Economic Links for Weekend

• The Problem with falling house prices - Margaret Beckett suggested that first time buyers should try to get on the property ladder soon. There is something in the assertion that house prices could well boom again, but not for quite a while. Falling house prices creates a powerful negative momentum which will continue in 2009
• Why Short term funding is drying up
• Are we in an official recession? - amazingly not yet. Though it is only a matter of time before 2008 Q4 statistics are produced confirming what is self-evident to all
• Reasons for Chinese Current account surplus
• Risks of Deflation - Paul Krugman's blog
• Obama rejects Pigou club - Obama talking about reducing petrol tax in America. Economists want tax on gasoline in US raised to reflect the social cost of driving
• The World Economy declining sharply - at Economist