fascinating must read - The Death of Paper Money - By Ambrose Evans-Pritchard - As they prepare for holiday reading in Tuscany, City bankers are buying up rare copies of an obscure book on the mechanics of Weimar inflation published in 1974. - Telegraph.co.uk
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Americans Have A Serious Household Net Worth Problem - Gregory White and Kamelia Angelova - Clusterstock at Business Insider
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good charts - If Everything Is So Good, Why Am I Feeling So Bad? - By Jeff Harding - The markets behave as if everything is just fine. This week the S&P 500 was up 7.3% for the month (from 1027 to 1102), corporate earnings have been looking good, retail sales inched up last week, the CPI is low, interest rates are low, Dr. Bernanke is ready to pump money into the economy if things go awry, most European banks passed their stress test, and we’ve got a new financial markets regulation bill which will save us from economic collapse.  Yet most folks don’t believe things are getting any better. What’s wrong? – The Daily Capitalist

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Top 5 Economics Graphs of the Week - This week we look at UK GDP, Canada monetary policy and inflation, review some of the monetary policy decisions of the week just gone, and then assess some of the housing data on the US real estate market. - Econ Grapher

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Some Thoughts on Deflation - by John Mauldin - Thoughts from the Frontline Weekly Newsletter 

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must see slide show - Why China Is The Mother Of All Grey Swans - Gus Lubin - Vitaliy Katsenelson has updated his great presentation on the Chinese black swan with some new slides and a more accurate title (via My Investing Notebook/market folly).
The Chinese crash is actually a grey swan because it is a rare, significant, but predictable event.  Therefore investors have no excuse to get caught off guard. But with China on track for spurts of world-beating growth over the next two decades, capital will get sucked in and many get burned. - Money Game at Business Insider

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Deflation: Bad for Japan, but Brutal for the U.S.? - By VISHESH KUMAR - ...  The spoiler, though, may be the starkly different conditions of the U.S. and Japanese housing sectors. American households sport enormous debt burdens and have their assets concentrated in investments like stocks and housing. ... Japanese household assets are also held much more safely. - AOL DailyFinance

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Dad’s or Grandpa’s Recession? - Vedran Vuk - ... Graduates in 1982 and 1975 received a taste of modern-day unemployment. But kids today face a youth labor market closer resembling Grandma and Grandpa’s depression experience than Mom and Dad’s downturns.  There could be a ray of hope in all of this. ... - Casey's Daily Dispatch
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interesting - Economic Analysts Find Oil Spill Tanks Local Housing and Will Cost Thousands of Jobs - by CHRISTINE RICCIARDI - HousingWire
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Money Supply Divergence - TMS1 vs. TMS2 vs. M2 - What does it Mean? - Michael Shedlock - ... TMS stands for "True Money Supply". The suffix (1 or 2) stands for alternate measures, one including savings accounts and the other not. M2 is a widely used Fed aggregate for money.  This looks technical (and it is), but please bear with me. I can and will explain in easy to understand terms exactly what is happening and why, along with what it all means ... - MISH'S Global Economic Trend Analysis
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Benson’s Economic & Market Trends - Richard Benson - "Americans Are Getting A Lot Less But It's Costing Them More"