Justin sent us a link to an excellent documentary on the chain of events in the global credit collapse, with a bit of pro-interventionist coloring from PBS: Inside the Meltdown.
Heather sent us this: Volcker: Crisis May be Even Worse than Depression
Jim Willie nails it: Russia’s Post U.S. New World Order Blueprint ( A hat tip to KT for the link.)
Luddite Jean in England sent us three bits of news of ill-portent: £2trillion – the terrifying total of our national debt… that’s £33,000 for every man, woman and child in Britain. —
Car industry in meltdown as plant faces ‘imminent’ closure with loss of 100,000 jobs and production plunges by 58%. — Repossessions soar by 54% in a year as 40,000 people lose their homes.
Items from The Economatrix:
Gold Demand Surges by 1/3 to $100 Billion
Record 881 US Auto Dealers Closed in 2008
Wall Street Slumps as Dow Hovers Around Three-Month Low
UK Public Finances Deteriorate Dramatically
Giants Swiss Re and BNP Paribas Report Severe Losses
Ukraine Crumble Triggers Fear Through Europe
Foreign Firms, Investors Flee Ireland
Bank of Japan to Buy 1,000 Billion Yen of Corporate Bonds
Dow Ends Thursday at Lowest Close in More than Six Years
Sarkozy Announces $6 Billion in Aid to Avert Unrest
Rising Debt May Overwhelm Obama’s Bailout
US Bank CEO: TARP Program is Lousy
GM, Chrysler Seek $21 Billion More
Newly Poor Swell Food Banks Nationwide
Bank Fears Hit Wall Street; Dow Down 6.2% for the Week, S&P off 6.9%