links for 2008-10-06

  • In the long term, monetary unions do not survive without political union, and so the fifth conclusion is that there are pressures both for closer integration and for disintegration. The crisis could strengthen those who argue that the halfway house is inherently unstable and will remain so until there is fiscal as well as monetary union. On the other hand, the growing threat of recession may make some countries question the value of remaining in a monetary union.
    (tags: europe economy)
  • Maybe only a friendly foreigner could say this. But America needs to realize that not everyone can own a home. The American Dream of home ownership for all is a fraud. Politicians who pimped this dream created an unsustainable mortgage industry whose collapse is only surprising because it didn't happen earlier. America's mortgage industry will not recover, nor deserve to recover, unless it is prepared to challenge this politically unpalatable reality.
  • The current housing and credit crises has many, many underlying sources. Its my opinion there were two primary causes leading to the boom and bust in Housing: A nonfeasant Fed, that ignored lending standards, and ultra-low rates.
  • The full story then involves additional resources being put on the table — for possible risky investment — as a result of easy monetary policy, pro-housing government policies, the global savings glut, and simple bad luck.
  • Forskningsöversikten visar att narkotikabruket i hög grad drivs av fyra faktorer: pris, tillgänglighet, normer och beroende. Åtgärder som påverkar dessa faktorer är därför angelägna och i synnerhet åtgärder för att begränsa tillgängligheten.
  • The results of our study reveal that both the private and the public domain of life are important to understanding emigration from a high-income country like the Netherlands. The more negative one is about the public domain, the more likely it is that one will actually emigrate (see Figure 1). Of course, the Dutch who stayed are also negative about large parts of the public domain, but emigrants (“movers” and “dreamers”, i.e. those who intended to emigrate but have not yet) are far more negative than those staying behind.1 The biggest difference between emigrants and those staying behind is the evaluation of the quality of public space. Without knowing how people feel about the quality of the public domain, large-scale emigration would remain a mystery.