Smart Links 08 October 2011
Articles on what is ahead for the United States, the rise in China’s property values, Paul Krugman lays Europe’s woes at the feet of unbridled capitalism and not spendthrift Greek politicians, the job market still is awful in America, the background behind the $5 Bank of America debit card charge, the Bank of England panics, how America could have won the Vietnam War, and the coming changes to British Columbia’s regulatory body for teachers.
Quote worth quoting.
"America's biggest problem is the fraying of common purpose." -- Michael Lewis
Michael Lewis says things about the United States that needs to be said by someone who has become very wealthy and is comfortable at the heart of the country, football (Blind Side), and baseball (Moneyball). This is no European.
The Big Picture – The United States is a Third World Country
Michael Lewis, author of the new book “Boomerang,” says the United States and many European nations suffered a moral failure which lead to economic collapse. Lewis insists that the U.S. economic situation will get much worse before it gets better.
Land sales in China rose from $70 million to $470 billion between 1979 and 2010. (ed’s note – we don’t know if that means anything but it probably does).
Macro Men -- Local Government Financing in China
Yikes! Look what California’s dependence on tax revenues from the dot.com and housing bubbles did to that state’s fiscal health.
If Spain and Ireland had budget surpluses and low debt on the eve of the crisis in Europe than there is more that explains the problem that Europe is facing than Greece's unwillingness to collect taxes. Thanks to David of Victoria.
Pdf below -- Notes on the Eurobubble
Updated US jobs chart. Thanks to Business Insider.
The background behind the $5 debit card charge.
New York Times -- Charging for Debit Cards Is Robbery
WHEN Bank of America told its customers recently that it would start charging them $5 a month to use debit cards, it argued that it was forced to make that change because of regulations that altered the economics of the cards.
New York Times -- The Universe, Dark Energy and Us
ALMOST every scientific talk or seminar in astronomy today starts from the idea that we live in a universe in which a mysterious force known as dark energy makes up about 70 percent of the total cosmic amount of everything.
Telegraph -- Bank of England hits the panic button
Who was it who said that QE – printing money by another name – is the last resort of desperate governments, when all other options have failed?
The Vietnam War, could there have been a different ending?
Wall Street Journal -- The War Over the Vietnam War
A new biography puts an end to the idea that we could not win.
Our good friend Don of Victoria has been doing good work.
Globe and Mail -- Liberals plan to overhaul B.C. College of Teachers in fall
One of the more anticipated pieces of legislation the B.C. Liberal government will introduce this fall will transform the troubled B.C. College of Teachers.
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