The Tipping Point at Zero
The USEconomy is bifurcated, with price inflation advancing on the cost side while price deflation harms on the asset side, to produce a nasty storm that is unlikely to abate. When high pressure zones clash with low pressure zones, hurricanes and tornadoes occur. Calling the resulting near 0% or low 2% price inflation on a net basis a good sign completely ignores the forces pulling the national economy apart... Crisis is now the new normal.


Characteristics Of An Economic Depression - Scary Stats From The Land Of The Rising Debt
Markets proved they could still fall yesterday. After having rallied for 15 of the previous 18 sessions, we were beginning to wonder if it were still possible...

In an interesting turn of events, investors actually succumbed to the harsh economic realities of the day. There's no telling how long this momentary lapse of unreason may last, of course, but we'll take what we can get while we can get it.

The primary catalyst for the relatively minor pullback in stocks was a relatively major slump in the sale of new houses. Figures from the United States Department of Commerce revealed that, during the month of February, new home sales decreased 2.2% to an annual pace of 308,000, a record low. Pundits blamed blizzards, unemployment and foreclosures for the depressing statistic.


Irish reporter tries to place Tony Blair under citizen's arrest for 'war crimes'
An Irish journalist tried to place Tony Blair under citizen's arrest for war crimes on Tuesday night during a visit by the former prime minister to the European Parliament.