links for 2009-11-13

The Federal Housing Administration's cash reserves have shrunk to a level far below what is required by law, and the agency could need taxpayer funding if worst-case scenarios play out, according to an independent audit designed to measure the agency's financial soundness.

Airlines, automobiles, health insurance, energy, commodities, education, housing, and utilities…. these are a few examples of areas in the American economy that increasingly show up in headlines reporting price increases, sometimes with percentages in the double-digits.

A good definition of expansionary monetary policy is the printing of money to purchase financial assets. Expansionary fiscal policy is the selling of financial assets to purchase goods and services, to cut taxes, or to increase transfers. On these definitions, both monetary and fiscal policy can be effective when short-term interest rates are zero.

In the latest sign of the Las Vegas Valley’s economic free fall, U.S. citizens are starting to show up in the early mornings outside home improvement stores and plant nurseries across the Las Vegas Valley, jostling with illegal immigrants for a shot at a few hours of work.

Lloyd's List reports that "there are now 129 tankers deployed for temporary storage by traders and investment banks".