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		August 1 - August 14, 2008 Holiday Weekend (August 30-September 1, 2008) Oil drops after Gustav makes impact CNN Gustav Will Inflict `Significantly Smaller' Losses Than Katrina, RMS Says BL Key U.S. Data Releases and Events Global Insight Week Ahead Merk Banks shift funds out of U.S. to Europe: BIS Reuters BIS Quarterly Review, Sept 2008 No need to fight Russia - just harness an alternative to oil Ambrose Evans-Pritchard The four horsemen of the market MW Heed the sobering investment advice of these veteran money managers Who Holds the Old Maid? Mauldin Wyss Sees Recession Returning in 4Q08 Bloomberg Video Shallow Recessions, Shallow Recoveries NYT (Norris) Hey, Big Number, Make Room for the Rest of Us NYT G7 on Edge of Recession BMO Focus PDF Ponzi Finance Dynamics Still at Play Noland Let's Get Real about Real Estate Schiff Harding - Mogambo - Ash - Kass Consumers: Hanging on by a thread CNN Back to the ‘Thirties with a Twist VOX Why the United States will Face a Decade of Economic Stagnation Dr. HB The Message from Jackson Hole Berner Wall Street enters month of peril with outlook clouded AFP Muni Bonds - No-Tell Habits NYT (Morgenson) Municipal bonds are considered a safe bet, but their risks are ill-disclosed. Bush Says U.S. Economy `Starting to Improve' After $168 Billion Stimulus BL U.S. Financial Data, August 29 Issue FRBSL Alpharetta-based Integrity bank fails AJC FDIC Latest FDIC Report Reads Like a Horror Novel Larson You, Me, and the FDIC North Gustav's possible economic hit is widespread AP `Dangerous' Gustav May Hit Platforms, Refineries Harder Than Katrina B New Orleans Ordered Evacuated As 'Mother of All Storms' Nears WSJ U.S. Oil, Gas Producers, Pipelines Brace for Gustav BL Gustav: What's at stake CNN Lehman Brothers in urgent talks on capital injection Telegraph Iraq Safer Than Ohio Banks Stung by Credit Crisis BL Lenders canceling home equity lines Sun Sentinel Lenders face huge hit on mortgage fraud Times Online Britain’s lenders may be sitting on hundreds of millions of pounds of worthless loans fraudulently obtained by criminals... ABCP delays 'a concern,' Flaherty says G&M Warnings Sounded Over Financial Instability Chosun Japan's Regional Banks Dodge Subprime, Face Bad-Loans BL You Cannot Afford a $350,000 Home with a $75,000 Household Income! MyBudget360 Gold Futures Have Biggest Monthly Drop Since April 2004 on Dollar's Rally BL Big jump in gold sale spurs manipulation debate MW World's Largest Gold Refiner Runs Out of Krugerrands BL France issues gold, silver coins of high face value Xinhua Gold makes glittering comeback India Times Commodities warm despite 'correction' Australian Surge in Natural Gas Cars Has Utah Driving Cheaply NYT Like oil, speculators and water an uneasy mix Reuters Commerzbank Leapfrogs Deutsche Bank in Germany With Dresdner Acquisition BL $20 billion in tax breaks for fat cats MSN Beware the hidden connectivity of your assets G&M Renowned 'San Juan Star' newspaper folds after 49 years AP Billionaires' yacht rivalry spills into courtroom Reuters Is History Siding With Obama’s Economic Plan? NYT Stein Interest rates should come down but the damage to growth has been done King Home Prices in U.K. Decline Most Since 2001 Downturn as Economy Stagnates BL Darling warns slump could be the worst for 60 years Times Online Guardian Inteview The U.K. Economy: Look Out Below! BCA Research We're still in early days of housing grief Observer Bonds can pay off, but not if there's a top-10 bank crash Observer Shanghai's World Financial Center may prove to be a white elephant Telegraph Warning signs from the centre of the boom Globe & Mail There is growing evidence that China's boom is beginning to cool. What happens next will be a major test, not just for Beijing, but for the global economy Equity funds hit by crash China Daily Flops weigh on IPO sentiment Standard China slowdown fuels tougher race for carmakers Reuters China looks to Japan's past for clues to future Reuters Chinese official says no need to speed renminbi rise Reuters China Overheating Indicator DB Research PDF Analysts puzzled as Gulf markets tank National Malaysia Puts Ratings at Risk Amid Political Battles, Ballooning Deficit BL Protesters force shutdown of India's cheap car plant AFP Dollar Posts Biggest Monthly Gain Since Euro Debut in 1999 as Crude Drops BL Weekly Trends Scotia Week In Review NTrust Weekly Focus Dankse PDFs Friday August 29, 2008 Major indexes tally daily and weekly losses, but gain for month of August MW Consumer sentiment improves in August MW Consumer Spending in U.S. Slowed in July as Prices Rose Most in 17 Years BL Bernanke, Aiming to Curtail Market Risks, Met NYSE, CME Chiefs BL Q2 GDP Is History, Focus Should Be on the Future Northern Trust PDF U.S. economic bounce called fleeting G&M What is the Real Housing Decline? Comstock September: The horror story Hulbert Slowing economy curbs garbage USAT “Garbage typically hasn't been called an economic indicator, but we firmly believe it is” Monthly FX Outlook CIBC PDF ‘Committee to Save the Dollar' May Not Be Needed Pesek The Coming Deflation Scare Saville Central banks need a Basel lll Asia Times The Four Deficits Washington Times U.S. Financial Data, August 28 Issue FRBSL Loan rangers Economist Will private equity ride to banks’ rescue? Bank of China flees Fannie-Freddie FT New York housing shines - for now Fortune Unthinkable Happens: Manhattan Apartment Prices Fall NY Sun Woodside Homes forced into bankruptcy Arizona Republic Homebuyers squeeze desperate sellers CNN Should Biden Share Blame for Foreclosure Crisis? ABC Real Homes of Genius: Foreclosing to the Bottom Dr. HB Canadaian banks may soon put subprime behind them FP What's a Central Bank to Do? Levy Policy Response to the Current Crisis Dell bleeds from its price cuts Fortune Delphi liquidation looms large: report Reuters GM execs say they hope to return to profit in 2010 AP Michelin scraps Mexico plant plan due slowdown Reuters Why Fannie & Freddie May Be Hiding in Your Portfolio CNBC Worker Assets Shrink at Fannie and Freddie NYT Fannie Mae’s workers had $116 million in the employee stock ownership plan at the end of 2006. Today, it’s more like $17.5 million Lehman Brothers plans to lay off 1,500 Reuters One shortage in the solar-panel business gives way to another Economist Big Shift in Accounting Rules Nears Business Week All of the big accounting firms