Economics and Investing:
B.B. sent this: Illinois Debt Downgraded Again, Worst in Nation Haircuts ahead! Merkel Meets Sarkozy to Draft EU Fiscal Rules as Part of Euro-Rescue Plan. The article includes a quote from IMF Chief Economist Olivier Blanchard: “‘The numbers are not good’ for Greece, Blanchard said on CNBC television. ‘There’ll have to be substantial haircuts.’” [JWR Adds: Along with currency revaluations, be ready for banks runs and currency export controls that may be enacted in many nations. And don’t be surprised if Ben Bernanke comes to the rescue–whether overtly or covertly–with trillions of Dollars from America. This will be money created …