Random Links LVIII

Renminbi as Reserve Currency:








Housing Deflation Watch:  A good overview of why we shouldn’t yet expect housing prices to bottom out.

Interest Rates & the Housing Bubble:  Contributions of the Fed rate reductions & the global savings glut to the housing bubble.

Corruption & Afghanistan:  “The challenge in Afghanistan is to bring down the level of violence, and to do that it will be necessary to establish a limited-access order, in which corruption is part of the solution.”

Miller on Multiple Intelligences: “…many of the new-fangled types of intelligence that have become popular recently…boil down to general intelligence plus some combination of the Big Five personality traits.”  If this is true, then multiple intelligences & general intelligence may not necessarily be mutually exclusive.

Harvard Shrinkage:  How Harvard gambled itself to the edge of bankruptcy.

Introvert Travelers:



Avian Intelligence:  “Rooks rival chimpanzees in their ability to use tools.”

Demographic Winter Redux:

Bullish:  http://www.wilsoncenter.org/index.cfm?fuseaction=wq.essay&essay_id=519403

Bearish:  http://corner.nationalreview.com/post/?q=YjhkOTVlZTBhNzQxMWE4MGYxODI4NGQ0NDE4M2U5NjA=

Housing as Investment:



Geithner Hedge Fund:  This accords w/ the idea – noted here – that PPIP will flop ‘cuz banks are unwilling to sell loans at a loss.

Risk Management & Liquidity:  “Even owning a home that requires two incomes to pay the mortgage is not a risk worth taking.”

Duration-Matching & Home ATM: “…a general guideline is to match the term of the debt with the useful life of the asset. A 30 year loan for a house. A 5 to 7 year loan for a car. Pay cash for lunch. / Then – if the useful life and debt term match – when it comes time to replace the asset, the debt will have been retired.”

Krispy Kreme, Grease, & Fairfax: LOL.

Bad Loans: One reason banking isn’t yet out of the woods.

Negative Interest Rates Redux

Derivatives & Disclosure:

Buiter on the Lessons of the Crisis:

College Credit Downgrades

Solum on Judicial Brilliance


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