quickly came out in favor of the SEC's road map... American securities regulators vote to ditch their own accounting standards Economist Coke's New Design Direction Business Week Oil Rises on Fears Gustav Will Hit Gulf AP Gustav Doesn't Hit Oil -- for Now WSJ Oil-Rig Insurers Brace for Biggest Test Since Katrina, Rita Stormed Gulf BL Oil Firms Take Precautionary Measures as Storm Strengthens GI US Refinery Operations Status Dow Jones European Economic Confidence Drops More Than Forecast as Recession Looms BL Japan's Inflation Rate Exceeds 2% for First Time in a Decade on Food, Fuel BL Japan's Unemployment Rate Falls to 4%, Job Prospects Worsen BL Japan to unveil 10 trillion yen stimulus plan MW China: No Time for Complacency Asia Sentinel Warning: Cut rates or job losses will soar Independent Unemployment set to hit 2m and house prices will fall 30%, Bank of England expert predicts Retailers suffer worst month in quarter of a century Independent Spain May Suffer From ECB Lending Curbs on Collateral as Expansion Falters BL India's Economy Grows 7.9%, Slowest Pace Since 2004 BL 50 Percent Market Capitalisation Wiped Out A Pakistan News Russia may cut off oil flow to the West Ambrose Evans-Pritchard Putin accuses U.S. of provoking Georgia crisis Reuters Iraq's port city shows signs of an economic comeback CS Monitor Rat meat in demand as inflation bites Reuters Thursday August 28, 2008 Big rally on Wall Street CNN Sick of the 'R' word CNN Spring's economic rebound unlikely to last AP Lagging Incomes Signal U.S. Economy Is Weaker Than Growth Report Suggests BL U.S. Economy Grew Faster Than Estimated in Second Quarter on Export Gains BL BEA Survey: US Workers' Confidence in Job Market Sags AP Weekly JClaims MBIA Advances After Agreeing to Reinsure $184 Billion of Municipal Bonds BL US, Europe, Japan drew up dollar rescue plan in March: report AFP In the Fullness of Time PIMCO (McCulley) Real interest rates send danger signal Brimelow The economic growth mirage CNN Sure, the economy grew at a decent clip in the second quarter. But economists say the gain may be temporary and warn of tougher times ahead. Bankruptcy filings surge to 1 million - up 29% CNN Moody's Reviewing All 2006, 2007 Jumbo Mortgage Bonds BL Credit crunch: 'It's just the end of the beginning' Independent SEC Chairman on Fannie, Freddie CNBC Calling Hank Paulson WSJ Top Five Sectors Getting Hit by the Credit Crunch WSJ Blog Corporate America taking longer to collect: study Reuters Fire Sale: California home prices now 40% below year-ago levels LA Times Housing Chartbook: August 2008 Wachovia PDF A Perspective on Home Prices NTrust PDF U.S. House Prices: No Bottom In Sight BCA Research A Wake-Up Call on Home Equity Loans WP Credit Agricole tops France's crunch casualties Times French wine sales plummet in credit crunch Telegraph Sears' 2Q Profit Drops 62 Percent AP Detroit Readies Push for Government Loans Dow Jones Toyota cuts sales forecast as demand sputters Reuters SEC May Allow U.S. Companies to Switch to International Accounting Rules BL A proudly American shoe company ships jobs to China CS Monitor The Fall and Rise of Frank Quattrone BL Lehman apologises for plagiarising research FTA Cuomo To Probe Fidelity, Goldman On Securities AP Wachovia Corporation Swamped by Put Volume Schaeffers Diageo expects 'challenges' ahead BBC Brown-Forman profit lower than expected Reuters Ain't no wind in T. Boone Pickens' sails Salon Russian Roulette NYP Oil Rises Toward $120 as Gustav Threatens US Gulf Reuters Buy Gold UBS The Bull is Still in Charge Aden Sisters Nadler Best Farm Economy Since 1970s Comes With Increasing Fuel, Fertilizer Risks BL Bread and butter hit the headlines DB Research Quebec's water is 'blue-gold,' says think-tank Financial Post Good Golly, the Price of Moly! Global Insight U.K. House Prices Drop Most Since 1990, Retail Sales Plunge to 25-Year Low BL Britain 'faces full-year fall in GDP' Times Online S&P warns that UK most at risk of recession in Europe Guardian Pakistan Exchange Imposes Floor on Stock Prices to Stop Plunging Equities B KSE Middle-class areas lead the debt league ThisisMoney Spanish budget deficit widens as economy slows Reuters Days of Rage in Streets Start Derailing Asia Pesek Economy to face challenges China Daily Equity funds in China still under pressure Asian Investor $660m fund misused or embezzled China Daily Suda Says BOJ Shouldn't Be Complacent About Inflation BL Thai central bank hikes interest rate to 3.75 pct AFP China, Iraq Reach $3 Billion Oil Service Deal AP Wednesday August 27, 2008 Fannie Mae unveils executive shakeup MW Fannie, Freddie Sell $3 Billion of Debt, Suggesting Rescue Isn't Imminent BL No GSE Announcement on Wednesday: U.S. Treasury Reuters Durable-Goods Orders in U.S. Unexpectedly Climbed 1.3% in July on Exports BL Census Here we go again? Bear’s Lair Dollar Will Lose up to 40% Long Term CNBC Video Paulson's `Bazooka' Turned Out to Be Pea Shooter Baum ECRI's Weekly Leading Index: No Business Cycle Upturn in Sight Big Picture How much banking does America need? Reuters (Saft) Few will argue with the idea that the U.S. financial services industry is shrinking; the big question is whether the credit crisis marks a cyclical downturn or a long-term change. Running Out of Money, Cities Are Debating the Privatization of Public Infrastructure NYT Alabama County Prepares for Bankruptcy in Debt Crisis BL Census - Uninsured down, poverty up Stateline Our Inequality of Outcomes Pearlstein Healthcare, not boomers, will bust us Money Magazine Volcker-Reagan Rerun IIE PDF Credit-Card Rage Business Week The next credit crunch Fortune Problem bank list keeps growing CNN FDIC FDIC may borrow money from Treasury: report Reuters Credit Spreads Continue to Get Worse Bespoke New Credit Hurdle Looms for Banks WSJ (Complete via google jump) The crunch will begin next month, when some $95 billion in floating-rate notes mature. S&P makes sure Freddie doesn’t feel left out, cuts ratings in line with Fannie FTA Fannie, Freddie Post Biggest Profits on Mortgages Since 1998 BL One in Four Junk Issues in Distress CFO Year to date, the distress ratio has expanded nearly 19 percent from last December's level. Pimco Seeks as Much as $5 Billion to Buy Distressed Senior Debt BL "The swelling tide of toxic home loans is proving to be even more worrisome than initially feared" Baker Another Japanese property developer bites the dust AFP Taxpayers face soaring