This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy.

• Richard Ennis (CFA Institute): The uncorrelated return myth, November/December 2009.

• Peter Clarke (Financial Times): How to avoid a repeat of the Great Crash, October 28, 2009. The chain of events leading from a collapse in stock prices on Wall Street to a Great Depression has leapt from history with an entirely fresh verisimilitude. John Authers (Financial Times): GDP grows, but pain remains, October 29, 2009. US GDP numbers were a good enough reason to halt the return of risk aversion, but the key to whether risk appetite can return depends on US employment data.

• Economist.com: As joyless recovery, October 29, 2009. New figures suggest that America has at last moved out of recession.

This post provides links to a number of thought-provoking articles I have read over the past few days that you may also find of interest.

• Fred Bergsten (Foreign Affairs): The dollar and the deficits: How Washington can prevent the next crisis, November 2009. If the US is serious about recovering from the global economic crisis, it must balance the budget, stimulate private saving, and embrace a declining dollar.

• Randall Forsyth (Barron’s): Weak dollar equals strong stocks, for now, October 14, 2009. As long as there is no ready substitute for the dollar, Wall Street can celebrate the currency’s steady decline. And U.S. GDP will be boosted by a cheap greenback’s spur to exports and deterrent to imports. This cannot go on forever, however. The dollar’s fall may not have started on President Obama’s watch, but it may become his problem.

This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. Please also add the links to any other thought-provoking articles you would like to share to the comments section.

• Nouriel Roubini (Forbes): Are there bright spots amid the global recession?, August 6, 2009. A snapshot of the better economies.

• Gillian Tett (Financial Times): The liquidity pipes remain clogged, August 6, 2009. Banks seem unwilling to use spare liquidity to engage in activity that regulators or shareholders might deem risky.

• Joseph Stiglitz (Project Syndicate): Keep shovelling that stimulus, August 7, 2009. What is needed now is another dose of fiscal stimulus. If that doesn’t happen, we can look forward to an even longer period in which the economy operates below capacity, with high unemployment.

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This post provides links to a number of thought-provoking articles I have read over the past few days that you may also find interesting.

• John Hussman (Hussman Funds): Biting a bullet, July 27, 2009. In my view, investors have left themselves far too little room for error, not only in stocks, but also in corporate bonds. We’ll take our evidence as it comes, and change our positions as the expected return-to-risk profile of the market changes. For now, we remain defensive.

• Alan Blinder (The Wall Street Journal): The economy has hit bottom, July 23, 2009. How’s the economy, you ask? I have the proverbial good news and bad news, but in this case, they’re exactly the same: The US economy appears to be hitting bottom.

• Wolfgang Münchau (Financial Times): There is no easy way out for central

This post provides links to a number of interesting articles I have read over the past few days (while touring through Switzerland) that you may also enjoy.

• Samuel Brittan (Financial Times): A new guide for the perplexed, July 10, 2009. Attempts to make sense of the financial crisis often lead to even more confusion, writes Samuel Brittan. Here is an attempt to outline the main issues.

• Beat Balzli and Michaela Schiessl (Spiegel): Global banking economist warned of coming crisis, July 8, 2009. William White predicted the approaching financial crisis years before 2007’s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy.

• Janet Morrissey (Time): Advice from an economist who saw 1929, July 9, 2009. The Obama Administration should stop bailing out corporate disasters and

This post provides links to a number of thought-provoking articles I have read over the past few days that you may also find of interest.

• Joseph Stiglitz (The Nation): A global recovery for a global recession, June 24, 2009. As developed countries struggle to ensure a quick recovery, they need to think of the effects of their actions on developing countries. It is time to begin the restructuring of our global economic and financial system in ways that ensure that the fruits of prosperity are more widely shared and that the system is more stable. This task will not be accomplished overnight. But it is a task that must be begun, now.

• Philip Stephens (Financial Times): Co-ordination falls away as the global crisis abates, June 26, 2009. There was a surprising degree of co-operation on the international response to

This post provides links to some interesting articles I have read over the past few days that you may also enjoy.

• Doug French (Ludwig von Mises Institute): Dead banks walking, 11 June, 2009. It’s widely acknowledged that hundreds if not thousands of banks are on the ropes and just waiting for regulators to wrap them in yellow tape some Friday evening. However, fewer than forty US banks have been seized this year. The Federal Deposit Insurance Corporation (FDIC) list of problem banks grew to 305 in the first quarter, the highest number since 1994, but of course the names of those banks are not released so that depositors can be forewarned.

• The Economist: Seeing red, June 10. America’s debt is Barack Obama’s biggest weakness

• Arthur Laffer (Wall Street Journal): Get ready for inflation and higher

This post provides links to some interesting articles I have read over the past few days that you may also enjoy.

• Andrew Bary (Barron’s): A pessimistic assessment, especially for Europe, June 1, 2009. An interview with Niall Ferguson. The Harvard professor and media star is cautious on the global economic outlook - and bleak about Europe.

• Niall Ferguson (Financial Times): A history lesson for economists in thrall to Keynes, May 30, 2009. The policy mistake has already been made - to adopt the fiscal policy of a world war to fight a recession. In the absence of credible commitments to end the chronic US structural deficit, there will be further upward pressure on interest rates, despite the glut of global savings. It was Keynes who noted that “even the most practical man of affairs is usually in the thrall of the ideas of

This post provides links to some thought-provoking articles I have read over the past few days that you may also find of interest.

• Anne Kates Smith (Kiplinger): Why three bears turned bullish, June 2009. Veteran analysts tell why they think stocks are heading up.

• John Hussman (Hussman Funds): The destructive implications of the bailout - understanding equilibrium, May 18, 2009. In order to understand the impact of these interventions, you have to think in terms of equilibrium - recognizing that all securities that are issued must also be held by someone - and then follow the money.

• Robert Shiller (Project Syndicate): Story time for the economy, May 16, 2009. Starting an economic recovery is like launching a new movie: nobody knows how people will react to it until people actually get to see it and

The following are some interesting articles I have read over the past few days that readers may also like to have a look at:

• John Hussman (Hussman Funds): Comfortable with Uncertainty, May 4, 2009. Are stocks in a bull market or is this still a bear market? Frankly, I don’t put much energy into that question. The S&P 500 has now corrected about one-quarter of its prior losses. Bear market corrections of about one-third are not unusual, but I wouldn’t bank on that. Having failed to do anything effective to mitigate the second wave of foreclosures that is set to begin later this year, and seeing very little sponsorship in trading volume (despite good breadth), my impression is that we most likely are in a strong correcting rally in the context of an ongoing bear market. At the same time, cash-equivalents are yielding