Monthly Archives: May 2009

Links 5/25/09

Yosemite’s giant trees disappear BBC Goods Orders, Home Sales in U.S. Probably Rose, Signaling Recession Waning Bloomberg, Reader Michael D saw the headline as an Orwell watch item. China stuck in ‘dollar trap’ Financial Times and The (almost) $2.5 trillionaire … Brad Setser A Fight to Protect Americans From British Libel Law New York Times […]

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Is The Bond Hangover Cure of Inflation Worse Than The Disease?

Uncharacteristically for an economist, Wolfgang Munchau questions the conventional remedy for the debt millstone: use inflation to trash its value in real terms. Bondholders so often get shafted that it’s a predictable outcome. But is it wise? Munchau argues that regardless, the piper must be paid. If the powers that be succeed in creating meaningful […]

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Links 5/24/09

Tasmanian devils now endangered BBC Explosions in the Lab Slate Dick Cheney: Washington trembles at the return of ‘Darth Vader’ Guardian Geithner Adopts Part of Wall Street Derivatives Plan Bloomerg. Goldman, JP Morgan, and friends get what they wanted. Tiverton Work Shows Stimulus Not Denting Job Losses Bloomberg Sorry Greg, This Crisis Was Completely Predictable […]

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Guest post: More thoughts on the fake recovery

Submitted by Edward Harrison of the site Credit Writedowns. A recent post I published on both Credit Writedowns and Naked Capitalism, “Both initial claims and continuing claims now pointing to recovery,” has left the impression that I am a wild-eyed bull – for which I have been duly smacked about the head. This is far […]

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Links 5/23/09

PARO: Therapeutic Baby Seal Robot! Inhabitots Edmund Andrews Explains His Decision to Omit his Wife’s Bankruptcies Megan McArdle RealtyTrac: 500,000 REOs being held off the market BubbleMeter Mass Layoff Events Pick Up, Faciliate EPS Beats Tyler Durden Regional Federal Reserve Banks Think the Geithner-Bernanke-Summers Plan Is Failing the Real Economy Jesse Prospect of LP Defaults […]

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Chrysler Alleged to Have Acted in Bad Faith in Dealer Closings

Having seen what Cerberus has done to one of its acquirees (New Page, a group of mills that produce coated paper), nothing should surprise me. But the way that Chrysler treated its dealers as stuffees, pressuring them take extra inventory and make extra investments in plant and facilities shortly before the dealerships were cancelled, is […]

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Guest Post: CPPIB Suffers a 19% Loss in FY2009

Submitted by Leo Kolivakis, publisher of Pension Pulse. Fiscal 2009 Portfolio Performance by Asset Class CPP FUND RETURNS Asset Class Fiscal 09* Fiscal 08* Canadian public equities -32.3% 3.2% Canadian private equities -7.8% 2.2% Public Foreign developed market equities -29.7% -13.9% Private Foreign developed market equities -17.8% 8.5% Public emerging market equities -32.6% N/A** Private […]

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Links 5/22/09

Rare white seal caught on camera BBC Cattle Rustling Increases As Economy Gets Worse Boom2Bust The Road to Bankruptcy Megan McArdle (hat tip reader Scott C) Private equity consortium wins BankUnited auction Financial Times Global electricity use forecast to fall Financial Times. Wow. Bankruptcy surgery revives Chrysler after all Reuters. This article is a Pangloss […]

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Is Treasury About to Give Banks Yet Another Subsidy By Letting Them Repay TARP Warrants Too Cheaply?

The very fact that it took such a long headline to explain the latest (possible) Treasury bouquet to the TARP recipients says the odds are high the troubling scenario will come to pass. With the Fed a combo hedge fund/SIV and the Treasury actively engaged in regulatory arbitrage (evading budgetary restrictions by making clever use […]

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Martin Wolf on the Need to Rein in Finance

I always enjoy reading the Financial Times’ editor, Martin Wolf, but I sometime forget how refreshing and pointed he can be when he decides to let loose at a deserving target. Today’s lesson is the almost ludicrous efforts of the financial services industry to explain why the debacle that they just foisted on all of […]

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Blogging Needs to be Rebranded

I returned this week from giving a speech in Washington State to a very nice group of economists (the Pacific Northwest Regional Economic Conference, if you must know). I sat in on some of the other presentations. One, on the challenges of measuring inflation, had speakers from the BLS and the BEA. The BLS presentation […]

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