How Industrial, MBA-Style Leadership Killed a Once Great Company – Forbes

Who Is Lying: The Federal Reserve Or… The Federal Reserve? – Zero Hedge

Is Capitalism Dead, or Simply Dying? – Mish

Chinese Local Governments Are Forcing Workers To Invest In Bubble Schemes – Clusterstock

“Ben Bernake fancies himself as a student of the Great Depression,” says renowned investment broker, global strategist, author, and Austrian economist Peter Schiff, “but… if he were my student he would have gotten an F.”

Brazil Central Bank Cuts Benchmark Rate From 9.75% To 9.00% – Zero Hedge

My Sister’s Pension Assets and Agency Problems – Jeremy Grantham

All Eyes on Spain – Doug Noland

Eurozone crisis roars back to savage Spain – The Telegraph

Investment analyst and entrepreneur Marc Faber spoke with FOX Business Network’s (FBN) Liz Claman about the health of the global economy saying ‘over the last few months, the market has acted very badly’, and predicted this is indicative of ‘the beginning of a downward trend’.

Bear in mind that the analysts have been cranking their numbers down. They started it off at north of a 110, then 105, they’re now 102. They’re moving in my direction.

But yeah I think that’s true because as you just mentioned you’ve got the foreign earnings that don’t look good because of the recession unfolding in Europe, a stronger dollar so there are translation losses, hard landing in China and the U.S. I think we could see a moderate recession led by consumer retrenchment, and I think that kind of earnings estimate is not unreasonable.

Chinese Inflation Heats Up On High Food Prices – Clusterstock

Caroline Baum on “Obama the Omniscient” – Mish