The Army Aviator notes: “Just a head’s up, perhaps a sea change of some sort: Bloomberg[‘s televised financial news on Sunday] started off by saying that several Asian countries had pooled together a fund of $125 Billion to fight FOREX attacks against their currency but it didn’t seem like enough. Then they described Hillary’s visit to [mainland] China in an unusual way. Their comment: ‘We thought she was a presidential candidate but she’s just a bond salesman.'”
From reader HPD comes this BBC news link: Is the US heading for a depression? The US economy is contracting sharply. Is there a danger that it will go from recession to depression?
Peter O. suggested this Reason magazine piece by Damon Root: “Milton Friedman Proud Father of Global Misery” (No, it is not a diatribe against Friedman–it is in his defense.)
Items from The Economatrix:
Fannie Mae Rescue Hindered as Asians Seek Guarantee
Jefferson Co., Alabama, Unable to Make $636 Million Sewer Debt Friday
Treasuries: Prices Fall as Treasury Set to Issue $94 Billion
Shenandoah Update No. 23: All News, All Bad
Examples: Confidence Destroyed
The Hijacking of America. A quote: “There is no longer any means of reversal of the final terminal phase of the downward spiral now solidly set in motion. It is coming whether you or I want it to or not. All you can do is take the positive approach and prepare for it, and profit from the debacle. The time to do so however is rapidly running out.”