Reader Ben M. mentioned: World Bank sees even worse slump. All the recent talk of a “nascent recovery” is balderdash.
China’s Commodity Buying Spree. Well, gosh , if given the choice between dollar-denominated paper assets and buying useful tangibles, which would you choose?
Jim B. sent us a link to an essay titled The Coming Economic Collapse, by Graham Summers. “To give you an idea of how big a problem these deficits are, consider that the US government could tax its citizens 100% of their earnings and not have a balanced budget.”
From the Dr. Housing Bubble blog: Foreclosure Reality Check: 1.6 Million Foreclosure Filings with 5 Months of Data. California Notice of Defaults and Foreclosures Skyrocketing
Items from The Economatrix:
Protect Yourself From A Treasury Market Collapse “Fund doesn’t have to have “Treasury” in its name to be vulnerable
Green Bay Lays Down Gauntlet For Obama “We’re fed up with all this spending that is totally unnecessary,” said Dennis Feldt of Green Bay. “Obama is assigning all these stimulus packages and demanding a vote on it a day later. No one has time to read any of this. The lawmakers don’t even know what’s in it. It’s all because the president says we need it right now or we’re going to lose jobs. Where is all this money going?…It’s all gone. It makes us all very nervous.”