Random Links XVI

Bernanke on the “external finance premium”:

http://www.federalreserve.gov/newsevents/speech/Bernanke20070615a.htm

Reading closely, one can see echoes of current events in this speech.

FDIC Asset Disposal:

http://www.nytimes.com/2009/02/14/business/economy/14assets.html

One current growth area.

Japan Stimulus Waste:

http://www.nytimes.com/2009/02/06/world/asia/06japan.html

Something to consider when trying fiscal stimulus here.

WWII & Private-Sector Deleveraging:

http://krugman.blogs.nytimes.com/2009/02/15/debt-in-wartime/

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:

http://economistsview.typepad.com/economistsview/2009/02/bogus-arguments-about-the-burden-of-the-debt.html

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 sightinghttp://zerohedge.blogspot.com/2009/02/how-world-almost-came-to-end-at-2pm-on.html

Salmon responds/debunks the Kanjorski meme:

http://www.portfolio.com/views/blogs/market-movers/2009/02/11/kanjorski-and-the-money-market-funds-the-facts

http://www.portfolio.com/views/blogs/market-movers/2009/02/10/the-kanjorski-meme

Return of the Kanjorski meme:

http://alephblog.com/2009/02/15/the-story-not-told/

http://v2.ftalphaville.ft.com/blog/2009/02/16/52487/the-kanjorski-meme-and-the-end-of-the-world-redux/

http://v2.ftalphaville.ft.com/blog/2009/02/16/52487/the-kanjorski-meme-and-the-end-of-the-world-redux#comment-233134

Salmon responds again:

http://www.portfolio.com/views/blogs/market-movers/2009/02/16/the-kanjorski-meme-mark-ii

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