There has been a veritable torrent of bad economic news in the past few days. Here is just a sampling…
Ponzi Scheme: The Federal Reserve Bought Approximately 80 Percent Of U.S. Treasury Securities Issued In 2009 [1]. (Thanks to Duane for the link.)
George Gordon (“GG”) sent this: 20 Reasons Global Debt Time Bomb Explodes Soon [2]
Also from GG: Sprott: Gold to gain 30% in 2010, higher interest rates to hurt US economy [3]
and another from GG: Fears of ‘Lehman-style’ tsunami as crisis hits Spain and Portugal [4]
Chad S. forwarded this: North Korea’s economic moves bring new misery [5]
John G. liked this piece over at Zero Hedge: The Next Leg Of The Housing Crisis In Five Simple Charts [6]
Items from The Economatrix:
Stocks Sink in on Economy Jitters; Dow Below 9,900 [7]
Companies Boost Productivity and Put Off Hiring [8]
Bond Yields Tumble on Latest European Debt Worries [9]