Readers “Bigbird” and Trapper Mike both sent this: Brazil and China eye plan to axe dollar [1]
John Hussman warns: Inflation Ahead! The Destructive Implications of the Bailout – Understanding Equilibrium [2] (Thanks to GG for the link)
Frequent content contributor GG sent us this: Tax Revenues Tanking [3]. Yikes! Look at the tax receipts for April of ’08 versus April of ’09. I suspect that the panic reaction in Congress will be raise the marginal tax rates.
Thanks to DS for sending this: Stocks waver after surprise drop in housing data [4] (This leads me to ask: Why are journalists so surprised that the housing numbers are continuing to decline?)
Items from The Economatrix:
GM Bankruptcy Seen as All But Inevitable [5]
Notes from Another Credit Card Crisis [6]
Economy Limiting Services of Local Police [7]
Obamarket Update #80: Jussssttt a Bit Outside [8]
New Rules: Work ’til You Die [9]
Condo Associations Dying as Fees Dry Up [10]
Chrysler Expands Buyouts, Early Retirement Packages [11]
Geithner: Economy Expanding But Jobs at Risk [12]
US Workers Paying More For Healthcare [13]
Hotel Crime Rises In Recession, But Hotels Say They Are Still Safe [14] “The current downtrend is associated with significant cuts in security.”
Stocks Waver After Surprise Drop in Housing Data [15]
Housing Construction, Permits Hit Record Lows [16]
Oil Prices Bounce Above $60 in New York [17]
American Express to Cut 4,000 Jobs [18]
Jobless Horrors [19] (The Mogambo Guru)