Greg C. sent this bit of mainstream media spin doctoring: AP source: White House projects lower deficit [1]. 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…” [2]
Reader Jim P. flagged this: Obama to raise 10-year deficit to $9 trillion [3]. The MOAB [4] just won’t quit growing!
From A.C.: Stiglitz: Dollar Reserve System Falling Apart [5]
Items from The Economatrix:
Iceland: What Ugly Secrets Await Being Revealed in the Meltdown [6]
The Consumer Has Dug in His Heels [7]
John GaltFla: A Flock of Black Swans [8]