Economics and Investing:

Herb Dennenberg of the Philadelphia Bulletin warns: US Marches Toward a Financial Disaster Worse Than Anyone Thinks. (A tip of the hat to “The Other Jim R.”)

GG flagged a Forbes column by Steve H. Hanke, warning that inflation will roar back with a vengeance: Fed Up

Items from The Economatrix:

Rush to Universities to Escape Recession

GM to Default on $1 Billion Bond Payment

IMF Predicts World Recession Will Deepen

Morgan Stanley Reports Four-Month Losses of $1.47 Billion

Geithner: Worst Trade Bust Since WWII

Soaring US Budget Deficit Will Mean Billions in Bond Sales
“Millions of lost jobs mean billions in lost tax revenue for the U.S. government, and billions in additional Treasury debt to fund a federal budget deficit that may soar to more than four times last year’s record $454.7 billion.”

Cheney: Obama Economic Plan “Dangerous”

Hedge Funds, Unhinged

Quadrangle Facing Questions Over Pension Funds

Florida County Declares State of Economic Emergency Over Economy

Wells Fargo Reports 52% Jump in Earnings