of drug raids in the previously protected college scene. This is interesting, though. Hat tip, Yves Smith

Democratic donors rewarded with W.H. perks – Washington Times

This sounds dubious. Let’s see where it leads.

European Commission clears Northern Rock break up – Telegraph

Separation into good and bad bank

Debate on Deficits: A Reply from Rob Parenteau – naked capitalism

Must-read piece of economics

1920-21 and the Great Depression – The Austrian Economists

Allowing the money supply to fall isn’t painless. Allowing the money supply to fall in an environment of severe downward wage rigidity is VERY "not painless."

FT Alphaville- Switching banks: Learn to love the one you’re with

Examination of drivers for customers to stay put.

oftwominds: Housing: Round Trip to Pre-Bubble Prices Underway

75% down, 25% to go. Can we stop this?

FT Alphaville – In defence of Goldman Sachs

GS is lobbying the SEC on dark pools, HFT and so on

FiveThirtyEight: Somebody Buy Joe Lieberman a Puppy

Must read to see how politics work.

A Diary of the Great Depression – Paul Kedrosky

Fascinating but sad

Mish’s Global Economic Trend Analysis: PhD’s In Distress and the Unsustainable Cost of Education

must-read