Felix Returns

I’m back! Didja miss me?

So here’s the thing: I’ve been out of the loop for the past three weeks or

so, and it’s going to take me a little bit of time to get up to speed. If you

would, then, can you tell me in the comments here or by email what if anything

has actually happened in the past three weeks which I really ought to know about

for the purposes of this blog? I know the Fed cut its discount rate, so anything

from then onwards really.

My general impression is that no news is bad news: that the credit crunch hasn’t

really ameliorated visibly, and that there are signs that problems which had

hitherto been confined to the financial and housing markets are now feeding

through into the real economy – a problem which rate cuts may or may not

be able to address. Or, to put it another way, nothing’s really happened.

Many, many thanks to Yves Smith for filling in so magnificently in my absence.

The wonkery level will now go down by about seventeen notches; instead, I promise

a new entry under the "facial hair" category

on Monday. You have been warned.

(And yes, I have a copy of that

CPDO report. Thanks. Also, if you want an idea of what I’ve been up to all

this time, you can check out my

posts on Portfolio’s art blog.)

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