Lunchtime Links 2-5
Euro debt fears roil global markets (Shah, WSJ) The U.S. is less worse than Euro economies, so Euro trouble causes flight to the dollar. Funny that we’re viewed as quality: When you factor in the debt of state and local governments, we’re in similar trouble….never mind unfunded liabilities for Medicare and SS.
Moody’s warns about U.S. credit rating (FT) These warnings have been fairly frequent.
Bernanke’s exit strategy: tighter reserve requirements (Kessler, WSJ) A good op-ed from yesterday. Another way of sequestering excess reserves, besides paying banks not to lend them out, is to just require them not to.
Unemployment rate falls despite declining payrolls (Mutikani, Reuters) The hard data, for those interested, is here.
How banks can win despite being second (Eavis, WSJ) Modifying the first mortgage frees up homeowner income to service their home equity lines of credit and other second lien mortgages…
Why we keep getting poorer: housing costs rising as % of income (Charles Hugh Smith)
Biggest bubble in history is growing every day (Pesak, Bloomberg) He’s referring to China’s reserves.
13-year-old QB commits to USC (Carrosquillo, FoxNY)
New ski warnings (CollegeHumor)
Global air traffic volume (note how it varies with the sun)…