By The Daily Bell
China Inflation `Volcano’ May Prove Too Hot for Controls After Cash Surge … China’s plans to rein in prices include selling state food reserves, stabilizing the cost of natural gas and cracking down on speculation in and hoarding of agricultural products, the State Council said. Standing near his 12-table noodle shop on Beijing’s Yonghegong Avenue, owner Liu Heliang says meat and vegetable prices have climbed 10 percent in a Read More »
How to Cut the Deficit Without Raising Taxes – Washington Post
Americans Are Spending Again—Whether They Can Afford To or Not – Newsweek
Default Is Dirty Word to America’s Willing and Able – Bloomberg
Why the Stock Market Isn’t Fair – Fortune
Alarm Over U.S. Debt Creates ‘Window’ for Tough Choices – USA Today
By Pamela Geller for American Thinker
The turkey being served up last Thursday by the ruling elite was the American people. Because she was wearing a panty liner that obscured the screener’s view of her genitals, a TSA official subjected a menstruating woman to a fondling “so invasive that I was left crying and dealing with memories that I thought had been dealt with years ago of prior sexual assaults.”
When did we agree Read More »
Obama Administration Is Weak in the Face of WikiLeaks – Washington Post
First Priority? Control Federal Spending – Chicago Tribune
Obama Risks Democratic Revolt in Lame-Duck Session – ABC News
Group Would Eliminate Social Security for Wealthy – Bloomberg
Irish Bailout Helps Banks, Angers Taxpayers – AP/Yahoo
By Bill Bonner for The Daily Reckoning
Is our “Crash Alert” flag still flying?
It is?
Good. Just checking.
Don’t breathe too hard. Don’t touch anything. We’re on tiptoes… So many things could bring this stock market crashing down. We can go around the world and point at them. China. Ireland. America itself…
And, oh yes, North Korea is firing rockets at South Korea….
Over time, the tensions, contradictions and pressures build up. You try to fix one Read More »
By Michael Panzner
Take a look at the picture. Do you see a large, captivating lake in the distance? If so, then you might want to consider becoming an economist. Why? Because, as The Boston Globe reports in “Recovery a Mirage for Most, Poll Finds,” they have a habit of seeing things that aren’t really there.
Survey suggests few feel recession over
More than three-fourths of Massachusetts residents surveyed say the recession has Read More »
By Justice Litle, Editorial Director, Taipan Publishing Group
There are two ways to view the ongoing sovereign default drama in Europe. Call them the “soap opera” perspective and the “disaster movie” perspective.
Europe as soap opera: In this view, there will be a lot of sturm und drang — a lot of hand-wringing — but ultimately Europe will be fine. The eurozone will not be severely impacted, and the euro currency may not even Read More »
U.S. Diplomatic Leaks Are Nothing Short of a Political Meltdown for US Foreign Policy – Der Spiegel
We Have to Get This Moment Right – Friedman/NY Times
Balanced-Budget Dream Will Take Decades to Achieve Even for Deficit Hawks – Bloomberg
Obama Needs to Hear a Voice From Outside the Presidential Bubble – Wall Street Journal
Tax Break for Employer Health Plans a Target Again – AP/Yahoo
By Peter Schiff, Euro Pacific Capital, Inc.
Given the opposing views of the potentially parsimonious new Congress and the continuously accommodative Federal Reserve, there is a movement afoot among Republicans to eliminate the Fed’s “dual mandate.” Prior to 1977, the Fed only had one job: maintaining price stability. However, the stagflation of the 1970s inspired politicians to assign another task: promoting maximum employment. This “mission creep” has transformed the Fed from a monetary Read More »
Black Friday Retail Sales Edge Up Only Slightly - AP/Yahoo
Debt Turmoil, Contagion Fears Sweep Europe – AP/Yahoo
Public Employee Pensions: We Can’t Afford Them – LasVegas Review Journal
Insider Trading: The Least Surprising Event of 2010? – Fortune
Mood in Europe Turns Ugly. Two Germanys Emerge: One Generous, One Unforgiving – MarketWatch
