Economics and Investing:

The Worst Retail Cataclysm Ever: Sears Warns It Is On The Verge Of Collapse As Payless Prepares To File For Bankruptcy – RBS

HJL’s Comment: This is not the first time the Sears has been in trouble, but by all accounts, this may be the worst. With Sears being an anchor store in many malls across the U.S. This doesn’t bode well.

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Americans Are Dying With an Average of $62K of Debt – B.B.

HJL’s Comment: While most debt gets paid off with the deceased’s estate, what happens when the only estate is a residence that others, who do not own part of the debt, are still living in? What about family members? While the debt usually cannot be passed on to other family members, that doesn’t mean the creditors won’t go after shared assets.

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OPEC In Trouble As Saudis Becoming Weary Of “Free Riders”. Saudi Arabia, OPEC’s de facto leader, has reduced its crude production by the largest margin, carrying the weight of the cartel while striving to bring prices back up.

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Fellow blogger Claire Wolfe suggested this article: Red-light camera grace period goes from 0.1 to 0.3 seconds, Chicago to lose $17 Million.

JWR’s Comment: If adding 2 tenths of a second equates to a $17 million loss, it begs the question: How many millions of dollars do cities like Chicago rake in each year from red light cameras, speed zone cameras, and toll lane cameras? Methinks we are living in an advanced Kleptocratic civilization.

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