Andrew Bacevich, Giving Up On Victory, Not War Tom Englehart
Grantham: Everything You Need to Know About Global Warming in 5 Minutes Barry Ritholtz (hat tip reader Francois T)
Gulf of Mexico Has Long Been a Sink of Pollution New York Times. Mirabile dictu! The Times discovers that the Gulf has dead zones!
The CIA and WMDs: The Damning Evidence The New York Review of Books
Greek Government Invokes Emergency Powers To End Truck Strike MarketNews (hat tip reader Scott)
Wyly brothers charged over ‘undisclosed $550m’ Financial Times. If the claims presented are proven, this looks awfully clear cut. The Manhattan DA referred the case, against big Republican donors, to the SEC in 2005.
A New Spotlight on Japanese-Style Deflation Ed Harrison
IMF Says U.S. Financial System May Need $76 Billion in Capital Bloomberg. Um, the IMF talks about underwater CRE, where the $76 billion seems light relative to serious delinquencies ($700 billion, and a 10% loss severity seems pretty optimistic) and doesn’t touch second mortgages on residences, which is a $150 billion hole at the four biggest banks.
Japan Seems Tolerant as Yen Rises WSJ Market Blog. A continuing mystery…
Curbing Your Enthusiasm Paul Krugman. Gives Obama far more credit than he is due, but at least makes the case for Elizabeth Warren as head of the consumer financial services protection agency.
Antidote du jour: