US must cut spending to save AAA rating, warns Fitch

http://www.telegraph.co.uk/finance/economics/6969163/US-must-cut-spending-to-save-AAA-rating-warns-Fitch.html

Families face years of pain, says Bank

 The governor of the Bank of England has warned families must steel themselves for years of hardship even though the recession is all but over. "They will see their standard of living fall over the next two years as salary freezes and rising inflation eat into incomes", Mervyn King said.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7030904/Families-face-years-of-pain-says-Bank.html

Happy Trading

New emails show AIG mulled bank payment disclosures

WASHINGTON (Reuters) - The New York Federal Reserve Bank actively worked with bailed out insurer AIG to build a case against disclosing details of AIG's payments to banks just days after the insurer considered making them public, documents released late on Saturday showed. The link below.
http://www.reuters.com/article/idUSTRE60G0BV20100117

European Central Banks prepares legal ground for euro rupture as Greek crisis escalates

http://www.telegraph.co.uk/finance/comment/7012297/ECB-prepares-legal-ground-for-euro-rupture-as-Greek-crisis-escalates.html

Pollit & Co - Murray’s Market Letter

This is the Pollit & Co January market comment that appears in GATA. It states the biggest challenge facing policy makers going forward is to continue to persuade investors to keep buying, and holding, government paper

http://www.gata.org/files/MurrayPollittLetter-01-06-2010.pdf

California’s Credit Cut by S&P Amid Budget Deficit (Correct)

http://www.bloomberg.com/apps/news?pid=20601068&sid=aSZOLWkZXKmk

Freight trains carry 20% less cargo in 2009 than in the previous year

http://www.latimes.com/business/la-fi-railroads14-2010jan14,0,1878683.story

Hyperinflation Watch

http://www.fgmr.com/us-governments-deficit-grows-yet-again.html

Chinese slowdown is biggest threat to prosperity, says WEF

http://business.timesonline.co.uk/tol/business/economics/article6988736.ece#cid=OTC-RSS&attr=1185799

Will Google's Threat Hurt US-China Relations?

http://www.cnbc.com/id/15840232?video=1386253235&play=1

Commodity-Cost Jump Threatens to Stifle Rebound

http://online.wsj.com/article/SB126300087414822579.html and see my November 8, 2009 blog entry Is it time to invest in food?

Contrarian Investor Sees Economic Crash in China

http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning

Chavez Devalues Venezuela's Currency

http://online.wsj.com/article_email/SB126305109903923235-lMyQjAxMTIwNjAzOTAwNTkxWj.html

Dubai’s First Foreclosure May Open Floodgates in Worst Market

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4TwfiSIfjdM&pos=7

Even in a Recovery, Some Jobs Won't Return

What does the recruiters think about it?

http://online.wsj.com/article/SB126325594634725459.html?

Eurozone faces 2010 debt crisis

http://www.france24.com/en/node/4961069

Your Legal Right To Redeem Your Money Market Account Has Been Denied

A proposed change to the current regulation of money market funds can affect dramatically liquidity of the investor in those funds.

http://www.zerohedge.com/article/government-your-legal-right-redeem-your-money-market-account-has-been-denied

Prepare for a Keynesian Hangover

http://online.wsj.com/article/SB10001424052748703278604574624151582763912.html?mod=googlenews_wsj

Sprott Says S&P 500 Index Will Plunge Below March Low (Update3)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aa85k1XdhVlg&pos=5

China becomes world's biggest gold buyer in 2009

http://www.chinamining.org/News/2009-12-30/1262137809d32872.html

The Federal Reserve Needs More Money

http://www.fgmr.com/december-30-2009-federal-reserve-needs-more-money.html