First, a Chinese agency downgraded the U.S. credit rating.

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A Chinese ratings firm yesterday made financial history and downgraded the US' credit rating from A+ to A. Meanwhile, hot money flowing into hedge funds and gold saw gold prices yesterday shoot to a historic high of US$1,670 per ounce.
It looks like the Chinese think the deal was a Satan ( Read more... )

WSJ Market Watch
U.S. stocks fall for sixth day on economic nerves


NEW YORK (MarketWatch) - U.S. stocks ended lower for a sixth session Wednesday, with the S&P 500 Index marking its longest losing stretch since early 2009, as investors failed to shake off concerns about the U.S. economy.

“The marketplace ( Read more... )

From DShort.com

It's time again for the weekend update of our "Real" Mega-Bears, an inflation-adjusted overlay of three secular bear markets. It aligns the current S&P 500 from the top of the Tech Bubble in March 2000, the Dow in of 1929, and the Nikkei 225 from its 1989 bubble high.

This series is consistent with my preference for real (inflation- ( Read more... )

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From Bloomberg
Greenspan Sees Growth Slowing as Stocks ‘Flatten Out’


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I missed this earlier, otherwise would have added it as more than just a footnote to the Depression Debate post yesterday.

Completely unrelated to the Shedlock v. Ritholtz challenge going on yesterday, but with uncanny timing, David Roseberg of Gluskin Sheff also had some less than flattering things to say about the state of the economy. Here are ( Read more... )

Credit: Chart of the Day


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In real, inflation-adjusted dollars

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For 16 months after a start, the current downturn has
now wiped out the most jobs, by far, of all Post WWII recessions -

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