"The recent acceleration of the Euro price of gold illustrates how the Europeans are currently leading in the "race to the fiat bottom." Rest assured that this leadership will change frequently over the coming years as long as devaluation remains a politically viable option."




States Bristle as Investors Make Wagers on Defaults




In ‘Chair City,’ Budget Cuts are ‘Amputating’ Municipal Services




Meat Prices May Spike this Summer (Stock up your chest freezer now, and lay in a supply of canned meat! Since grain prices are remaining high, meat will probably be very expensive for the next few years.




Greece is just the ‘tip of the iceberg’, Nouriel Roubini warns Greece is just the "tip of the iceberg” of a sovereign debt crisis that has the potential to derail a global recovery, Nouriel Roubini has warned. Published: 6:00AM BST 29 Apr 2010

Professor Roubini, the New York-based academic who was one of the few to anticipate the scale of the financial crisis, told a panel in California that the buildup of debt is likely to lead to countries defaulting or resorting to inflation to ease the burden on their populations.
“While today markets are worried about Greece, Greece is just the tip of the iceberg,” Roubini told the Milken Institute Global Conference in Beverly Hills, California. "The thing I worry about is the buildup of sovereign debt.”
Although Greece’s misreporting of the scale of its own debt has helped shatter investors’ faith, the southern European country is not alone in its struggle. The depth of the property bust in both Spain and Portugal has prompted the ratings agency Standard & Poor’s to downgrade the creditworthiness of both.
More…




Unemployment Challenges Obama's Narrative




Greece Cut to Junk at S&P as Contagion Spreads




When this happens...County and City workers will lose all their retirements...It happened in Georgia.
Harrisburg, Pennsylvania Considering Bankruptcy






Ask yourself why California and New York haven't been downgraded? Both are in substancially worse shape then any of the countries listed...
Spain Downgraded, Europe Debt Crisis Widens JWR Notes: Iceland, Greece, Portugal, and now Italy and Spain. Who is next?




Food Prices Rocket in North Korea. Lisa's comment: "The article says the prices change by the hour." Can another famine be coming to North Korea?


Canada considers eliminating the penny.




They are saying he will print money till we run out of trees...
Obama Nominees to Nudge Fed toward Easier Money- Wall Street Journal




This is really important, keep your eyes on it...They want to get out of holding U.S. Dollars before the Dollar collapses...watch and learn....watch and learn...
French and Chinese Discuss "New Monetary Order"- China Daily




Let's see...What do you think will happen when 1,000,000 Americans loose their only income, with no jobs available and are pushed out onto the streets? ALL AT ONCE...
1 Mln Jobless May Lose Aid due to Deficit Concern- Bloomberg




It's only a matter of time till your city follows...
US Cities Forced to Consider Bankruptcy- Financial Times




This is what happens when countries raise taxes too high...companies vote with their feet and head for greener pastures...
European Hedge Funds Plan Move to Asia- BusinessWeek