Wal-mart: Scenes from the economic front lines. They report that shoppers are using less credit and spikes of purchases occur around pay periods, including purchases of baby formula.
Fed offers $540bn to prop up money funds. This makes me a teensy bit nervous. Like, are they assuming more money market funds will break the buck?
42% of California Bay Area sales are foreclosures. The Bay Area was supposed to be the bright spot of California real estate too. Not any more.
Iceland gets $6 billion IMF-Led bailout
Pakistan needs $10 billion to avoid default
The LIBOR is dropping, and this is good. But…
But bear in mind that this just stops the credit markets from collapsing; the real economy is still rushing downhill.