Norman in England mentioned one consequence of the global credit collapse, as reported by The Financial Post: Grain shipments stalled in credit drought [1] (“There’s all kinds of stuff stacked up on docks right now…”)
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Bill N. sent us the link to this “must see” video from a DEFCON hackers’ convention: No Tech Hacking [2]
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James B. sent us this “signs of the times” news story: National Debt Clock runs out of digits [3]. 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 [4]. 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.)
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More economic gloom und doom from Cheryl: US government may take part ownership in banks [5] — Global auto market may “collapse” in 2009: J.D. Power [6] — Financial Crisis: Who is going to bail out the euro? [7] — Time Is Up Congress — And America (A sober prediction) [8] 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 [9] — LIBOR Holds Central Banks Hostage As Credit Freezes [10] — Fear Tops Greed – Market Woes Paralyze Economies [11] — Latin American Countries Tap Reserves To Save Currency [12] — Coming Next: Inflation [13] — Paulson Warns More Banks, Businesses Will Fail [14] — Brit Banks Rated Less Solid Than Botswana’s [15] — Staring Into The Abyss (UK Economy) [16] — Third Iceland Bank Fails [17] — Home Safe Sales Soar, Trust in Banks Collapses (UK) [18] — China Lashes Out At US Monetary Policy [19] — MetLife Tanks 26%, BofA Falls After Offering Priced [20] — Dow Plunges 678, Below 9,000 [21] — GM Shares Hit Lowest Level Since 1950 [22] — Press Release: Joint Statement By Central Banks [23] — A Dozen Companies Which Should Layoff 10,000 Each This Year [24] — Dow falls below 9,000 as stocks extend declines [25]
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The latest from Nanny State Britannia: Gardener Ordered to Remove Barbed Wire Fence on Grounds It Could ‘Wound Thieves’ [26]. In my opinion England is a lost cause. It is time for prepared families there to Take the Gap!