A good collection of links from economic factors to stock market analysis

Articles to ponder and read

• Joseph Stiglitz re-examines the cause of the Great Depression and applies it to today. Click here.
• And here The Economist responds to him. (It's rubbish, they say.) Click here.
• Christopher Hitchens is dead. He was a great writer and independent thinker. Here he is talking about the art of writing and life in general. Click here.
• Here's his website, called The Daily Hitchens. Click here.
• Here is a compendium of his outburts (quotes). Click here.
• A nice piece in New Yorker by his friend Christopher Buckley. Click here.
• A collection of his articles put together by Slate. Click here.
• And finally, here he is in debate on the question: can morality exist without God. Click here.
• What went wrong with the Freakonomics formula. Click here.
• Europe: The Brussels plan is a decent stopgap. But if Europe's countries in crisis can't hold out long enough to start growing their economies again, it won't matter. Click here.
• Ric Battelino's excellent speech about Europe and the effect on the banks and Australia. Click here.
• This was a terrific interview by Phillip Adams with Stratfor's George Friedman on "The Next Decade". Click here.
• Market conditions have switched to "Hard-Negative", says John Hussman. Click here.
• Europe is systemically important for at least three huge reasons. Click here.
• Zero Hedge on the Australian bank stress tests. Click here.
• 19th Century 'Protestant Work Ethic' at Heart of Europe’s North/South Debt Crisis Split. Click here.

The small credit unions( BANK OF QUEENSLAND &  MEMBERS EQUITY BANK ) jump started the  Christmas spirit  with passing on the full rate cut   and t he big four  followed suit  to brighten up everybody's Christmas.

In spite of the sorry looking  state of affairs in Europe and the US ,  our banks  have weathered this financial crisis much better than some other countries  and have given the aussies some respite this Christmas by passing the full rate cut   to  mortgage holders. This will come a s a big relief to many  home owners who  have been  faced with mortgage stress.

Among the “big four banks” ANZ was the first of the big four to announce it was passing on the official quarter of a percentage point interest rate cut

Banks that passed the official quarter of a percentage point interest rate cut

• ANZ BANK

• NATIONAL AUSTRALIA BANK

• COMMONWEALTH BANK

• WESTPAC BANK

• BANK OF QUEENSLAND

• MEMBERS EQUITY BANK

While the economy  is booming  and the royalties from our mines which are flowing into the  government coffers, there has been a rise in insolvencies with small businesses  due to the one speed economy  resulting in loss of jobs and mortgage stress.

Australians will get a breather  with the rate cut  and many will  be opening their purse strings  bit  to splurge on some  Christmas shopping also resulting in some  cheer for the aussie retailers , who have  been experiencing a gloom rather than the boom the mining sector is enjoying.