Thanks for your kind notes, I am getting better, but now even more behind the eight ball than ever, aaargh, and now have page proofs to contend with. This book process never ends.
China’s Empty City China Digital Times (hat tip reader Michael)
Why Jim Rogers Isn’t Buying The Equity Rally Clusterstock. Interestingly, Rogers likes other commodities better than gold.
Biotech Enters A New Phase h+ (hat tip reader Sugar Hush)
Unsolicited Principal Reduction Offer from BofA Calculated Risk. Dwight, who got the h/t on the post, sent these further comments:
Even after the 112k principal reduction on the front end the homeowner (in divorce)
is still 83k underwater plus about 25k in closing costs to complete a short sale.
Because the new 30 year loan amortizes over 40 years there is a balloon payment on the back end.
So unless the 2nd TD agreed to zero for satisfaction of its position and the housing market
had a miraculous recovery I concluded they should reject the bank’s offer and move forward
with a short sale.
The Real Threat to Fed Independence Henry Kaufman, Wall Street Journal. It’s always refreshing to see a Wall Street greybeard cut the industry no slack.
Job Woes Exacting a Heavy Toll on Family Life New York Times
FDIC Decision Due Out Soon Bruce Krasting
World Tries to Buck Up Dollar Wall Street Journal. Louvre Accord 2.0, anyone?
As Shipping Slows, Banks and Carriers Fear Loan Defaults New York Times. We’ve warned of shipping industry woes for some time.
Antidote du jour: