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Economics and Investing:

D.S. suggested this Gerald Celente audio clip “When this Bubble blows – it’s over” [1]

Also from GG: U.S. Inflation to Approach Zimbabwe Level, Faber Says [2]

Yet another from GG: Roubini says U.S. economy may dip again next year [3]

Items from The Economatrix:

About 12 percent of U.S. homeowners late paying or foreclosed [4]

Signs of More Trouble For Housing [5] “Wall Street is so hungry for good news that stocks rallied at the barest hint of upbeat indicators several times this month.”

The Greatest Swindle Ever Sold [6]

Insanity Gone Rampant
(Mogambo Guru)

Stocks Down Amid Worries About US Debt [7]

1Q Home Prices Fall By 19% to 2002 Levels [8] “It is unlikely that we are anywhere near a bottom.”

UAW Trust to Get Up to 20% of GM Shares
“GM will give the UAW up to 20 percent of its common stock, $6.5 billion of preferred shares and a $2.5 billion note to fund a trust that will take over retiree health care costs starting next year. The funding is part of a tentative agreement that union members will vote on this week as GM tries to pull together the remaining pieces that would allow it to restructure outside of bankruptcy.”

Virgin: No Airlines Will Make Money This Year [9]

Obama: The Stimulus Bill Has Created or Saved 150,000 Jobs [10] (Has anyone told him that jobs are being lost at the rate of over 600,000 per month?)

Dallas Federal Reserve $99 Trillion in Unfunded Liabilities [11]

GM Says Bondholder Committee Supports Sweetened Deal [12]

The Fed’s Balance Sheet [13] Very soon America’s largest creditor will be … America

Hitmen Contract to Bust COMEX [14]

April Truck Tonnage Plunges 13.2% [15]

It Is Failing–ALL OF IT! [16]

Rail Traffic Hits Year’s Low [17]