A very interesting video from Bill Still, discussing the national debt of the US and looking into the use of money and debt in history to explain the operation of central banks and their relationship to debt. Possibly the best explanation I have ever seen for not advocating gold as a solution to currency. Join discussion...

A good read on history during the 3rd century in Rome. The author goes to show how history rhymes. Join discussion...

More on China’s Faux GDP Data Join discussion...

"...some studies have indicated that prostitution increases during downturns, but that gambling declines. But what about smoking?" - Gambling declines? I thought it was quite stable in a downturn? Join discussion...

Article discusses some parallels with the Great Depression and today. Quite interesting. Join discussion...

Non-farm payrolls fell more than expected, down -263k in September. Unemployment rose to 9.8% but would have been worse if not for a drop in the participation rate whilst the preliminary benchmark revision shows a further reduction in the number of jobs lost of more the -800k. U6 unemployment rose to 17% whilst the number of workers unemployed for 6 months or more rose to a new record of 35.6% All round a very ugly report that is likely to put a dint in the v-shaped recovery scenario of the optimists. Join discussion...

"...more than $82 million of the first round of the Federal Government's stimulus payments went to people living abroad." Join discussion...

Chart that shows the P/E ratios of the S&P 500 back all the way to the year 1880. Notice that ratios < 20 were somewhat rare until the 2000's. Join discussion...

This talks about the Gaussian formula that crashed Wall Street. Condemned by Nassim Nicholas Taleb in his Black Swan book. Join discussion...

A 'waves of recession' diagram from the UK audit office. Interesting. Join discussion...