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Economics and Investing:
Frequent content contributor GG sent this: Toxic
assets ‘bridge too
far’
Also from GG: come this from mainstream (Wall Street Journal) commentator
Brett Arends: Is
Your Portfolio Ready for Hyperinflation?
Germany Blasts 'Powers of the Fed'
Reader A.C. flagged this: Experts
Fear U.S. Will Suffer Zimbabwe-Level Inflation
From Trapper Mike: Dollar Declines as Nations Mull Reserve Currency Alternative
Items from The Economatrix:
Bernanke:
Start Work Now to Curb Deficits "Rep. Paul Ryan of Wisconsin, the
panel's highest-ranking Republican, raised concerns about the budget deficits
and the Fed's own actions to stimulate the economy, including buying government
debt. "This can be a dangerous policy mix," Ryan warned, adding
it could lead to "runaway inflation." With the recovery likely
to be subdued, inflation will remain low, Bernanke predicted."
Signs
of a New Financial Storm for September Coming from Dubai and Saudi Arabia
California's
Day of Reckoning a Warning to Europe
40% Unemployment in the US?
31-Year-Old "Almost Law Student" in
Charge of Dismantling GM
Citigroup Stuck with Bernanke Plan Rivals Plan to Refuse
US Newspaper Revenue Slide Continues
GM
Shuts Part of US "Arsenal of Democracy" "During its finest
hour in World War II, the retooled Willow Run car factory here could make an
operational B-24 heavy bomber in just 59 minutes."
Chinese Students Laugh at Geithner
Stock Market Dissonance: Why The Market No Longer Reflects Main Street Economics
And The Dow Jones Industrial Average "One of the biggest bankruptcies
in history occurred on June 1st yet you would not know this by looking at the
stock market. In fact, the Dow Jones
Industrial
Average (DJIA) shot up by 220 points. If we look at total assets, this is the
fourth largest bankruptcy in history. The Dow is made up of 30 companies that
show a supposedly wide cross section of the American economy. The company that
filed for bankruptcy was General Motors and was actually one of the 30 components.
A company that dates back to 1908 and survived the Great Depression. So how
can it be that a company that employs 250,000 filing for bankruptcy is actually
good for the stock market and makes the DJIA rally so strongly? The easy answer
is the stock market no longer reflects the economic reality on main street."
Dollar
Declines as Nations Mull Reserve Currency Alternatives "The dollar
weakened beyond $1.43 against the euro for the first time in 2009 on bets [that]
record U.S. borrowing will undermine the greenback,
prompting
nations to consider alternatives to the world’s main reserve currency."
The Simple
Solution (The Mogambo Guru)
Northwestern
Mutual Insurance Makes First Gold Buy in 152 Years! [As a hedge against
further asset declines] “Gold just seems to make
sense; it’s a store of value,” Chief Executive Officer Edward Zore
said in an interview following his comments at a conference hosted by Standard & Poor’s
in Brooklyn. “In the Depression, gold did very, very well.”
