Our friends Cheryl N. and Commander Zero [1] both sent a link to an interesting article encapsulating the hows and whys (or at least one interpretation of them) of the current economic situation: Uncomfortable Answers to Questions on the Economy [2].
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Cheryl N. also found this: US Food Groups Plan Hefty Price Raises [3]
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Bloomberg reports: GM, Ford ‘On the Verge of Bankruptcy,’ Altman Says [4]. (A hat tip to Dan B. for the link.)
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Frequent content contributor Kevin A. sent this: “Is America ready for (true) foreign ownership of major financial institutions? And do we have a choice?” asks Nouriel Roubini, economics professor at NYU’s Stern School. ‘They’re All Toast’ [5]
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The Daily Reckoning [6] reports that with its currency hyperinflation rate at a nearly incalculable level, the Zimbabwean government has introduced a Z$100 Billion bank note. As my friend “Kevin Lendel” would say: Twice nothing is still nothing.