- Nouriel Roubini recommends several drastic proposals. (registration req’d). These include:
massive and more unorthodox monetary policy easing to defrost credit markets even if this may imply central banks widening collateral and taking greater credit risk; massive and front-loaded fiscal stimulus more on the spending than tax side and with income relief to agents with high marginal propensity to spend (poor, unemployed, state/local governments); rapid takeover of insolvent banks – full nationalization – and their quick clean-up and re-privatization (etc.)
- New York Times ignores corporate welfare issues.
- Israel continues to block charity shipments to Gaza.
- Tom Engelhardt on U.S. foreign policy-speak.