1. Megan McArdle has some interesting predictions about what won’t happen after yesterday’s healthcare vote.
2. Arnold Kling discusses why Modigliani-Miller just doesn’t apply in the real world. It is interesting that many of the differences happen to favor leverage.
3. Eric Falkenstein highlights the difference between a popular account and an accurate account of the recent bubble. It is too bad that people are seemingly hardwired to prefer stories with heroes and villains.
4. Scott Sumner vs. Paul Krugman on US policy as it regards China and its currency.
5. Michael Pettis looks at the potential impacts of a revaluation of China’s RMB.