If there’s a proverb that captures the outlook for the U.S. economy in the New Year, it’s the one that says: “It’s always darkest before the dawn.”

Nomura Holdings Inc. (ADR: NMR) yesterday (Monday) snapped up bankrupt Lehman Brothers Holdings Inc.’s (OTC: LEHMQ) Asia assets, and is close to inking a deal for its European units as well. Tokyo-based Nomura will pay $225 million for Lehman’s Asia-Pacific operations. As part of deal, Nomura will take on 3,000 former Lehman employees in the region.

Primary Fund “Breaks the Buck;” Samsung’s Hostile Bid; Gold Shines; Oil Rebounds; Construction Slowest in 17 years; Barclays Could Buy More Lehman Assets; GE and Google Go Green; Wachovia Reaches Out to Morgan Stanley

Some of the greatest economic shifts in history are associated with big political swings, if not with politicians by name. Think of Hooverism, Roosevelt’s New Deal, Reaganism or British Thatcherism. But those are just labels. Things are not as simple as they imply.

The moment that trading in Hong Kong opened on Tuesday morning, both gold and silver got bushwhacked. In all my years of watching the Kitco precious metals charts, there has never been a day like this in Far East trading…ever.

Since the days of Alan Greenspan, the Fed has been so petrified of a slowdown it has practically killed the value and stability of the dollar, says Adrian Ash in Whiskey and Gunpowder.

But by keeping interest rates below the rate of inflation for three straight years starting in 2002, the Fed created a bubble in the housing market. That bubble has now popped, leaving in its wake a severe liquidity crisis.

Now big banks won’t lend without the backing of government bonds, and the Fed continues to inflate money supply. All good news for gold, says Adrian…

Since July 15 when U.S. markets hit another intermittent low amid the ongoing credit crisis, the Dow Jones Industrials Average (Dow) has gained 7.2%.

Is your money safe if your bank goes belly up? The Federal Desposit Insurance Corporation (FDIC) insures you in case the worst should happen… but only up to $100,000. So, what happens if your account exceeds this limit? The Sovereign Society’s Erika Nolan says she has discovered “a masterful solution to protect your savings” even if your personal or business account is worth up to $50 million. More from Erika…

Existing and future generations will pay a hefty price for the government’s financial bailouts, says Eric Roseman, investment director at The Sovereign Society.

Yes, the rescue of Bear Stearns (NYSE:BSC) in March, and Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) in July, averted a major short-term crisis. But the long-term costs of inflation and a worthless dollar will be more painful.

Eric says the value of paper currency will be worth nothing when the inflationary storm hits…

The two ways to play a correction…bargains, or traps for the unwary? The Butch and Sundance of the financial markets…the clumsy, backwards-walking economy. The whole world is slowing down…another farcical chapter in the history of the War on Terror…and more!