Anatole Kaletsky, a columnist at The London Times, argues that recession is unlikely if the U.S. economy gets through the next two crucial months.

Looks like this is the end of the Spanish bull run. Ismael Clemente, head of Deutsche Bank’s property arm RREEF in Spain, told a panel of experts in Madrid that foreign banks were now dumping Spansih mortgaged debt at a 40% discount.

Pondering the crisis, and peddling a new paradigm. George Soros says that America will pay for its “market fundamentalism”, which was “no better than Marxist dogma”.

A cartoon explaining the myth of GOP fiscal responsibility.

Barack Obama is ready to be America’s first black president because he is prepared to tell uncomfortable truths even to his closest relatives, according to his half sister.