Ray T. sent this: US long-term interest rates hit high [1]. 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 [2]: Bernanke Freaks Out About Obama’s Spending and Debt Plans [3]. 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 [4]
Fed Lost $5.3 Billion on AIG, Bear Stearns in 1Q [5]
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 [6]
Senators Want Homebuyers Tax Credit Raised to $15,000 [7]
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 [8] “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 [9]
Car Loans Are Tough to Get, Even with Good Credit [10] “Dealers say loans have dried up, even for buyers with good credit.”
Oil Price Leaps to Year’s High [11]
Economic Hell [12] (The Mogambo Guru)