Describing the current economic crisis and why no nation can print its way into prosperity: “If debt and money printing equaled prosperity then Zimbabwe would be the richest country.” - Marc Faber, as quoted by Andrew Mellon of Breitbart's Big Government blog.





Merryn Somerset Webb: The only currency that can't be printed on a whim





PIMCO's Gross: Markets exhibiting "flight to liquidity". Mass inflation is coming soon, folks. Transition out of dollars and into tangibles now, while it is still affordable!





Leading US Indicator Drops Unexpectedly





Worldwide Stocks Fall for Sixth Straight Day





Jobless Claims Rise By Largest Amount in Three Months





Behind the European Drama Lies a Global Crisis





Mish: Meredith Whitney Sees Bleak Second Half in Stock Market, Small Business Credit Crunch, Double Dip in Housing, Says European Banks in Worse Shape





FDIC: Problem banks at 775. "A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corporation's list of 'problem' institutions in the first quarter, as bad loans in the commercial real-estate market weighed on bank balance sheets."





Whatever Germany does, the euro as we know it is dead





Two Charts Central Bankers Don't Want You To See
posted by Eric De Groot at Eric De Groot - 1 hour ago
Devaluation has always been the "unofficial" official policy used to mitigate the economic and social effects of excessive debt burdens. Devaluation can push up nominal (fiat) stock prices across the globe...

This is all they can afford to close...FDIC is Broke...

Regulators Shut Small Minnesota Bank

Backyard gardens become income generators in lean times