Signs of the (Los Angeles) Times: Adult children moving back home with parents [1]. (A hat tip to Erik for the link.)
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Jim H. sent us a link to an interesting Business Spectator (of Australia) article about CDS-based CDO paper (so-called “synthetic CDOs”): A tsunami of hope or terror? [2]
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The latest economic news and commentary from Cheryl: Stocks Plunge Anew, Led by Financials; Dow Down 873 in Two Days [3] — Stocks Plunge To 5-Year Lows As Hopes Fade For Auto Bailout [4] — Fears Over US Economy Weaken World Markets [5] — Panicked Investors Send Gold Demand Up 56% [6] — Markets Wary of Irish Debt as Fresh Rescue Looms [7] — Six Japanese Banks Announce Heavy Profit Fall [8] — CitiGroup’s Downward Spiral Continues, Shares Fall 12% [9] — Fed Says Economy to Get Worse [10] — China Plans to Buy GM and Chrysler [11] — Worldwide Rout Hits Asian Markets [12] — World Freight Prices Collapse Amid Financial Crisis [13] — Phase IV of The Global System Crisis: Breakdown of the Global Money System by Summer 2009 [14] — CitiGroup Liquidates Hedge Fund that Fell 53% in One Month [15] — Farmers in US Face Up to Credit Squeeze [16] — When Inflation Comes A-Knockin’ [17] (The Mogambo Guru) — Bush Hands Over Reigns of US Economy to EU [18]
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Frequent contributor (and fellow novelist) Michael Z. Williamson [19] sent us this link that proves that there is a sucker born every minute: MetalMint.com [20]. Mike’s comment: “[People are paying] $11 per pound for $1.63 worth of copper. And the concept of ‘Fine brass’ bullion is just amusing.” JWR Adds: Perhaps the buyers are the same people that buy those absurdly overpriced”commemorative” coins [21].