Thursday July 31, 2008
Wall Street slides on GDP, jobless data AP
S&P cuts ratings of Big 3 automakers MW
White House says U.S. avoided recession MW
Chicago-region businesses expand in July MW
GDP up 1.9% in 2Q08, Less Than Estimated   BL  BEA - JClaims Jump - ECI
U.S. economy contracted in 4Q08 MW Recession May Have Started at the End of 2007
Just how stabilizing? Setser
The Con In Central Bankers' Confidence Schoon PDF
The time to be afraid is now Louisiana Weekly
Paulson still doesn't get it Morici
A Hidden Toll on Employment: Cut to Part Time NYT
Administration:US bond rating safe despite deficit AP
International Economic Trends, August Issue FRBSL
Credit market far from tossing away its crutches Reuters
One year on, money markets still in critical care Reuters
Merrill Zigzag Makes Investors Uncomfortably Numb Gilbert
Merrill sparks fears of soaring costs Reuters
“The question is, is that now the clearing price for anyone who has CDOs?"
Fed Loans to Failed Banks Made Easier by Fannie-Freddie Rescue BL
Financial Title Shuts Down Mish
Bair Says IndyMac `Unattractive' to a Potential Buyer BL
Deutsche Bank Writedowns Exceed Estimates; Ackermann Says He's `Cautious' BL
Covered Bonds, Exposed Taxpayers Business Week
Subprime lending and the housing bubble: Tail wags dog? LA Times
Don't steal Florida yet Financial Post
Average home price 'to fall Ł50,000' Times Online
Housing crisis to continue until 2011, Crosby warns Independent
UK faces negative equity crisis Guardian
One-in-seven UK homeowners faces prospect of having property worth less than their mortgage
Housing Slump Hits Northern Ireland Economy With Force Stronger Than Bombs   BL
RMBS market on brink of collapse Financial Standard
Only $2 billion in RMBS bonds were bought in the first six months of this year compared with $47 billion during the same period last year.
Lending Agency Plan Could Raise Rates Moscow Times
The Home Mortgage Lending Agency,which operates much as Fannie Mae does, was created to regulate the mortgage industry and provide affordable loans to homebuyers.
A zero-down mortgage by another name? G&M
GE exits Canadian mortgage business G&M
Oil will push U.S. inflation to 6%, CIBC's Rubin forecasts FP
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StrategEcon: The Return of Six Percent Inflation   CIBC  PDF
CRB Index Drops Most in 28 Years as Gas, Nickel Fall on Dollar   BL
Plat Demand Back UBS
Rice races to record high   Independent
Pitifully low food stocks, dark warnings of severe penalties for hoarders, export bans and even the spectre of riots. It sounds like a dystopian nightmare. But it is happening today...
Food And Energy Prices: A Prolonged Correction Underway? BCAR
Lumber, the next oil FP
Alaska gas pipeline bill nears state Senate vote AP
Oil man Pickens seeks "army" to back energy plan Reuters
FASB votes to delay off-balance sheet rule change Reuters
WP: Herz: "It does pain me to allow something that has been . . . abused by certain folks, to let that go on another year"
Financial Stocks Face Long Recovery: Whitney   CNBC
AIG Earnings Deteriorate as Private Equity, Hedge Funds' Returns Diminish BL
GMAC Reports $2.5 Billion Loss as Auto Sales Drop, Home Foreclosures Rise BL
GM to cut 15 pct of US, Canadian salaried workers AP Global Auto Report Scotia PDF
U.S. beer industry charts stormy economic seas Reuters
Starbucks posts first quarterly loss ever G&M
Bear Stearns Demise Proves Premature as `Ace' Continues to Sell New Shares BL
Record wave of international takeovers of U.S. companies Reuters
Legg's Miller: No clear case for buying financials Reuters  PDF File
Securities Class Action Lawsuits Soar   NY Sun
"I Said What?!" Portfolio
A look back at nine unforgettable statements by bank chief executives who would strike them from the record if they could. 
Here's a trading rule guaranteed to work MW
Japan Asked BOJ to Avoid Pessimism in 1998, Transcript Shows   BL
“To be frank, we would like reports that may drag us down to be avoided”
Kremlin's heavy hand triggers foreign investment exodus Ambrose Evans-Pritchard
Peasants make the BRICs crumble Australian
Trading powers reel from collapse of WTO trade talks AFP
China wants stable stock market ahead of Games: state media AFP
Chinese education play prices 22% below initial range Finance Asia
Only the third Chinese company to complete a US IPO this year.
Ode to the Downfall of a Finance Emperor Caijing
Foreigners' Stake in Bourse Falls Below 30%   Korea Times
Sovereign Wealth Funds Gain Ground NY Sun
FSA steps up action on insider trading with arrests Reuters
Obama to House Dems: If Sanctions Fail, Israel Will Likely Strike Iran ABC

Wednesday July 30, 2008
U.S. Stocks Climb After Report Shows Job Growth, Commodities Shares Rally   BL
Oil Jumps $5 After Report Says Gas Supplies Fell AP
Moody's, S&P, Fitch Are Sued by Connecticut Over Municipal Bond Ratings BL
President signs far-reaching housing bill MW
ADP shows 9,000 private-sector jobs added in July MW
Fed introduces longer-term credit to help unfreeze markets MW
Fed Statement: In association with this change, the European Central Bank and the Swiss National Bank are adapting the maturity of their operations.
A Fed Lifeline: $75B Auctioned to Banks CFO  PR
Research US: Taking stock of the bear market Danske PDF
Volcker's best apprentice Bear’s Lair
The world cannot grow its way out of this slowdown FT( Rogoff)
We Prefer A More Secure Financial Institution Lamont
How Safe is Your Bank? Cumberland
Are we trading against Hank Paulson? Harrison
Paterson Warns of Economic Crisis NYT
Fannie Mae, Freddie Mac Live to Die Another Day Baum
Mr. Boskin, the Facts Don't Support Your Hypothesis Kasriel  PDF
Economics of catastrophe Krugman
Mortgage applications slowest since 2000: MBA Reuters
Thain credibility survives despite Merrill capital U-turn Reuters
Merrill Write-Downs to Date... Econompicdata
For Merrill, the Investments Are Gone, but the Risk Remains NYTD
Merrill: No longer in denial Fortune
The Latest Fixes Don't Fix the Big Problem Barron’s
Neither Merrill's moves nor Washington's measures can erase $1 trillion in balance-sheet losses.
Beyond the credit crisis: the impact and lessons learnt for investment managers KMPG P
America's house price time bomb BBC
An Investment Firm That Prospered From Past Crises Turns to Mortgages NYT
How the Median House Price Will Fall from $215K to $70K Smith Blog
Real Homes of Genius: Today we Salute you Long Beach... Dr. HB
U.S. Profits May Drop the Most in a Decade, Led by Lehman, Merrill Lynch BL
Analysts Overstate Earnings Once Again BIG Picture
SEC extends short selling curb through August 12   Reuters
U.S. Marshals Sell Off Hedge-Fund Portfolios as Corporate Crime Escalates   BL
Bankers Party, Plot Deals in Los Angeles Complaint Mysak
Billion-dollar bankruptcies highest since 2003 Reuters
Restaurant Chains Close as Diners Reduce Spending NYT
Why Starbucks lost its mojo CS Monitor
Arbitration Tilting More Against Investors BL
Enron De-energized: Exec Comes to Terms CFO
Timers' optimism may bode ill for gold Hulbert
Oil slides below $122 a barrel G&M  Copper, aluminum soften on stronger dollar
OPEC chief says current oil prices 'abnormal'   AFP
OPEC 2.0 NYT
New ceramic glitters but is not gold Asahi
European Economic Confidence Slumps Most Since Sept. 11 Terrorist Attacks   BL
Backlash fears after collapse of WTO talks Times Online
U.S.-China trade gap: Massive job losses for U.S. workers EPI  PDF
Japan faces mild slowdown, rates can pause - IMF Reuters
Mortgage paralysis until 2011, warns report Times Online
Bleak times ahead for housing market Telegraph
BoE: Loans for home purchases down 70% ThisisMoney
Pakistan raises discount rate to fight inflation: official AFP
Iraqis more secure, but few are finding jobs CS Monitor
Zimbabwe Devalues Currency; 10B Becomes 1 Dollar AP
Just last week Gono introduced a new 100 billion-dollar note that is not enough to buy a loaf of bread.
Inflation bites harder in remote Kenyan region Reuters

