Breakfast Buffet, Monday, May 21

By Barrett Sheridan On 5/21/09 at 8:52 AM EDT

Think You See Green Shoots? You're Wrong: Nouriel Roubini, aka Dr. Doom, must have some strange biological or neurochemical processes in place that give him pleasure for undercutting optimists. Of course, he's often right, and he expects the recession to continue through the end of the year.

Asia Needs to Ditch Its Growth Model: Or so says Michael Pettis, finance professort at Peking University (and also regular contributor to Newsweek). China and other export-dependent countries simply can't depend on the West to buy up its cheap socks and stereos any more.

Is California Too Big to Fail?: Megan McArdle says no, we should let them go bankrupt, and bankrupt they will go, because "California is completely, totally, irreparably hosed." Blame all those spending initiatives.

Don't Let the Glitter Hypnotize You: Gold bugs say we're in for an era of inflation, and the only safe place to stash your money is in gold. Daniel Indiviglio thinks that's idiotic.

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