Economy update - Recession Porn

These are some things that caught my attention in the past few days. I am really in a doom and gloom mood about the (economic) situation of the world. People have been referring to all the negative news and comments on the economy as "Recession Porn". Here is some to satisfy your needs:

  • Change Of Mindset - Andy Xie - Excellent read on the misconceptions about "stimulus"
  • John Mauldin - The Velocity of Money - Mr Mauldin is one of my favorite reads (every week)
  • Bubble, Bubble, Toil And Trouble -- TIME - Seems like very expensive real estate in Shanghai to me
  • John Lanchester · The Great British Economy Disaster - This sentence struck me the most: "It has been both the deepest and the longest downturn since records began. And yet, to be honest, it hasn’t quite felt like it." I feel a lot of people in the Netherlands share similar sentiments. This is probably the biggest crisis of our lifetime and yet we are still waiting for it to really hit us. Right now, everyone is starting to have this (false) sense of security again. I am in the camp that believes that we are only in the eye of the storm.

To close of, watch this short video on "off balance sheet" accounting. This sort of thing can really get me upset/angry. Especially in light of the recent stream of news events on Lehman Brother's accounting practices.

Frank Partnoy on Off-Balance Sheet Transactions (MMBM) from Roosevelt Institute on Vimeo.

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