Tuesday July 29, 2008
Crude nears three-month low MW
Pickens rips Yahoo management, says he dumped shares at a loss SF Chronicle
Starbucks Cuts Almost 1,000 Jobs, Says International Head Alling to Leave BL
The Consumer Confidence Index Holds Steady   Conference Board
Obama to Meet With Bernanke WSJ
Home Prices in 20 U.S. Metropolitan Areas Decline 15.8%, Case-Shiller Says   BL
Sony Profit Plunges 50 Percent, Lowers Forecast AP
S&P 500 Corporate Profits Leave Little Recession Doubt Kasriel  PDF
When Dr. Doom speaks, we should listen G&M
The Grand Summary: Our Empire of Debt Is Collapsing Smith Blog
A New Way to Generate Mortgages NYT (Norris)
The Homeownership Obsession Samuelson
Cure Wall Street's hangover with this 12-step intervention Farrell
The problems-solving Paulson package Mogambo  Kass - Hook
Winners and Losers from Terms-of-Trade Shocks Morgan Stanley
NY Gov Warns of Worst Economy In Decades NYP
Depression-Era Chic NYP
Candidates blast White House's economic oversight USAT
FX Strategy - IMM positioning: Net positions neutral for most G10 currencies Danske PDF
Merrill to Sell $8.5 Billion of Shares as Thain Unloads Money-Losing CDOs   BL  PR
Merrill may sell as much as 356.5 million shares in the latest offering...That represents a 36 percent increase over the number outstanding at the end of June.
First Merrill, now Citi - analyst   Fortune
WaMu and the $239 Billion in Outstanding Loans. $52.9 Billion in Option ARMs MyBudget
MGM, Dubai Fall Behind on $3.5 Billion Loan Target for Las Vegas Project   BL
US credit crisis is hitting the wealthy FT
Crunch boosts demand for staple financing FT
National Australia Bank Slashes Bond Sale by 69% After Investors Pull Out   BL
U.S. Housing: From Bad To Worse? BCA Research
Amid Housing Slump, Glut Eases Slightly WSJ
IMF Says End of U.S. Housing Slump `Not Visible' BL
Housing Market Won't Bottom For 18 Months: Tilson CNBC
The Downfall of a California Dreamer NYT
Coincidence or Confirmation? Butler
how did the NYMEX and the CFTC allow SemGroup, or anyone, to amass such a large position that it, obviously, couldn’t stand behind? What do these regulators do all day?
Record Ags Outflow UBS
U.S. Motorists May Drive Less for 1st Time Since 1980 BL
Transparency Sought as Speculators' Activity in Oil Market Grows WP
Looking behind the global food crisis China Daily
World Chemicals Market: Asia Gaining Ground DB Research  PDF
Fuel prices squeeze farmers at local produce markets AP
GM slashes another 117,000 vehicles AP
KKR says market slump good time for going public Reuters
'Tis the season Kellner
Commentary: Retailers hunt for shoppers as consumers hunt for bargains
Tourism rises globally, but not to U.S. CS Monitor
With a weak dollar, America is a great buy for foreigners, yet visits are falling.
BCE cuts 2,500 management jobs G&M
Russian row overshadows BP's profits Times Online
PCAOB's Effectiveness as U.S. Audit Watchdog Faulted as Court Ruling Looms BL
Car stereo sales hit a distressing low note USAT
Is Berkshire Hathaway stock a value? CNBC Video
Japan's Jobless Rate Rises to Two-Year High 4.1%, Household Spending Falls   BL
Indian interest rates rise to 9%   BBC
Largest one-day drop for yuan on slow rise rumor Standard
Rising Chinese salaries pushes Adidas to look elsewhere: report AFP
Crosby to advise Darling to reject US idea Times Online
Bank set for fresh battle with Treasury over mortgage bail-out plan Times Online
House prices 'to rise 25% in five years' ThisisMoney
NZ building consents at lowest level since 2001 NZ Herald
Former Manager Convicted of Corruption Spiegel
WTO talks sour as 'blame game' begins AFP
U.S. Policy in Asia: Meeting Opportunities and Challenges Deputy Secretary of State
Singapore’s “Australand shocker” Down Under FTA
The Nano: Tata's Costly Promise Business Week
Energy boosting eel drink goes on sale Japan Today

Monday July 28, 2008
U.S. stocks close sharply lower; financials pave way   MW
Administration Official Projects Record Deficit AP
Monday Morning Outlook: Investor Sentiment Reaches New Bearish Extremes   Schaeffers
Bagehot's Rule and the Cost of Being "Technically Insolvent" Hussman
Is latest stocks bounce a suckers' rally? USAT
Bear Market Rally May End as Kimberly, Novellus Forecasts Dim BL
Doomsday Warning From the Heavens Dorfman
Thinking About the Dollar Feldstein
Time for a spoonful of Reaganomics to help the inflation medicine go down King
A tipping point in America's mood CS Monitor
Blind to the obvious Mogambo
Pessimists are basing their gloom on old news Times Online
The repugnant bailout nation MSN (Fleck)
We are at another moment when those of a bullish persuasion are determined to put lipstick on the pig at every opportunity.
The Fannie-Freddie Fraud Paul
The way forward for Fannie and Freddie FT (Summers)
Freddie, Fannie `Fair Values' Hardly Look Fair Weil
Housing Bill Relies on Banks To Take Loan Losses WSJ
US lenders fear worst after two more fail   Independent
Worried Banks Sharply Reduce Business Loans NYT
US credit crunch set to last for months FT
Moody’s warns on European credit quality FT
Lehman Hardest Hit by Wall Street's Biggest Borrowing Cost Rise Since 2000 BL
ANZ Bank Says Full-Year Profit to Fall on Bad Debts BL
NAB's $4.5bn of risky conduit assets Australian
Analysts suggest the bank would be wise to make another $450m provision
U.S. Housing Slump Losses May Triple, Stewart Says BL
Economic woes hit U.S. credit card business G&M
Commodities could be the latest bubble about to burst Bootle
OPEC president sees oil at US$70 Standard
Some relief as gas prices fall CS Monitor
Congress deadlocked over offshore drilling CS Monitor
In rocky times, KKR to go public G&M
Ex-Google engineers debut 'Cuill' way to search AP
Inflation's next front is retailers as costs rise AP
Agency Subpoenas Focus on 4 Rumors That Hit Lehman WSJ
Former hedge fund head files against Citigroup: report   Reuters
Lessons from Drucker Times-Standard
Euro hit by slump in German consumer confidence; yen under pressure Thomson
U.K. House Prices Decline 4.4%, Most Since at Least 2001, Hometrack Says BL
House prices to 'plunge a third by 2010' ThisisMoney
India May Increase Interest Rates for Third Time Since June on Inflation BL
Investors Despair as India's Budget Hemorrhages Mukherjee
Asia Nixonomics Means No Exit From Subsidies-Driven `Noxious' Stagflation BL
Zimbabwe plans cash reforms as crisis deepens G&M

