From GG: Borrowing puts UK’s AAA rating in danger after Budget 2009
Also from GG: China reveals huge rise in gold reserves JWR’s comment: Well, “huge” is a relative term. The population of Switzerland is 7.5 million, and the population of China is 1.3 billion. Yet, at 1,054 tons of gold, China’s gold horde is only slightly larger than Switzerland’s. Methinks China will be a big gold buyer in the decades to come, probably in excess of their domestic production.
Items from The Economatrix:
How Low Could the Stock Markets Go?
10 Charts Showing a Prolonged Global Recession
Retirement Dreams Disappear with 401(k)s
Student Loans: Default Rates are Soaring
Black-magic Dollars (The Mogambo Guru)
Treasury Filing Chrysler Bankruptcy
10 Countries in Deep Trouble
Facing The Abyss
UK Budget Recovery Predictions “Utter Fantasy”
Crime Figures Show Rise in Theft as Recession Bites