Elizabeth Warren on the collapse of the middle class in June, 2007 (long but worth it)

In the News This Week

• Subprime Delinquencies Accelerating
• U.S. Initial Jobless Claims Rose 16,000 to 317,000 (higher than expected)
• Analysts Predict Even Larger Losses for Countrywide Financial (up to 4B$ in write downs)
• Washington Mutual Sees Profit Down 75%
• Merrill Lynch to Post 3Q Loss Up to 50 Cents Per Share After Taking $5 Billion in Writedowns
• August Factory Orders in U.S. Fall More Than Forecast
• China Enjoys Ben-Carry Trade Thanks to Bernanke
• Oh, and to be fair The Dow Made a Record High Monday
• Then, The S&P Hit an All-Time High of 1,561.91 Friday

Pay no attention to the economy behind the curtains, helicopter Ben will save us!

More from the Alien: Consumer borrowing up sharply in August

and that quite frankly is so freaking nutso, that we aliens are thinking to leave this particular Solar System.