Wall Street’s Grand Old Man, Richard Russell declares: The Only Way Out Is to Devalue. (Thanks to G.G. for the link.)
Reader H.L. sent word of some ill-advised State Level Cap and Trade. H.L. call it “…the final nail in the coffin of the once Golden State.”
G.G. suggested this piece at Tyler Durden’s oft-quoted Zero Hedge blog: Do the Swiss Know Something the Rest of Us Don’t?
Also from G.G.: Greece ‘to run out of money’
Items from The Economatrix:
California Cities In Fiscal Trouble “Conga Line”
Warnings That A Massive Stock Market Crash Is Imminent
IMF Chief Economist Says World Economic Crisis To Last At Least 10 Years