Fed Up: The Fed's failures are many and obvious. Many wonder if the Fed's next move will be too soon or too late, too much or too little - no one expects it to do the right thing at the right time. Yet Washington seems inclined to give the Fed even more powers over the economy that it has mismanaged for so long. Its failures demand its demise, but letting banks play with the scissors is unacceptable. No suggestion has yet floated to the top of the pond as to what might be a next step.
Two, Tangoing: Mortgage fraud takes two parties, one committing the fraud and one willing to look the other way. The FBI says both groups are busy - seizing every straw that may give them a few more months of feeling rich. There are builder/bailout schemes, short-sales, faked prices, and the foreclosure prevention cons. It's the American way.
Where Have All the People Gone? Apartments stand vacant in the largest numbers in 20 years, even while foreclosures tumble on. Did everyone move back in with Mom and Dad?
Oh, Ship: Globally, 27 million fewer containers will be shipped this year than last - a 10% drop. That's the same as simply shutting down the 5 largest US ports for a year. 2010 is expected to be about the same, with a possible return to 206/7 levels "in several years."
Too Much, Too Late: Ignoring global climate change hasn't made it go away. Carbon trading is but a way to enrich a few without changing overall emissions. Nearly all the "green" stuff is a scam. The carbon already in the atmosphere has given global warming too much inertia for the puny cuts proposed by governements to do any good. If we don't stop global warming, global warming will stop us.
Optimist: "We're halfway through a secular bear market in equities."
Deal 'em In. Or Out: While France joins Russia, China, Brazil and India in calling for review of the world's currency practices, South Korea appears to be seeking safety in gold.
Peak-a-Boo: On July 11, 2008, oil reached its all-time high. Since then the global economy has collapsed, petroleum consumption has fallen, world output and trade have slowed, the auto industry collapsed, unemployment is exploding and the housing industry is comatose. It may or may not have been the actual date of 'peak oil', but everything that has happened since fits into most post-peak doomster predicitons. So let's commemorate 7/11 each year as Peak-a-Boo Day; the day it all fell apart.
Porn O'Graph: Synchronized diving.