World hangs by a thread.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3537362/World-stability-hangs-by-a-thread-as-economies-continue-to-unravel.html

"The global financial crisis has not bottomed yet. The impact is spreading globally and deepening," said Zhang Pin, head of the national development commission. "Excessive bankruptcies and business closures will cause massive unemployment and stir social unrest".

All great economics problems cause massive change and not usually a good kind

"What happens when China attacks Japan? Will the US retaliate on our behalf?"

WWIII that is what happens.

Russia is a hostage to oil prices. If Urals oil stays below $50 a barrel for long, we are going to see an earthquake of one kind or another.

Likely to happen sooner then later.

Why the Dollar is in deep trouble.

http://www.ft.com/cms/s/0/12eab3b4-bf06-11dd-ae63-0000779fd18c.html?nclick_check=1

“Investors might renew their flight to safety, though this time away from dollar-denominated assets, thereby forcing the US economy into a hard landing and pulling the global economy into a deeper recession,”

If we are lucky it will be a deep recessison.

Google

http://online.wsj.com/article/SB122826503489174369.html

When you cuts perks you effect moral, when 97% of your revenue is one stream watch out. Rough water ahead for google.

Meredith Whitney Op-ed from FT

http://www.ft.com/cms/s/0/11344d06-befb-11dd-ae63-0000779fd18c.html

She is now more bearish? Ouch.

Auto sales ugly

http://www.247wallst.com/2008/12/ugly-motor-sale.html

The good news is that this was not any worse than the estimates. The bad news is that calling this good news would be like rewarding your kid for almost passing the math class being taken for the third time.

If you gone 25% each month when do you hit zero? Humor for the day.

Hedge fund sues WSJ for disclosure

http://www.ft.com/cms/s/0/91002758-bc26-11dd-80e9-0000779fd18c.html

SRM claims the newspaper acted in "flagrant disregard'' of its rights by publishing in August that the fund was down about 85 per cent since its inception in 2006.

Hmm your losses are double the SP index, sounds like news to me.

Cali is broke

http://ftalphaville.ft.com/blog/2008/12/02/18971/californias-fiscal-emergency/

Cuts are coming and taxes are going up.