I found this interview with the director of the president’s National Economic Council linked over at The Drudge Report: Lunch with the FT: Larry Summers.
Reader Don W. suggested an excellent piece at Pajama’s TV by Bill Whittle: When Politicians Go Bad: From DC to New York & California The Government We Don’t Deserve
Items from The Economatrix:
SEC May Put California IOU’s Under Fraud Protection Rules
May Trade Deficit Unexpectedly Drops
With Assets Less Toxic, Banks Have Other Troubles
Stocks Post Fourth Straight Week of Losses
Banks Seen Ready to Join US Program that Revises Home-Equity Loan Terms
Roubini: Lost “Animal Spirits” Worsen Economy
Consumer Sentiment in US Falls More than Forecast on Rising Joblessness
Trouble For Treasuries Lurk as California Melts
House Dems Want to Tax the Rich for Healthcare
How Long Can the US Dollar Defy the Law of Gravity?
US Unemployment Claims: How Bad are the “Real Numbers”?
Marty Weiss: Day of Reckoning for California and Ultimately All of America
Lunatics at Nationwide Offer 125% LTV Mortgages as if the Housing Crash Never Happened
Bankrupt Banking System Bailouts And Stimulus: You Can’t Borrow Your Way Out of Debt (Lots of charts and a nice list of where some of the stimulus money has gone) “Optima Lake is in line to receive $1.15 million in federal stimulus money to construct a new guardrail for a lake that does not exist. The guardrail is needed for “public safety,” says the Army Corps of Engineers, but there is not much of the public around to protect. Because the lake has never filled with water it is all but useless to potential visitors.”
Inflation or Deflation? Make Sure You Get This One Right
Higher Minimum Wage Coming July 24th to 29 States. Coming at this time, it might create more layoffs.