Rock bill Times Online Mortgage applications up 1st time in 3 weeks: report Reuters Large Homebuilder May Be Near Bankruptcy TheStreet Time to Buy Homebuilder Stocks? Kiplinger Home sales in state soar as prices plunge SF Chronicle Housing Values May Be Viewed as Golden NY Sun A Greenwich of the Mind New Yorker What happens when the downturn goes upmarket? Mortgage fraud still soaring CNN How to shore up America’s crumbling housing market FT (Feldstein) Cramer Calls the Housing Bottom CNBC Unlocking your home equity Fortune Crude Oil Rises a Third Day as Tropical Storm Gustav Nears Gulf of Mexico BL Why precious metals may power to new all-time highs in 2009 Gold Report Commodities: Bear Market or Bounce? Money Morning That 20-year commodities super-cycle is in need of a puncture repair kit Independent Could $100 oil turn dumps into plastic mines? Reuters Wind Energy Bumps Into Power Grid’s Limits NYT Inquiry Looks at Fidelity-Goldman Ties WSJ (Complete via google jump) Auction-Rate Sales By the Fund Titan Are Under Scrutiny N'il-flation Strikes The Dow - Earnings Plummet Into the Red Casey (Barron’s) Will the IPO season end with a whimper? Fortune The number of companies that have gone public this year has plummeted 75%. Lehman asks private equity firms to remain in bid Reuters Jury awards Mattel Inc. $100 million in Bratz suit AP Maple Leaf's future seen at risk amid food recall Reuters Weak economy to sap handset market growth: Gartner Reuters Financing Is as Close as the Nearest Angel BL Asia Is About to Give U.S. a Kick in the Fannie Pesek BRICs as international investors: China in a class of its own DB Research Weber Says Higher ECB Interest Rates May Be Needed When Economy Recovers BL ECB slammed by Nobel economist as slump deepens Ambrose Evans-Pritchard Ministers to tell energy firms: 'Use your profits to help poor' Independent Russia: Financial markets under pressure amid crisis Danske PDF Economy grew more slowly than expected: Bank of Canada G&M Argentina - Default Fears Morgan Stanley South African Inflation Accelerated to Record 13% in July on Food, Energy BL Macquarie Drops in Sydney After UBS Cuts Stock Rating BL PetroChina says 1H net profit fell 35 pct AP Petrodollars fail to help ordinary Iraqis CS Monitor Tuesday August 26, 2008 Fed Policy Makers Agree Next Move on Interest Rates Will Be to Raise Them BL Minutes Consumer Confidence Improves in August Conference Board New home sales rise, but grim news lurks CNN PDF S&P: Home prices drop by record amount in 2Q AP S&P Pictures of a stock market mania Cross Currents Slowdown echoes Great Depression, says Bank's deputy chief Scotsman Blame Game Is Dishonest Kass Dead Men Walking InvestorsInsight Fertilizing for the Next Schismatic Global Boom Hahn PDF Don't Cry For Me Argentina Schoon Beijing swells dollar reserves through stealth Ambrose Evans-Pritchard Rule changes for commercial banks are acting as cover for exchange rate intervention Gulf Countries Remain Tied to the Dollar NYT Will economy's path be shaped like a U, V, W or L? AP The obsession with shapes is a departure for Wall Street, where metaphors tend to be about hunting, war or sex. Short Takes: The S&P 500 Index and the Media's 'Bear Market' Crescendo Schaeffers Contrarians wonder where all the bears are Hulbert “The 545 People Responsible for America’s Woes” Saut Ron Paul Ten lessons from neuropolitics Farrell Can Democratic convention hide the parlous state of the US economy? Times Online FX Strategy - IMM positioning: Short GBP/USD positions are built further Danske PDF Gross, Fuss say any new GSE deal needs Treasury Reuters Regulators step up action on U.S. banks: report Reuters Thornburg Survival in Doubt After New Margin Calls CNBC Bank of Montreal Profit Declines for Fifth Straight Quarter on Loan Losses BL BOK 'not Worried' About Bonds in Troubled U.S. Lenders Chosun World Stock Markets Feeling the Pain of the Credit and Housing Crisis MyBudget 360 Communities Become Home Buyers to Fight Decay NYT Several big cities are using tax dollars and private funds to buy and refurbish foreclosed properties to help declining neighborhoods survive. Florida tops 1Q mortgage fraud list AP The Fed and the credit crunch FT Swaps Money Train Prepares for Final Run in Muniland Mysak Gold Declines for Third Day as Dollar Strengthens; Silver Drops BL Of (gold's) Price and (various) Men Nader US Mint resumes gold coin orders on limited basis Reuters Wake-Up Call Kirby Lee Ags Outflows Slow UBS Financials help send S&P 500 earnings down 29% in Q2 AP S&P Excel File GM Receives Gulf Arab Interest in Hummer Buy Reuters Borrowing at Merrill, Wachovia Hit With Biggest Refinancing Bill on Record BL Citigroup Will Ban Off-Site Meetings, Limit Color Photocopies to Cut Costs BL New York Times' ad revenue falls in July MW German Business Confidence Declines More Than Forecast as Recession Looms BL China May Use Bond Sales to Boost Stock Market, Worst Performer This Year BL Controls May Hurt China's Stock Market NYSun Economy 'as bad as the Seventies' Independent UK seems set for a recession and must hope to avoid a depression Telegraph Japan's Bonds Rise a Second Day on Concern Credit Loss to Widen BL Japanese Companies Go on Biggest Buying Spree Since Market Bubble of 1980s BL Thai economic growth falls to 5.3 pct: official data AFP More Troubles for Tata's Nano Business Week Is the October launch of the $2,500 auto in danger? Asahi Homes Plunges to 5-Year Low After Parent Sebon Files for Bankruptcy BL Leading companies to slice dividends Times Online Russian Stocks Sink, Ruble Declines as Moscow Recognizes Breakaway Regions BL 'Isolationist Policies Would Be a Big Mistake' Spiegel Zimbabwe and Jamaica run away with the economically adjusted Olympics King Monday August 25, 2008 Fannie and Freddie woes spread CNN The sharp decline in the value of preferred shares of the troubled mortgage finance firms could lead to billions of dollars more in bank writedowns. Financials drag on market; Dow falls more than 240 AP AIG at 13-Year Low as Credit Suisse Forecasts Loss Reuters U.S. July exisitng home sales up 3.1%, inventories rise MW NAR Citigroup Says Rubin to Give Up Executive Committee Role, Remain on Board BL Chicago Fed's National Activity Index Deteriorates in July CFED PDF Monday Morning Outlook: Portfolio-Hedging Headwinds Remain Persistent Schaeffers Credit Risk Spreading Beyond Financials Hussman Fed's Barn Doors Are No Obstacle for Its