Edward Hugh and Stephen Roach lend heft to my continuing gloom about the world economy. Hugh: “The outbreak of war has released a tension that had been building up for months. Now it has finally arrived, and the market response is a reflection of this feeling. What happens tomorrow, when it is all over, this is anyone’s guess. My own feeling is that the hangover of discovering that the problem was something more than geopolitical uncertainty may have negative consequences.”
Many weblogs have pointed to Dear Raed, a blog written by an Iraqi in Baghdad. Paul Boutin decided to determine whether the blog was really from Baghdad or a hoax. His conclusion: it’s probably the real thing. I wish the kind of scepticism that motivated Boutin weren’t necessary, but that’s the kind of intelligence that will increasingly be necessary for those of us who get our information from weblogs and other personal sources.