China: bigger, faster, stronger…the world’s up-and-comer does have some trouble on the way. More and more people competing for the world’s resources. The Chinese work their way up the ladder, as Americans work their way down…and more!

The war between the ‘flations drags on. Inflation has become globalized. In the United States, you are on the pot-holed highway to Hell…and more thoughts, insights and advice to take you into the weekend!

The papers have kept us in stitches today…a ‘Gas Tax Holiday’? Really? Waiting for the showdown between Hillary and Obama…the Fed has created bubble-like conditions in the commodities markets – but Kevin Kerr tells us all is not lost. Buffett tells it like it is…the art world’s big test…and more!

All eyes are on Ben Bernanke and the Federal Reserve today, the big question being: Will there be another Fed rate cut?

Just about everyone is predicting another rate cut, but will this rate cut be the last for a while?

CNN says “trading in futures markets predicts the Fed will cut its key fed funds overnight lending target by a quarter-point, to 2%, and hold the line there in coming months.”

The Wall St boom is over but it is an open question whether painful adjustments will be made by inflation or deflation.

Back in October – when gold was trading at only $770 an ounce – I told Money Morning readers that the “yellow metal” was looking like a very good bet

The Japanese yen gained 1.6% versus the dollar yesterday and the Singapore dollar was up 1.5%. Both currencies rallied as hedge funds and other highly leveraged traders scrambled to reduce debts.

This week we heard two ex-Fed Chairmen weigh in on the credit crisis – one of them a giant; the other a pygmy. Paul Volcker, the first of the two, is a giant in both the literal and figurative sense. By way of the yard stick, Mr. Volcker stands 6 feet 8. He stands even taller in terms of reputation. If ever there existed a Fed head willing to “take away the punch bowl,” it was he.