Its generally pretty diffcult and otfen a little too late to revive something after its dead. Although reputedly Jesus managed it.

“to come or bring back to a healthy, vigorous, or flourishing condition after a decline”

George Soros’ FT piece claiming this may be a terrible recession and that China will come out the winner:
http://www.ft.com/cms/s/0/24f7.....07658.html

Which leads to a brilliant new Foreign Affairs article about the rise of China and how to deal with it and not fuck up the world in the process.
http://www.foreignaffairs.org/.....-west.html

IMO this last one should be required reading.

It is bad news when the markets panic. It is worse news when one of the world’s key monetary policy making institutions panics. Today the Fed cut the target for the Federal Funds Rate by 75 basis points, from 4.25 percent to 3.50 percent.

This extraordinary action was excessive and smells of fear. It is the clearest example of monetary policy panic football I have witnessed in more than thirty years as a professional economist. Because the action is so disproportionate, it is likely to further unsettle markets.

Will it work? [today's rate cut]
The answer lies in the unique character of this recession. There are two triggers - a bursting of the US house price bubble and a bursting of the credit bubble. I do not believe that aggressive Fed rate cuts will resolve the extreme imbalance between supply and demand in the US property market that will be pushing housing prices lower for some time. Nor do I believe that recent Fed actions will restore the functioning of credit markets to their pre-crisis state. As a result, pressures are likely to remain intense on housing - and credit-dependent US consumers…

In essence, the Fed is “pushing on a string” here - unable to stop the recessionary dynamic now unfolding. But there will be consequences in the next recovery. Unfortunately, the US central bank can’t seem to break out of the market-friendly trap it fell into nearly a decade ago Panicking over the possibility that yet another bubble is bursting, the Fed is once again injecting liquidity into an asset-dependent US economy. That won’t arrest the recessionary dynamic now unfolding but it could well set the stage for the next asset bubble in America’s bubble-prone economy. Have we learned anything from the mess of the past seven years?

That Bubble (overpricing of stocks, bonds, homes, gold, oil, commodities, everything, exists because America spends too much and saves too little. Go to war, which throws trillions of dollars into the economy. Cut taxes. Keep interest rates low to encourage borrowing, spend spend spend. Issue so many T-bills that there is no way even blind people can delude themselves that the dollar can maintain its value.

Some specifically-targeted program that would help limit the number mortgage defaults would be helpful, on that I’ll agree. Default is bad. But “stimulate spending?” That’s what got us where we are now. Americans don’t need to spend any more; the rest of us do. Americans need to SAVE. I’ll put up some FT snippets.

It wasn’t bad. It was very dark, like liver, and somewhat dense but still very chewy. It was also very lean. I’m not sure what to compare the taste to, but turkey came to mind.