In the News Today

1. Inflation Jumps in UK- NYTimes
http://www.nytimes.com/2011/01/19/business/global/19pound.html?_r=1&partner=rss&emc=rss

2. EUR Jumps on German Confidence Numbers-Reuters

http://www.reuters.com/article/idUSTRE70D1FB20110118?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29

3. Debt Ultimately moves the gold market right now were seeing short term profit-taking 


U.S. debt tops $14 trillion, nears ceiling Washington Post Monday, January 17, 2011


http://www.washingtonpost.com/wp-dyn/content/article/2011/01/16/AR2011011604005.html


4. Central Bank steps up its cash support to Irish banks financed by institution printing own money

Emergency loan programme of €51bn isBy Donal O’Donovan
Saturday January 15 2011

EMERGENCY lending from the ECB to banks in Ireland fell in December, the first decline since January 2010, but only because the Irish Central Bank stepped up its help to banks.

http://www.independent.ie/business/irish/central-bank-steps-up-its-cash-support-to-irish-banks-financed-by-institution-printing-own-money-2497212.html

5.States Warned of $2 Trillion Pensions Shortfall

Tuesday, 18 Jan 2011 | 4:51 AM ET
By: Nicole Bullock, Financial Times

US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund.

The severe US economic recession has cast a spotlight on years of fiscal mismanagement, including chronic underfunding of retirement promises.

http://www.cnbc.com/id/41129099

6.Camden, NJ braces for deep police, fire cuts

Camden, NJ, poor and crime-ridden, braces for deep cuts, slashing of police, fire staffsGeoff Mulvihill, Associated Press, On Sunday January 16, 2011, 4:21 pm EST

CAMDEN, N.J. (AP) — Yet another crisis is upon this burdened city, among the most impoverished and crime-ridden in the country.

Deep layoffs of city workers go into effect on Tuesday — cutting up to 383 jobs, or one-fourth of the city’s employees.
http://finance.yahoo.com/news/Camden-NJ-braces-for-deep-apf-1702037661.html?x=0&sec=topStories&pos=2&asset=&ccode=