The latest news is that Detroit’s Big Three Auto makers are courting Congress for a $25 billion dollar bailout [1]. This will make the $1.2 billion in loan guarantees to Chrysler in 1979/1980 seem small, by comparison. Just as I had warned, the Mother Of All Bailouts (MOAB) continues to expand in both size and scope. It seems that Congress knows no bounds when it comes to plunging their hands into our wallets.
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Cheryl N. flagged this: US Still Naked to EMP Threat [2]
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Cheryl also sent us this raft of economic articles and commentaries:
Another Friday, Another Bank Closing [3] (#9-Columbian B&T of Kansas), Sterling Tumbles as UK Economy Grinds to a Halt [4], Goldman Sachs Research Says Half the World Economies Are In Recession or on the Brink [4], The Silver’s So Cheap It’s Practically Free [5], The Final Fate of Fannie and Freddie [6], and The Gold Rush Is Still On [7].
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Farmer’s Almanac Says Cold Winter Ahead [8]
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Tamiflu Resistance at 100% in Australia and South Africa (for the H1N1 virus) [9]