Fixing a Genetic Flaw MIT Technology Review
Japanese savings shrink Japan Economy Watch
The Stimulus Package Considered against a Deteriorating Macro Backdrop Menzie Chinn, Econbrowser
The threat posed by ballooning Federal reserves John Taylor, Financial Times
Geithner’s trillion dollar gamble Eurointellingence. Not to toot our own horn, but note:
We have noticed that the US blogging community is a lot more positive about the Geithner plan than the Paulson plan, even though they are essentially the same plan minus some insignificant details, such as who is in charge of the bidding process. So in our view the reactions to the Geithner plan are very a good metric of the partisanship in the US blogging community. Some bloggers like Krugman, Johnson and Naked Capitalism have remained consistent throughout. Some of the others are merely telling us that they are Democrats, right or wrong.
Also, I don’t buy the Nemo analysis (not to say investors can’t make out well, but the deal is now effectively an option, and picking a distribution that is extreme maximizes option value. Some of the comments, however, give more useful input on likely economics).
Dark musings, 2009-03-24 Steve Waldman. Today’s must read. I must confess I missed this angle COMPLETELY, and it’s bloody obvious.
Antidote du jour: