From frequent content contributor GG: China holds sway over US Dollar “The U. S. should be afraid, very afraid. China is questioning the dollar’s status as a reserve currency and, at US $1,000 an ounce, gold has become the world’s de facto currency.” – John Ing, Maison Placements in Canada
Mike S. suggested a piece titled “Obsessive Housing Disorder” on Michelle Malkin’s blog, that describes the history of our dysfunctional housing market.
HPD sent us a link to a piece by economic commentator Mish Shedlock: If You’re Not Petrified of Obama, You’re Not Paying Attention
Items from The Economatrix:
AP Economic Stress Index: Measuring Financial Strain By County
US Backing for World Currency Stuns Markets
House Price Drops Leave More Underwater
Stocks Jump on House, Bank Optimism
Asia will author its own destruction if it triggers a crisis over US bonds
Investors: Bull Market Has No Legs
From Marc Faber: Lookout! Capitalism Dead. US Going Bankrupt. There Is Going To Be War
Long and Short of Bond Insanity (The Mogambo Guru)