Sluggish growth in france leading to big trouble. (Thanks to DD for the link.)
Larry T. sent this: Why Default on U.S. Treasuries is Likely, by Jeffrey Rogers Hummel. “Buried within the October 3, 2008 bailout bill was a provision permitting the Fed to pay interest on bank reserves. Within days, the Fed implemented this new power, essentially converting bank reserves into more government debt. Now, any seigniorage that government gains from creating bank reserves will completely vanish or be greatly reduced.”
Items from The Economatrix:
Five Weeks on the Brink: Reliving the ’08 Meltdown
Brown to G-20: Economy at Critical Juncture
Recession Hits Nest Eggs; US Promotes Ways to Save
List of US Banks Closed by Feds Jumps to 89 (MO, IL, IA, & AZ)
Moody’s Ruling is “Landmark Decision” Einhorn Says
US Recovery Leaving Workers Jobless May Spur Company Profits Recovery indicators not boosting paychecks; 9.1 million stuck in part-time jobs
New Jobless Claims Dip Less than Expected Data indicates job market’s recovery long, bumpy