The world recession that began in the U.S. is hitting Germany much harder than us, due to a collapse in world trade that has damaged an economy that Germans constantly refer to as “the World Export Champion.” Their economy will have shrunk by about 8% by the time it bottoms, whereas America’s GDP should fall less than 4% from its peak. Intriguingly, the German public and elites feel much better about their situation than Americans do about ours. The key question is whether this represents: a justified faith in a system that works well for them; government measures that delay the pain; German complacency; or some combination of these factors. Germany’s Recession vs. America’s: Doing Worse, but Feeling Better

Vital signs  Stock markets brighten, but is it a real recovery?

JP Morgan and Citigroup are most sympathetic in altering terms, but Bank of America modifies only 4% of eligible loans .US banks show ‘uneven’ progress in implementing mortgage rescue scheme

Although they remain bullish on long-run prospects, two veteran optimists on China recently turned pessimistic on the country’s short-term prospects. Jittery bulls in the China shop

COMMODITY markets have become too frothy, which could lead to greater price volatility in the coming months, Mick Davis, the chief executive of Xstrata, has warned.Commodity prices too frothy, says Xstrata CEO Mick Davis

Even waves of factory closures, bankruptcies and a stock-market crash cannot hold back the Chinese miracle, with wages now growing faster than the country’s economy. It is so amazing that even state media are starting to say something doesn’t add up.China works pay miracle

Forget about the beauty of space. The goal of “rocket scientists” in the United States in the 21st century is to develop market-data machines tuned to the microsecond, to help Goldman Sachs dominate the world of finance – and to avoid, if possible, the long arm of the Federal Bureau of Investigation. Has investment that benefits only the few ever been so esoteric and glorious?.Goldman Sachs, the lords of time

European equities are an attractive long-term opportunity for Canadian investors.High yields make Europe attractive