Economist Online

PIMCO’s Paul McCulley gives us a nice graph on Minsky moment:

Following my last post on China’s hunting for the Wall Street talents, NY Times had another report: “Chinese financial institutions, in a reverse brain drain, are looking to recruit from the ranks of recently laid-off finance sector employees”.

Icelanders borrowed over 200% of their income, and in foreign currencies. Many countries in Eastern Europe have the similar problem.