Reader Donald M. sent this: The Fed Won’t Be Able to Combat Inflation by Raising Fed Funds Rate [1]
In the latest Daily Bell: US Panel Blames Banks for ’08 Meltdown, but not Central Banks [2]
John Browne: The Great Debt Shift [3]. Here is a quote: “Two of the world’s largest economies, the EU ($16 trillion) and the US ($14 trillion), have become the leading practitioners of private-to-public debt shifting. The US has assumed the debts of banks, insurers, mortgage holders, and even entire industrial sectors. The European Union has done the same for entire states. The resulting public debt levels are, predictably, placing strains on both the dollar and the euro. Worse still, the bailouts have created a spirit of apathy toward debt accumulation. Western governments have embarked on a debt binge for the ages. Already, the credit ratings of the United States and some of the EU’s core countries, such as France and the UK, are being questioned. While this socialization of private debt has created deep citizen resentment, it remains to be seen whether political pressure is enough to hold back the tide…”
Greece Default with Ireland to Break Euro by 2016 in Global Investor Poll [4]
Fed to Pursue QE Even as Business Lending Gains [5]
Items from The Economatrix:
Unemployment Rises in 20 States, Falls in 15 [6]
Only 47% of Working-Age Americans Have Full Time Jobs [7]