Bernanke: Fed Will Take “Unconventional Measures” If Needed. “…the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.” (A hat tip to Deborah M. for the link.)
Its Official: China is Unloading its Treasury Bonds
John Williams of ShadowStats Says Economic Data Will Get Much Worse.
Trapper Mike sent this: Ron Paul questions whether there’s gold at Fort Knox, New York Fed. To clarify, part of his concern is that physical gold may indeed be stored there, but that it might actually belong to other parties!
Items from The Economatrix:
Government Set to Confirm What Many Feel: Economy at a Standstill
Stocks End a Brutal August with Meager Gains
Snapshot of an Economy About to Get a Lot Bleaker
Youth Employment Lowest Since 1948
Fed Seeks Delay of Bank Data Release