More gloomage from Cheryl, our Economic Editor: Germans Freeze £21 Billion in Property Fund (“Nearly €30bn of German property funds were frozen between Tuesday and Friday last week in what industry experts fear could foreshadow a UK commercial real estate collapse.”) — The Federal Reserve is Inflating at 341% Per Annum — Cash Was King, Now Gold Is God — Fed Interest Rate Cut May End Up Making Matters Worse (“The Federal Open Market Committee’s half-point cut in its Federal Funds target does not address the leverage and credit issues in the banking system.”) — Gold, Faith And Credit (The Mogambo Guru) — Peter Schiff on Glenn Beck: Global Economic Crisis In Perspective
o o o
Reader Jordan S. mentioned Wikipedia as a potential survival reference. He noted since the Internet won’t be available in a Grid Down situation, it is best to download a snapshot of the current Wikipedia articles, in HTML format sans pictures). Jordan notes: “You’ll get the current version of every article. It’s large – around 14 Gigabytes, but you can store it on DVD or an external hard drive.”
o o o
“Luddite Jean” in England sent us these economic and news headlines: Interest rates may be cut by 1% and pundits start to recognise that their predictions were too optimistic — Government ‘spend our way out of recession’ — Faulty army-issue gun that is ‘too expensive’ to fix
o o o
Author Michael Panzner has some follow-up commentary on the scope and implications of the next Depression: Repeat the Past (and then Some)?