Economics and Investing:

Tamara over at the Books, Bikes. & Boomsticks blog mentioned Rick Santelli’s “rant of the year”, amidst cheers from the Chicago Merc trading pits.

Stock market slump: Major stock market indexes fall to 1997 levels. Hmmm, let’s see, now adjusting for infaltion,…

G.G. sent this: Foreigners Wary of Long-Term U.S. Securities. JWR’s comment: How long will it be before foreign investors start demanding higher rates of return.? Stagflation is coming, folks!

I spotted this Wall Street Journal article linked at The Drudge Report: ‘Nationalize’ the Banks, Dr. Doom says a takeover and resale is the market-friendly solution.

Several readers sent this article from The Guardian: Britain faces summer of rage – police, Middle-class anger at economic crisis could erupt into violence on streets

Reader “Jericho Jo” set us this: The noose around U.S. banks’ neck: the unknown. A quote: “Even prominent members of Congress, including Senate banking committee chairman Chris Dodd, acknowledge a seizure of one or more banks may eventually be necessary. The industry, already fighting for its survival, is now also fighting for its independence.”

Items from The Economatrix:

Soros Sees No Bottom in World Financial Collapse

Martin Weiss: Red Alert–Meltdown Imminent!

UK Could Crash Like Iceland

Greenspan: “Recession” Will be Worst Since 1930s

The Future of U.S. Banks

Fears For BofA and Citi Rattles Markets

This Financial Crisis is Now Truly Global

United They Fall: Post-Communist States Pull EU Into Red

US Seeks to Stem Nationalization Fears

April Gold Futures Settle Above $1,000

The More They Do the Worse it Gets

US Debt is Losing its Appeal in China

World Financial System Insolvent

IMF Emergency Fund Doubled to $500 Billion

Economic Crisis “Is as Bad as They Come”

Huge Protest Over Irish Economy

Financial Foxes Guarding the Hen House

Miles of Idled Box Cars Leave Towns Singing the Freight-Train Blues