Can it happen again? Ilian Mihov, Professor of Economics, INSEAD used to tell his students that the Great Depression could never happen again - now he is not so sure!

Asia’s revenge? Martin Wolf over at the Financial Times argues that it is time for comprehensive rescues of financial systems rather than a reactive piecemeal approach.

BoE takes a nuclear approach Edmund Conway at the Telegraph says that today’s rate cut was the MPC opting for a nuclear option

2009 will be tough Gary Duncan at the Times reports on a highly pessmistic IMF forecast for the UK economy in 2009

Where in the world am I? BBC news reports on an innovative plug-in for users of the open source web browser Firefox which detects the physical location of computers.