Picture: unknown carnivore discovered in Madagascar lake Wild Madagascar
County home sale record Press Democrat (hat tip reader Louis S) Sandy Weill and his wife spend
ill gotten gains $31 million on Sonoma estate.
How Hank Paulson’s inaction helped Goldman Sachs McClatchy (hat tip reader Glen)
FORECLOSUREGATE AND OBAMA’S ‘POCKET VETO’ Web of Debt (hat tip reader John D)
S&P: 60% of countries will be bankrupt within 50 years Raw Story (hat tip reader John D) This is completely silly. Seriously. Do you think S&P can credibly forecast anything out 50 years, particularly given its great record on house prices? Demographers got the US in the 1990s completely wrong, they though we’d have a declining population and instead it increased. That single forecasting error rendered a lot of projections invalid. Not sayin’ things will be a bed of roses in 50 years, but that this sort of exercise is spurious (and why is S&P bothering? Does ANY country have 50 year bonds outstanding? This looks like bond vigilante agitprop).
Unanticipating The Great Depression and the Great Recession Mike Kimel, Angry Bear
Hey, Small Spender Paul Krugman, New York Times
A radical pessimist’s guide to the next 10 years Globe and Mail (hat tip reader Sundog). Gee, makes me look cheery by comparison!
The Final End of Bretton Woods 2? Tim Duy. Today’s must read.
Antidote du jour: