G.G. sent this for the I-Told-You-So Department: Home prices heading for triple-dip. Mark you calendar for June, 2022. That might be a reasonable date for price recovery, barring a mass currency inflation. But even that of course wouldn’t be a genuine market recovery, when gauged in real home values (adjusted for inflation).
Don’t miss this great piece by Thomas L. Friedman: Did You Hear the One About the Bankers? (Thank to Jed F. for the link.)
Ben S. sent this: The Inflation Shock and the Fall Melt-Up of 2011
Despite Debt Deal, Europe May Slide into Recession
John R. sent this: Papandreou’s Power Weakens as Lawmakers Rebel on Vote
Greek vote would be on euro membership: Finnish minister
G.G. flagged this: US Food Stamp Usage Hits New Record