Greg C. sent this bit of mainstream media spin doctoring: AP source: White House projects lower deficit. Greg’s comment: “Another case of “The deficit is growing slower than we originally thought.” They fail to point out its still growing exponentially. They “saved”$250 billion while we will be at $2 trillion in the hole by year’s end. I love their math and outlook on life!”
Thanks to Damon for this: Marc Faber “in China there is an investment bubble …the total collapse is ahead of us and probably a world scale war…”
Reader Jim P. flagged this: Obama to raise 10-year deficit to $9 trillion. The MOAB just won’t quit growing!
From A.C.: Stiglitz: Dollar Reserve System Falling Apart
Items from The Economatrix:
Iceland: What Ugly Secrets Await Being Revealed in the Meltdown
The Consumer Has Dug in His Heels
John GaltFla: A Flock of Black Swans