There has been a veritable torrent of bad economic news in the past few days. Here is just a sampling…
Ponzi Scheme: The Federal Reserve Bought Approximately 80 Percent Of U.S. Treasury Securities Issued In 2009. (Thanks to Duane for the link.)
George Gordon (“GG”) sent this: 20 Reasons Global Debt Time Bomb Explodes Soon
Also from GG: Sprott: Gold to gain 30% in 2010, higher interest rates to hurt US economy
and another from GG: Fears of ‘Lehman-style’ tsunami as crisis hits Spain and Portugal
Chad S. forwarded this: North Korea’s economic moves bring new misery
John G. liked this piece over at Zero Hedge: The Next Leg Of The Housing Crisis In Five Simple Charts
Items from The Economatrix:
Stocks Sink in on Economy Jitters; Dow Below 9,900
Companies Boost Productivity and Put Off Hiring
Bond Yields Tumble on Latest European Debt Worries