Articles on the structural impasse facing the global economy, the results of the UK bank bailout three years on, taking the protestors seriously, an alternative view of the threat to America from its fiscal position, the drama around Putin’s plan to govern until he is 72, and political cleavage.

Doug Noland of the Prudent Bear’s case that debt addicted economies with inflated asset prices have distorted structure of the economy so massively that the conceit of central bankers that printing money will solve the problem is completely and totally wrong. (ed’s note – scroll down about halfway).

Prudent Bear – Tuesday
Tuesday morning was the type of market moment that leaves a sick feeling. 

The British bank bailout has not been a good investment nor has it done anything to encourage lending.

Spectator – Our Bailout Nightmare
Three years on from the Great Bonus Bailout, where is the UK taxpayer standing on their investment in the UK banks?

Where’s all the free food coming from?

Bloomberg -- Wall Street, Heal Thyself
The smartest way for bankers to defuse their critics is to listen to them.

A careful and very well written argument refuting the claim that the United States is about to slam into a deficit wall and an indictment of the triple threat to the proper functioning of American democracy, the war, health and finance lobbies and their piles of campaign money.

Pdf below -- A World Upside Down?

Putin’s plan may not pan out.

New York Review of Books – Putin’s Risky Course
As Russian Prime Minister Vladimir Putin celebrates his 59th birthday today, it is arguably an especially happy occasion for him.

And a reminder of how immature we are.

Edmonton Journal -- Simons: Neckline nonsense just sexual politics
I have breasts.