Zero Hedge | Pento also goes into explaining why housing is facing a “deflationary depression,” and a further collapse in pricing, why inflation benefits only those closest to the money, i.e., the banks and the military complex.

National Inflation Association | The pain that was felt after the collapse of Lehman Brothers is nothing compared to the pain that will come when we begin to feel the effects of bailing out the rest of Wall Street.

Bloomberg | U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.

Gonzalo Lira | The United States will have a fiscal-debt-to-GDP ratio of 100% this year, and 110% next year — if not higher.

Zero Hedge | China will be ecstatic that the US will now be funding the development of its own middle class. As for ours… Oh well.

Zero Hedge | When you get too many people of a particular mindset (in this case highly quantitative and academic) to aggregate in a field that is very much a people business and one where “street smart” common sense is of extreme importance you are asking for serious trouble.

New American | Congressman Ron Paul revealed that next year at the start of the newly inaugurated 112th United States Congress, he would introduce a new bill to audit the U.S. gold reserves.

New York Daily News | Mayor Bloomberg flew up to Martha’s Vineyard after this morning’s regular radio appearance to play a round of golf and talk about the economy with President Obama.

Mike Whitney | No one wants to fix the problem, because then the big players would lose boatloads of money.

Oil Price | It looks like the smart money these days is found in China.

Human World Order | The controllers are orchestrating the collapse of the American economy and society right now, albeit in slow motion, but it is already crumbling.

Mish’s Global Economic Trend Analysis | Signs of weak consumer discretionary spending are popping up in multiple places.

The Economic Collapse | Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon.

Damien Hoffman | This, my friends, is only the tip of the iceberg of what will unfold should we choose to kick the proverbial can farther down the road.

CNBC | Stocks opened lower for a fifth straight day Wednesday as disappointing reports on new home sales and durable-goods orders stoked worries about the economic recovery.

Investors.com | The number of subscribers to cable, satellite and telecom TV services in the U.S. fell for the first time ever in the second quarter.

Wall Street Journal | U.S. home sales plummeted in July to a level not seen in more than a decade, spurring fears of renewed weakness in housing prices and the broader economy.

CNBC | The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Reuters | The top Republican in the U.S. House of Representatives called on Tuesday for President Barack Obama to fire his economic team in a campaign-style speech meant to focus voters on the weak American economy.

NY Times | Sales of existing homes plunged 27.2 percent in July, down to their lowest level since the National Association of Realtors began keeping track over a decade ago.

The Hill | UCubed, a group representing unemployed and underemployed workers, sharply criticized Treasury Secretary Timothy Geithner for his handling of the economy.

Dr. Ron Paul | There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news.

Jim Williams | Should the world economy grow more quickly, only the Saudis have the ability to increase production enough to meet demand and influence prices.

Rebel Traders | The reality of the ‘real economy’, as measured by people, not Wall Street, is a deteriorating economy where any source of funds is fair game to be tapped into.

Telegraph | Parts of Britain could become retirement ghettos within a generation with three retired people for every four in work, a report warns.

Robert Murphy | The first thing to realize is that the Fed can control the size of the monetary base, but it can’t directly control its composition.

Louis James | My New York adventures are signs of an approaching gold mania, not a present one. But I believe more firmly than ever that it’s coming.

Zero Hedge | Any further increases in new claims would suggest that the labor market has in fact deteriorated further.

Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Bloomberg | Schwarzenegger directed state workers to take three unpaid days off each month to save cash.

Reuters | New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Claus Vogt | My outlook for the economy and the stock market has steadily and significantly deteriorated since March 2010.

Bloomberg | Globalization is pitting the Wangs in China or Gandhis in India against the Smiths in the U.S. or Gonzalezes in Spain.

Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits may have another think coming.

New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Peter Schiff | In a commentary about a month ago, I described how the economic world seemed to be drifting into two opposing camps: the Washington-based “Stimulators,” and Berlin-and-London-based “Austerians.”

Wall Street Journal | Says there is a greater than 50-50 chance and that the recession may not have ended last year at all.

Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Bob Livingston | There is no end to the folly that the de-stimulating stimulus bill has wrought.

The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Wall Street Journal | U.S. stocks sank as weaker-than-expected Chinese trade data added to investors’ jitters ahead of a Federal Reserve meeting.