Weekend Edition (July 26-27)
Key U.S. Data Releases and Events Global Insight
Jobs, oil, earnings to call tune Reuters
Senate passes landmark housing bill CNN
No angry lines of customers after bank takeover   AP
FDIC takes over 1st National Bank of Nevada   AP  FDIC
U.S. Regulators Seize Two More Banks, Engineer Sale NYT
Can You Trust the FDIC? North
The $4 billion that the FDIC will pay to a handful of depositors at IndyMac is hush money. It is paid to them to silence every other depositor in the country...
Treasuries seen favored if deflation prevails - Merrill Reuters
The Real Meaning of Inflation Paul
The GSEs in Perspective Noland
The Past Happens Over and Over! Harding
No Free Bubble Lowenstein
Why the government should not be in the bailout business.
WSJ: The embrace of Fannie Mae and Freddie Mac by the federal government makes it official: Uncle Sam is the world's foremost subprime borrower.
With Fannie and Freddie bailout, we all lose to win   MW
Congress Taps Paulson's Helmet Schiff
Can Hank Paulson Defuse This Crisis? NYT
A conversation with Mohamed El-Erian Charlie Rose
Global Forecast Risks: From Inflation Upside to Growth Downside Berner
Unanchored Expectations? Interpreting the Evidence from Inflation Surveys FRBSF
America for Sale Business Week
In the past 5-years, 2,331 U.S. firms with a value of $772B were purchased by foreign buyers
Slumping economy brings boom in garage sales Chicago Tribune
It’s Bad, but Remember We’re Dodging the Worst NYT (Stein)
S&P reviews Fannie-Freddie ratings   Fortune
U.S. Housing: Are We There Yet? BMO Focus  PDF
81% afflicted with housing depression Chicago Tribune
The U.S. Housing Bill: Helpful, But... BCA Research
Many brokers risk loss of license AP
How One Borrower Beat the Foreclosure Machine NYT (Morgenson)
Credit Crunch Watch Oxford Economics PDF
The Goldman Sachs Forensic Analysis Middleton
Chrysler to get out of leasing business   AP
GM says US-made Buicks ready to roll to China AFP
Will effects of downturn hit Disney? MW
China Makes Wal-Mart Toe the Labor Line Business Week
Change in Arbitration Panels Will Allow Investors Only NYT (Morgenson)
Electronic traders shake up old school FP
"Market Monitor" -James Stack, President of Stack Financial Management NBR Transcript
Investing in America’s Infrastructure: From Bridges to Broadband Brookings
PM Summer Doldrums Zeal
Gasoline drops below $4 a gallon on average, AAA says Reuters
This Time, It's Different WP
Global Pressures Have Converged to Forge a New Oil Reality
How Commodities Impact Earnings TheStreet
Rising Feed Costs Sock Poultry Giants WP
Where have all the Chinese IPOs gone? Reuters
Recessions are hard to forcast but one is coming to the UK Telegraph
As the economy wilts, prudence on public borrowing is exposed as a sham Warner
Eurozone mortgage lending at record low FT
Further Evidence of Serious Housing Market Weakness Likely in U.K. Global Insight
Canadian Central bank to take riskier assets as collateral G&M
Indonesia: Progressing, But not Fast Enough Asia Sentinel

Weekly Trends Scotia Week in Review NTrust PDFs

Friday July 25, 2008
Fannie, Freddie Subordinated Debt Totaling $19.2 Billion May Be Cut by S&P   BL
Russian Stock Markets Plunge Reuters
“The last train carrying the optimists out of Russian equities has just left the station.”
RTS Enters Bear Market After Putin Rebukes Mechel BL
Putin Attack Sends Mechel Plummeting Moscow Times
Banks brace for more pain CNN
Consumer Confidence Rebounds From 28-Year Low Reuters
U.S. Durable-Goods Orders Unexpectedly Rise as Exports Help Manufacturers   BL  Census
U.S. banks primary borrowings from Fed biggest ever Reuters
“Who else is going to lend to them?”
Mooooooo! PIMCO (Gross)
Nearly 1 trillion dollars of losses will finally mark the gravestone of this housing bubble
The Paradox of Deleveraging PIMCO (McCulley)
Rally between the "Concern Stage" and "Fear & Capitulation Stage" Comstock
This Bear Market May Have More Bite Dorfman
Stocks face longer bear market as more tap nest eggs Reuters
Banking on Foolishness - Financial Spinsters At It Again Puplava
Systemic Risk and Financial Markets Fed Geithner
"The Mother of All Bailouts" Ron Paul Video
It's Always Darkest Before the Dawn...of a Depression Green Faucet
After the final crisis plays itself out will the mantra "We are all Keynesians now" be replaced by "We are all Austrians now”?
The Debt Trap NYT
A series about the surge in consumer debt and the lenders who made it possible.
By Land and Sea: Autos, Boats, and RV Chartbook Wachovia PDF
Schwarzenegger threatens minimum wage for workers AP
California Solution for Budget Crisis: Minimum Wage and Laying off People Dr. HB
But Who Will Buy the $500,000 Foreclosures?
Back to school -- economics school MW
Strain on household budgets will cut into apparel, dorm spending this year
Short interest jumps on Nasdaq, hits NYSE record Reuters  NYSE - NAS
Cox: Intend To Extend Short-Sale Rules Marketwide Dow Jones
The SEC also is revisiting price tests for short sales other than the so- called "tick test" which it abolished last year
Obama, McCain Back Bernanke, Likely to Avoid Intruding on Fed BL
The Big Mac Index - Sandwiched Economist  Graphic
U.S. Financial Data, July 24 Issue FRBSL
Foreclosure filings up 120% CNN
Analyst: WaMu's unsecured creditors pulling out AP
WaMu Offering Great CD Rates and Encouraging People to Come in Person? MyBudget360
Spreads imply a roughly 50% chance of default in five years or a 24% chance in one year...
Debt crisis spreads to credit cards Reuters
Even as Washington Mutual Inc lost billions of dollars from risky mortgages, the largest US savings and loan could rely on its credit card business to turn a profit. No longer.
Lehman Mulls Sale of Neuberger: Sources CNBC
Insurer Collapse Means Buying Muni Bonds in the Raw Mysak
Muni bond sector forced into rethink FT
“The two triple As left standing are now in question”
S&P warns on traditional loan book losses FT
5 big losers in the banking crisis Jubak
Balance sheet sleight of hand means U.S. banking crisis far from over G&M
Fannie Mae and Freddie Mac: A Fall from Grace Mesirow Financial  PDF
Why we tolerate bailouts Fortune
The Fannie-Freddie rescue draws only muted criticism, as Americans long for a return to the boom years.
Bust Up These Beasts Steve Forbes Fannie’s and Freddie’s free lunch Stiglitz
Amid Turmoil, U.S. Turns Away From Decades of Deregulation WSJ
National Australia Plunges Most Since 1987 Crash as Credit Losses Widen BL
Handling a credit crunch challenge Finance Asia
Emerging debt-Asian bonds weaken Reuters
“Everybody here knows things won't be getting any better any time soon...”
Housing crisis hits exurbs hard CS Monitor
Sales of Foreclosed Homes Are Up Nationwide Business Week
Downtown condo sales slide 15% Boston Globe
Mortgages and retirees don't mix Burns
San Diego sues Bank of America to halt foreclosures Reuters
JP Morgan in talks over HBOS break-up Telegraph
Microsoft says 'weird' Yahoo response killed deal   MW
Humane society, pawnshop among creditors of failed oil firm G&M  SemGroup
Some of those on the list could not explain why they were included.
Wachovia CFO to leave, days after record loss G&M
Reeling from losses, Downey Financial shakes up leadership LA Times
Another Retailer's Close To Collapse NYP
Samsung Elec second-quarter net disappoints, outlook grim Reuters
Hynix to Shut Down U.S. Plant Chosun
Nobody Loves a Three-Year-Old SUV Business Week
New York's Cuomo files lawsuit against UBS LA Times
Quattrone Takes Aim at Hurdles to Going Public NYTD
Bear Market Opportunities Dreman
Is Bill Miller’s Star Waning? NYTD
The 10 most overpaid jobs in the U.S. MW
What’s behind the Slide in Oil and Commodities? Dorsch
World Energy Presents Energy Crisis, A Discussion with Matt Simmons World Energy
Longtime oil bull isn't turning tail yet Brimelow
The Real Question: Should Oil Be Cheap? Business Week
The Energy Challenge: Gassing Up With Garbage   NYT
About 28 small plants are in advanced planning, under construction or, in a handful of cases, already up and running in test mode.
Ethanol production soars, but its allure plummets USAT
Is Water the Oil of the 21st Century? CNBC
The oil speculator sideshow Fortune
Schools eye four-day week to cut fuel costs Reuters
About 100 schools in as many as 16 states have already moved to a four-day school week, many to save money on transportation, heating and cooling.
Traders accused of manipulating oil prices G&M
Asian stocks drop sharply MW
Japan's Consumer Prices Rise at Fastest Pace in 10 Years on Food, Gasoline BL
Liebscher Says ECB Has Room to Raise Interest Rates BL
FSA says slowdown is entering third stage Times Online
Fears of recession grow as Britain stops spending Times Online
Credit crunch: a third would run out of money in fortnight if unable to work Telegraph
House seller's weekly Ł1,000 cut BBC
Mortgage stress to mar yuletide Australian
Down under Economist
The air goes out of one of the last remaining booms
Brazil Stocks Slip Into Bear Market for Second Time in 2 Years BL
Chinese world's top netizen group China Daily
China’s Rumble With Globalization - Part II YALE Global
Japan’s pension pot  - A call to set up a sovereign-wealth fund Economist
Hayward must urgently address the Russian farce, even if it means selling Independent
Ex Cazenove trader faces insider dealing charge Times Online
The Geopolitics of Iran: Holding the Center of a Mountain Fortress Investor Insight

