Noteworthy

We share some amusing and illuminating news and links sent to us by readers. When known, we do our best to credit the source.

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Survivalists will especially enjoy facets of this first link, which is recommended reading for anyone who wonders what it might be like when the economic "SHTF", as told from the first-person perspective of someone who lived through it in Argentina. Courtesy of Whiskey & Gunpowder.

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"Bernake : Why are we still listening to this guy?"

Who's "we"? Anyone being wrong half as often as this man would have been fired ignominously long ago. To be fair, it's arguably an important part of his job to lie. At least it sounds to us as if he's lying. We mean that as a sincere compliment to the good Doctor, for to suggest he is not lying is to state that he is woefully incompetent and even stupid.



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The truly puzzling life of Chrysler's deputy CEO. How could a millionaire top executive with a chrome-plated reputation get in such financial trouble? The mysterious case of Jim Press.

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Yet another "surprise". NY Governor: Tax the Rich Failing Badly

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Witney Tilson: Housing Recovery a Costly Mirage

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South Florida condominium prices already have dropped up to 88 percent from their 2006 peak, and the meltdown isn't over yet.

So says real estate consultant Jack McCabe, who has earned the reputation as South Florida's top residential real estate analyst.

He told Bloomberg that condos which sold for $1,000 per square foot in 2006 now command prices of only $125 to $350.

And he says prices could ultimately drop to $100 a foot, less than half the condos' construction costs and a level last seen 20 years ago.

"If you're thinking you can come here and buy and sell condos for a profit in less than five years, you're sadly mistaken," McCabe, whose clients have included Credit Suisse and Pulte Homes, told Bloomberg.

Newsmax

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Auditors find rampant fraud with first-time home-buyer tax credit

A preschool purchaser was just one instance out of thousands of cases of fraud uncovered by investigators looking at how the IRS has handled the tax credit, which is set to expire Nov. 30 but which many believe Congress will extend before then. More than 90,000 out of about 1.4 million returns on which the credit was claimed looked bogus, investigators said.

Marketwatch

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