Lots of fooky economic stories this week. Here are a few that I particularly disliked:
TIME IS RUNNING OUT FOR U.S. TO TACKLE FISCAL WOES. I don’t know about you , but Obama’s guy Volcker sure does sound an awful lot like that fearmongering, eeeeeevil Glenn Beck. Someone aught to censor them both – they’re dangerous!
IS EUROPE HEADED FOR A MELTDOWN? Good thing we’re all the waaaaaaaaaay over here across the Atlantic!
CHINA TELLS U.S. TO PUT FISCAL HOUSE IN ORDER Choose your own adventure here, but don’t forget to include North Korea.
US MONEY SUPPLY PLUNGES AS OBAMA EYES FRESH STIMULUS Let me take a stab at what this means… Despite historic amounts of money being printed, its circulation is at near-historic lows…right around where we were just before the Depression. So why is this happening? Well, spending is down because Americans just aren’t trusting in the rainbows and unicorns promised by Obama and the stimulus, no matter how often this administration tries to imprint in our minds that it saved us from disaster. Spending is also down because the demonized banks are scared shitless and aren’t lending. Maybe they’re waiting for a crash and run? Maybe they’re waiting for 2012? I don’t know, but it’s not good. So what’s next? Clearly, Something is coming. And you can bet your bottom dollar that throwing more Barry Bucks in the fan isn’t going to stop It.