Top hedge fund manager: Decade of doom ahead. “Ray Dalio, founder of the largest hedge fund in the world (Bridgewater Associates), said the world debt is so large it will take 10 years to de-leverage it — and “there are no more tools in the tool kit” to postpone the inevitable reckoning.” JWR’s Comment: I think two decades might be more accurate.
Ben S. sent this: Purdue expert: Cost to grow crops to surge in 2012
Fed’s Yellen: QE3 May Be Warranted. JWR’s Comment: Of course they’ll do it. Free money is more addictive than crack cocaine.
Over at Fierce Finance: Speculation: Bank of America headed to bankruptcy court
Europe Goes Full Bailout Retard: EFSF Rescue Capital To Be Officially Double-Counted. (Thanks to John R. for the link.)
US Treasury considers new debt security.
Chris Martenson: The Real Contagion Risk. It is coming to America’s houses of finance.
SurvivalBlog reader “FarmerGreen” reports: “I followed the advice here and stocked up on peanut butter–one of my favorite foods. When I bought Saturday the 2 lb. jar of store brand was $5.79. Today it’s $7.79. Up almost 35% in two days! Thanks for the heads up.”