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Links 6/17/09
naked capitalism —
Obama frets on debt, sees U.S. unemployment rising BBC News MySpace cuts ‘bloated’ staff FT. We're talking 30% here. Think of MySpace as the Yahoo to Facebook's Google. The recession tracks the Great Depression Martin Wolf, FT High Housing Starts Do not Reflect Reality CNBC. We saw a lot of spec building that doesn't necessarily translate into sales. But, homebuilders are up anyway. Blame the B-Schools? CNBC Video. One guy says blame the B-Schools. The other says don't. Who is more convincing? Large ...
Links June 17 09
Moon of Alabama —
... WaPo
Obama's Jimmy Carter problem? - The Cable
Public security minister calls cop 'dirty Arab' - Haaretz
E-Mail Surveillance Renews Concerns in Congress - NYT - Still reading all your emails
CIA Fights Full Release Of Detainee Report - WaPo - They torture, but you are not to know how
David Miliband wants interrogation policy kept secret - Guardian - Same there
The recession tracks the Great Depression (alt link) - Wolf/FT
China's ...
Pink picks
FT Alphaville —
Comment, analysis and other offerings from Wednesday’s FT, Pink picks illustration Martin Wolf: The recession tracks the Great Depression A paper by professors Eichengreen and O’Rourke shows global industrial output tracking the decline in industrial output during the Great Depression horrifyingly closely. The question is whether today’s unprecedented stimulus will offset the effect of financial collapse and unprecedented accumulations of private sector debt in the US and elsewhere. George Soros: The three steps to financial reform Soros warns against ...
Depression tracking, graphic edition
FT Alphaville —
... of Barry Eichengreen of the University of California at Berkeley and Kevin O’Rourke of Trinity College, Dublin, in his Wednesday column . The work presents a “then and now” analysis by comparing the current global recession to April 2008 and that of the Great Depression to June 1929. In short, the charts provide sobering reading and are worth reprising in their own right (H/T Carlomagno for directing readers this way a few days ago). Here’s a taster, but do ...
Wednesday morning links
The Mess That Greenspan Made —
TOP STORIES • Obama Blueprint Deepens Role in Markets - Wash. Post • Russia calls for revision of SDR currency basket - Reuters • For Boomers, recession is redefining retirement - USA Today • Big Shift in Health Care May Emerge in 45-Day Sprint - Bloomberg • The recession tracks the Great Depression - Wolf, FT • BRICs May Buy Each Other’s Bonds - Bloomberg • More weirdness in the UNG - FT AlphaVille • We're All Technicians Now - GreenFaucet MARKETS/INVESTING • Oil falls to around ...
Financial Times Admits Recession Tracks Great Depression
Business Pundit —
... trade in the first year is equal to that in the first two years of the Great Depression. This is not because of protection, but because of collapsing demand for manufactures.
Third, despite the recent bounce, the decline in world stock markets is far bigger than in the corresponding period of the Great Depression. The two authors sum up starkly: “Globally we are tracking or doing even worse than the Great Depression … This is a Depression-sized event.”
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Bravo to the FT for tearing the verbal padding off the current situation. ...
