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Economics and Investing:

The Old Yooper mentioned this FSU piece: Signposts Towards the Inevitable [1]. The graph showing the upcoming second wave of ARM [2] is particularly alarming. There will be some real ARM-twisting then!

Thanks to G.G. for this piece: Irish government faces growing fears of debt default [3]

Steve S. recommended a video of a lecture on the history and nature of debt-based modern currencies, and their implications on freedom [4].

DS spotted this: As U.S. Borrowings Rise, Treasurys Begin to Pop [5]. As I’ve mentioned before, look for a big jump in Treasury yields as a key indicator that stagflation is ahead.

Items from The Economatrix:

America Has to Come to Grips that it is Bankrupt [6]

Rich Chinese Buying Bargain US Homes [7]

Roubini Tells Geithner to Nationalize US Banks [8]

Pound Falls Further [9]

UK Unemployment to Hit 3 Million

China is Right to Have Doubts About Who Will Buy American Debt [10]

IMF Chief Warns Second Wave of Countries Will Need Bailout [11]

Ireland Could Default on Debt [12]

UN Lobbies for Share of Bank Bailout Funds [13]

$60 Billion Loss at RBS Prompts Savage Job Cuts [14]

Spain’s New Jobless Crowd Soup Kitchens [15]

Failure to Save Eastern Europe Will Lead to Worldwide Meltdown [16]

Cash Crisis Forces California to Free 55,000 Prisoners [17]

How the Crash Will Reshape America [18]

Severe Retail Downturn Forecast for 2009 [19]