Thursday July 24, 2008
U.S. stocks sink as home sales fall to 10-year low MW
Blue-chip index socked with largest point loss in a month
Sales of U.S. Existing Homes Drop to the Lowest Level in More Than Decade   BL  NAR
CFTC Accuses Optiver Holding of Trying to Manipulate U.S. Energy Markets   BL
Gross Predicts Mortgage Writedowns Will Total $1 Trillion, Reduce Lending   BL
U.S. Initial Jobless Claims Rose More Than Estimated to 406,000 Last Week BL
It's a Rally -- But in a Bear Market Barron’s
Don't bet against the central banks Reuters
“If the currency market is a casino, the central banks are the house”
G7 outlook takes another punch from credit crunch Reuters
Consumers fall further behind financially, study reports USAT
Middle class: 'On the edge'   CNN
How Much More Can Consumers Be Squeezed by Stagnant Income, Skyrocketing Household Costs, and Falling Home Prices? EPI  PDF
Budget gaps triple for '09 Stateline
The drumbeat of bad fiscal news from statehouses is intensifying. States collectively faced deficits of $40.3 billion in writing their current budgets...
Philadelphia Streets Unsafe for Manhole Covers NYT
Federal Minimum Wage Rises to $6.55 Today   AP
Feeling the Pressure? Economist  PDF
The challenge of enhancing return on equity
The Global Bear Market in Equities   Cumberland
"We interrupt regular programming to announce that the United States of America has defaulted …" Part 2 Eurointelligence (Satyajit Das)
We’re economic agents and we’re here to help Price Blog
Optimists Buy IPhones While Pessimists Hoard Gold Gilbert
Sad Refrain: Credit Ratings Still Weak CFO
You Know The Banking System Is Unsound When... Mish
Desperate American banks are selling everything that isn't nailed down Slate (Gross)
Larry Flink On The Credit Crunch FT Video
Blackrock CEO says we haven’t seen bottom of market yet
Fraud and the subprime bubble Asia Times
CIBC sued over subprime investments Financial Post
Utah: Home-sales numbers show bubble bursting Desert News
Woman kills herself before foreclosure AP
Ford Posts $8.7 Billion Loss on Asset Write-downs   AP
Daimler's 2Q Profit Slips to Nearly $2.2 Billion AP
Chrysler to Eliminate 1,000 More Jobs by Sept. 30 BL
Wal-Mart Sells Japan's First Retailer Samurai Bonds Since 1979 BL
Wall Street Shrinks From Competition With Fannie, Freddie in Bear Market BL
What the SEC Really Did on Short Selling Christopher Cox
Even now, retailers see a blue Christmas Chicago Tribune
Crocs Inc. to alert customers to escalator safety AP
Ousted CFO Whistleblower Sues Bank CFO
MBIA, Ambac Sued by Los Angeles on `Unnecessary' Bond Insurance BL
Senate Panel Will Probe a Tax Haven NY Sun
One Grand Cayman House Is Home to 18,500 Firms
Winners and Losers in the Rising Tide of Proxy Wars Wharton
Analyst Dick Bove is the target of a bully   MW
Compensation That's Dangerously High Forbes (Morici)
Gold up on bargain hunting, traders eye US data Reuters
Huge demand for India gold as prices stay soft Reuters
CRB - Commodities Ring Bearish Kitco
Arctic May Hold 90 Billion Barrels of Oil, U.S. Says BL
Hard-hit mining shares offer value Reuters
Hot-rolled steel sheet price rises just 1% Purchasing
Some market insiders think the surge may be peaking
New Zealand Cuts Key Interest Rate BL Brazil raises key interest rate to 13% MW
German Confidence Dives, European Services Shrink as Recession Risk Grows BL
Three-way division on interest rate Times Online
Euroland: Mortgage rate convergence reflects changes in pricing of risk DB Research
Oil Below $120 Will Reverse `BR-IC' Fortunes BL
Shanghai Electric gets nod for IPO Xinhua
Inflation is Asia's problem, not the world's Finance Asia
China’s Rumble With Globalization - Part I YALE Global
Japan's Exports Fall for First Time in Four Years BL
This is Japan Economist
What a 50-year-old periodical tells about how the country has changed—and how it has not
Rock deal looks good for Gary Hoffman but expensive for us Telegraph
State funds could own five percent of firms Reuters

