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New Citigroup maven Buiter warns of sovereign debt delusion
This post from November 2009 is a reminder of how things looked in the sovereign debt crisis just a few months ago.
News from around the web: 2009-11-28
Mark Pittman, Reporter Who Foresaw Subprime Crisis, Dies at 52 - Bloomberg.com (R.I.P.) Audit would hurt economic prospects: Bernanke | Reuters (I doubt many believe this) London Luxury Home Prices Increase for First Time in 17…
October’s FDIC cease and desist and other administrative orders
A lot has been made of the most recent FDIC quarterly report, especially the large increase in problem banks to 550 – at least in the blogospehere; some media outlets seem to be burying this news. Underneath this news are the specific…
The bust in Dubai and exogenous shocks
By now you have heard that Dubai World, the investment company, has asked its creditors for a six-month delay in repaying its debt (see articles in links). This is what is commonly referred to as default. Now many are wondering if…
News from around the web: 2009-11-27
Dubai's dramatic boom over the last decade in pictures - Telegraph BBC NEWS | Americas | Facing a sixth trial for the same crime BBC NEWS | Middle East | Views from Dubai: 'The end of the dream' Dubai debt delays revive fear…
News from around the web: 2009-11-25
Geithner’s Disgrace - Eliot Spitzer FT Alphaville - FDIC’s insurance in the red, ‘problem banks’ hit 16-year high Should America worry about its deficit? | The Economist House prices 'must drop radically' to lure investors -…
The U.S. Dollar is now at parity with the Swiss Franc
Benchmark Currencies: 16 Dec 2008 Nearly one year later and the U.S. dollar is looking very weak – and not just against the Euro, but also against Sterling and Swissy, and especially against the Loonie and the Aussie Dollar. Even…
Unemployment claims lowest in 15 months
Unemployment claims dropped dramatically to 466,000 this past week. This is the best data on the unemployment front we have seen in a long time. The prior week’s claims were also downwardly revised for the first time in a while. These…
New York to use eminent domain to build a basketball stadium
The New York State Court of Appeals has ruled that the Atlantic Yards basketball project can go forward as planned, dislocating the residents in the Brooklyn, NY area where the stadium is to be built. In essence, the decision means…
A music video primer on the destructive powers of Alan Greenspan
Here's a nice little music video on Alan Greenspan and all that he has wrought. Hat tip Scott.