Random Links XVI
Bernanke on the “external finance premium”:
Reading closely, one can see echoes of current events in this speech.
FDIC Asset Disposal:
One current growth area.
Japan Stimulus Waste:
Something to consider when trying fiscal stimulus here.
WWII & Private-Sector Deleveraging:
How economic growth & inflation shrank US private debt from ~230% to ~65% of GDP between 1933 & 1945. Of course, today’s private debt/GDP ratio is even higher….
Thoma on Deficit Spending:
Why it’s not always a dumb idea.
Kanjorski Meme Debate:
Re. allegations by Rep. Kanjorski (D-PA) of a 9/18/2008 run on money-market mutual funds:
Initial meme sighting: http://zerohedge.blogspot.com/2009/02/how-world-almost-came-to-end-at-2pm-on.html
Salmon responds/debunks the Kanjorski meme:
Return of the Kanjorski meme:
Salmon responds again: