KAF flagged this: Venezuela nabs two for trying to ‘Twitter’ a run on banks. Consider this fair warning on a new threat: “flash mobs” that could trigger crises including bank runs, and runs on key commodities. Do you remember how Johnny Carson made one offhand remark that sparked “The Toilet Paper Crisis of 1973”? The burgeoning social networks could be used to spread a panic far and wide, whether it is justified or not.
SurvivalBlog reader Tony B. sent us this: Dollar weakness reflects optimism. Tony’s comments: “How upside-down is people’s thinking when the value of the dollar falling is seen as a good thing, because people will pull out of gold and silver to hold counter-inflationary real money? Are people so obsessed with the numbers ‘Hey, I have 10% more dollars now!’ – that they don’t think about what these changes mean? ‘Why did the price of everything go up 15%?'”
S.M. spotted this: U.S. marks 3rd-largest, single-day debt increase, $166 billion jump spurs concerns over policy.
Two more items courtesy of S.M.: Deficit hits $1 trillion in June for second year, and IMF presses US to cut debt,
Items from The Economatrix:
Mortgage Applications Rise 7% as Rates Fall
The US: A Long Economic Winter Ahead
UK: 70 Top Graduates for Every Job Opening
Europe’s “Toothless” Bank Tests Making Matters Worse
Makow: Use World Currency to Renounce the Debt