Is this really a great global recession? Rebel Economist. Looks at an unusual metric.
Amplifying the Drumbeat on the “Overdraft Protection” Racket Columbia Journalism Review
Meriwether Said to Shut JWM Hedge Fund After Losses Bloomberg. Whacked in a crisis yet again. Wonder if he was short vol this time around.
Japan Machine Orders Unexpectedly Fall, Exports Slump Bloomberg (hat tip DoctoRx)
In Summer Hideaway for the Rich, Slump Is Visiting, Too New York Times
How Long Before the Fed’s Days Are Numbered? Michael Panzner
Pope condemns capitalism’s ‘failures’ Financial Times
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