Economics and Investing:

Debasement of 5 Pence and 10 Pence coins in England is causing problems: New coins won’t work in parking meters and vending machines. (Thanks to G.G. for the link.)

B.B. sent this charming news: Treasury dips into pension funds to avoid debt: “The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.”

China Brings US Treasury Holdings To One Year Low, Russia Cuts Treasury Exposure By 50% In One Year. (Thanks to S.M. for the link.)

Craig D. flagged this: World Bank warns on risk of global recession

Items from The Economatrix:

Europe Must Move Quickly After Downgrades–Merkel

S&P Downgrades Eurozone’s EFSF Bailout Fund

How to Prepare for the Difficult Years Ahead

Oil Pries Waver On Concerns About Global Demand