Reader HPD: suggested this piece by Mish Shedlock: Nationwide Tax Revolt is Coming
Dave (at Captain Dave’s) mentioned an interesting article on Why our current credit crisis mirrors Weimar, over at the Seeking Alpha site.
G.G. sent us this: Bernanke sees signs of economic stability “I can assure you that monetary policy-makers are fully committed to acting as needed to withdraw on a timely basis the extraordinary support now being provided to the economy, and we are confidence in our ability to do so,” Bernanke said in remarks prepared for delivery at Morehouse College in Atlanta.” G.G.’s comment: “Of course, remember this is also the guy who said that the $700 billion bailout in September, 2008 was all that was going to be needed to stabilize everything. How well did that work out?” JWR’s comment: Once mass inflation begins, it will become self-perpetuating. Bernanke is delusional if he thinks that he can stop it quickly. The expectation of continuing inflation can be a very powerful force in the marketplace.
Items from The Economatrix:
AIG in Spotlight Over Derivatives “The unit that all but destroyed AIG has failed to sign up for the overhaul of the global derivatives market.”
Obama Tempers Optimism with Reality on Economy
Surge in Delinquent Taxpayers
Martin Weiss: Major Announcement [JWR Adds: I recommend Marty’s book: The Ultimate Depression Survival Guide
Oil Drops Below $50 as Forecast Cut
Credit Suisse to Close US Customers Accounts
Celente Calls for “Revolution” as the Only Solution
Moody’s Downgrades the Entire Country “Every municipal debt issuer is now suspect and shaky.”
Wall Street Stars Beginning to Scatter
Older Borrowers, Out in the Cold
Super Hyperinflation Coming Soon
San Diego Tea Party Monitored by Government