Germany is fighting with Europe. Can China be far behind? Michael Pettis, China Financial Markets. (hat tip: naked capitalism)
Is the Treasury market a bubble? Accrued Interest.
Blackouts and Cascading Failures of the Global Markets. Jeffrey Sachs, Scientific American. (hat tip: naked capitalism)
An Overview of the Housing/Credit Crisis - And Why There is More Pain to Come. T2 Partners LLC. (hat tip: CR)
Trepidation about Quantitative Easing, Version 2.0. Yves Smith, naked capitalism.
Fed Watch: What if the Analogy is Wrong. Tim Duy, Economist's View.
key quote: "What if years of research on the Great Depression have left even the best and the brightest with tunnel vision such that they could not accept that they were wrong?"
Quite; I suspect Anna Schwartz feels similarly. From October, in the WSJ:
Bernanke is Fighting the Last War. The Weekend Interview with Anna Schwartz. Brian Carney, WSJ.
Deflation has become inevitable. London Banker.
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