Economics and Investing:

Jasper M. sent word of the never-ending, ever-expanding Mother of All Bailouts (MOAB): Krugman: U.S. Headed for Jobless Recovery. “Nobel-Prize winning economist Paul Krugman said the nation is on course for a “prolonged jobless” economic recovery unless the Obama administration steps in with a second round of government stimulus money.”

Redaer Karen H. kindly sent the following items:

Weak US jobs data dashes quick recovery hopes

G8 alone can’t solve world’s problems. (This changes the players)

China wants diversified global monetary system

Items from The Economatrix:

Credit Report Warns of Russia’s Imploding Banks

A Bank Run Teaches Amish About Risks of Modernity

Chase Cardholders See Hike as Raw Deal Monthly minimum payments will more than double in August

Hotel Loan Defaults Double as Recession Cuts Travel

India Joins Russia, China in Questioning Dominance of US Dollar

Asian Stocks Post Weekly Loss on Worsening Jobless Figures, Commodities

Japan Backs Dollar as Reserve Currency

IOU’s Spell Uncertainty for California Small Businesses

Will California’s Budget Crisis Whack Your Munis?

Many July 4th Shows Going Up in Smoke For cities across the country, recession means less bang for holiday buck

US Job Losses in June Deeper than Forecast
Declines in wages could unravel the recent stabilization we’ve seen

Pet-Supply Retailers Grow While Others Fade Shoppers refuse to be cheap with their animal companions even when their wallets are thin. [JWR Adds: But veterinarians report that the euthanizing versus surgery rate is up substantially.]