Monday, August 23, 2010

Today's Best Reads

1--Debt’s Deadly Grip, GRETCHEN MORGENSON, New York Times

2--Michael Pettis on the high odds of Trade War, Yves Smith, Naked Capitalism

3--Does income inequality help cause financial crises, Yves Smith, Naked Capitalism

4--Now that's Rich, Paul Krugman, New York Times

5--It could have been much worse, Gary Burtless, Economist's View
Key quote: "The tea leaves are clear: The Great Recession will not be a second Great Depression. And, as I argue below, President Obama’s stimulus package, though imperfect, deserves a great deal of credit for bringing us back to the positive trajectory we’re on today. Any reasonable grader of the stimulus’s effects on driving recovery and combating joblessness would give the stimulus at least a B+"

6--In Striking Shift, Small Investors Flee Stock Market, Graham Bowley, New York Times

7--3rd quarter likely negative; recession never ended, Mish's global economic trend analysis

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