Kevin Kersten
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With the entire European continent rippling from the possible side effects of Greece going bankrupt after borrowing too much money, President Obama just signed legislation to lift America's debt limit from $12.4 to $14.3 trillion -- but don't worry, we have included a provision to be responsible now.

For those of you who have trouble will all those zeros, that 14.3 trillion limit ($14,300,000,000) divided between each of the 308.5 million (308,500,000) of us is only $46,353.32 each.

Mastercard (MA) reported that consumer spending rose 3.6% in January, showing consumers were spending modestly.

It's interesting, the focus that there is on consumer spending in America. Consumer spending is looked at as a holy grail of pushing the economy forward. Stimulus checks and cash-for-clunkers programs are a few of the recent programs that have highlighted this thinking. Ultimately, though it is investments in capital goods and services that have a profound effect on the long-term productivity and welfare of a people.

Jobless claims are big news in the financial markets and can cause the stock market to move; politicians to scurry looking for new programs and claim to be able to create or "save" a certain number of jobs.

Just this week the Labor Department reported January unemployment dropped to 9.7%.

While we wait for details on the president's plan to break up the banks, I wonder why the banks can't decide to break themselves up?

Wouldn't it be so much better to break up themselves than wait for President Obama to do it for them? Investment banks specialize in mergers and acquisitions and the converse spin-offs. Mergers and acquisitions are big business for Wall Street and they happen all the time. In fact, that's how many of the banks got so big.

Many of us seem to be able to spend money very quickly. We like to get out the credit cards and head to the mall. Financially, this is about as healthy for us as eating an entire gallon of Ben & Jerry's ice cream.

Contrary to what most people think it is not necessary to eat every day and good portion of the world fasts on a regular basis. In fasting people abstain from eating solid food and drink only water or juice for a period of time. Some religious and health advocates recommend regular fasting for daylight hours, one day, three days or even up to weeks at a time. Contrary to what you might think you will survive and you will not be as hungry as you think...

Across the pond, Eurostat announced Eurozone Unemployment hit 10% in November 2009 matching the rate reported for the U.S. in November 2009.

This pushes Europe into double digit unemployment.

With a total statutory debt limit of $12.1 trillion ($12,100,000,000,000) and the U.S. population at 304 million (304,000,000), the debt per American is $39,800.

Pigs at the Minnesota state fair have tested positive for the H1N1 "swine" flu virus in preliminary tests.

Confirmation tests are pending, but this could be bad news and cause panic within the pork industry. Pork belly futures and companies like Smithfield Foods (NYSE: SFD), Tyson (NYSE: TSN), and Hormel (NYSE: HRL) are a few that could be affected.