IMF warns over parallels to Great Depression. Ambrose-Evans Pritchard, Telegraph.
A Minsky Meltdown: lessons for central bankers. Janet Yellen, President of Federal Reserve Bank of San Francisco.
New day, new bank, same story. James Kwak, The Baseline Scenario.
more from Bloomberg on utilizing loose interpretations of accounting rules:
Citi and GE.
Playing the 2nd derivative. Richard Berner and Jason Todd, Morgan Stanley.
key quote:
We think investors can play the rally, but we remain cautious and look for opportunities to sell. There’s a fair amount of good news in the price, and financial markets are already moving to price in the next step of the recovery phase – that of reflation and economic stabilization. In contrast, we think the global recession has further to run and that the coming recovery will be modest. The breadth, depth and duration of this downturn also raise the potential for head fakes and false dawns on the path to a sustainable upturn that will, in turn, drive bouts of investor optimism and pessimism.
Green shoots and glimmers. Paul Krugman, NYT.
and, in the same vein:
End of economic gloom? Nouriel Roubini, Project Syndicate.
Stiglitz says White House ties to Wall Street doom bank rescue. Bloomberg.
1,500 [debt-strapped] farmers commit mass suicide in India. The Independent.
No comments:
Post a Comment