Round-Up

Icelandic charities are busier than usual.

Japan, the 2nd-largest economy in the world, may be in much much worse shape than the U.S. (and note: fiscal stimulus has had very little positive effect in Japan, and they've been trying it since 1997).

Russia is concerned about civil unrest, and is devaluing the rouble at record rates in hopes of boosting exports.

Latvia is the new Argentina.

U.S. and U.K. retailers are expecting the worst.

Some government officials in China want the government to take a more intrusive role in the economy.

Oh, and Christmas carries huge deadweight losses.

Happy Holidays.