Horses Baum Inflation threat growing, economists say CNN Going for the gold? Be careful MSN (Fleck) Bond Market Flashes Caution Signals for Stocks WSJ A Shallow Recession -- Then a Shallow Recovery Barron’s Recession indicators Econbrowser 10 Reasons why there will be no Second Half Recovery in 2008 Dr. HB Consumer Stock Rally Doesn't Signal Economic Recovery BL Is deleveraging bad for the US economy? Shostak On the Link between the Dollar and Oil Morgan Stanley Bank rules reform seen but Paulson blueprint doubted Reuters How the U.S. bank insurer deals with a collapse Reuters The global consensus on trade is unravelling Summers Libor Signals Tighter Credit as Banks Balk at Lending BL “It's like an ongoing nightmare and no one is sure when we're going to wake up...Things are going to get worse before they get better.'' FT: “In Europe and Asia, spreads for many investment grade companies are at 10-year highs” Financial crisis enters new, uncertain stage MW Losses expected to double, while Fed remains under microscope Fannie, Freddie Woes Vex Experts And Leave U.S. Hard Choices WSJ Video: Fannie Bailout to Cause More Banks to Fail? CNBC Subprime mortgage trauma is similar to S&L crisis JS Online Shiller's Subprime Solutions Forbes US investors catch a cold from frozen auction-rate securities Telegraph Private shareholders lose £48bn on investments since credit cruch started Times Danish Central Bank Makes Rare Rescue of Crisis Bank AP Higher Fees for Mortgages NYT Real estate key to issues throughout South Florida Miami Herald FBI saw threat of mortgage crisis LA Times Gold Prices Fall for a Second Day in London as the Dollar Rises BL Gas prices down for the 38th day in a row CNN Commodities Hint of Bottom on Mine Closings, Supplies BL Oil prices may be headed for fall Brimelow But they probably won't fall as far as they have in the past Energy Stocks, Oil Drop May Be Over Dorfman Drilling Boom Revives Hopes for Natural Gas NYT The T. Boone Pickens Profile You Haven't Read Newsweek Fannie, Freddie Share Declines Diminish Prospects of Finding New Investors BL KDB warned against buying Lehman FT Lehman CEO Fuld faces internal effort to oust him: report MW Hedge Funds Face Shock Waves BMO PDF Hedge-Fund Regatta Sunk By Market Crash Clusterstock Semiconductor Prices on Decline Chosun Maple Leaf recalls 220 products G&M Economy forcing many to let go of luxury toys Union Tribune Glub, glub, glub: 40% of options are underwater Financial Week Indiana Sues Countrywide Over Lending Practices AP Two Accused of Harassing Blackstone Group Executive WSJ ($) U.S. tax loopholes cost billions annually Reuters Lone accountant takes on IRS and wins AP Berkshire Hathaway: Like a Kid in a Candy Store SAlpha Warren Watch: At this lunch, tips for diners Omaha WH China considers $54bln stimulus plan: state media AFP Disposable income at lowest level for 11 years Times Online Economic recovery still a long way off, Bank of England chief warns Telegraph ECB Will Alter Auctions to Prevent Banks `Gaming the System,' Mersch Says BL Bank of England: Analysts say sterling slide no bar to rate cut Guardian Australian Mortgage Bonds One of the Best Buys `on the Planet,' Pimco Says BL Rock sale to Virgin risked £2bn loss Telegraph Bank loses face over Brian the sumo fake Guardian Central bank faulted for low pay, irrelevant studies G&M 'Made in China' brand reaps Olympic dividend China Daily Weekend Edition (Aug 23-24, 2008) Key U.S. Data Releases and Events Global Insight Columbian Bank and Trust of Kansas Closed by U.S. Regulators BL FDIC People's Bank of China buys secret Prudential stake Telegraph "It is not just the insurance sector. The Chinese have been buying stakes in a significant number of companies” The Narrowing Ecologies of Global Growth PIMCO (McCulley and Parikh) It’s More Than Freddie and Fannie Mauldin PDF What Will Mac ’n’ Mae Cost You and Me? NYT (Morgenson) Global Equity Strategist - The New Carry Trade CITI PDF The Bottoming Process Schwab My “new paradigm” thesis is kicking into gear quickly! U.S. and Global Economies Slipping in Unison NYT Might the Fed prick asset bubbles in future? MW Ex-Bank official says Fed cuts went too far Reuters PDF File SPX Bear Technicals Zeal Market Volatility Can Be Opportunity or Hindrance! Harding Schiff - Noland Relying on a Windfall to Fill the Gas Tank NYT Despite a relapse of gasoline conservation after the tax rebate checks came out, the drive-less trend seems to be stronger than ever. Inflation: No All Clear Yet UniCredit PDF I.O.U.S.A.: Interview with Warren Buffett, Pete Peterson and Dave Walker ~ PGFP PDF That Student Loan, So Hard to Shake NYT U.S. Financial Data, August 22 Issue FRBSL Hedge fund Ore Hill limits redemptions Reuters Ore barred clients from redeeming their money just as investors clamored for an exit... Freddie, Fannie Failure Could Be World `Catastrophe,' Yu Says BL “If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic” Too big to fail? We'll see about that LA Times The subprime turmoil: What’s old, what’s new, and what’s next VOX The next credit crisis timebomb could be the credit cards you carry Telegraph Credit Crunch Watch Oxford Economics PDF In Central Valley, the Ruins of the Housing Bust NYT In Merced, Calif., frames of houses in the Riverstone development have bleached in the sun for more than a year. Three-fourths of existing-home sales in Merced County are foreclosures. Coming Up With the Cash WP Tighter Down Payment Standards Force Buyers to Get Resourceful These homes for sale stink CNN Never before have there been so many squalid, dilapidated homes on the market - and they're helping to exaggerate already-plummeting home prices. Real Homes of Genius: Revisiting a Past Downey California Home Dr. HB Silver Manipulation - The Smoking Gun Butler Gold may become dearer Business Standard Just another Oil Shokku Asia Sentinel GM, Ford Seek $50 Billion in U.S. Loans, Double Automakers' First Request BL Merrill Lynch settlement with SEC worth up to $7B AP Lone Star's Grayken Races Apollo, KKR With $10 Billion of Distressed Deals BL As Overbooked Flights Rise, So Do Payoffs for Those Who Are Bumped NYT Criminals dumping weak US dollar for euro AFP Japan's economic package to reach 73 billion dollars: report AFP UK recession: The question now is how deep it will be Telegraph Taiwan Joins Philippines in Reducing Growth Forecast as Slowdown Spreads BL China’s Turn BMO Focus PDF China's next