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Economics and Investing:
Dimitri
Orlov on The New Money (A hat tip to
Ruby and Vlad’s Mom)
The truth escapes the lips of BHO: Obama
Says U.S. Long-Term Debt Load ‘Unsustainable’ I'm praying
that he does the right thing, but given the composition of Big Government/Big
Taxes/Big Deficits policy wonks that were picked for his Cabinet, I have my
doubts.
Thanks to B.H. for this video link: "The Worst Is Yet to Come":
If You're Not Petrified, You're Not Paying Attention
GG sent us this: China's
yuan 'set to usurp US dollar' as world's reserve currency
Items from The Economatrix:
Even BoE Has No Idea What Will Happen
UK: BT
Doubles Job Cuts to 30,000 "BT has slumped to an annual loss for the
first time in almost a decade and doubled jobs cuts to 30,000, as the former
state-owned telecoms company struggles
with a disastrous performance of a key division."
Sony
Reports Record Loss Amid Consumer Slump "Sony today confirmed the
worst about its performance through the global economic slump by announcing
its biggest group operating loss of Y228 billion,
(£1.6
billion). The Japanese company also predicted another year of losses for the
period ending March 2010."
OPEC: Oil Demand Still Declining
Dubai:
No "Green Shoots" in the Desert
Beware
of a Premature Return to "Normal" "Forgiveness is wonderful.
But if it is granted too soon, miscreants tend to go back to their wicked ways.
Markets risk giving some parts of the financial
system just such a premature pardon."
Roubini:
Prepare for the Demise of the Dollar's Status as a Reserve Currency. "This
would have serious costs for America, as our ability to finance our budget
and trade deficits cheaply would disappear."
Stock Markets Battle Poor US Retail Sales Numbers
Geithner:
Bailout Repayments Will Be Used For Smaller Banks (That is, if it is legal.
As the law is presently worded, "...whatever is returned to the Treasury goes
into the general fund.")
College Graduates Struggle to Repay Student Loans
Toledo's White Collar Workers Recalibrating Their Lives After Layoff
Economist: Michigan Jobless Rate May Rise to 20%
Japan "Would
Avoid
Dollar Bonds" "Japan's opposition party says it would refuse to
buy American government
bonds denominated in US dollars, if elected."
"It's
Going To Get Worse Before It Gets Worse"
Inflation
Unavoidable (The Mogambo Guru)
