China creeps toward a crisis

China's leaders have turned an economic problem -- rising inflation that is projected to go from 5.4% in March to 6% in April -- into a political problem. They now face increasing protests over higher prices for everything from cooking oil to diesel fuel.

http://money.msn.com/investing/china-creeps-toward-a-crisis-jubak.aspx

China should cap forex reserves at 1.3 trillion U.S. dollars: China banker

China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.

China's foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.

http://news.xinhuanet.com/english2010/china/2011-04/23/c_13842843.htm

The Best and Worst Run States In America: A Survey of All Fifty

How well run are America’s fifty states? 24/7 Wall St. has taken several months to consider that question. Our writers looked at hundreds of data sets ranging from debt rating agency reports to violent crime rates, unemployment trends and median income. Of those, we chose what we considered to be the 10 most important ranking of financial and overall government management. The best run state is Wyoming. The Worst is Kentucky. The standing of each is supported by their ranking in the data sets we considered, as are the rankings of all fifty states.

http://247wallst.com/2010/10/04/the-best-and-worst-run-states-in-america-a-survey-of-all-fifty/

$6 Gas? Could Happen if Dollar Keeps Getting Weaker

A dollar plumbing three-year lows is hitting Americans squarely in the gas tank, and one economist thinks it could drive prices as high as $6 a gallon or more by summertime under the right conditions.

With the greenback coming under increased pressure from Federal Reserve policies and investor appetite for more risk, there seems little direction but up for commodity prices, in particular energy and metals.

Weakness in the US currency feeds upward pressure on commodities, which are priced in dollars and thus come at a discount on the foreign markets.

http://www.cnbc.com/id/42683030

A Frightening Satellite Tour Of America's Foreclosure Wastelands

RealtyTrac is out with the total foreclosure numbers for 2010. On the whole things are getting worse.

72 percent of major metro areas saw an increase in foreclosure volume. Although some of the worst hit areas in Nevada, California and Florida improved from 2009, the foreclosure rate in these areas remains shockingly high. If not for some foreclosure suspensions due to the robosigning scandal, these numbers would have been higher.

For a frightening way to visualize the foreclosure crisis,
http://www.businessinsider.com/satellite-tour-foreclosure-cities-2011-1?op=1

US government’s fiscal plight, the numbers say it all

As the Republican and Democratic leadership in Washington suit up for the battle that will be the 2012 budget, a battle that will have a lot to say about the fiscal fate of the U.S. government, we here at THE CONTRARIAN TAKE will be watching like a hawk.

http://blogs.forbes.com/michaelpollaro/2011/04/22/us-governments-fiscal-plight-the-numbers-say-it-all/