Danton wreck found in deep water BBC
After the inferno Guardian
Crop Scientists Say Biotechnology Seed Companies Are Thwarting Research New York Times
Obama anti-trust chief: Google is a monopoly threat, not Microsoft ComputerWorld
Alan Greenspan: The Oracle Or The Master Of Disaster? Huffington Post (hat tip reader Carlos)
Citibank has cut all lending in Denmark Ed Harrison. This is NOT good.
A Proposal to Stimulate the US Housing Market Bruce Krasting. The merit of this proposal is it brings new savings to the US, and thus will ameliorate the effects of the deleveraging.
Chinese Firms Turn to Pawn Shops as Loans Dry Up CNBC (hat tip reader Michael)
Antidote du jour:
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I miss the old days:
Cooperative interspecies communication implies the sharing and understanding of information from two or more species that work towards the benefit of both species (mutualism).
> Even as mega-banks topple, Juan Enriquez says the big reboot is yet to come. But don't look for it on your ballot — or in the stock exchange. It'll come from science labs, and it promises keener bodies and minds. Our kids are going to be … different.
Juan Enriquez: How mindboggling science will outlast the crisis
So something is rotten in the state of Denmark?
You comment that it is not good. Do you care to elaborate? Could one make the case that perhaps it is a sign that Citi is starting to face reality? Or should we, perhaps more cynically, view this as a manipulation aimed at extracting the handout of some Danish?
THANK YOU Doc Holiday!!!
I very, very seldom listen to an entire video link, but that was facinating (and entertaining). Definitly one of the few keepers.
thanks again!
recommend any other sites?
funnny
Items That Almost Made the Stimulus Bill
http://thereformedbroker.com/2009/02/20/items-that-almost-made-the-stimulus-bill/
Yeah Doc, timely with that. Showed my son, who is a big science fan and wishes to go to MIT someday soon.
skippy
http://www.guardian.co.uk/business/2009/feb/16/recession-depression-economy-wordsworth
Interesting article, particularly the comment on loss of wealth relative to GDP and the resulting loss of output.
Anon@6:52
The article itself only mentions “Quick and Easy Loans”, while the CWD bloggers imply it’s part of a larger pattern, that Citibank is pulling out of Europe.
Re:Pawn shops…
Article from Bloomberg last year.
http://anonymousmonetarist.blogspot.com/2008/12/yuan-watch-using-usury.html
Here is part of the Deflation Watch:
Hewlett-Packard is selling a salary reduction to its works in the UK and Europe:
http://www.theregister.co.uk/2009/02/20/hp_pay_cuts_europe_not_compulsory/
Yves,
The article on Chinese businesses turning to pawn shops and money lenders is really helpful for western readers.
In the Chinese system, these informal lending systems (relatives, clan, neighbors) play a disproportionate role in the growth of credit.
What has happened in the past year is that the “unofficial” credit markets have been hammered.
So no matter how much easing / expansion of credit the government appear to be doing, it is hardly making up for the shortfall.
D
I am not really sure, but is that a seal fighting a dolphin over a sardine for survival?
As for science, I like to believe that today’s progress is tomorrow’s mess, or in a rhyming semi-mini-haiku:
Today’s progress
is
Tomorrow’s mess!
BofA, Citi shares plummet on nationalization fears
The government needs to reiterate now that there will be no nationalization.
The next thing that investors need to know is when the balance of the TARP money will be released and what it will be used for. If banks are going to be saved by large infusions of capital that are set up using preferred shares which will keep common shareholder fairly whole, the stocks in the financial sector will stage a furious rally and help push the market higher with them.
I am not really sure of the intellectual value of my comment here and if it should be zero, it is perhaps not a bad thing seeing how the world has been incapacitated by way too many intellectuals, but here it goes nevertheless: Wasn’t Greenspan the oracle who prophesized to the delight of all, before our last economic battle, that one great nation would be destroyed? Was he that really good?
“I am not really sure, but is that a seal fighting a dolphin over a sardine for survival?”
It’s a walrus and the beluga whale what stole the walrus’ bukkit.