Norman in England mentioned one consequence of the global credit collapse, as reported by The Financial Post: Grain shipments stalled in credit drought (“There’s all kinds of stuff stacked up on docks right now…”)
o o o
Bill N. sent us the link to this “must see” video from a DEFCON hackers’ convention: No Tech Hacking
o o o
James B. sent us this “signs of the times” news story: National Debt Clock runs out of digits. Speaking of digits, several times in the last six months, I’ve mentioned the Federal Reserve cartels’ web page where they post updates on aggregate bank borrowings. Last summer, IIRC, I called the “Nonborrowed” column numbers “alarming”. The latest figures are absolutely horrendous. (A hat tip to Tanker, for reminding me to check the Fed’s latest tally.)
o o o
More economic gloom und doom from Cheryl: US government may take part ownership in banks — Global auto market may “collapse” in 2009: J.D. Power — Financial Crisis: Who is going to bail out the euro? — Time Is Up Congress — And America (A sober prediction) Here are a couple of key quotes: “There is chatter circulating, apparently, that “global equity markets will be closed after the emergency G7 meeting this weekend.” and ” …the Indonesian market was just closed again this evening, after literally imploding – down by more than 10% – within an hour of starting to trade.” – Bernanke, Paulson Seek Global Help – Crisis Swamps US — LIBOR Holds Central Banks Hostage As Credit Freezes — Fear Tops Greed – Market Woes Paralyze Economies — Latin American Countries Tap Reserves To Save Currency — Coming Next: Inflation — Paulson Warns More Banks, Businesses Will Fail — Brit Banks Rated Less Solid Than Botswana’s — Staring Into The Abyss (UK Economy) — Third Iceland Bank Fails — Home Safe Sales Soar, Trust in Banks Collapses (UK) — China Lashes Out At US Monetary Policy — MetLife Tanks 26%, BofA Falls After Offering Priced — Dow Plunges 678, Below 9,000 — GM Shares Hit Lowest Level Since 1950 — Press Release: Joint Statement By Central Banks — A Dozen Companies Which Should Layoff 10,000 Each This Year — Dow falls below 9,000 as stocks extend declines
o o o
The latest from Nanny State Britannia: Gardener Ordered to Remove Barbed Wire Fence on Grounds It Could ‘Wound Thieves’. In my opinion England is a lost cause. It is time for prepared families there to Take the Gap!