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Readings 02/26/09

• The reverse industrial revolution (MarketWatch)
• Why did monetary policy fail? (TheMoneyIllusion)
• Future of Europe is "bleak", and capitalism is a "ponzi scheme" according to a former German vice-chancellor (Telegraph)
• China closes Tibetan side of Everest to climbers ahead of anniversary of Dalai Lama's exile(Telegraph)
• Oh Sh*t...Even Index Arb Isn't Safe (Cassandra)
• Mendoza Line (Wikipedia)
• Unemployment Insurance And Unemployment Spells (SSRN)
• Greeks shut airports, services to protest economy | U.S. | (Reuters)
• Long look at Treasury Sec Geithner paints him as a capable bureaucrat without iota of leadership – also tips eventual death struggle with Volcker (Bloomberg)
• Are S&P 500 Earnings Wrong? (Bespoke)
• Are US Banks Worthless? (Minyanville)
• China taxes reveal spending slowdown (Bloomberg)
• Jeremy Grantham on how bad the bear could get (CNN)
• The party on Mt Palomar during the Tour of California (VeloNews)

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