SurvivalBlog reader sent in this article about Russia’s response to the oil crises and sanctions: Russia retreats to autarky as poverty looms
Items from the Economics Team:
China: Red Capitalism is the New Black Swan (Zero Hedge)
U.S. Pensions Slowing Waking Up to Risk (Reuters)
The Two Income Trap and the Myth of High Wages (My Budget 360)
Puerto Rico: Another Bailout Coming (Zero Hedge)
o o o
Items from Mr. Econocobas:
Peak Prosperity – Has The Market Trend Shifted From Bull To Bear?
Debt Prioritization Bill Comes to a Vote as Borrowing Limit Looms – Every time the “debt limit” debate comes up, I get sick. You must realize that we can’t even discuss things that might slow down the debt accumulation, let alone actually tackle it. The larger issue is, though, that our current monetary system can NOT have a decreasing debt load; it requires a permanent, perpetual acquisition of debt in ever-increasing amounts. Thus, this is why without an overthrow of the current system run by the Federal Reserve, we will every year increase our debt with no exceptions. Any thought outside of that is fantasy world make believe.
U.S. Banking Regulator Raises Red Flag About Auto-Loan Risks