Wednesday July 23, 2008
Fannie, Freddie Rescue Measure Is Approved by U.S. House in 272-152 Vote BL
Gold ends sharply lower as oil falls, dollar gains MW
U.S. economy has slowed since June - Beige Book FED
Fannie, Freddie Rescue Plan May Cost Taxpayers $1 Trillion, Bunning Says BL
John Paulson Will Start Hedge Fund to Profit From Wall Street Capital Woes BL
False Notes from the Fed, the Treasury, and the SEC AEI
GM Falls Further Behind Toyota in Global Sales as U.S. Auto Demand Slumps BL
White House: Bush will sign housing rescue bill AP
House Lawmakers to Vote on Fannie-Freddie Rescue Plan Today BL
Bernanke towers as biggest Fed market mover: study Reuters
U.S. FOMC: Bernanke Against The Hawks BCA Research
Two Fed myths that need debunking Sloan
Bernanke & Co. do not set interest rates, and they're not about to run out of money for bailouts.
Act II of the year of living dangerously: US 2H08 outlook JP Morgan  PDF
No end in sight for economic imbalance, IMF official says USAT
Is U.S. Household Savings Rate Dangerously Low? Encima Global  PDF
It ain't over 'til it's over Harrison
Lessons from the Great Depression StarNews
Debt capitalism self-destructs Asia Times
It won't be over till housing hits bottom Reuters (Saft)
Roubini: Bear Market Only Half Over, But It's Not Armageddon Yahoo Tech Ticker  Video 2
Downunder Daily - Rhythm of Cruelty Miack  PDF
DJIA Historic Bear Markets Ticker Sense
Bush on Economy: 'Wall Street Got Drunk' The Hill
Will the dollar lose its throne? Economic fundamentals vs network effects VOX
Mortgage Applications Slide as Loan Rates Jump   Reuters
The Fannie Mae Gang WSJ
Fannie Mae Unsold $5 Billion Homes Shows Why Shares Bring Investing Peril BL
Cost of Loan Bailout, if Needed, Could Be $25 Billion NYT  CBO Letter
Rescuing Fannie Mae or Freddie is nonsense Arizona Republic
Why Is the Government Guaranteeing Fannie and Freddie's Stock Price? Baker
Woes Afflicting Mortgage Giants Raise Loan Rates NYT
Loan rates are rising because of concern in the financial markets about the future of Fannie and Freddie, which own or guarantee nearly half of the nation’s $12 trillion mortgage market.
Mortgage-Lobby Chief Resigns   WSJ
Assured Review by Moody's Isn't Justified, Ross Says BL
Wilbur Ross takes a beating on Assured Guaranty Fortune
Moody's: More firms found with weakest liquidity AP
Mortgage crisis may be looming for Canada Financial Post
Big banks' dividend gamble Fortune
Regions and Wachovia slash their dividends, but other banks, led by Bank of America, insist they have enough capital.
Death Spiral Financing at WaMu, Merrill Lynch, Citigroup Mish
Financial Stocks Rise Wondrously on Woeful Results   BL
Costco Expects Earnings `Well Below' Estimates; $1 Billion Buyback Planned BL MCD
Sharp fall in profits increases pressure on Yahoo! Times Online
Investors fear that rain in Spain will spread to rest of the Vodafone empire Independent
E*Trade Losses Mount on Credit Woes TheStreet
GE, Abu Dhabi firm in $8 bln joint venture Reuters
Lehman Fault-Finding Points to Last Man Standing as Fuld Stock Languishes BL
SunTrust sells stake in Coke FT
SunTrust, which holds the Coke secret formula in one of its safe deposit boxes, has held Coke shares since 1919...
Schwab's founder stepping down as CEO USAT
The only thing that can really stop the shorts is a full-fledged market recovery Cramer
Critics Question Grounds For SEC Emergency Order DJones A Modest Proposal Butler
Short sales saw big drop in wake of SEC order   MW
Hedge fund sues RBS for €250m withdrawal FT
Majority of economists see McCain better for stocks Reuters
Oil, Gold, Crops Drop as Stronger Dollar Cuts Investors' Commodity Demand   BL
Gold’s strength is the U.S. dollar’s weakness Embry  PDF
Congress Pursues $80 Oil With Trading Limits, Disclosure Rules BL
Speculators Aren’t Driving Up Oil Prices, Report Says NYT  CFTC
Huge oil trading loss sinks energy trader SemGroup   Reuters
$3.2 billion in oil trading losses torpedoed the formerly 12th-largest private U.S. company.
Vespa Anyone? Gas Prices Fuel Surge in Scooters Reuters
Wind Power Heads Out to Sea Credit-Suisse
Global credit crisis takes hold in Japan Telegraph
Chrysler Building May Be Wealth Fund Aberration Pesek
Australia's Quarterly Inflation Accelerates to Fastest Pace in Two Years BL
The bad news bears SMH
Govt unmoved by slow exports China Daily
China gets seat at top WTO table G&M
Brazil boom breeds new generation of millionaires   Reuters
Morgan exec faces insider charges Australian
Differences between Attitudes to Shareholders in America and Japan Smithers

Tuesday July 22, 2008
Stocks Surge as Oil Plunges AP
Pickens Sees $300 Oil Unless U.S. Cuts Imports Reuters
California Foreclosures Soar to 20-year High AP
GM, Ford Motor Are on `the Verge of Bankruptcy,' NYU's Edward Altman Says BL
Fannie, Freddie Rescue May Cost Taxpayers $25 Billion, Budget Office Says BL
The death-knell of Bernankeism Bear’s Lair
Philly Fed's Plosser beats rate-hike drum MW
An obscure market-timing indicator has turned positive Hulbert
A Review of this Bear Market in Context of the Prior Six Wachovia PDF
Money, Credit, Inflation and Deflation Saville
What we learned last week, according to Merrill's David Rosenberg FP
Widespread earnings woes reflect consumer fears Reuters
The breadth of the warnings, which also came from makers of chips and carpets, may signal that the credit crisis is quickly moving beyond housing and banks and into mainstream Corporate America.
Town's bankruptcy filing may be a bad sign for other cities USAT
Women Are Now Equal as Victims of Poor Economy NYT
11 reasons America is the new top socialist economy Farrell  The Sad Road To Socialism
Americans Save $392/year. Consumer Debt is over $2.5T. The Dark Knight of Debt Dr. HB
IMM Positioning: Large increase in net short dollar positions Danske PDF
Speculative investors are now net long in all currencies against USD
The Euro: A Tense Anniversary BCA Research
Getting and Spending Stelzer
--
Whatever Happened to Thrift?: Why Americans Don't Save and What to Do about It Amazon
Pimco's Gross Says Fannie, Freddie Need Treasury BL
“Let's be blunt: to the extent the Treasury suggests they'll never have to use their authority, that's a sham”
Fannie, Freddie May Record More Losses on Subprime, Alt-A Debt, Ofheo Says BL
Fortress Looks for the Bottom, Again WSJ
Firm Bet Mortgage Bonds 3 Months Ago; Wrong Then, but Might It Be Right Now?
WaMu Shows Paulson Plan for Mortgage Market Rescue Provides Investor Peril BL
U.S. on 'right path' to end of turmoil: Paulson MW
Hedge funds shop around for financing WSK (Complete via Google jump)
Credit crisis prompts a reluctance to rely on prime brokers
Banks Worried About EU Plans for Tighter Credit Rules Spiegel
Credit crunch: still a way to go on home loans Times Online
Darling Says Global Credit Crunch `More Profound' Than Expected BL
Japan real estate stocks fall after Zephyr collapse Reuters
Ill wind for developers as Zephyr folds FT
Icelandic CDS costs surge again FT
Caterpillar's 2Q Profit Jumps 34 Percent AP
Vodafone Scales Back Annual Sales Forecast, Citing Economy; Shares Plummet   BL
Ericsson Profit Declines 70%, Missing Estimates, on Job Cuts, Phone Demand   BL
Hedge funds may have made more than Ł1bn from shorting shares in HBOS Independent
Underwriters stuck with Ł2.6bn of stock after rights issue Independent
Wall Street unnerved by Apple results Times Online
AmEX feels consumers' pain Fortune  AmEx: "Super Prime" Problems Calculated Risk
Past-due loans spike at the financial services giant as even more affluent U.S. consumers start to show signs of economic distress.
Wachovia to exit wholesale mortgage business   CNN
Ford Expands Buyout Offers to Most of Its U.S. Plants BL
Bank of America: Doubts Remain Business Week
Gloomy Days Ahead for Retailers   Business Week
If sales weaken further after the stimulus checks are spent, a wave of bankruptcies may be forthcoming
Mervyns may file for bankruptcy, sources say LA Times
Yahoo's Yang Saddled With Declining Profit, Divided Board After Icahn Row   BL
IBM offloads $77 million of Lenovo shares Finance Asia
Sony Ericsson to Lay Off 2,000 BW
NY governor sees Wall Street bonus cuts Reuters
Gold Longs Match Record UBS
Ranking the Top Commodity Exporters Morgan Stanley
Will capacity problems push commodity prices higher? Oxford Economics PDF
Oil Falls as Tropical Storm Dolly Forecast to Miss Crude Production Areas BL
Why the oil crunch may grow worse LA Times
These may be 'the good old days,' one expert says
There May Be Oil Offshore, But... Business Week
Offshore oil: What's really out there? Fortune
Feds to propose rules for squeezing oil from rock AP
Rising oil, food prices pose serious challenge: ASEAN AFP
Vietnam hikes petrol prices by over 30 pct AFP
Discount plan to boost gold futures trade Standard
Global Outlook Scotia PDF
UK heading for 'economic horror movie' ThisisMoney
UK heading into recession, Bank of England's Blanchflower warns Telegraph
UK bear market FT
Strike risk as 'golden rule' gets a rethink Telegraph
Spanish builder folds Mcall
The bubble that was once Spain's red-hot property market has emitted its loudest pop yet
Italian Consumer Confidence Drops to Lowest in 15 Years as Food Costs Rise BL
Templeton's Mobius Sees `Good Bargains' After China, India Stocks Decline BL
Donald Trump Jr. Plans $1 Billion Fund for Indian Real Estate Acquisitions BL
Inflation 'to hit Asian growth' BBC  ADB
Is the Party Over in China? Asia Sentinel
Unsold inventories are climbing, the consumers aren’t biting
China's pension fund faces 'grave challenges': state media AFP
China to tighten supervision of share sales Standard
Tens of billions of dollars worth of shares will become freely tradable this year...
Public pension fund takes $920M hit from credit crunch Financial Post
'Mortgages Are Time Bombs for Economy'   Korea Times
General Trading Company goes bust   Independent
TSE suspends futures trading in Topix, bonds due to system glitch AP

