Global food prices fall in April BBC. A robin does not make a spring; this is the first decline in 15 months. But any reversion is good news.
Recession Proof: Not Tax Preparation Services Bill Conerly
Merrill Lynch, Morgan Stanley Issue Recession Warnings Boom2Bust. The quotes are juicy: “I still maintain the business cycle is bigger than the government….No asset class security is priced today for a recession scenario.”
Paint Lipstick on this Pig Russ Winter. Freddie’s Level 3 assets are now 23% of its balance sheet…..help me.
US-Saudi oil axis faces day of truth Telegraph
The devastating earthquake is also bad for monetary policy Michael Pettis
Antidote du jour: