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. [1]
Heather sent us this: Volcker: Crisis May be Even Worse than Depression [2]
Jim Willie nails it: Russia’s Post U.S. New World Order Blueprint [3] ( 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 [4]. —
Car industry in meltdown as plant faces ‘imminent’ closure with loss of 100,000 jobs and production plunges by 58% [5]. — Repossessions soar by 54% in a year as 40,000 people lose their homes [6].
Items from The Economatrix:
Gold Demand Surges by 1/3 to $100 Billion [7]
Record 881 US Auto Dealers Closed in 2008 [8]
Wall Street Slumps as Dow Hovers Around Three-Month Low [9]
UK Public Finances Deteriorate Dramatically [10]
Giants Swiss Re and BNP Paribas Report Severe Losses [11]
Ukraine Crumble Triggers Fear Through Europe [12]
Foreign Firms, Investors Flee Ireland [13]
Bank of Japan to Buy 1,000 Billion Yen of Corporate Bonds [14]
Dow Ends Thursday at Lowest Close in More than Six Years [15]
Sarkozy Announces $6 Billion in Aid to Avert Unrest [16]
Rising Debt May Overwhelm Obama’s Bailout [17]
US Bank CEO: TARP Program is Lousy [18]
GM, Chrysler Seek $21 Billion More [19]
Newly Poor Swell Food Banks Nationwide [20]
GM Shares Hit 74-Year Low [21]
Bank Fears Hit Wall Street; Dow Down 6.2% for the Week, S&P off 6.9% [22]