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August 24, 2008

Sneak Peek at Weekend Reading: Oil, Recession, Roubini, Quants

Here is a sneak peek at some links from my weekly Weekend Reading column over at TheStreet:

  • Reliability of oil supply/demand forecasts challenged (O&G Journal)
  • Securitization isn't going away, even if credit crisis has been a surprise in its severity (IDD)
  • Denmark leads the list of the world's happiest countries (BusinessWeek)
  • Here is hoping Nouriel Roubini is proven wrong (Bloomberg.com)
  • UK banks face double property crash (Reuters)
  • Tudor Jones' new quant fund turning in standout numbers (New York Post)
  • Goldman says half the world's economy already in recession (Telegraph)
  • Fascinating profile of bagless vacuum inventor James Dyson (Telegraph)

The U.S. as Financial Nuisance

Cute quote from a French banker after the crisis of 1907 that I just ran across:

The U.S. is a great financial nuisance.

Coming after nasty U.S.-led financial crises in 1873, 1884, 1890, 1893 and 1907, this was an understandable and widely-held view. But after going a big chunk of this century without such crises (arguably from 1941 to 1971), the U.S. is seemingly back to its old tricks: We have had U.S.-sparked banking/financial crises in 1988, 1998, 2000, and 2007/8. How long until someone says the same thing about the U.S. as financial nuisance today?