Perennial content contributor Cheryl N. found this “must read” MSNBC piece: Credit Crisis Prompts Unprecedented Response. It squares nicely with what I have been writing since the Spring of 2007: The global credit collapse is unprecedented, and will be both deep and prolonged. We are nowhere near the bottom yet!
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From The Guardian: Greenspan warns more banks may be bailed out. (A hat tip, again, to Cheryl N. for the link.)
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John R. recommended a brief speculative piece on state secession, penned by fellow SurvivalBlog reader Bill Buppert, recently posted over at LewRockell.com: ‘Good Morning, Mr. President.’
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I mentioned this slide show linked at The Drudge Report once before: The World’s Most Worthless Money. OBTW, their data on Zimbabwe has now been thoroughly overcome by events.On August 1st, Comrade Mugabe’s henchmen lopped 10 zeros off their new national notes. So one of those pre-August Z$100,000,000 notes is now worth only one 1/10th of a cent. And buying a house that would cost $50,000 if denominated in US Dollars would cost $450,095 in the new Zimbabwean dollars. (Or, Z$4,500,950,000,000,000 in the old currency.) Four and a half quintillion dollars! As Buckaroo Banzai would say “That’s a lot of zeros!”