Sunday Links

EMU Collapse

• "European Council President Herman Van Rompuy has convened an emergency meeting of top EU officials for Monday morning..."
• ZH: "European Rescue Fund Insufficient To Rescue Italy, May Be Doubled To Over $2 Trillion" also "Italy May Enforce Naked Short Selling Ban As Early As Tonight To Prevent Market Rout".

U.S. Greater Depression, Part II

• Evidence that the U.S. will not experience graceful degradation: making it illegal to grow vegetables in your front yard.
• Barron's: "Or are we back to construing bad news as good, because that means Fed Chairman Bernanke is coming to the rescue? Well, the chatter about the likelihood of a QE3 asset-purchase program by the Fed did rise predictably after the data hit."
• Temp jobs have been down for three straight months. Real GDP growth about to signal a recession.
• Hussman: "On a technical basis, the recent low-volume bounce in stocks looks a great deal like a short-squeeze, and though we don't use chart patterns in our work, market action this year can't escape the appearance of a broad head-and-shoulders top where the right shoulder has just been put in."

Misc

• Profile of Andy Beal.
• I've been saying that the MBA degree has been thoroughly discredited, although public awareness hasn't caught up yet. 
• Stop the insanity. Momentum stocks that go up for no reason.