Laura H. suggested this Wall Street Journal piece: From Bubble to Depression?, by Steven Gjerstad and Vernon L. Smith
Kevin A. sent us this: Geithner’s Stress Test “A Complete Sham,” Former Federal Bank Regulator Says
Items from The Economatrix:
Bernanke’s Financial Rescue Plan: The Growing Prospect of a US Default. Here are two keyquotes: “It is impossible to know what the long-term effects of Bernanke’s excessive spending will be, but his plan has the potential to trigger hyperinflation or spark a run on the dollar.”, and: “The recent 22 percent uptick in the stock market is a sign that Bernanke’s monetary stimulus is beginning to kick in. Oil rose from $33 per barrel to over $50 in little more than a month. Other raw materials have followed oil. The dollar has plunged every time the stock market has gone up. These are all signs of nascent inflation which is likely to accelerate after the current period of deleveraging ends. Food and energy prices will rise sharply and the dollar will come under greater and greater pressure. This is Bernanke’s nightmare scenario; a surge in inflation that forces him to raise rates and kill the recovery before it ever begins.”
Poll: Americans More Optimistic on Economy Since Obama’s Inauguration. Huh? What newspapers have they been reading?
Soros: US Recovery is Far Off; US Banks “Basically Insolvent” “The U.S. economy is in for a ‘lasting slowdown’ and could face a Japan-style period of relatively low growth coupled with high inflation….”
So Much Nonsense (The Mogambo Guru)