The absolute must-read editorial of the week... of the month

From 321gold.com:
Bernanke, You Stupid B%#%^*d
Yes, you.
And Trichet, and the rest of the Central Bank fools.
But especially you, Bernanke.
There's dumb and then there's really dumb. Let's take a short walk back down history lane.
You were sure there was no housing bubble.
Then you were sure it wouldn't pop.
Then you were sure when the subprime problem hit, that it wouldn't cause a recession.
Then you were sure you had it under control with Bear Stearns' hedge funds.
Then you were sure you had it under control with Bear Stearns itself.
Then you were sure it was under control with Lehman, even though you had to know Citibank and others were refusing their collateral in the repo market.
You were sure QE would support higher bond prices - and lower yields. The exact opposite thing happened.
You were sure QE2 would suppress long end yields. The exact opposite thing happened.
Oh yeah, you made excuses both times, but in fact you publicly said that in both cases the exact opposite thing would happen that did.
Now let's look at what happened just today...
Read full article...
More must-reads:
Porter Stansberry: You must prepare for a crisis NOW
Stansberry: Detroit's socialist nightmare is America's future
The best explanation of Barack Obama's agenda we've ever read
View the original article here

Must-read of the week: The White House unveils new plan to slash federal deficit

By The Daily Crux:

Earlier this week, a White House commission revealed a plan to reduce the federal budget deficit by hundreds of billions of dollars a year, or $3.8 trillion over the next 10 years.

We're all for cutting the size and cost of the federal government , but it's important to realize the projected annual deficits over the same period total $7.7 trillion... meaning the government will still be adding another $4 trillion to the $13.7 trillion and growing federal debt.

It's also important to note that while 75% of the savings come from cuts to Social Security, Medicare, and defense spending, 25% comes from increased taxes... most of which are expected to target the middle class.

Naturally, the plan has drawn criticism from both liberals and conservatives... and highlights just how unlikely it is any meaningful reductions to the deficit will be passed.

Read full article...

More from Washington:

Gov't budget expert reveals U.S. debt far worse than Greece

Obama shocker: White House now in talks of reducing taxes

Gov't OUTRAGE: Fannie and Freddie to were paid to "manage" the Wall Street bailout

View the original article here