U.S. dollar ‘seriously overvalued’ [1]
From SurvivalBlog reader GG: The next great crisis: America’s debt. [2] At this rate, your share of the load will be $155,000 in a decade. How chronic deficits are putting the country on a path to fiscal collapse.
Another from GG (also sent by KAF): Get Ready for Inflation and Higher Interest Rates [3]. The unprecedented expansion of the money supply could make the ’70s look benign
Fam sent us this: Treasury Secretary’s Secret Talking Points Reveal That Banks Were Forced to Surrender Ownership Stakes to Government [4]
From DD: Foreclosures hit the upscale market [5]
Items from The Economatrix:
Treasuries Tumble After Auction; Russian Threat to Cut Holdings [6] “‘There are an awful lot of Treasuries being auctioned and there’s going to be more and more and more and more,’ said Jay Mueller, who manages about $3 billion of bonds at Wells Fargo Capital Management in Milwaukee.”
Stocks Falls After Weak Auction of 10-Year Notes [7]
Fed Unveils Some Details on $1 Trillion in Lending, But Doesn’t Identify Borrowers [8] (Which leads us to ask: How much money is being sent offshore?)
Survey: Dollar, Government Bonds Set to Decline As Economies “Recover” [9]
High Court Clears Way For Chrysler Sale to Fiat [10] “The United States government has, I continue to believe, acted egregiously by taking away the traditional rights held by secured creditors.”
Congress Subpoenas The Fed Over BoA-Merrill Lynch [11]
Airfares to Fall Further in Recession [12]
Former AT&T CEO (Whitacre) to Become New GM Chairman
More Politics in Auto Plant Closures? [13]
Now Boarding At Gate C14: Capital Flight Airlines [14]
Russia, Brazil to Buy $20 Billion IMF Bonds, Diversify Reserves “Russia’s central bank said it may cut investments in U.S. Treasuries, currently valued at as much as $140 billion, a week after China said it may reduce reliance on the dollar and American bonds. Brazil’s Finance Minister Guido Mantega said his country will purchase $10 billion of debt sold by the IMF, China will buy $50 billion and India may announce similar funding.”
You Just Have To Laugh [15] (The Mogambo Guru)
Bullion and Bandits: The Improbable Rise and Fall of e-Gold
Parental Lifelines Frayed to Breaking
20-somethings having to move back in with parents