Perennial content contributor Cheryl N. found this “must read” MSNBC piece: Credit Crisis Prompts Unprecedented Response [1]. It squares nicely with what I have been writing since the Spring of 2007: The global credit collapse is unprecedented, and will be both deep and prolonged. We are nowhere near the bottom yet!
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From The Guardian: Greenspan warns more banks may be bailed out [2]. (A hat tip, again, to Cheryl N. for the link.)
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John R. recommended a brief speculative piece on state secession, penned by fellow SurvivalBlog reader Bill Buppert, recently posted over at LewRockell.com: ‘Good Morning, Mr. President.’ [3]
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I mentioned this slide show linked at The Drudge Report once before: The World’s Most Worthless Money [4]. OBTW, their data on Zimbabwe has now been thoroughly overcome by events.On August 1st, Comrade Mugabe’s henchmen lopped 10 zeros off their new national notes [5]. So one of those pre-August Z$100,000,000 notes is now worth only one 1/10th of a cent. And buying a house that would cost $50,000 if denominated in US Dollars would cost $450,095 in the new Zimbabwean dollars. (Or, Z$4,500,950,000,000,000 in the old currency.) Four and a half quintillion dollars! As Buckaroo Banzai would say “That’s a lot of zeros!”