Ray T. sent this: US long-term interest rates hit high. We haven’t seen anything yet! To attract bond buyers in the future, I predict that Banana Republic level rates may be coming.
I found this linked over at TSLRF: Bernanke Freaks Out About Obama’s Spending and Debt Plans. Don’t miss the accompanying Tech Ticker video commentary on the risk of debt monetization leading to hyperinflation.
Items from The Economatrix:
GOP Rep. Kirk Warns: China Is Investing Away From Dollar…Buying Gold And Oil
Fed Lost $5.3 Billion on AIG, Bear Stearns in 1Q
No More Federal Money Planned for GM, Chrysler
Is the US Economy Heading for a “Jobless Recovery”?
Gary North: Regional Central Bankers Blow The Whistle On The Fed
Weiss: US Debt Crisis as Treasury Bond Prices Collapsing and Interest Rates Surging
Senators Want Homebuyers Tax Credit Raised to $15,000
Dropping income cap, 3-year limit, etc. [Wasn’t “loose money” what created the housing mess in the first place?]
California Nears “Meltdown” as May Revenues Tumble
New Jobless Claims Drop to 601,000; Retail Sales Rise
“Still, the number of people claiming benefits for more than a week rose by 59,000 to more than 6.8 million, the highest on records dating to 1967.”
Failed Banks Dot Georgia’s Vistas “The state is home to just 4% of all U.S. banks, but 20% of the nation’s bank failures since August.”
American’s Net Worth Shrinks $1.33 Trillion in 1Q
Car Loans Are Tough to Get, Even with Good Credit “Dealers say loans have dried up, even for buyers with good credit.”
Oil Price Leaps to Year’s High
Economic Hell (The Mogambo Guru)