James W. recommended: Derivatives, The Gift That Keeps On Taking. [JWR’s Comment: I’ve been warning my readers about derivatives since 2006. That was two years before derivatives CDOs torpedoed the real estate market and triggered a recoveryless recession with bailouts that have doubled the national debt and tripled our money supply. Ironically, the magical smokescreen “solution” to the ongoing recession (actually just a forestalled Depression) has been Quantitative Easing, which creates $85 billion per month out of thin air, mostly by means of buying up Mortgage Backed Securities (MBSes), which are derivatives!]
The Never-Ending Charade Of Debt Ceiling Fights
Items from The Economatrix:
Obama’s ‘Lame-Duck’ Status Could Lead to Wall Street Woes
Gold Rallies on Fed’s Taper Delay; Jim Rogers Forecasts a Drop to $900