The global derivatives bubble continues to inflate. According to the BIS there are now $564 Trillion in over the counter derivatives, which includes $441 Trillion in bets on small moves in the direction of interest rates. If and when interest rates spike (and they will!), the counterparty risk will be huge, and spectacular derivatives implosion could bring down the global credit market.
Vince W. wrote to mention a new vehicle that is going to be made here in the U.S. at an old GM plant in Louisiana. They claim it will get 84 mpg, and have an 8 gallon gas tank. Also has a complete roll cage, three airbags and will only cost $6,800
Items from The Economatrix:
Approaching The End Game: "A Domestic Hyperinflationary Environment Should Evolve...Before The End Of Next Year
41 IMF Bailouts and Counting--How Long Before The Entire System Collapses?
19 Reasons to be Deeply Concerned About the Global EconomyWall Street Flat After Fed Minutes, But Bernanke Lifts Futures