Links 9/23/08

It Takes Just One Village to Save a Species New York Times

John le Carré: Britons have been ‘stripped’ of civil liberties Telegraph

Press Coddles Banks With Pulled Punches Gawker (hat tip Cash Mundy)

Lehman Brothers reveal £100m pensions hole Times Online

An Open Letter to the U.S. Congress Regarding the Current Financial Crisis John Hussman

Bridge Loan to Nowhere Thomas Ferguson and Robert Johnson, The Nation

Fed makes it easier to take stakes in banks Associated Press

Zimbabweisation, USA Sam Jones, FT Alphaville (hat tip Cash Mundy). Before you get too excited, I suggest you check what happened to the Indonesian, Thai, and Russian stock markets in their financial crises.

What If? One Salient Oversight. Insight into the inflation versus deflation debate.

US Bonds: That AAA Rating Won’t Survive….. Dead Cats Bouncing

On Bank Holding Companies and Bailouts Roger Ehrenberg

Antidote du jour:

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  1. doc holiday

    This is a visual metaphor directed towards back pain:

    Re: At the lowest end of the spine, some patients may have tailbone pain (also called coccyx pain or coccydynia). Others may have pain from their sacroiliac joint at the bottom of the lumbar spine, called sacroiliac joint dysfunction (see sacroiliac joint for more information).

    While some cats have found help from Medical cannabis for this condition, others simply lie in the sun and relax.

    Then again, this may represent fat cats and the risk of systemic collapse?

  2. Richard Kline

    Are cats smarter than people? That’s almost a serious question. I mean, really, we cook cheeseburgers but they gets to haz them.

  3. Anonymous

    RE: ‘What If’…

    Who is this author???

    A sinking dollar and crashing economy is going to lead to inflation in the long view???

    Last time Mish posted a deflation/inflation comparison dollars leaving the economy vs dollars entering the economy was at a 14 : 1 ratio. Destruction of inflated real estate values will continue for some time. To believe that this scenario will lead to inflation is delusional.

    How will tapped out consumers with no access to credit and destruction of jobs bid up prices for goods and services? Since consumers have been about 2/3 of the economy, and consumers will be MIA, what is the precise mechanisim for inflation?


  4. Independent Accountant

    I have made Sam Jones point for years. Better to own stocks than bonds. Study the German 1922-23 hyperinflation to see what happened to stocks and bonds in a circumstance like I expect.

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