Monday July 21, 2008
Gold futures rise as crude oil climbs MW
BofA 2Q Profit Beats Wall Street AP
Monday Morning Outlook: Has the Market Reached a Major-Event Bottom? Schaeffers
Treasury Investors Turn More Bearish as Inflation Risks Rise, Survey Shows BL
How the War, Tax Cuts and the Swaps Market Debased the US Financial System Hussman
The global economy is now at the point of maximum  danger Ambrose Evans-Pritchard
Feds can't fix Fannie and Freddie MSN (Fleck)
Industrials Pegged as Next To Falter Dorfman
Short-sellers bet on stock market crash Guardian
Investors across the world are betting more than 1 trillion dollars on a collapse in stock prices
Don't use VIX as a crystal ball Hulbert
Debt capitalism self-destructs Asia Times
Economists: 2nd half growth likely to be anemic AP NABE
Companies in U.S. Plan to Increase Prices, Limit Hiring to Boost Profits BL
Is America too big to fail? IHT (NYT)
Consumers change buying habits, but will it last? AP
Rising Food, Gas Prices Send More To Food Banks Courant
Throwing Honesty Out the Window WP
We're Asking Too Much of the Fed WSJ
Don’t panic: the economy is still growing Stelzer
Fannie, Freddie, Hank, Ben and the Dollar BBH  PDF
Paulson Braces Public For Tough Times CBS  Video
“Of course the list [of bank failures] is going to grow longer given the stresses we have in the marketplace, given the housing correction. But again, it's a safe banking system, a sound banking system. Our regulators are on top of it...”
Freddie Mac May Cut Mortgage Purchases to Preserve Capital as Losses Rise BL
“They were teed up to be saviors of the mortgage crisis, but now they've got their own capital issues.”
Trouble at Fannie Mae and Freddie Mac Stirs Concern Abroad NYT
“No less than the international perception of the credit quality of the U.S. government is at stake”
Failure could place U.S. economy in peril Tennessean
FDIC faces mortgage mess after running failed bank WSJ
Subprime lender made problem loans on regulators' watch
They gave ordinary Americans a home. And then the roof fell in Independent
An ideal born in the depression could cause another one
Housing prices still out of reach for many AP
Southern California Half Off Sale: 11 Zip Codes with 50% Price Drops MyBudget 360
House prices could fall for two years: Citigroup Reuters
Public funds needed to resolve financial crisis - and taxpayer will pick up the bill King
U.K. Takeovers to Drop for Another 15 Months on Credit Crunch, Survey Says BL
Regional US banks in fears of cash calls FT
Bank of America Earnings Drop Less Than Analysts' Estimates on Loan Losses   BL
Citigroup Unravels as Reed Regrets Broken Weill Bank Model Pandit Defends BL
Regulators thwart 'bear raids' on stocks USAT
Bank earnings - The `V`, `U` or `L` Recovery Business Standard (Das)
Have banks bottomed out? Chicago Tribune
Banker leaves Goldman Sachs to aid Paulson WSJ
Wall Street Can't Say Thain's $89 Million Montag Helps Merrill Investors BL
Oil Rebounds From Six-Week Low as Storm Nears Mexico, Iran Tensions Simmer   BL
Gold futures gain on lower dollar, rising oil prices MW
Gold Shines Again Amid Banks' Ruins TheStreet Video
Gas stays away from record CNN
Jamaica eyes penalties for scrap metal thieves AP
UK property downslide is picking up speed Telegraph
Recession next year: forecaster says things can only get worse   Independent
The nature of bank lending lies at the heart of the UK's recession risk Bootle
Big companies delay suppliers' cash Times Online
Australian Dollar May `Free Fall,' Koukoulas Says BL
Global slowdown to linger AAP
Failure to agree trade deal could trigger '1930s-style' disaster Irish Times
Iran must meet deadline or face sanctions: Rice MW

Weekend Edition (July 19-20, 2008)
Key U.S. Data Releases and Events GInsight Merk Week Ahead - FX Preview
Stocks face heavy earnings week with new hopeStocks in focus for Monday   MW
The Week Ahead: One Mo' Time CIBC PDF
The Crisis Is Upon Us Paul
There are reasons to believe this coming crisis is different and bigger than any the world has ever experienced...
The World Will Not End Mauldin  PDF
Why No Outrage? James Grant
Given a Shovel, Digging Deeper Into Debt Morgenson  Borrowers and Bankers: A Great Divide
Uncomfortable Answers to Questions on the Economy NYT
Fed's Stern Says Interest-Rate Rise `Can't Wait' Until Markets Stabilize BL
Commentary: Why the Fed Should Be Buying Dollars CNBC
Armed and Dangerous Schiff Noland
Riding it out to rock bottom Mogambo
Market Sentiment Hits Extreme Low Schwab Market Perspective
Equity Prices of Major World Markets in Pictures Northern Trust PDF
Chart Spotlight - Disaster Averted, So Far Swenlin
Bear market bites CalPERS and CalSTRS pension funds LA Times
Dissolve Fannie And Freddie Merk
The house that IndyMac built G&M
IndyMac Bank: Bank Failure, Long Lines, and a Real Home of Genius Dr. HB
Concern Mounts About FDIC Deposit Fund RTT
Can the FDIC prevent the meltdown of America's banking industry? Slate (Gross)
Credit Crunch Watch Oxford Economics PDF
U.S. Financial Data, July 18 Issue   FRBSL
EU files fresh anti-trust charges against Intel AFP
Freddie chief's salary jackpot Fortune
A stone for Chris Cox Asia Times
Businesses brace for minimum wage hike CNN
John Templeton Economist
silberinfo Interview with United States Mint SilverSeek
Oil markets search for signs of a bubble bursting   AP
Karachi stock market makes gains after 15 bearish sessions Daily Times
--
Pakistan's Stock-Market Meltdown TIME Days of Rage International News
Asia Flirts With the Inflation Devil Asia Sentinel
The region’s governments prefer handouts and cheap money to sound policies to contain inflation
UK House prices tipped to fall 20% in two years Times Online
Real Estate Crisis Threatens Spanish Economy Spiegel
Nowhere else in Europe in the last decade did the construction sector boom as it did in Spain: Real estate prices shot up by as much as 500 percent.
UK may face budget deficit of Ł100bn   Telegraph
Public borrowing hits record high Independent
Confirmed: the lunatics are running the asylum Telegraph
No major letup expected in tightening policy: economists China Daily
Regulators' measures destabilising, says Chinese exchange AFP
The report, which analysed irregularities in China's stock market last year, was briefly published Wednesday on the Shenzhen exchange's website, but was then removed.
China loses WTO car parts case against US AFP
Costs Rise for Tata's Cheap Car Business Week
Canadian Household Finances: Fine for Now BMO Weekly Focus PDF
How to spend it - Commodity and non-commodity SWFs DB Research  PDF
Qatar now Barclays’ biggest shareholder FT
Iraq Leader Maliki Supports Obama's Withdrawal Plans Spiegel

