In other words, the global financial system can best be described as an enormous black box, one which may or may not be able to smoothly absorb the deflation of a record-breaking U.S. housing price bubble. Again, given past experience, my money would be on the "not."
June 2, 2005
Billmon: Dream House
June 1, 2005
Redesign of MoA
Moon of Alabama is a month away from its first birthday and I am thinking about and testing a redesign.
In visual appearance-handling and in content-topics – what should be changed, what should not be changed?
Please let me know.
UPDATE: – Not fishing for compliments here – please – seriously – there are imperfect things here – in style and in matter – please name them. Thanks.
Small On Economy
Q: … My question, sir, is how should Americans think about China? As an ally? A rival? Competitor? Friend?
THE PRESIDENT: … And so China is a fascinating country that is significant in its size. Its economy is still small, but growing. …
President’s Press Conference , May 31, 2005
Rank Order – GDP – purchasing power parity – 2004 est.
1 United States $ 11,750,000,000,000 2 China $ 7,262,000,000,000 3 Japan $ 3,745,000,000,000 4 India $ 3,319,000,000,000 5 Germany $ 2,362,000,000,000 6 United Kingdom $ 1,782,000,000,000 7 France $ 1,737,000,000,000
WMD In The White House
The Bolton Senate confirmation as U.S. ambassador to the UN is reaching a new level. According to the International Herald Tribune piece U.S. firms said to be named in withheld Bolton documents:
Some of the information that the White House has refused to provide to Congress for its review of the nomination of John Bolton includes the names of American companies mentioned in intelligence reports on commerce with China and other countries covered by export restrictions, say government officials who have been briefed on the documents.
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