Red ink flows…  Japan suggests diversification for their reserves…  Commodity currencies rebound…  Data galore for the rest of the week… And Now… Today’s Pfennig!

The investment outlook for Japan is pretty grim right now. The world’s No. 2 economy saw its gross domestic product (GDP) decline by 4% in the first quarter – the equivalent of 15.2% annualized decline, and the worst showing in more than 50 years.

World stocks climbed strongly on Monday for a fifth session running, lifted by hopes that the U.S. economic downturn may be bottoming out as investors sought to take advantage of cheaper equities.

China to grow 8%? An end for Mark-to-markets?  What will the ECB do today?  Gold at a discount…. And Now… Today’s Pfennig!

If you want a real look at what’s headed this way, ask Hideko Toyotomi.

Oh…we are such optimists!  So far, the Crash of ’09 has paralleled the Crash of ’29…and the Crash of 1873.

Gaza bombing has dollar on the run…  More proof we’re turning Japanese…  Adding to the debt burden…  What will deflation do for the dollar? And Now… Today’s Pfennig!

t’s official, for what it’s worth. Both Europe and Japan are in recession. The Eurozone contracted by 0.2% for the second straight quarter. Germany (the largest economy in Europe) and Italy (fourth largest) both shrank in the third quarter. Japan’s economy-the world’s second largest-shrank by almost half a percentage point in the third quarter.