Unburied bodies tell the tale of Detroit — a city in despair Times Online
Economists: Wrong Again Michael Panzner
The illusion of improving global imbalances Richard Baldwin and Daria Taglioni, VoxEU (hat tip reader Don B)
Unemployment rates rise in 29 states CNN (hat tip reader John D)
Wall St. Finds Profits Again, Now by Reducing Mortgages Louise Story, New York Times
Debt Dynamics Will Hold Back Economy Comstock Partners (hat tip DoctoRx) and Société Générale tells clients how to prepare for potential ‘global collapse’ Telegraph (hat tip reader John D)
Rethinking The Wall Street Business Model (Part 1) Roger Ehrenberg
The role of macroprudential policy Bank of England and Bank of England demands new tools to curb excess Daily Mail, which summarizes some of the main points (hat tip Swedish Lex)
Antidote du jour (hat tip reader Buzz):







I think Micheal Panzner provides a very good rebuttal of Crazy policies proposed by Krugman and his ilk.I was really dismayed to see even Yves Smith endorsing such policies proven to be utterly destructive in Japan in last two decades and in many developing countries in 70’s and 80’s.