Economics and Investing:

Sterling Crisis Looms as UK Unraveling Points to Budget Cuts (Thanks to Heidi for the link.)

Tom G. flagged this: Unwinding at AIG Prompts Pasciucco to Ponder System Failure

Frank S. mentioned this grand understatement: Biden: ‘We Misread How Bad the Economy Was’

Items from The Economatrix:

Another Wave of Foreclosures is Poised to Strike [That is hardly a news flash for SurvivalBlog readers!]

Obama Expands Housing Rescue: Six Things to Know

Joel Skousen: Cap and Trade Bad For a Sick Economy

US Stocks Slide in Dow’s Worst Drop Since April on Jobs Data

With Economy Down, Cities Growing (Rather Than Suburbs)

Gimme A Break Dept: Bailout For World’s Oldest Profession
Amsterdam considering bank, credit help for prostitutes

European Stocks Decline for Third Week in Longest Losing Streak Since March

Dollar Rises vs. Euro on Signs Economic Rebound is Faltering “They Just Don’t Get AIG”
Media critic slays The Times for ignoring a big AIG promise

Glut of Oil Could Push Gas Prices Below $2

Current Recession is a Severe Credit Bust of Depression-Era Magnitude

Inflationary Crack-up Boom Has Commenced in the G-7 Economies

US Economy Heading For Japan of the ’90s or Argentina 2002?

Hyperinflation or Depressionary Deflation–Which is More Probable?