Forget 10% Unemployment, The Real Job Loss Pain Number is 54%


Iceland reports record 34 percent inflation


The Fall of the Euro


Gold is 'Only Currency' Worth Investing: Strategist


Portuguese Five-Year CDS at Record High, Spread Wider. Can you spell D-E-F-A-U-L-T, boys and girls?


U.S. Food Inflation Spiraling Out of Control


NY State Weighs Emergency Borrowing- Wall Street Journal


US Shuts 7 More Banks; Year's Failures Rise to 57- NY Times


10 Cities Facing a Double Whammy of Default Risks


The Housing Crash Has Just Started; Get set for falling prices again. Round two is about to begin.


Greek Bond Market Crash, Greek Budget Deficit Worse Than Feared


Marc Faber Says Holding Cash Will Be A Disaster, Investors Should Accumulate Gold


Why are US Stocks an the US Dollar Rising?


The Devaluation of the US Dollar, Gold's Springboard


US Housing Market Crash Update, There's a World of Pain Ahead


Financial Reform Bill Will Devastate US Economy


US in the Midst of the Greater Depression, Fourth Turning Generational Crisis


US Debt - 'Short-Term Is Awful; Long-Term Is Hideous'- Washington Post


China Given #3 Seat at World Bank- CS Monitor


Some Americans can read the writing on the wall...can you?

More American Expats Give Up Citizenship- NY Times


Fannie Turns Today's Defaulters into Future Customers


Sen. Grassley: GM Didn't Really Pay US Back- Newsmax


Keep an Eye on Chinese Gold Consumption- Daily Markets


Jim Sinclair’s Commentary


There is no question in my mind that the US dollar will meet the downside estimates given.
Dollar, Euro, Pound Are All ‘Ugly Sisters,’ HSBC’s King Says April 26, 2010, 10:46 AM EDT By Jennifer Ryan


April 26 (Bloomberg) — The dollar, euro and pound are all unappealing investments, either because of policies of “benign neglect” or concerns on the euro region’s stability, said Stephen King, chief economist at HSBC Holdings Plc.
“It is a competition between ugly sisters, they are none of them particularly attractive” he said in an interview today in London. In the U.S. and U.K., “there will be a policy of a desire not so much to drive the currency low, but a policy of benign neglect. If the dollar weakens and sterling weakens, the authorities in those countries will be more than happy.”
The European Central Bank won’t want to see a weaker euro because that would imply a loss of investor confidence in the single currency, King said. The euro has dropped against the dollar and sterling on concern that Greece won’t get a rescue package to help it meet its debt payments.
“If the euro weakens, it’s more a worry about the stability of the euro zone and that’s more of a concern to the ECB,” he said. “You’ve got on the one hand the benign neglect approach from the States and the U.K., on the other you have the worries about the structural integrity of the euro, which is obviously weakening the euro.”
King’s book, “Losing Control: The Emerging Threats to Western Prosperity,” will be published next month.
The euro is down about 1.5 percent against the dollar this month and traded at $1.3331 as of 2:39 p.m. in London. The currency has dropped 3.3 percent against the pound in the same period to 86.13 pence.
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Quote of the day...

When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it. –Frederic Bastiat