QE2, London Protests, Banks in Trouble
(1) More on QE2: Here is an amusing video (hat-tip to Steve Schnapp of United for a Fair Economy, our neighbors and landlords). I think it is hilarious, though I think some of the points it makes are questionable. E.g. I think the fear of inflation isn’t warranted, and that there really are deflationary pressures. One claim is flat-out wrong–that taxes are up. But it is still hilarious. I love how they put “the” into everything, to make the voices even more computery.
(2) Banks in Trouble: Here are three articles I’ve been meaning to link to, with more evidence that the big banks are in serious trouble (as Rob Larson says in our current cover story):
–Joshua Holland has a great piece on Alternet, Bank of America Is in Deep Trouble, and There May Be Financial Disaster on the Horizon;
–From Bloomberg (hat-tip Herr Prof. Snyder of Bentley University and the D&S collective): Bank of America Edges Closer to the Tipping Point;
–From the NYT‘s Dealbook, Banks Brace for Costly Fights over Mortgage Mess;
–From PorPublica, Welcome to CDO World!
(3) London Student Protests: You probably heard that students took to the streets of London last week to protest proposed tuition increases. Dan DiMaggio (who wrote this article for us on what it’s like to be a temp) forwarded us a link to this first-hand account from the New Statesman. Check out the comment section–the contrast between the author’s supporters and her detractors is remarkable. I guess property-destruction arouses strong feelings. And here is a video of the protests:
(4) The Great Divergence in Pictures: Great visuals on inequality from Slate. I have linked to the final slide, which is pretty striking (someone sent it to me after the midterms), but the whole series is worth looking at. I wonder what the same graphs would look like if they showed the top 10% vs. just the top 1%.
That’s it for now.