challenge IHT Venture Money Flows in India and China ZDNet Asia Storm clouds over Indian market grow darker Gulf News Rentokil refuses to allay rights issue fears Times Online Watchdog takes issue with Rio bid Australian TNK-BP's chief accuses Russians of power abuse Telegraph Russia looks far from a bear market Independent Week in Review NTrust Weekly Trends Scotia Weekly Focus Danske PDFs Friday August 22, 2008 Oil: Biggest drop in 17 years CNN Freddie courts cash as ratings for it, Fannie take another hit AP Speech by Chairman Bernanke on reducing systemic risk FED “...the financial storm that reached gale force some weeks before our last meeting here in Jackson Hole has not yet subsided” Here's to Hoping Nouriel Roubini Is Proven Wrong Pesek A year after speech, Bernanke may have to eat his words USAT A mountain of worry for Fed at Jackson Hole MW Central Bankers at Retreat May See Few Options to Fix Economy BL Nobel Winners Expect Crisis to Further Weaken Growth BL Recession fear for half the globe, says Goldman Sachs Telegraph Forecasts for the Markets Turn Ultra-Bearish Â Dorfman Short View: Should we trust this rally? FT Are Bond Investors Crazy or Waiting to Exhale? Baum The Real World Order InvestorsInsight Global economic wipeout ahead MSN Profit Without Risk? Not Likely NYT (Norris) Inflating the next bubble Janszen Double-Count Accounting Magic Mogambo Washington Is Quietly Repudiating Its Debts WSJ Buffett, others say high U.S. debt levels pose risks Reuters Credit crisis hangs over markets G&M Buffett Says Fannie Mae, Freddie Mac `Game Is Over' BL CNBC Up to $40 Billion For Fannie, Freddie Bailout: Gross CNBC Paulson Might Need to Decide Whom to Hurt in Any Rescue of Fannie, Freddie BL The GSE End Game? Larson Fannie and Freddie: Poker, Bazookas and Paulson Financial Ninja Mortgage Delinquencies for Loans in Securities Soar, S&P Says BL Some Fear Commercial Property Loans Will Be Next Stage in Downturn NYT New York becomes least affordable housing market in U.S. CNN Home foreclosures hit new record in July Union Tribune Get ready for a mortgage maze Star Tribune Mint suspends red-hot Eagle gold coins Reuters Gold in the eye of the beholder Union Tribune Oil, Dollar Lead Commodities Index Toward Biggest Weekly Gain in 33 Years BL Have commodities hit bottom? MW Why expensive oil is here to stay CNN Gas price average below $3.70 CNN Platinum Liquidation? UBS Asia expansion keeps resources booming Australian KDB says buying Lehman a possibility Reuters Lehman Brothers may face hostile takeover Times Greenberg in AIG Court Confronts Giving Up Most of $1 Billion Commissions BL Toyota to cut 2009 sales target, shares to struggle Reuters California mulls probing senator over IndyMac crash Reuters Buffett, Gates and mutant fish frame oil sands debate Reuters Candymaker Mars to raise prices in October Chicago Tribune This blame game is short on logic FT ’Large Number' of Banks Mis-Marked Assets, U.K. Regulator Says BL RBC, U.S. watchdogs talk securities settlement G&M U.K. Economy Unexpectedly Stagnated Last Quarter, Ending Record Expansion BL Pound tumbles as UK growth comes to a halt FT London Real Estate Shakeout Means REITs Lose 50% as Office Tenants Vanish BL China's ICBC says it has become world's most profitable bank AFP China’s Looming Hangover? BeSpoke New Europe Weekly: Geopolitical tensions begin to weigh on CEE markets Danske Persimmon hopes market has hit bottom as it slashes dividend by 73 per cent Independent Investors quit Russia after Georgia war FT Thursday August 21, 2008 Gold Jumps Over $20 on Falling Dollar, Crude Spike AP Initial Unemployment Claims in U.S. Declined 13,000 to 432,000 Last Week BL I Spy More Road Kill on the Credit-Crunch Highway Gilbert Fertilizing for the Next Schismatic Global Boom Hahn PDF Investment Bulletin Bedlam PDF This is What a Bear Market Does Farrell Keep Your Seatbelt Fastened Mohamed El-Erian Buffett spotlights nation's debt crisis AP Billionaire investor teams up with Wall Street luminaries to focus attention on America's ballooning budget deficit. We Can't Tax Our Way Out of the Entitlement Crisis Hubbard The Secret to Retirement Planning Â Wakefield Saved by U.S. Savings? Don't Count On It Smith Financial Crisis Is Still Far From Over, Market Pros Say CNBC Bank Bond Risk Rises to Five-Week High on Report Lehman Stake Sale Failed BL America's Obsession with Housing Hobbles Growth Shlaes US house prices: when will they stop falling? FT IndyMac borrowers to get relief CNN Fannie, Freddie and Lehman ensure August is anything but quiet Economist Losing Fannie and Freddie would deal a blow to Wall Street MW Fannie & Freddie Trading Should Be Halted: Cramer CNBC The Fannie-Freddie bailout issue Fortune Will Stocks Hit Bottom after Fannie, Freddie? Â CNBC No more need for Freddie and Fannie FT US: confidence in GSEs is fading rapidly Danske PDF Lone Star Agrees to Buy IKB, Germany's First Subprime Casualty, From KfW BL Lehman Brothers Declines on Report KDB, Citic Ended Talks to Buy a Stake BL The Nanny Fed Helps Out the Boys and Girls at Lehman Brothers BakerÂ WSJ Europeâ€™s junkiest credit index gets - well, junkier FTA Wealthy Look to US for Real Estate Â Korea Times Housing Swaps, Frugality, and Selling Homes in Lower Priced Areas Dr. HB Where Did the Risk Go? How Misapplied Bond Ratings Cause Mortgage Backed Securities and Collateralized Debt Obligation Market Disruptions Mason & Rosner PDF Is the "Commodity Super Cycle" Dead or Alive? Dorsch Metals rally, with gold up nearly $20 MW Gold Demand Vaults UBS Oil prices rise after Venezuela moots output cut AFP A Few Speculators Dominate Vast Market for Oil Trading WP North Sea pipeline leak lifts gas price Times Commodity Markets Retreat BMOÂ PDF New Energy Frontiers Expand Global Connections --Â Part II YALE Global Part II Big Three See Market Share Plunge DB Research Source: auction-rate probe focuses on 3 banks AP Penny Pritzker Shows Why She Convinced Warren Buffett to Help Barack Obama Â BL The Legacy Of Benjamin Graham IndexUniverse U.K. Retail Sales Unexpectedly Rose - Europe Service, Manufacturing Industries Shrank BL Manufacturers' output hopes slump to seven-year low as orders wilt Times British Families, Drowning in Debt Spiegel Britain is being hit with a credit crisis that resembles the American subprime disaster Brian's Inflation Song Is a Little Pitchy KasrielÂ PDF China eclipses US as Japan's partner Â Telegraph How did Merrill