Roubini: more bad news

  • Global, synchronized, recession.
  • Recession continues through 2009 with weak, 1%, growth in 2010.
  • Unemployment at 9% in 2010. Job losses easily at 500k/month through 2009 and may be worse. Stimulus may lower that to 200k/month.
  • $1.8 trillion loss for banks; need another $1.4 trillion for banks to recover.
  • Top 3 banks in US are technically insolvent. Nationalization only reasonable approach. Re-privatize them in 2-3 years. Otherwise, end up with zombie banks like Japan: a decade of stagnation.

  • Deficits this year: 2 trillion; next year 1.5 trillion.

Warren Buffett and Obama

Here is Warren Buffett interview by Tom Brokaw on Dateline NBC. Buffett is very positive on Obama’s leadership. (7 min):

.msnbcLinks {font-size:11px; font-family:Arial, Helvetica, sans-serif; color: #999; margin-top: 5px; background: transparent; text-align: center; width: 425px;} .msnbcLinks a {text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px;} .msnbcLinks a:link, .msnbcLinks a:visited {color: #5799db !important;} .msnbcLinks a:hover, .msnbcLinks a:active {color:#CC0000 !important;}

Fixing libxml2, php, WordPress, and the missing angle brackets

Someone posted a temporary fix for WordPress that takes the raw xml and replaces the offending entities with characters. He found three places. The fix looks like:

//xmllib 2.7.0 -2.7.2 stripping leading angle brackets bug patch
if(LIBXML_DOTTED_VERSION == '2.7.0' ||
  LIBXML_DOTTED_VERSION == '2.7.1' ||
  LIBXML_DOTTED_VERSION == '2.7.2') {
  $xml =str_replace("&lt;","<",$xml );
  $xml =str_replace("&gt;",">",$xml );
  $xml =str_replace("&amp;","&",$xml );
}
//end Fix
xml_parse($parser, $xml);