Antidote du Jour 8/9/08 Posted on August 8, 2008 by Yves Smith Post navigation ← Americans want cheap fuel…. Fight the Fed, Don’t Fight the Fed, Baby → Subscribe to Post Comments 2 comments doc holiday August 9, 2008 at 2:07 pm The Shar Pei is often suspicious of strangers, which pertains to their origin as a guard dog. In general the breed has proved itself to be a loving, devoted family dog. The Shar Pei are also very independent and reserved breeds. >> Living with Insecurityhttp://blogs.wsj.com/biztech/2008/08/08/living-with-insecurity/ Systems are so complex that vulnerabilities are everywhere,” he tells us. The problem is magnified when different systems are made to work with one another. >>>> Economics "is at Last a Science"http://economistsview.typepad.com/economistsview/2008/07/economics-is-at.html Though economics as a discipline arose in Great Britain and France at the end of the eighteenth century, it has taken two centuries to reach the threshold of scientific rationality. Previously, intuition, opinion, and conviction enjoyed equal status in economic thought; theories were vague, often unverifiable. Analysis to follow? Anonymous August 9, 2008 at 3:11 pm RE: Insecurity: “Money markets are quite clearly still in a pretty bad way and that's not going to change in the foreseeable future,'' said Jan Misch, a money-market trader in Stuttgart at Landesbank Baden-Wuerttemberg, Germany's biggest state-owned bank. “Banks are having to pay significant premiums to borrow cash.'' Credit markets seized up a year ago as banks suddenly became wary of lending to each other because BNP Paribas SA halted withdrawals from three investment funds on Aug. 9 after the French bank couldn't value their holdings of securities linked to U.S. subprime mortgages. That same day the ECB made the unprecedented move of offering unlimited cash as losses spread. Collateralized Debt Obligations Securities firms are only now realizing how little the securities are worth. Last week, New York-based Merrill Lynch & Co. said it sold collateralized debt obligations with a face value of $30.6 billion for 22 cents on the dollar. http://marketpipeline.blogspot.com/2008/08/money-market-plagued-by-libor-that-fed.html Comments are closed. Tip Jar Please Donate or Subscribe!