Breakfast Buffet, Thursday, April 16

Phew! We at the WON blog congratulate you on making it through a particularly taxing tax season.

No Más: Spain's central bank chief says on any further fiscal stimulus, arguing the injections have reached a point of diminished returns. Unemployment in Spain is already at 15 percent and expected to worsen, making it the highest rate in the 27-country European Union.

Monroe Doctrine, Kaput: China steps up its game in Latin America, where it is the second-biggest trading partner, a move one analyst says is possible because of the lack of attention shown during the Bush administration. That is likely to be on Obama's mind when he meets with LatAm's leaders this weekend, especially since, as we learned recently, the Chinese are not the only ones eyeing the region's markets.

Foreclosure Tempest: The U.S. foreclosure floodgates opened in March as moratoriums expired. One out of every 159 households got hit with a foreclosure filing. It's not letting up anytime soon; analysts say the effect of the Obama mortgage bailout may not be seen until autumn.

The Big Engine That Could: Although growth in China's reserves has slowed, Brad Setser says they're still growing--and by more than you think. Nonetheless, that slowdown has led to a slowdown in its purchases of U.S. assets.

Raining on the India Parade: Indians should give Manmohan Singh the boot in today's elections, says Razeen Sally, aiming to deflate the "India hype" peddled by "smooth-talking" elites. Because the present government has failed to enact necessary reforms, he argues, India should be counted in the same league as China as an emerging superpower.

The Bailout of 1825: Brad DeLong takes to the pages of The Week to give us an English history lesson on bubbles and bailouts. The story has a happy ending.

Breakfast Buffet, Thursday, April 16 | News