Consumer-Loan Delinquencies Rose in November – The Wall Street Journal (subscription)
The 25 Funniest Sketches Of The 2000s (VIDEOS) – The Huffington Post
A strange complacency – Paul Krugman
This whole episode makes me think considerably worse of my former department head.
Why Was Q3 GDP Growth Revised Downward To 2.2%? – The Atlantic
I have to believe 2.2% is a huge disappointment for many of those who were first so impressed with 3.5%. Given the massive stimulus spending, Washington almost certainly would have liked to have seen something closer to that original growth estimate stick.
Social networking changing the way we travel – The Associated Press
Isahrai Azaria is heading to Austin, Texas, in February, and thanks to Facebook, she already has 40 acquaintances, an invitation to go water tubing, and a line on the best vegetarian lunch place in town.
Social unrest ‘on the rise’ in China – BBC News
The country is grappling with more acute social problems than ever before, according to a report from the Chinese Academy of Social Sciences.
Guest Post: Economists Are Trained to Ignore the Real World – Naked Capitalism
As Upton Sinclair said:
It is difficult to get a man to understand something, when his salary depends upon his not understanding it.
States’ jobless funds are being drained in recession – The Washington Post
…40 state programs will go broke within two years and need $90 billion in loans to keep issuing the benefit checks.
Shocking! GDP numbers for 3Q revised downwards! – Patrick.net Forums
I am shocked, shocked! to find the government announcing good initial numbers, knowing that the Media will spend 10x as much time and space on the original announcement rather than the later revision. Off by more than 30%. Just wait until November’s U-3 gets revised in a few months….
Shocker! Banks with Lobbying Ties to Pols Get Bailouts! – The Big Picture
U.S. banks that spent more money on lobbying, were politically connected with the Fed, or had close ties with Pols, were more likely to get government bailout money.
Beware the Taxpayer Bailout of Underfunded Teamsters Pension Funds – Mish
It should be no surprise that the Teamsters (or any union) would want taxpayer handouts, or that Congress would buy votes giving away handouts.
Only Positive Statistic Of Year Announced – The Onion
Amid a growing list of domestic and international concerns such as skyrocketing fuel prices, the slumping dollar, massive recalls of tainted food, the housing market collapse, and an increase in obesity, the American Society for the Prevention of Cruelty to Animals delivered the country’s only positive statistic Tuesday when officials announced that cases of feline leukemia had stabilized.
More on Existing Home Sales – Calculated Risk
