John E. flagged this bit of statist arrogance: US Treasury Secretary Tim Geitner – “Taxes on ‘Small Business’ Must Rise So Government Doesn’t Shrink”
John R. kindly sent us a whole raft of economic news items and some excellent commentary:
Derivatives Cloud the Possible Fallout From a Greek Default
Inevitable Catastrophe: The Fruits of Moral Hazard on a Global Scale (Charles Hugh Smith)
Chance Didn’t Create the Current Economic Crisis (Bob Chapman)
Mike Whitney: QE 3? — The Perils of Inflation Targeting
Feigning Cluelessness, Helicopter Ben Fools No One (Rick Ackerman)
Items from The Economatrix:
Russia, China Sign Deal to Switch to Trade in Rubles, Yuan
Peter Schiff: US Set to Default; Silver Headed to $200
Fed Admits US Economy Struggling
Nevermind Greece, Look at Britain’s Deficit