Economics and Investing:

“Red Hen” sent this bit of global MOAB expansion news: IMF Governors Formally Approve US$250 Billion General SDR Allocation

Courtesy of Steve G.: Credit tightening threatens China’s ‘giant Ponzi scheme’

The Treacherous Path for Housing – 42 Percent of California Mortgages with Negative Equity: $1 Trillion in Mortgages Submerged Underwater in California. $3 Trillion in U.S. Mortgages Underwater and Risking Foreclosure.

From DD: Lowe’s Profit Plunges as Consumers Stay Away

JS spotted this: The “Zimdollar:” Dead, but still used for bus fare. (It sounds like something out a of a novel: $3,000,000,000,000 for one bus fare, and goats for barter!)

Items from The Economatrix:

Wholesale Prices Drop More than Expected in July

Coming Soon: Banking Crisis of Historic Proportions

Reader’s Digest Going Bankrupt

Fed Shut Down “Minority” S&L

New AIG CEO Pay $7 Million, Will be Reviewed, Obama Spokesman Says

Treasury Prices Post Modest Decline