Tamara over at the Books, Bikes. & Boomsticks blog [1] mentioned Rick Santelli’s “rant of the year” [2], amidst cheers from the Chicago Merc trading pits.
Stock market slump: Major stock market indexes fall to 1997 levels [3]. Hmmm, let’s see, now adjusting for infaltion,…
G.G. sent this: Foreigners Wary of Long-Term U.S. Securities [4]. 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 [5].
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 [6]
Reader “Jericho Jo” set us this: The noose around U.S. banks’ neck: the unknown [7]. 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 [8]
Martin Weiss: Red Alert–Meltdown Imminent! [9]
UK Could Crash Like Iceland [10]
Greenspan: “Recession” Will be Worst Since 1930s [11]
Fears For BofA and Citi Rattles Markets [13]
This Financial Crisis is Now Truly Global [14]
United They Fall: Post-Communist States Pull EU Into Red [15]
US Seeks to Stem Nationalization Fears
April Gold Futures Settle Above $1,000
The More They Do the Worse it Gets [16]
US Debt is Losing its Appeal in China [17]
World Financial System Insolvent
IMF Emergency Fund Doubled to $500 Billion [18]
Economic Crisis “Is as Bad as They Come” [19]
Huge Protest Over Irish Economy [20]
[21] Financial Foxes Guarding the Hen House [22]
Miles of Idled Box Cars Leave Towns Singing the Freight-Train Blues [23]