Stock prices are falling even faster than Alan Greenspan’s reputation or Warren’s Buffet’s mystique. Come to think of it, they are all falling at about the same pace. Hmmm…it’s as if they’re all one and the same.

Fed up with the homeowner bailout?

HSBC said it was cutting 6,100 jobs… closing offices all over America.

Merkel leaves us wanting…  Gold soars higher overnight!  Indian rupees’ worst week!  Greenspan Very Bad Idea! And Now… Today’s Pfennig!

“Synchronized boom, synchronized bust,” explains our old friend Marc Faber in the Wall Street Journal. Where have you gone Alan Greenspan? Your nation turns its lonely eyes to you. Ou… ou… ou…

Stocks are up 20% from their November lows. And they could go much higher. But don’t be fooled by this “sucker’s rally”. The Dow is on its way to 5,000. The Fed is trying to stop it. But remember, the Fed caused this crash. And it was government ‘rescues’ that made the 1930s Depression so Great…

I have some bad news for the U.S. government; the taxpayers are not prepared to loan anything to anybody! Hell, total debt-to-GDP is over 350% already, maybe 450%, which is, either way, the highest, by far, of anything I’ve seen in U.S. history…

The finger of blame for this crisis should be pointed at the Fed, says Ed Bugos. Its interventionist activities created an unsustainable bubble. A recession is just the process of correcting these mistakes. Worse still, Ed says the Fed’s current actions are proof that it is not about to change this approach. Expect more inflation, and a bull run in gold.

Rumours continue to circulate that former Fed Chairman Paul Volcker will be Obama’s Treasury or Fed chief. Volcker’s hardline anti-inflation stance makes him an exciting prospect for Greenspan/Bernanke critics. But Andrew Carpenter says we should also remember the painful recessions that Volckers’ interest rate hikes induced…

This is no ordinary slump, says Bill Bonner. We face a “balance sheet recession”, where banks, businesses and investors are forced to cut back after suffering huge losses. Bill says this will take years to sort out. And government efforts to delay the inevitable will just draw out the ordeal.