Jim O’Neill Suggests It May Be Time For The US To Give Up On Our Own Middle Class, And Focus On China’s

Zero Hedge | China will be ecstatic that the US will now be funding the development of its own middle class. As for ours… Oh well.

Ron Paul: Where Is the Gold?

New American | Congressman Ron Paul revealed that next year at the start of the newly inaugurated 112th United States Congress, he would introduce a new bill to audit the U.S. gold reserves.

Make Sure the Bunker is Well Stocked

Mike Whitney Information Clearing House August 29, 2010 Robert Herz was forced to resign from his job as as chairman of the Financial Accounting Standards Board (FASB) because he insisted that the banks assign a fair value to their assets. That’s not what you’ll read in the papers, but it’s true just the same. Herz

China is Unloading its Treasury Bonds

Oil Price | It looks like the smart money these days is found in China.

10 Leading Retailers Close Stores

Mish’s Global Economic Trend Analysis | Signs of weak consumer discretionary spending are popping up in multiple places.

Plunge in Home Sales Stokes Economy Fears

Wall Street Journal | U.S. home sales plummeted in July to a level not seen in more than a decade, spurring fears of renewed weakness in housing prices and the broader economy.

Dow Reclaims 10,000 as Stocks Pare Losses

CNBC | Stocks opened lower for a fifth straight day Wednesday as disappointing reports on new home sales and durable-goods orders stoked worries about the economic recovery.

Unemployed group blasts Geithner’s handling of economy

The Hill | UCubed, a group representing unemployed and underemployed workers, sharply criticized Treasury Secretary Timothy Geithner for his handling of the economy.

Home Sales Plunge to Record Low

NY Times | Sales of existing homes plunged 27.2 percent in July, down to their lowest level since the National Association of Realtors began keeping track over a decade ago.

Americans Using Their Rainy Day Savings to Live

Rebel Traders | The reality of the ‘real economy’, as measured by people, not Wall Street, is a deteriorating economy where any source of funds is fair game to be tapped into.

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