Economics and Investing:

Unemployment in California at 12%, Highest in Nearly 70 Years

GG flagged this: UK Public debt hits £800 billion – the highest on record

Tom B. sent this item: Charts predict: “Risk of Full- Fledged Dollar Crisis”

Items from The Economatrix:

Obama: G-20 Good Time to Assess Economy

Low Expectations for New Loan Help Program

Regulators Seize Two Banks; 94 Failures This Year

Irwin Financial’s Two Bank Units Seized

Ohio Town Struggles After Package Giant DHL Leaves

Meredith Whitney: “Roaring Recover”? Unlikely

Fed Eyes Sweeping Bank-Pay Regulations

Summers: Troubled Firms Should be Allowed to Fail

Obama Adviser Blasts Big Business Ads. Larry Summers, top Obama economist, blasts ad campaign opposing proposal to create agency to protect financial consumers.

Chapman: The Looming Global Debt Crisis

Is the Fed’s Money Pumping Inflationary?

Deflation, Falling Velocity of Money Ensures Printing Presses Will Keep Running

Missing Lehman Lesson of Shakeout Means “Too Big to Fail” Banks May Fail