Russia 'Simulates' Nuclear Attack on Poland

From Jenna Orkin:

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Russia 'simulates' nuclear attack on Poland
Dollar Will go to a Value of Exactly Zero Eventually (from Vantage Point)
Roubini: Mother of all carry trades faces inevitable bust
Washington Beats U.S. Housing Slump as Obama's Budget Hits $3.5 Trillion
British Nuclear Scientist's 17th Floor UN Death Plunge "Not Suicide" (from Vantage Point)
It has been suggested that Mr Hampton may have been involved in talks discussing nuclear testing in Iran. The UN has strongly denied the claims...

Under a year ago, an American died at the IAEA in strikingly similar circumstances, his body being found at the bottom of a stairwell.
Debt Slave Bait and Audit the Fed Bill Gutted: What You Can Do
Ron Paul on Forbes: Be Prepared For The Worst; On Larry King Discussing Michael Moore
Government and Lender Policies of Fear and Shame Help Keep Homeowners Debt Slaves
It is Japan we should be worrying about, not America
There will be a fiscal shutdown, a pension haircut, and bank failures that will rock the world. It is criminally negligent that rating agencies are not blowing the whistle on this." The true message of the article: QE was too little, too late, and this is the lesson for the West. We must cut borrowing drastically over the next decade, and offset this with ultra-easy monetary policy. Does Downing Street understand this? Does the White House? Does the European Central Bank? Clearly not.
Painful death of the American dream
The End Of Electricity (from Rice Farmer)
Bank Of America CEO Poll - Incredible Result
Estimate: Half of U.S. kids will get food stamps (from Rice Farmer)

Quote of the day:

To understand why the GDP numbers could be so good when the economy all around looks so bad, it is necessary to understand a few pertinent details of the GDP calculation. It is necessary to see just what meat and meat by-products go into this economic sausage. For one thing, GDP includes government spending...but does not SUBTRACT any of the borrowing the government does to fund its spending. And obviously, government spending is in no way a reflection of private sector economic activity. http://www.dailyreckoning.com/

Stimulus fueled much of the expansion
Is Debt-Deflation Just Beginning?
Before Walking Away Consult An Attorney
Obama creates 640,329 jobs at a cost of $323,739.83 per job
400,000 Names on FBI Terror Watch List (from Rice Farmer)
"The Washington Post reported that during a 12-month period ending in March of this year, 1,600 people were nominated daily by the U.S. intelligence community to be put on the list due to 'reasonable suspicion.'
Nine banks go bust in one day (from Rice Farmer)
How Bloomberg Fabricates U.S. Housing Numbers (from Rice Farmer)
How Goldman secretly bet on the U.S. housing crash (from Rice Farmer)
Mystery: Why did Goldman stop scrutinizing loans it bought?
How Moody's sold its ratings - and sold out investors
One couple stands up to Goldman Sachs
Goldman Sachs' secret bets
State-by-state data on troubled mortgages (from Rice Farmer)
Buffett's Big Rail Buy: What It Means

Europe
Eurozone Unemployment At Record Highs; Private Sector Lending Drops First Time Ever
RBS, Lloyds Banking Get $51 Billion From U.K. Taxpayers in Second Bailout
The great British bank sell-off begins
£4,350 per family needed to bail out Britain's banks
Tory economic tightening plans could be a disaster, warns survey
Brown to tackle chaotic families
"A lot of the residents find it prison-like to begin with," Wood admits. "I imagine initially they find it quite intrusive."

Comment: Like the rounding up of older men with child brides in the US a few years ago, this program sounds virtuous and positive. But what does it usher in? - JO
Darling prepares to unveil bank shake-up
UK needs ‘£350bn tax rises and spending cuts’
Roger Bootle, of Deloitte, will say that Britain’s public finances are in the ‘worst shape for at least half a century’
Worry about lack of growth, not more QE
There's too much spare capacity in the economy for QE to pose any near-term inflationary danger.

Middle East/Australasia
Margrit Kennedy Inspires New Zealand Groups To Establish Regional Money Systems
A Different Dubai (from F. Kamilov)

Energy/Climate Change/Science
Winter crisis could see UK 'run out of gas in hours' (from Rice Farmer)
Governments fail to acknowledge imminent oil supply crunch, says UK’s Global Witness (from NYC Peak Oil Meetup)
Climate change could kill 250,000 children in 2010
Review: James Lovelock, The Vanishing Face of Gaia; A Final Warning
Kissing Was Developed to Spread Germs
What lies beneath the rainforest
You want the Amazon to survive? Then pay us not to pump the oil, says Ecuador.
The unwanted equation: poverty vs climate change
One in five mammal species on extinction 'red list'
Many reptiles and amphibians also critically endangered, while up to 70% of plants could be wiped out, say conservationists