Moody’s Joins S.& P. in Warning on California Debt DealBook. Always late to the party.
The Plaza Stirs NY Times. "Few developments rode the wave of high prices in the Manhattan residential real estate the way the 181 condominium apartments at the Plaza Hotel did, and few have chilled as much in the downturn"
China ministry ”regrets” U.S. tire trade finding Reuters. You saw Yves’ coverage of Andy Xie’s article on malinvestment in commodities as the Chinese spur domestic demand. Here’s where Chinese Protectionism is a rising threat as they start to concentrate on their own demand.
Romer Roundtable: The lessons of 1937 The Economist. This is a good cross-section of views expressed in response to Christina Romer’s excellent piece in the economist on how not to repeat a 1937 double dip recession. I made my case seven months ago.
Poland: not so strong after all? FT Alphaville
Iran’s supreme leader backs poll result FT. Expect a Tienanmen Square style crackdown if things get out of control.
Porsche global sales slump by 28% BBC News. It is looking ever more likely that Porsche will be bought by VW and Wedeking will be fired, thanks to his burdening the company with billions in debt.
EU ‘risks lagging US on regulation’ FT. Really?
What is needed for a lasting recovery Olivier Blanchard, FT. Blanchard is the chief economist at the IMF.
Too big to fail FAIL Paul Krugman
El aumento del paro tendr un impacto "duradero" en la economa espaola Finanzas. Diego, this one’s for you! The rise in unemployment in Spain could have a deflationary impact for a long time according to the French. Why the French are making pronouncements on the Spanish, I don’t know.
Antidote du Jour (this deer bunny one is very cute – and very Yves):