Research Monthly Credit-Suisse  Weekly Trends Scotia   Week in Review NTrust PDFs

Friday July 18, 2008
Oil prices tumble in biggest weekly drop ever AP
U.S. Stocks Snap Six-Week Losing Streak on Bank Earnings, Led by Citigroup BL
Glum Consumers Focus on Cutting Debt, Savings Reuters
Blackstone Risks Return From Hedge Funds as Bank Lending for LBOs Dries Up   BL
All We Are Sayin' Is Give Free Markets a Chance Kasriel  PDF
It's All About Housing Comstock
Rally between Concern Phase and Fear & Capitulation Stage
The Dow at 7,200? Superbear's Scary Roar   Dorfman
Given his grim outlook, the obvious question is, what should investors do?
The Current Bear Market: It Really Is Different This Time Morningstar
Global Inflection Point? Schwabinsights
Inflation dynamics could tip the balance toward U.S. equities.
L-ish Economic Prospects NYT (Krugman)
Got a Fix? Please, Call the Fed NYT (Norris)
Jim Bunning's Capitalism Pitch Is in Strike Zone Baum
Auction Implosion Reaps Fees, Not Scorn, for Dealers Mysak
Crisis and Coherence: Finance Remains Vulnerable PIMCO
FDIC Sets New Rules for U.S. Bank Deposits to Avoid a Systemwide Failure BL
End of illusions Economist
The crisis gripping the world economy and global markets began with America’s deeply flawed system of housing finance
Who's behind the Fannie, Freddie mess   Fortune
Spotlight — GSEs: Calmer Heads Should Eventually Prevail Citi (Free Reg Required) PDF
The GSEs, Financial Conditions and the Fed Morgan Stanley
Fannie says won't tap new credit line Reuters  Freddie mulls sale of up to $10B in stock: WSJ
Fannie and Freddie, damned by a Faustian bargain FT
Fannie Mae, Freddie Debt a Buy Poole Says `Insolvent' BL
IndyMac bank run: A sign of things to come? G&M
Is Your Bank at Risk? Newsweek
A Q&A With FDIC Chairwoman Sheila Bair.
Fear of failureHow to bet on the next bank collapse Economist
Auction Prices Cheyne at 44% Of Face Value WSJ (Complete via Google)
Credit crunch to sting well into next year Reuters
Ackermann says credit crisis end in sight FT
Securitization and the Mortgage Mess WSJ
Housing Starts Jump But Don't Be Fooled   Wachovia  PDF
Are Hedge Funds Root of All Evil Or Convenient Scapegoats? WSJ (Complete via Google)
Citigroup Reports Smaller-Than-Estimated Loss of $2.5 Billion; Shares Gain   BL
Google 2Q letdown raises economic worries AP
Microsoft profit outlook misses view, shares fall   Reuters
Once-immune tech sector catches an economic chill G&M
SEC Poised to Exempt Market-Makers From Emergency Ban on Naked Short Sales   BL
Short Cox Naked Shorts
Yahoo Figures Out that Carl Icahn is a ‘Corporate Agitator’ WSJB
Wall Street meltdown: Media's third-toughest beat MW
Nintendo Wii Reaches Almost 11 Million in U.S. Sales, Surpassing Xbox 360 BL
Will Bill Miller Rise from the Ashes? Morningstar
“Dear Bill….”: A Letter to Bill Miller, Manager, Legg Mason Value Trust Cheap Stocks
The $300 Million Mystery Yacht Revealed WSJB
Gold Heads for First Weekly Loss in Five on Crude Oil, Equities BL
Oil markets: Bottoming out or taking a breather? AP
Speculators and the oil market MiningMx
Oil Down $16 to $130, Everything Wonderful Again: Not Smith Blog
As Price of Corn Rises, Catfish Farms Dry Up NYT
Pakistani Bear Market Has Investors Raging in the Streets NYT  Reuters Video
U.K. Budget Deficit Expands to Widest Since 1946, Pushing Borrowing Higher   BL
Brown and Darling throw prudence to the wind Times Online
Drastic revision of key fiscal rules planned to allow the Government to borrow its way out of Britain’s economic problems
Land of the rising price Economist
Japan has long hoped for a bit of inflation—but not this sort
Boom Times Take Root in Dubai NYT
Carney heralds the end of easy money G&M
ANZ faces biggest credit dangers Australian
Australia's Qantas to cut 1,500 jobs: CEO AFP
Ryanair grounds aircraft with winter cuts Times
Chinese Online Education Provider Seeks U.S. IPO Finance Asia
Pope says world's resources being squandered AP

