Reader HPD mentioned this article: 24 States Borrow Money To Pay Unemployment Benefits. HPD's comment: "Don't worry. The Fed sees signs of recovery... Besides, Barney Frank and Nancy Pelosi are on the scene to fix it. "
Another missive from Dr. Housing Bubble: Wall Street and Housing Neurosis: The Real Cost of California Homeownership. Extreme Foreclosures, Option ARMs, Renting Utility Costs, and Breaking the Financially Twisted Psychology.
Noah C. spotted this: Heh, I Thought Dubai Was a Non-Event. Here is a quote: "Refusal to stand-still means there's an immediate default, which means the [credit default swaps] go boom"
Items from The Economatrix:
Chinese Official Slams Western Banks Over Derivatives
Gold Will Reach Mind-Boggling Levels
High US Jobless Rates Could be New Normal
Japan's Recovery Stumbles
China Wary of Gold "Bubble" Danger After Doubling its Reserve. [JWR's comment: At least it beats leaving their assets in the stinkin' US Dollars!]
Recent World Events Indicate Impending Market Chaos. "All those who value truth, liberty, and an honorable society, should be ready not only to save themselves, but to save each other, and to save their country. The time for readiness grows short."
Taxpayers in 29 States Hit With Higher Taxes
This is Progress? Jobs Data Optimism Obscures Harsh Reality
