Links 3/15/08

The Bear Necessities Roger Ehrenberg

Millionaire Call Girl: Spitzer’s Hooker Rakes In A Fortune Online From Her Music Huffington Post

Robert Rubin Still Doesn’t Know that People Warned About the Bubble Dean Baker. It was and is convenient for Rubin not to know that such people existed….

Calls for 1-point rate reduction grow louder MarketWatch. I thought the whole point of having an independent central banks was to keep monetary policy from being a democratic process.

Credit Cards Are Frothy, Not Bubbly Joe Nocera, New York Times. Nocera argues that credit card issuers won’t be as badly hurt as gloomsters predict. While he may be narrowly correct, in that the damage might not be quite as deep as forecast, I think he has spent too much time with folks in the industry. He has underestimated the impact of a legislative backlash and the fact that this recession, and the consumer debt levels going into it, are so far beyond any historical precedent as to make it likely that reality will overshoot rather than undershoot forecasts.

Antidote du jour:

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7 comments

  1. CrocodileChuck

    Yves

    Is that a baby porcupine? (I love it-please continue les antidotes du jour-we need them)

    CrocodileChuck

  2. foesskewered

    Isn’t it telling that visa should go for an ipo at a time like this? Shifting the risk?

    wow, that cat must like acupuncture…

  3. RK

    I’ve read a lot lately about fat cats and “hedgies” but
    had never seen a picture of both together. Thanks
    (p.s. those are baby hedgehogs, right? )

  4. Anonymous

    Nocera has suffered for sometime from incestuous amplification…. not unlike too many journalists who see themselves as club members

  5. Yves Smith

    CrocodileChuck,

    My animal classification skills get pretty thin once you get past popular dog and cat breeds. But I think that’s a baby porcupine. It looks a bit too fluffy to me to be a hedgehog (any Brits welcome to disagree, I think of them as being a sceptered isle critter).

    I am told that porcupines are actually very sweet natured and playful. And I don’t think you are at much risk of being pricked if they aren’t bristling their quills. Any more insightful commentary welcome.

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