From Joan M.: Sen. Gregg Criticizes ‘Banana Republic’ Budget Proposal A quote: “The ranking Republican on the Senate Budget Committee warned on Monday that President Obama’s budget proposal will lead to unsustainable debt levels and send the country on a fiscal path resembling that of a ‘banana republic….called the deficit estimates attached to the budget plan “staggering,” and he warned that such deficits would trigger a national debt that amounts to “running your country into the ground.'”
MVR sent this interesting perspective on the US Dollar and debt from Thailand: The real US financial crisis has yet to begin
G.G. sent this: U.K. Gilts Slump After First ‘Failed’ Bond Auction Since 1995
Steve W. liked this one: Daniel Hannan MEP: The devalued Prime Minister of a devalued Government
Items from The Economatrix:
Economy Brings Out Entrepreneurial Spirit
EU Presidency: US and UK Economic Recovery Plans are “A Way To Hell”
Obama Declares “Signs of Progress” for US Economy. (Shhhh! Don’t tell him about the Alt-A and Option-ARM rate resets peaking in 2010 and 2011. We mustn’t discourage him)
Goldman Sachs to Return $10 Billion Bailout
Vandals Target Sir Fred Goodwin’s (Former RBS Boss) House and Car
Czech Government Collapses Over Economic Crisis. (I told you so: “If and when the global derivatives bubble ever pops, it may topple not just trading companies like Goldman Sachs, or corporations like GM, Daimler-Chrysler, or RCA, but entire nations. I’m not kidding.” (SurvivalBlog: September 25, 2006.)
Freeze the $1.5 Quadrillion Derivatives as First Step to Recovery
Peter Schiff: Stimulus Bill Will Lead to “Unmitigated Disaster”
Why the End of America is Closer than You Think
Obama to Meet With Top Bank CEOs on Friday