Portfolio.com reports that “unlimited dollar funding” has now been promised by the G-7 to re-liquify the credit markets on both side of the Atlantic: Flood the Zone. Just as I warned, the MOAB knows no boundaries. The destruction of the dollar via mass inflation now seems inevitable. Get out of your dollar-denominated investments immediately. Shelter your assets in practical tangibles, ASAP! Now, on to more economic news and commentary, courtesy of our stalwart Economic Editor: Manic Monday: Dow Roars Back After Worst Week Ever — Morgan Stanley Gets $9 Billion Lifeline — Sovereign Bancorp In Talks With Spain’s Banco Santander — FRB Press Release: ‘Unlimited Funding’ Measures — Treasury To Invest In Healthy Banks — The Crushing Potential Of Financial Derivatives — Icelandic Shoppers Empty Supermarkets — IMF Warns Markets Could Drop Another 20% — Two Million Britons On The Dole By Christmas — Most US States, Cities Virtually Bankrupt — Two More Banks Closed By Regulators — US Gasoline Price Marks Biggest Drop Ever
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Brandy in Southern California sent us this: Thieves snag catalytic converters in Murrieta parking lots. Brandy’s comment: “This article illustrates that when things get bad, you’ll even have to be careful about where you park your car.”
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Tomorrow is the last day in Safecastle’s 25%-off Mountain House sale. Their freeze dried canned foods have a 30 year shelf life. Get your order in right away!
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Mark in Washington reports seeing some very brisk sales at the recent Puyallup gun show (near Seattle). “Mark’s comment: “The ammunition guys were barely able to sit down at all. One gun dealer said he sold 26 on Saturday alone. A very large number of people that I spoke to this weekend were talking about how important is it be better prepared. If I had to put a word to the overall mood of the buyer was fear. I personally heard a number of people talking about the upcoming election and the current economic crisis as reasons for getting out to the show and buying.”