Reader Steven H. wrote to mention: VP Biden puts on his Captain Obvious cape and declares “This is a depression” [1]. Of course, Joe Biden has developed quite a track record for the inability to keep his mouth shut–most notably when he revealed the “secret” nuclear blast bunker beneath the VP’s Residence [2].
Ralph N. suggested this piece over at Volokh about how the FedGov conceals some of its debt: Treasury Inc.: The Shadow National Debt [3]. (It is hidden under a TARP, dontcha know…)
Commentary from analyst Niall Ferguson: The Dollar Is Dying a Slow Death [4].
From the Housing Storm blog: Strategic Foreclosure And The Last Man On The Boat [5]
Also by way of Housing Storm: Subprime Mortgage Myths Debunked [6]
Items from The Economatrix:
Sun Microsystems Slashing Up to 3,000 Jobs [7]
Stocks Fall After Mixed Economic Data, Earnings [8]
Fewer Home-Building Permits Signals Weakness Ahead [9]
US Stock Market Returns to Housing Industry [10]
UK: Business Failures Predicted to Surge in 2010 as Recession Deepens [11]
Recession-Hit Spain Goes Back to Black Economy
[12]