May the New Year bring a global financial picture that looks less like a roller-coaster ride at Disneyland and more like a consistent incline on a hike 😛

Here are a few links for your enjoyment.

• Money Multiplier down which means available credit isn’t leaving the system.
• Old but good: America actually earns more from its assets abroad than it pays to foreign investors. Precursor to this other article by Krugman on debt v deficit and why those in the know know nothing, Dean Baker adds to the argument that government debt is not as big a burden on future generations. Nick Rowe and Don Boudreaux respond.
• Why Mitt Romney is an idiot and those who vote for him are the same. The stupid ‘fear mongering’ on job data.
• Solution? Bring back boring banks.
• Greek crisis means we all need to work longer. That saves money right?! Wrong.