Lynch miss the red flags? Finance Asia A Credible Economic Threat to Russia NY Sun Will US-Russia tensions extend to space? CS Monitor Escalating Russia tensions yet to hit market Â MW Wednesday August 20, 2008 Stocks rise as energy stocks rebound MW Fannie, Freddie Shares Slump, Bonds Rise on Speculation Bailout Inevitable BL Exclusive Interview: Rogers Predicts Bigger Financial Shocks Loom Money Morning Global Recession Will Drive Down Energy Prices by 30% Roubini It's Still Going to Get Worse Fool The Great Consumer Crash of 2009 PBear Credit spreads point to end of equity rally, Merrill says MW After a long slide, dollar on the rebound CS Monitor The Dollar Has Been Allowed To Appreciate Ciovacco Splitting the Horns of a Dilemma Wachovia U.S. on Brink of Recession, Global Insight Economists Say CEP Monetary Trends, September Issue FRBSL Should you put money on Uncle Sam? Telegraph The new Cold War era Bearâ€™s Lair The Profit Potential of Tasty Pork Products Mogambo Bankers Get Ready to Kiss 200,000 Investors Goodbye Mysak Warning about a bank failure may trigger it MW Half-time in the credit crisis and the score is only going to get worse Prosser Credit crisis will hit everyone MW Fannie, Freddie Bailout May Hinge on Costs for $223 Billion Debt Rollover FT Freddie pays highest risk premium FT Some Investors Say U.S. Bailout of Housing Giants Is Inevitable NYT GSE Woes and More Fed Easing Ahead Barbera Lacker Clashes With Paulson, Wants Fannie Mae, Freddie Mac Taken Private BL Commercial Real Estate Quarterly: Second Quarter Wachovia Hedge funds at a loss to cope with mood swing Times HP posts 3Q profit jump; faces stiff competition AP Buffett and Gates tour Alberta oil sands G&M GM to make U-turn over sales incentives FT Investors hope to cash in on bankruptcy filings USAT Ex-hedge fund manager ordered to pay $300 million Reuters National City Bond Trades Show Looming Defaults KeyCorp Yields Can't Deny BL All SEC financial data to be interactive within two years Â AP Even CEOs made mistakes in their own investments WSJ Oil up slightly in Asia ahead of inventory report AP Gold and the Money Supply Â Saville Do You Smell the Gold Bottom? SAlpha Tiberius Says Bear Market in Commodities May Last 6-9 Months BL PVC Prices May Rise as China Extends Plants Shutdown, Faces Coal Shortage BL Food prices are soaring. So why is lobster cheap? Newsweek Shanghai surge sparks region's rebound MW China making 'progress' on currency: Paulson AFP Olympic Vacancies Haunt Beijing Hotels Business Week China: The Post-Olympic Slowdown BCAR Trump: Late to India's Party? Business Week Investors spooked amid renewed fears Times Loan rates reach seven-year high This is Money Philippines Lowers 2008 Growth Target a Second Time as Oil Damps Spending BL Bush Ties Prove Radioactive For Asian Leaders Pesek Tuesday August 19, 2008 Fed's Fisher: Fed Must be Ready to Act on Inflation Reuters Wholesale Prices Surge at Fastest Pace Since 1981 AP BLS Housing Starts in U.S. Fall to 17-Year Low; Building Permits Decline 18% BL PDF UCLA Prof: U.S. Far From Recession Dow Jones Money supply figures signal Wall St crunch Ambrose Evans-Pritchard The Elusive Bottom David A. Rosenberg We aren't past the halfway point of this recession Bond market jitters return Fortune Don't look now, but the markets could be headed for another stomach-churning drop. When you're in Jackson Hole, stop digging Baker The same group of economists that led the economy into this catastrophe still has its hands on the wheel. The US economy is in a funk Morici Smithers: Stick to cash FTA Inflation Is a Clear and Present Danger WSJ Household Credit Analysis CIBC Real Estate Trends Scotia PDFs Oil price fall to boost global growth in 2009? Lloyds PDF No Limit to Greenspan's Once-In-A-Century Events Baum It's a woman's prerogative to change her mind. So here goes. There is something unseemly about Greenspan's conduct. We'll All Pay For the Fed's Loose Money Follies WSJ Fed's History of Bailout a Falling Stock Market Hook Andros - Sedacca No quick fix for America’s war-torn economy Stiglitz Why we love 'America's Outrageous War Economy' Farrell Not America's decline - the rise of everyone else Finance Asia The Post-American World The State of Working America - Preview EPI High borrowing costs defy Fed's interest rate cuts USAT Fannie's Perilous Pursuit of Subprime Loans WP As It Tried to Increase Its Business, Company Gave Risks Short Shrift, Documents Show Washington's ultimate solution Fortune How to solve the financial crisis? Play for time, pray for markets to turn. The war and the circus; the dog and the pony - anything but a real solution The Age Call for central bank harmony in crises FT So Cal Housing Report: New Motto: Foreclosure Data is so Bad, it has to be Good! Dr. HB Home Depot's 2Q Profit Drops 24 Percent AP Staples Warns on 2Q Earnings Citi reorganises its Asia business Finance Asia Icahn of Sweden Doing Disruptive Deals Makes Cevian Despised by Companies BL Chrysler sues battery supplier Johnson Controls: report Reuters Bar Fight: Accounting for Lawsuits CFO FASB's chairman defends a recent proposal after a scathing Wall Street Journal editorial PCAOB Faults Flaws in KPMG's Audits CFO Wall Street's bad reputation gets worse MW The Lessons of a Lifetime Butler The drastic sell-off in silver (and gold) is further proof of an ongoing manipulation to the downside Gloomy outlook for commodities Business Day Xstrata Suspends Nickel Mining in Dominican Republic After Price Decline BL As Oil Giants Lose Influence, Supply Drops NYT How Foreign Policy Affects Gas Prices Paul Bank of Japan Is More Pessimistic on Economy's Outlook, Keeps Rate at 0.5% BL Producer-Price Inflation in Germany Accelerates to the Fastest in 27 Years BL Chinese stock market's Olympic specialty: tumbling LA Times The Shanghai index has fallen 15% since the Games opened. Investors, who had hoped for a reversal of the year's downward trend, are angry. Shanghai: Gold Medal in Cliff Diving Calculated Risk `Wait and see' sets in as China slide continues Standard China banks face tough times Reuters London asking prices fall £21k in a month ThisisMoney Rush to rent as house sales dry up Independent Fund Managers Told to Prepare for Run Korea Times M&S redundancy move sparks fears of job losses Times Online Canadian Countdown: Flood of Job Losses Coming? Trumpet US slowdown hits India’s IT sector Asia Sentinel Singapore’s Temasek Courts Disaster