The fish place is gone

Just when you think that Princeton's Forrestal Village couldn't sink any further, the fish place at the food court closes. That was a good place. Probably spoiled by spoilage of real fish and inability to forecast demand. Should have hired consultants, clearly.

Princeton continues to hollow out, gradually, imperceptibly. A Bloomberg building is also vacant. Is this some creeping harbinger of the economy at large, or just a local thing?

One thing's for sure. There ain't no great or compelling ideas out there, and however you slice it, much focus is on defense, defense against invasion, hedging against bubbles, etc. Not only does nobody know what the next big thing will be, nobody's even trying.

Edward Altman of NYU said that debt markets forecast about a 30% probably of a GM default this year, much higher as you look out a few years. The distressed investment community is girding itself up for a troth. But that ain't much a new new thing.