A long time ago as far as most people’s memory’s go, Japan had a major real estate bust that lead to a major economic downturn. To fight the down turn Japan’s government borrowed massively to pour a lout of concrete. Now Japan is starting to pay the price. Spiegel has the story.

China’s government thinks that it can set prices for all kinds things. From oil to currency, there is little of importance that trades freely in China. Now this fetish for control is beginning to have predictable economic affects. The Australian has the story.

We are all religious fundamentalists. Our values are not shaped by reason because reason has nothing to say when it comes to values. Nothing illustrates this like the argument over killing cats to save birds. New York Times has a detailed look at the problem.