The Abandonment of America’s Cities

The tent cities in Sacramento, Calif., which we described recently, and the increasing number of shanty towns detailed in The New York Times today, are only part of the crisis in America’s cities. As we’ve written, vacant and abandoned foreclosed homes in some communities have become a More…

Citigroup a ‘Black Hole’ that Requires Nationalization

A year ago, blogger Michael Shedlock pronounced Citigroup insolvent. No one paid much attention then, but Shedlock never wavered.

Now the U.S. government is in talks to significantly expand its ownership of Citi, the Wall Street Journal reports. And Shedlock, who writes the widely read Mish’s Global Economic More…