Today’s links to interesting news and analysis…
- Powerful article: “In the absence of guns“, Mark Steyn, The American Spectator, June 2000
- A reminder of our real past (not the myth): “On Native Grounds“, Daniel Lazare, The Nation, 22 May 2006 — A people who lose their past (warts and all) lose themselves.
- “Social conflict in rural China“, Yu Jianrong, China Security, Spring 2007
- Analysis suggesting that the current global financial imbalances might continue or even grow: “The Costs and Implications of PBC Sterilization“, John Greenwood, Cato Journal, Spring/Summer 2008
- Valuable explanation of how we got into this mess: “Why de-leveraging requires higher income … and flatter income distribution“, Société Générale, 9 September 2209 2009
- One of the most important articles of the year: “ClimateGate Analysis“, John P Costella,”, Science and Public Institute, 10 December 2010 — The actual emails, in sequence, with annotations. As gripping reading as any novel, but far more important. Convicted by their own words.
- The cover-up continues of the “suicides” at Guantanamo: “The Official Response Begins“, Scott Horton, Harper’s, 19 January 2010
- The global warming propaganda continues: “Data gaps and errors may have masked warming“, Olive Heffernan, blog of Nature magazine, 19 January 2010
- A comprehensive rebuttal to the above by Roger Pielke Sr (eminent meteorologist), posted at his website
Today’s focus: the economy
If the US (or worse, the world) experiences a another leg down in this recession, the consequences will be severe. We’re in the 3rd year, and many families, businesses, and governments have exhuasted their reserves — and will go over the edge if the current stable period ends with another drop.
- increased foreclosures and bankruptcies in the US, from already post-depression peak levels.
- disintegration of the European Monetary Union.
- probable political and structural change in many western economies, including ours
Some important information about this:
- “Tracking the Global Recession”, St. Louis Fed — The recession has stabilized at low levels, but with few signs of recovery.
- “Statement of the NBER Business Cycle Dating Committee on the Determination of the Dates of Turning Points in the U.S. Economy, National Bureau of Economic Research (NBER), 24 November 2009 — About double-dip recessions
- “U.S. Economy Still Mired in Recession, Feldstein Says“, Bloomberg, 17 December 2009 — Feldstein is a former President of the NBER and member of its cycle dating committee.
Hat tip on these references to The Big Picture.