Asia Sentinel New Zealand: Consumer Slowdown To Continue BCAR Venezuela seizes control of cement companies AP Wall Street Frets Over Cuban Missile Crisis Scenario Dorfman Americans play Monopoly, Russians chess Asia Times FX Strategy - IMM positioning: Specs imply belief in further dollar rise Danske PDF Dollar hits 2008 high vs basket of major currencies Reuters Monday August 18, 2008 Fannie, Freddie shares battered CNN Gold futures close with 1.7% gain MW Home Builder Sentiment at Record Low in August Reuters NAHB Financial Crisis Expected to Bring More Big Shocks CNBC Post-Expiration Week Headwinds Could Be Troublesome Schaeffers Something is About to Give Hussman The US economy: all the little things that go to make a recession Jackson Dollar surge will not stop America feeling the effects of a global crunch Evans-Pritchard Rock bottom eludes U.S. stock market Reuters Now Greenspan hates bailouts? MSN (Fleck) Bernanke Tries to Define What Institutions Fed Could Let Fail BL Reinhart is one of several Fed alumni who say they are concerned the central bank will next face requests to rescue hedge funds or insurance companies whose failure might damage the financial system. Bernanke expanding the influence of Fed post Chicago Tribune A long year of lessons for the Federal Reserve Reuters Dallas Fed chief Richard W. Fisher speaks his mind in Q&A DMN US spending and lost innocence Corrigan A big stinking economic heap Mogambo Trees Don't Grow To The Skies Lenzner Five Ways to Wreck a Recovery Shlaes Inflation Watch: Even dirt isn't dirt-cheap anymore WP Export Boom Helps Farms, but Not American Factories NYT It’s the Economy Stupor Krugman Obama Tilt Toward Rubinomics Stirs Warning From Organized Labor BL Wall St duo bring in new lending systems FT Morgan Stanley and Goldman Sachs are responding to the credit crisis with new systems that use the market's view of their own creditworthiness as a basis for lending decisions... Saft: The second half of 2008 looks like it will put the "self-reinforcing" into "self-reinforcing credit spiral." How Low Interest Rates Contributed to the Credit Crisis WSJ Fannie and Freddie face overseas confidence crisis Reuters Foreign central banks have dumped nearly $11 billion (5.9 billion pounds) from their record holdings of this debt in four weeks, and won't return in force before it's clear if -- and how -- the government will back Fannie and Freddie U.S. likely to recapitalize Fannie, Freddie: report Reuters - Fannie and Freddie: Worth Negative $50 Billion Each BIG Picture Barron’s ($) Morgan Stanley sees more finance crisis pain: paper Reuters Lehman Faces Another Loss, Adding Salt To Its Wounds WSJ ($) Subprime pain sweeps the world TheAge Spanish bad debts jump further in June Thomson Weak rules cripple appraiser oversight AP Is Housing Bottoming? Don't Bet On It Smith Blog Crude Eases to $113, Storm Threat Subsides Reuters A Fabrication Bottleneck or Something More Turk The Internet is abuzz with reports that precious metal dealers have stopped selling coins and small bars because they have run out of inventory Gold: Misconceptions vs. Reality Lewis Shock waves as oil bubble burst Australian OPEC Plays Oil Junkies for Suckers WP OPEC official says falling oil price could trigger output cuts MW Saudi Arabia's new gold mine Fortune Forget oil. Prospectors are looking to strike it rich off of gold - the shiny kind. Gas prices down another penny CNN Speculation Not So Fundamental? Middle East Economic Survey A Critical Review of CFTC’S Interagency Task Force Report on Crude Oil Markets How investors inflate commodities' bubble SF Chronicle Mini-mills prompts rush for steel scrap Reuters Bling's still the thing Telegraph Lowe's Profit Falls for Fourth Straight Quarter; Forecast Trails Estimates BL Home Depot May Forecast Lower Annual Profit as U.S. Housing Slump Deepens BL Asia Brings Share Value Unfathomable to Vanguard BL Hedge funds fill credit void for SMEs FP At Least the Airsickness Bags Are Free NYT Even the 'comfortable' face the need to alter spending habits CS Monitor PBGC downplays investment plan risks, report says AP Media coverage of the economy lags, study finds AP China shares fall; Shanghai Composite down 5.3 pct AP U.K. Home Prices Drop Most Since 2002 as Loan Squeeze Deepens London Slump BL Savills: Residential building land value drops 20pc Telegraph Economic slump puts 300,000 jobs on the line Times Online Gloom deepens among UK firms Independent French Business Confidence Declines to Five-Year Low, Bank of France Says BL They're nuts over here too, Jim Guardian With commodities falling and unemployment rising, the MPC should cut rates China faces economic reckoning after Games Times Online China moves to stem flow of 'hot money' Yomiuri Reading Tea Leaves: China’s 2Q Monetary Report WSJ Blog American industry can stay ahead of China FT Japan likely to freeze rates, lower economic outlook MW Consumers Tightening Purse Strings Korea Times Zim bank: Inflation now 20 million percent ZimOnline Musharraf says he will resign Pakistan presidency CNN Gates, Rice say Russia will face consequences WP Russia managers reject long-term war worries FT Moscow's Georgians Say Harassment Escalating BL Looking Into Putin's Eye Fails as War Shows Friendship's Limits BL Some Russian PCs used to cyberattack Georgia USAT Weekend Edition (Aug 16-17, 2008) Key Data Releases and Events GI Week Ahead MerkComing Week: Danger Ahead Street The Week Ahead: Are We in a Global Recession? CIBC PDF Home Building in U.S. Probably Fell to 17-year Low as Lenders Retrenched BL Dr. Doom NYT “He sounded like a madman in 2006...He was a prophet when he returned in 2007.” Dysfunctional Pricing Backdrop Noland How the Smart Money Lost $1 Trillion, So Far North Whatever Happened to Decoupling? Mauldin Is It Time To Sell Into the Rally? Harding Belated Withdrawal From Risk NYT (Norris) Keep eye on business spending AP (Beck) The Strong Dollar Illusion Schiff The Dollar Surges Stelzer The Dollar: Short-Term Rebalancing Of Expectations, Long Term Risk Merk Bracing for Inflation Business Week U.S. Inflation: Soon To Erode BCA Research Despite the recent softening of oil prices, the U.S. could be looking at double-digit inflation as early as 2009 Pimco's Gross: Fed Will Not Raise Interest Rates CNBC Is it time to back America again? Times A Bond Market, Starved for Sunshine NYT (Morgenson) Nowhere is disclosure more urgent than in the $2.6 