LBO issue 123 has been emailed to electronic subscribers, and is on press for the dead-tree crew. Contents: throwing money at homeowners • regulating finance: newfangled schemes • the stimulus program: how much, who’s getting it, is the debt a problem? • what comes after the Great Recession? • Iraq oil • Mishkin talks more nonsense Tastes of each: LBO 123 contents. This is the fifth on-time issue in five months! If you don’t subscribe, repent and offer appropriate monetary sacrifices at LBO subscription info.
Dubai melts Iceland, only about 80 degrees warmer? The latest sovereign financial crisis is Dubai, whose national holding company declared on Thursday that it needed to stop servicing its debts for a few months. (Wouldn’t it be nice if all of us could do that?) Dubai is a small country, less than 1600 square miles, on the Persian Gulf. It is one of the seven members of the United Arab Emirates. Its population is only about a million and a half, three-quarters of them male, and less than a fifth are citizens…. Read More