Venezuela Heading Down the Path of Zimbabwe

This is totally unsurprising because one can ignore the laws of economics all one wants to, but one cannot escape them. Apparently the Venezuelan central bank is turning to "alternative means" to finance its disaster of an economy. Meanwhile, rather than blow through most of its dollar reserves, it is trying to put one over on Brazil by borrowing money from them. Good luck getting paid back, unless oil goes to $120 a barrel again.

Ron Paul: Current Conditions or Bad Dream

Bam! Ron Paul summarizes our mess quite well. Sad.

Read Caroline Baum

This is one smart lady. If you read her consistently you'll have pretty good insight into financial markets and economics. This article is a "what if" investigation into what could come of the planned government bailout. I think she is probably correct, especially if past government attempts at financial engineering are any judge (Read "Fiat Money in France.")

Slouching Towards Serfdom

Marketwatch has an article listing 11 reasons why America is the top socialist economy. Unfortunately, they are correct. We are marching down Hayek's Road to Serfdom quite rapidly.