Balance sheets and the trade cycle. Paul Krugman, Conscience of a Liberal.
China's dollar trap. Paul Krugman, NYT.
Swiss slide into deflation signals the next chapter of this global crisis. Ambrose Evans-Pritchard, Telegraph.
Inflation vs. deflation. Calculated Risk.
The risk of deflation. John Williams, The Federal Reserve Bank of San Francisco.
Johnson and Kwak vs. Bernanke. Tim Duy, Fed Watch.
Why this will not be a normal cyclical recovery. Roger Altman, FT.
Is America repeating Japanese history? The Economist.
Lessons from Japan's failed fiscal stimulus. Keiichiro Kobayashi, voxeu.
The age of balance sheet recessions: what post-2008 U.S., Europe and China can learn from Japan 1990-2005. Richard Koo, Nomura; via Paul Kedrosky's Infectious Greed.
The prime loan (under)performance problem. Jake, Econompicdata.
Why creditors should suffer too. Tyler Cowen, NYT.
The Geithner-Summers plan is even worse than we thought. Jeffrey Sachs, Huffington Post.
The mark-to-market myth. James Kwak, The Baseline Scenario.
How the FASB aids and abets obfuscation by wonky zombie banks. Willem Buiter, Maverecon.
Fighting recklessness with recklessness. John Hussman.
Bailing out the bailout. Roger Ehrenberg, Information Arbitrage.
Recipe for disaster: the formula that killed Wall Street. Felix Salmon, Wired.
Finally, some somber and some more inspiring viewing from the Boston Globe:
Scenes from the recession and Earth from above comes to NYC.
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