Harry Schultz warns Bob Chapman’s newsletter readers of a possible upcoming “bank holiday.” [1]
From KAF: A Fake Financial Fix [2]
Glenn M. recommended this article and the accompanying video clip: Thirty Years of Inflation Coming, But “Deflation Scare” Not Over Yet, Cycle Maven Says [3]
Karen H. sent this: Derivatives Get Second Look From U.S. Congress That Didn’t Act [4]. I warned SurvivalBlog readers almost four years ago about the threat posed by derivatives [5].(Please take tee time to re-read that article.) The frightening thing is that we have not yet seen the derivatives bubble fully implode–just one sector..
Also from Karen:
States Turning to Last Resorts in Budget Crisis [6]. “With state revenues in a free fall and the economy choked by the worst recession in 60 years, governors and legislatures are approving program cuts, layoffs and, to a smaller degree, tax increases that were previously unthinkable.”
If you have been waiting, then here is a good dip in silver [7]. (Spot silver was over $16, just a couple of weeks ago.) Buy low!
Items from The Economatrix:
10 Quirky Economic Indicators [8]
Moody’s Warning On California’s Debt Stuns State “California, which is struggling to close a $24.3 billion budget gap, faces the prospect of a “multi-notch” downgrade in its credit rating if the state’s legislature fails to act quickly to produce a budget, Moody’s Investors Service warned on Friday.”
Numerous Cracks Found in States Hiring Freezes [9] Exemptions, exceptions, outright violations…
Discover CEO: Obama’s Credit Card Reforms Will Raise Rates [10]
Top Senators Question Obama’s Plan for The Fed [11]. Geithner takes heat at hearing on financial reform
Democrats to Push Through Banking Overhaul Quickly [12]
Stocks Log First Weekly Loss Since May [13]
US Homes Recovery “Distressingly Slow”