Tsunami of Home Foreclosures to hit U.S. [1] (A tip of the hat to Heather for the link.)
Court Orders Federal Reserve to Disclose Emergency Loan Details [2] (It’s about time!)
DD sent us a link to this Newsweek article: Slums of Suburbia Sorting through the rubble of California’s foreclosure tsunami. [3] JWR’s comment: They were Living Large for a while, on NINJA [4] loans, now they are Living Lard, in Manteca.
Also from DD: White House, Congress project record deficits; Both see the overall national debt nearly doubling over the next decade [5]
From Chris: Senator warns of hyperinflation rivaling the 1980s [6]
Greg C. mentioned the following articles: Rhode Island governor to shut down state government for 12 days [7]
Labor Leader Named Head of New York Fed [8] [JWR notes: Somehow, this doesn’t give me a warm. fuzzy feeling, since I don’t trust union bosses any more than I do banksters.]
Items from The Economatrix:
Oil Falls 4% After Hitting 10-Month Peak of $75 [9]
Latest in Stimulus: Cash for Refrigerators [10]
Brookings “Experts” Admit Stimulus a Bust [11]
CBO Warns of Higher Unemployment; DC Worries About the Deficit [13]
Preparing for the Worst [14]. “Every time I hear a politician mention the word stimulus, my mind flashes back to high school biology class, when I touched battery wires to a dead frog to make it twitch. Today, you and I are the dead frogs. Pretty soon the dead frog will be fried frog.”
Basket Cases [15] (The Mogambo Guru)