Extra Credit, Monday Edition

How Obama Really Won the Election: Nate Silver says it was all about the cities.

The Bad News: Is Obama’s presidency doomed before it even starts?

Cost of Borrowing Zooms Up for Corporations: Nabors, for instance, just issued 10-year debt at 9.25%, up from 6.15% a year ago. But Nabors is in the oil industry. Baker rebuts; Krugman rebuts the rebuttal.

The City Where the Sirens Never Sleep: Make the time to read this 10,000-word story on Detroit.

Why not nationalise? "Time to quit mucking around and make with the nationalisations." Says the Economist.

The Grain: "Recall that when cooking, oftentimes cutting against the grain is the right thing to do. Think of banking panics as the economic equivalent of flank steak."

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