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Felix Returns

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by Yves Smith and Felix Salmon
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Sep 09 2007 12:00am EDT

Felix Returns

I'm back! Didja miss me?

So here's the thing: I've been out of the loop for the past three weeks or so, and it's going to take me a little bit of time to get up to speed. If you would, then, can you tell me in the comments here or by email what if anything has actually happened in the past three weeks which I really ought to know about for the purposes of this blog? I know the Fed cut its discount rate, so anything from then onwards really.

My general impression is that no news is bad news: that the credit crunch hasn't really ameliorated visibly, and that there are signs that problems which had hitherto been confined to the financial and housing markets are now feeding through into the real economy – a problem which rate cuts may or may not be able to address. Or, to put it another way, nothing's really happened.

Many, many thanks to Yves Smith for filling in so magnificently in my absence. The wonkery level will now go down by about seventeen notches; instead, I promise a new entry under the "facial hair" category on Monday. You have been warned.

(And yes, I have a copy of that CPDO report. Thanks. Also, if you want an idea of what I've been up to all this time, you can check out my posts on Portfolio's art blog.)

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