David V. sent us the link to some commentary by Bob Chapman on the derivatives threat: The Quadrillion Dollar Powder Keg Waiting To Blow [1]. David also sent us the link to this piece by Porter Stansberry: How AIG’s Collapse Began a Global Run on the Banks [2]
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Several folks sent us this “must read” piece by Bill Bonner: The Next Crisis Will Be Over Food [3]. It begins: “The United States is now a net importer of food, we read recently. If we understand that correctly, there is no longer enough food Made in the USA to feed Americans’ appetites”
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More Friday Evening Follies: Meridian Bank [4] and Main Street Bank [5] both bite the dust. (The FDIC makes a habit of announcing bank failures on Fridays, just after business hours.)
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There are just two days left in Safecastle’s 25%-off Mountain House sale [6]. This sale price probably won’t be repeated for a year, so get your order in soon!
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Some news from England, courtesy of Jack B.: Credit crunch-hit Brits turn to bartering [7]. Also, this grim news: Bodies of the dead not being buried in echo of Winter of Discontent as effects of credit crunch spread across Britain [8]