Steve H. recommended this article: Era of paper assets may be winding down
Reader S.K.F. recommended: While the Greece Fire Spreads, a Trade War Begins
A.C.L. mentioned some frightening charts published by The Chicago Tribune: A Tsunami of Red Ink. JWR Adds: I can remember back in 1977, writing fervent letters to my congressman, urging him to help keep the National Debt under $1 Trillion. Now the debt is 20 times that! BTW, that congressman who ignored my letters was Fortney “Pete” Stark, (Democrat) of California. He is still is Washington D.C. (a 37- year incumbent!) And Stark is still spending tax dollars at a rate that would make even a drunken sailor blush. (On second thought, I shouldn’t be so insulting to drunken sailors. At least they stop spending, when they run out of cash. Politicians don’t. They just create more, out of thin air!)
Items from The Economatrix:
Unemployment Falls in a Majority of US Cities
Gold Investment Demand Stays Strong, Price Climbs as Markets Dive
Holy Cow! The US Treasury is Taking Donations to Pay Down the Debt
Visa Profit Jumps as Consumer Spending Rebounds
Fiscal Commission Opens to Federal Reserve Chief’s Dire Warning on US Deficit