“Contract with America” Redux?

Jobless Jump. New Claims Rise; Last Week’s Numbers Revised Slightly Downward(CNBC)


China, Japan Trawler Captain Fracas Escalates Toward Trade War? (New York Times) Prime Minister Wen Jiabao personally requests release of detained captain as tensions rise. (China’s weapon of choice: restriction of exports on sci-fi-sounding rare earth elements.)

“Contract with America” Redux? (Financial Times)Republican Lawmakers Promise Lower Taxes And Spending with “Pledge to America”

Blockbuster Files (New York Times) After a Chapter 11 filing, Blockbuster has reached an agreement with senior bondholders to cut debt by 90%; promises transformation with recapitalized balance sheet. But can it compete with Netflix, Apple, and Redbox?

Gold Near Record High(Yahoo) Analysts unsurprisingly cite QE as causal factor.