trillion municipal securities market Treasury Bond Yields and Long-Run Inflation Expectations FRBSF Fiscal Armageddon, coming to a cinema near you Economist ~ iousathemovie.com ~ Credit Crisis: Unhappy Birthday! BMO Focus PDF F.D.I.C. Retirees Ride to Rescue in New Era of Bank Failures NYT The F.D.I.C., which had a staff of 4,600 at the end of 2007, has brought back about 80 people — largely retirees — and may well recruit dozens and even hundreds more people. Credit Crunch Watch Oxford PDF Lehman in $40bn real estate talks Times George Soros Boosts Stake in Lehman DJ Another one bites the dust Reuters DealZone The next wave of mortgage defaults CNN Prime mortgages are starting to default at disturbingly high rates... Real Homes of Genius Special Edition Dr. HB Shadow Housing Inventory: My Budget Getting an Actual Housing Picture of California Foreclosures and REO Numbers. General Motors Isn't Seeing Signs of U.S. Economic Recovery, Wagoner Says BL Breaking up big banks questioned as losses mount AP Price hike hammers Hershey Fortune Mrs. Fields to file for bankruptcy AP Goldman, JPMorgan May Prove `Mortal' as Earnings Likely to Fall, UBS Says BL SEC Halts "Pump and Dump" Scheme CFO Judges in Dispute Over Mutual Funds NYT Small Stocks Survive, and Thrive NYT Raskob was right Financial Post In the summer of 1929, a journalist named Samuel Crowther interviewed John J. Raskob, about how the typical individual could build wealth by investing in stocks. Epic Gold-Stock Buying Op Zeal Nadler WT: Gold fell below $800 an ounce Friday, capping the biggest weekly slide in 25 years... Gold's resilient properties lie in question MW The Amber Waves of Pain? Pretti Is copper feeling a bit green these days? EDC Why oil is headed for $100 a barrel -- or lower FP A delicate balance: Two paths for a global economy on the brink FT UK warned of imminent recession Times Online Hong Kong's economy shrinks: govt AFP Shine off India's economy as gloomy data piles up AFP Central bank suggests China puts exchange rate flexibility on backburner AFP Bad loan losses jump at big Japan banks -Motegi Reuters Japan unlikely victim of global economic woe FT Japan fading Finance Asia Japan's economy has improved little since its bubble burst 20 years ago Consumers close their wallets Yomiuri Businesses clamor for sales as high prices bring economic recovery to halt Slideshow: Japan's Labor Shortage NYT Surge in repossession orders clog up courts Times Online China’s stock market woes plague Ping An FT Cost of overseas travel soars as sterling drops 11 days in a row Independent Russia says withdrawal to take time Reuters Russia could strike Poland over U.S. shield Moscow transforms real-world game of RISK G&M Week in Review NTrust Weekly Trends Scotia Weekly Focus Danske PDFs Friday August 15, 2008 Gold ends below $800, down more than 8% for week; silver sinks MW Merrill, Goldman Pressured by Cuomo on Auction-Rate Debt; Wachovia Settles BL Economy batters small business spirit Fortune U.S. Consumer Confidence Increases on Fuel; New York Manufacturing Expands BL Factory output posts biggest pickup in 10 months MW FED Stay The Course Comstock Sir Alan's Follies WP (Pearlstein) This time, wage slaves can't revolt Fortune What's good for the Fed, in this case, is bad for consumers. Of Disasters, Recessions, Crunches and Busts Morgan Stanley U.S. Retail Sales: Slowing, And More Weakness To Come BCA Research Why not to expect the same old bull Hulbert Medicaid bears brunt of states' budget crunch CS Monitor Less Than Golden Years NYT Even before the housing bubble, the country was facing a retirement crisis, with most Americans saving too little, if anything, for their post-working years Economies across the rich world are flirting with recession - Good news for the dollar Economist Fresh dollar surge knocks commodities lower Reuters Goldman says U.S. dollar has bottomed, euro to fall Reuters Pound Drops for 11th Day - Longest Losing Streak in 37 Years BL Dollar's rise a downer for holders of foreign stocks LA Times Repercussions from the Financial Shock Fed Stern U.S. Financial Data, August 14 Issue FRBSL Obama specifies payroll, dividend tax plans Reuters That shrinking feeling Economist The credit crunch started in America, but Europe may yet prove the bigger victim. The Short View: Credit squeeze outlook FT Home Equity Frenzy Was a Bank Ad Come True NYT Home equity loans, once seen as the borrowing of last resort, have grown a thousandfold since banks began spending billions of dollars to advertise them. Housing: Huge Shadow Inventory? Calculated Risk Stonewalling on Countrywide’s Loans to Congress FOX Donald Trump to buy Ed McMahon's house LA Times ‘Credit crunch’ enters the dictionary AP Wells Fargo Stirs Doubts WSJ (Complete via Google jump) Close Examination Of Balance Sheet Reveals Problems Banks' Balance Sheets Are Squeezed From Both Sides Barron’s Merrill Lynch May Have $29 Billion of Losses to Offset Future U.K. Taxes BL Merrill Lynch freezes hiring until year end: memo Reuters Back to bust? High technology on course for harder times FT Toyota exec warns US auto industry won't recover until 2010 AFP End of the road for US automakers? MSN U.S. Is Pressuring Delphi Over Pension Obligations NYT Buffett ups stake in NRG Energy, Union Pacific AP Is Berkshire's star fading? G&M Public pensions eyeing hedge funds BL Riskier investment seen by some managers as way to make up losses Big Funds Eye Reinvesting in Tobacco Firms NY Sun Gannett To Cut 1,000 Newspaper Jobs; Shares Jump Reuters 32 protesters arrested outside Disneyland AP Clearwater buyers turn to Icelandic bank G&M Gold, Silver Slump, Leading Commodities Drop on Dollar, Growth BL Western oil demand set for huge fall Times Online Pickens: Oil May Hit $110, but Won't Go Below $100 Reuters $65-a-barrel oil is coming (maybe) MSN Two Large Solar Plants Planned in California NYT California's game-changing solar deal Fortune Report on oil prices is flawed, senators say AP Financial data shows hot money outflow Xinhua Three Scenarios for Japan’s Economy and Financial Markets Daiwa China Goes Milli Vanilli as Japan Tries Old Ways Pesek Canadian Housing: Out of the Medals BMO Chile raises interest rate to 10-year high AP Macau chief says gaming revenues could fall in 2009 AFP The world's worst inflation Fortune How Zimbabwe's ruler ruined an entire economy - and why it will finally bring him down. U.S. and Poland set missile deal IHT