Mike "Mish" Shedlock is the author of one the most popular financial blogs on the Internet with over a million views a month. He is one of those who called the bear market and talked about all of the warnings signs in 2007 before it hit.

He gave a talk at Google where he talked about his views on the economy and blogging.

The Federal Reserve announced a $1.2 trillion dollar plan several months ago to artificially lower interest rates to try to force a bottom in housing prices.

But it hasn't happened. Housing prices have continued to decline and now interest rates for mortgages and US Treasury bonds are rising - going the opposite direction intended by the Fed.

Miner Rio Tinto backed out of a $19.5 billion deal today with China's Chinalco according to an associated press report.

Tinto is going to take the money and use it to increase its stake in BHP Billiton.

In this second clip from Jim Rogers on CNBC yesterday Rogers talks with a pure bond salesman. The stupditiy of Wall Street sale robots is amazing. Watching this makes on wonder if he knows anything about basic stock trading strategies or anything that he is talking about.

Yesterday on CNBC famed stock trader Jim Rogers recommended hard assets and gold. He fears a currency collapse in the value of the US dollar or British pound. He is afraid to short US stocks now, because believes a hyperinflation nightmare could make the stock market skyrocket in comparison to worthless dollars.

The commerce department reported today that the unemployment rate hit 9.4% in May, with bosses laying off 345,000 jobs.

A total of 14.5 million were unemployed last month.

Treasury Secretary Tim Geithner personally got caught up in the housing bubble. Geithner paid $1.602 million for a home in a tony Ne York City suburb in 2004. The house is about 3,300 square feet.

While Ben Bernanke testified to Congress today amid a glow of praise from CNBC and most of the politicians in attendance who tossed him softball questions, the President of Germany declared that the central banks are printing so much money that they are ge

Today in an article posted on his website Bill Gross says that US investors should begin to diversify out of dollars before central banks do so - something he sees happening a few years down the road.

Timothy Geithner has been in China the past week trying to shore up confidence in the US dollar with key figures in the Chinese government.

While he has been over CNBC and the mainstream financial press has been fawning over him. But in their reporting they have been blacking out the many critical remarks coming from the Chinese press and events that just plain make him look silly.