Homeowners walking away from underwater mortgages – MiamiHerald.com
Strategic default on the rise.

Economics and Moral Courage – Llewellyn H. Rockwell, Jr.
Anecdote contrasting von Mises and Hans Meyer

Government Porkfare Is No Way to End Recession: Caroline Baum – Bloomberg.com
"not all spending is created equal"

FT Alphaville- Break-ING up is so hard to do
The bancassurance model is dead (at [...]

GM puts Opel sale signing on hold
"European Union concerns that Germany rigged the sale to Magna to save jobs"

Despite the recession, Westfield London is celebrating its first anniversary
Same thing is happening in the states

What a U.S. Decline Means for Investors – WSJ.com
Don’t run out and trade away from US assets just yet

Avoiding a U.S.-China Trade [...]

US Treasuries: "Risk free" for How Long? – Megan McArdle
This is the widely-believed default canard. Latin America nations defaulted because of foreign currency debt. Japan issue debt in their own currency. They cannot default. Hello?

CRE Refinance Pressure to Continue for Months : HousingWire
Peak middle of net decade

South-South Trade Tensions – Crisis Talk – The World [...]

The Problem is Not TBTF, but TDTR – Yves Smith
TDTR means Too Difficult to Resolve

Economist’s View: "The Death-Defying Dollar"
Long-term weakness but no collapse.

Paul Krugman – The Chinese Disconnect – NYTimes.com
This is going to be a tough nut to crack. The US can’t be seen telling the Chinese publicly to revalue. But, on the other hand, [...]

FT.com – SEB back in black as Baltics stabilise
Return to profits. Again, all is seemingly well in banking

FT.com – China must keep its eyes fixed on the exit
"While we have avoided the worst recession since the Great Depression, we are probably heading for another asset bubble and more financial turbulence."

Compromise Bill Could Block States on [...]

Obama’s approval rating back to 50 – POLITICO.com
This is tied for the lowest yet.

Calomiris: Maybe He Slept Through 2008 — Seeking Alpha
Debunkng certain economies of scale arguments for TBTF

Volcker Has Obamas Ear, but Not on Overhaul of Banks – NYTimes.com
Wells, U.S. Bancorp get big boost from mortgages | Reuters
More bullishness in banking.

Recession-hit Spain goes back [...]

Android 2.0 gets Facebook integration and a car mode
With the 4G iPhone coming, will it be enough?

FT.com – Apple leaps ahead with 47% profits surge
No one’s complaining about this, are they?

RUMOR: Verizon and Apple Already Testing 4G iPhone
Wow. I’d like to see this phone. Big news. AT&T is unhappy.

FT.com – Greece vows action to cut [...]

BB&T report slumps as credit issues weigh | Reuters
And they are generally considered better managed.

More investors overweight equities: Citigroup | Reuters
Even more evidence of an asset-based recovery

Government banks failing to sell off assets to private equity firms
Big fear of crystallizing losses

Banks may face windfall tax over bonuses
Bankers will make a lot, but is the right [...]

Supply-Side Economics, R.I.P. | Bruce Bartlett
Repudiation of Bush. Not all tax cuts are created equal.

How Hillary Clinton Was Reborn As Secretary of State — New York Magazine
Is her star rising?

Another Goldman executive named to key government post as its profits skyrocket – Glenn Greenwald – Salon.com
This is a 29-year old in a key regulatory position.

Facebook [...]

Breaking the last racial taboo – Ben Smith – POLITICO.com
Bill de Blasio puts interracial marriage on display

Google Brings Back The Growth In The Third Quarter.
It looks like Google’s firing on all cylinders.

Obama wins first financial reform victory in months
Committee clears OTC derivatives bill in 43-26 vote.

Money well spent? | Free exchange | Economist.com
The Chinese have [...]