What’s the best way to get through a debt crisis? Straight through was our advice last week. For at least a thousand years, the business cycle went round and round without help from central bankers or economists. It is only since these geniuses have been on the case that really serious problems have arisen.

As California goes, so will the US. It is our strong suspicion here at Notes that California’s fiscal crisis (what is really a profligate spending crisis) is but a prelude to the coming national debt crisis.

Ten years ago, Asian equities paid pitifully low dividends following the bull market in the late 1990s. But that’s all starting to change as many markets in the region now offer higher dividend payouts than the S&P 500 and many European equity markets…

Around these parts, no one can touch Bill Bonner when it comes to taking down New York Times columnist Tom Friedman.  But Friedman’s latest is too much for me to resist.

Jim Sinclair of jsmineset.com had a link to the essay “Before Saving the US” at ChinaStakes.com, written by a guy named Xiang Songzuo, which starts out, “The nature of the current global financial crisis is the biggest debt crisis in America’s history”, which is certainly not news.

The dollar’s decline against the Euro and other major currencies has dominated the financial news. In the past two years the Euro has gained about 25 percent against the dollar and the Wan about 18 percent since 2005.

Ever since Robert Rubin began the tradition in the mid-1990s, it has been a significant element of the Treasury Secretary’s job description to continuously state that a strong dollar is in the national interest.

So, without further ado, let’s jump into the problem with the Euro. Back in May 2007, we wrote a piece entitled “Part 2-So What Should We Worry About“.

So far, the Fed’s magic is working: Sub-prime is leaving primetime.

Each year, as dependable as the arrival of spring, the fear mongers at the IRS launch into their annual campaign to scare the American public.