Japan Economy Accelerates, Reducing Danger of Renewed Recession – Bloomberg.com
Economist’s View: Fed Watch: Should the Fed Be Doing More?
China rounds on U.S. rates as global economic risk
The Best F**king Book About the Financial Crisis?
Richard Thaler – At Swoopo.com, a Price for the Thrill of the Auction – NYTimes.com
Economist’s View: "The [...]

An article in the National Post suggests General Motors may look to divert some of its bailout money to Europe in the wake of a chill in German government support for subsidies. Talk of using taxpayer money to benefit workers in other countries is sure to raise ire, especially in the United States where the [...]

On the eve of U.S. President Barack Obama’s visit to China, a major Chinese official has criticized U.S. monetary policy in unusually harsh language. Liu Mingkang, China Banking Regulatory Commission chairman said the zero interest rate policy of the U.S. Federal Reserve posed a “new systemic risk.”
Liu, using language reminiscent of warnings by NYU economist [...]

Deluge of Pleas to Spare Oreo, Dog Thrown Off Roof – City Room Blog – NYTimes.com
Bob Herbert – A Recovery for Some – NYTimes.com
Bair calls U.S. bank bailout not a good thing | Reuters
It’s the stupidity economy – Paul Krugman Blog – NYTimes.com
Picture du Jour: Dow rally in perspective – Prieur du Plessis
BBC NEWS | [...]

Today, I want to run a few thoughts by you courtesy of John Mauldin.  In his recent weekly newsletter, he makes a number of points I have made here over the past few weeks and comes to a similar conclusion about the weakness of recovery and the likelihood of a double dip recession.
John Mauldin, Best-Selling [...]

Orion Bank, Naples, Florida
As of October 31, 2009, Orion Bank had total assets of $2.7 billion and total deposits of approximately $2.1 billion. The FDIC accepted a 1.5 percent discount from IBERIABANK on the deposits of the failed bank. In addition to assuming all of the deposits of the failed bank, IBERIABANK agreed to purchase [...]

Hat tip Barry Ritholtz

Bill Gross of Pimco spoke on Bloomberg with Tom Keene and Ken Prewitt. He thinks the U.S. is entering a new normal of low nominal GDP growth. However, financial bets have been made on 6-7 percent nominal GDP (think pension liabilities).  Unless we get 5-6% nominal GDP growth debt deflation and deleveraging dynamics (the D-process)will [...]

From Bloomberg:
Confidence among U.S. consumers unexpectedly dropped in November as the loss of jobs threatened to undermine the biggest part of the economy.
The Reuters/University of Michigan preliminary sentiment index decreased to a three-month low of 66 from 70.6 in October…
Rising joblessness puts the economy at risk of slipping into a vicious circle of firings [...]

Finance and Economy

Wall Street Makes It Hard to Earn Legal Living: Alice Schroeder – Bloomberg.com
FT Alphaville – FDIC saves securitisation
BBC NEWS – Russian economy growing strongly
Henry Kaufman: The Real Threat to Fed Independence – WSJ.com
Origins of the Federal Reserve – Murray N. Rothbard – Mises Institute (controversial but interesting)
Richard Russell: Six reasons to [...]