We are entering “largely uncharted territory” on the economy. (via Calculated Risk)

James Hamilton at Econbrowser on research into what might have happened to the housing market if the Fed had not been as easy for as long as it was.

Sam Jones at FT Alphaville on the debate over the Fed’s next move.

Michael Mackenzie at FT.com writes “..financial stocks (are) trading at their cheapest levels on a book value basis in a decade.”

Jeff Matthews on ‘conduits’ and a chance that “State Street has a problem.”

Lawrence Carrel at TheStreet.com on how the subprime mortgage mess has affected muni bonds.

Global equity market returns in August. (via Bespoke Investment Group)

“But according to a new report from Standard & Poor’s it is a fallacy to assume EM sovereigns are in some way insulated from the credit storm.” (via FT Alphaville)

Are foreigners “all in” on domestic equities? (via Big Picture)

Adam Warner at the Daily Options Report has thoughts on “a cheapo put lottery ticket” and a “lousy NL.”

“U.S. workers continue to lead the world in productivity…” (via Real Time Economics)

David Shvartsman at Finance Trend Matters highlights a nifty little quiz that will help assess your overconfidence.

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