Thursday July 17, 2008
Merrill Has Larger-Than-Estimated $4.65 Billion Loss; FDS Unit to Be Sold BL
Wachovia Securities Raided in Auction Rate Probe   AP
IMF Gloomy on Growth, Sees Rising Inflation Threat IMF
Manufacturing falls in Philly region for 8th month PFed
U.S. Housing Starts Unexpectedly Jump on New York Construction Code Change BL PDF
Sovereign funds cut exposure to weak dollar FT
There's Nothing Sacrosanct About U.S. AAA Rating Gilbert
The next big wave is breaking Asia Times (Engdahl)
Revisiting Ground Zero & the Spreading Tentacles of a Recession Puplava
Boxed-in Ben Economist
For Ben Bernanke, the Federal Reserve chief, even good news turns out to be bad
Feds fight the fear factor Fortune
But it's hard to see how attempts to shore up investor confidence can work for long while home prices keep falling.
Worst Case Scenario Cornerstone
Tice: S&P 500 to Dive Below 800 Newsmax
Stamps issuers join inflation farce Mogambo  The Sacking of America Schoon
America is the lone bright spot as fund managers flee stocks Ambrose Evans-Pritchard
An unprecedented 41pc now think that a world recession is either likely or very likely. The majority dismiss hopes of double-digit earnings growth next year as "fantasy".
Wall Street's Great Deflation The Nation
It costs what?! Calculating the CPI requires a lot of shopping around LA Times
Ron Paul on Kudlow CNBC Video Paul vs. Bernanke
How Bad Is It? Some Say Crisis Worst Since Great Depression Yahoo Video
California burns through its firefighting funds. Homeowner fees ahead? CS Monitor
Not Even Corzine's Goldman Resume Could Help Him Erase Deficit BL
Run on Washington WSJ
Monetary Trends, August Issue   FRBSL
Pakistani Investors Stone Karachi Exchange as Stocks Plunge BL
“I have lost my life savings in the last 15 days and no one in the government or regulators came to help us”
Banks expected to feel pain until 2010 FT
How Bad Will It Get on Wall Street? Business Week
As the credit crisis grinds on, the prospects for a quick recovery darken
The real reason why bankers feel so gloomy Times Online
We could be on the verge on the greatest slump of all time...
Fannie andFreddie won't fail, but will they lend? Reuters (Saft)
Fannie, Freddie Plan Is Under Siege   WSJ
Fannie, Freddie: Taxpayers on the hook CNN
Contact Your Senator: Say No To Fannie Bailout Mish
Second Liens Still Lurking at Wells Fargo Housing Wire
Need a mortgage now? Bring lots of cash CNN
Bargain hunting picks up as Southern California home values fall further LA Times
Trump Finalizes $100 Million Mansion Sale AP
JPMorgan Net Falls on Writedowns; Shares Rise as Profit Exceeds Estimates   BL
Coca-Cola Profit Falls After Writedown at Bottler BL
Harley Davidson profit tumbles as economy hits sales AP
CIT's Loss Is Bigger Than Analysts Estimated on Sale of Mortgage Business   BL
Companies to Face Pricier Credit CFO
Bank portfolio managers predict investors will demand higher premiums to buy corporate debt in the third quarter.
Goldman accused of spreading rumours about rivals Independent
FBI Investigating IndyMac for Fraudulent Subprime Loans AP
5 Signs Your Bank Is the Next IndyMac Fool
US claims UBS 'colluded' behind secrecy laws Times
Bloomberg Expected to Buy Merrill’s Stake in His Firm NYT
Pity the Poor People Who Have to Fly Coach Class Lewis
Oil extends slide into 3rd day AP
The End of Oil's Boom? Business Week
A 10% correction over the past week could signal the end of a long bull run for crude oil
Peak Oil Is A Done Deal ASPO
The Message and The Meaning Russell
Gold? Sold! IndyStar
Chinese stocks become worst performers, supplanting Vietnam   MW
China's Economic Growth Cools to 10.1%, Adding Pressure to Slow Yuan Gains BL
CPI rises 7.9% in first half of 2008 Xinhua
Japan comes face to face with good and bad inflation FT
Unemployment rising at fastest rate since 1992 Times
HBOS and Wolseley signal further cuts   Independent
Housing sales in major cities fallRate cuts may fail to ease home loan pain Australian
Financial Woes Wallop Korean Households Chosun
Canada Slipped Into Recession Without Anyone Noticing? CP
Iran Pours Cash Into Afghanistan, Seeking Leverage for Conflict With U.S.   BL

Wednesday July 16, 2008
`Misery Index' in U.S. Advances to 15-Year High as Inflation Accelerates   BL
Some at Fed June meeting saw rate hikes coming 'very soon' MW Minutes
Crude loses nearly $7 more MW
Fannie, Freddie Nationalization May Be a Long-Term Option, Bernanke Says   BL
Homebuilder Confidence in U.S. Reaches Record Low as House Values Decline   BL  NAHB
U.S. Consumer Prices Climb the Most in 26 Years as Fuel, Food Costs Jump   BL  CPI
Stock Bear Markets Seen Deepening on Inflation, Credit Concern BL
“What we get on an almost daily basis is a reminder that the credit-market crisis is far from over, and if anything it's taking on new casualties”
US Treasury may have just days to act before foreign patience snaps Pritchard
Crisis Widens BMO  PDF
Wealth destruction is now massive and far from over.
Are big-picture blues priced into the financials?   Harrison
Markets threaten meltdown, but this is primarily an issue of confidence Inde (Warner)
Fed Steps Back From Imaginary Tightening Ledge Baum
Prospects for Fed rate hikes melting away Reuters
Economic pain: 'Payback' for debt-fueled growth? USAT
So this is what a day of reckoning feels like.
Confidence drops in U.S. economic policy: Reuters poll Reuters
Woes deepen for U.S. economy CS Monitor
Bush says banking system 'basically sound,' but his team urges federal intervention.
-- The glum mood pervading Wall Street evoked gallows humor among some. "Get away from that window," James Paulsen, chief investment strategist of Wells Capital Management, wrote in a note to clients. "Don't jump just yet!!!" 
LA Times
Credibility Gap Returns to Financial Markets Barron’s
Doubt, rational or otherwise, threatens to cripple functioning markets.
LA Times: Experts said the chaotic scenes risked touching off runs on other banks
Cops to IndyMac customers: Remain calm or face arrest Daily News Slideshow
Fannie Mae, Freddie Mac May Eliminate Dividend Payments on Mounting Losses   BL
Fannie, Freddie Troubles Are Ominous for Asia Pesek
Fannie Mae, Freddie Mac: Investors Flee Business Week
On the Outside Now, Watching Fannie Falter WP
Terminate Fannie Mae and Freddie Mac Rozeff
Fannie Mae and Freddie Mac: GSEs Finding Their way Back Home with a Bailout Dr. HB
IMF sticks by $1 trillion U.S. subprime fallout Reuters
An Economy Thrown Into Turmoil WP
U.S. Financial Crisis Increasingly Infecting The Rest of the World
Derivatives Signal Bank Funding Difficulties Will Persist BL
Interest-rate derivatives traders are increasingly betting that banks' difficulties shoring up balance sheets won't abate this year.
Buddy, can you spare a billion? Fortune
As housing prices and share prices keep falling, mortgage-heavy banks that need new capital may find few willing investors.
Is Your Cash Safe at the Bank? BofNY
On list of risky banks, Georgia companies dominate AJC
A Mad-As-Hell Trade Barron’s
Consider buying puts on a popular financial-stock ETF?
Convertible bonds tumble amid forced selling FT
Many likely to remain priced out of housing market AP
SEC Subpoenas Wall Street in Widening Hunt for Lehman, Bear `Manipulators'   BL
The SEC Panics Portfolio
'Naked Shorting': Far More Dangerous Than Sexy WP
Brokers Have Shorts Covered, Too NYP
Limits On Short Selling May Have Unintended Consequences Dow Jones
Wells Fargo Profit Beats Estimates on Insurance Revenue, Credit-Card Fees BL INTC
Miner Cleveland-Cliffs buys Alpha Natural Reuters
Toyota to cut 2008 global sales goal 3.6 pct Reuters
Delta Reports $1.04 Billion Loss on Costs for Goodwill Writedown, Job Cuts BL
Ex-Samsung boss gets suspended sentence AFP
IRS to Close Loopholes in U.S. Tax Accords After UBS Banker's Guilty Plea BL
Homeowners Twice Burned as Insurers Cut Back U.S. Policies After Disasters   BL
Gold Falls for First Day in More Than a Week as Crude Oil Drops BL
The Fear Trade UBS
Oilwatch monthly ASPO PDF
OPEC's empty toolkit Fortune
Higher Gas Prices Siphon Away The Stimulus   Wachovia  PDF
Corn, wheat extend losses on oil, weather Reuters
Food prices are now stable, FAO says G&M
U.K. Unemployment Claims Climb Most Since 1992 as Economic Growth Falters   BL
Sliding Into Recession - Economic Tempest Overtakes Europe NYT
Gordon Brown is too busy blaming others instead of taking action Telegraph
Spanish Housing Market Slows Again in Q2, Adding to Economic Gloom Global Insight
Wolseley warns markets to get tougher   Telegraph
OFT threatens banks over account charges Times Online
Cortefiel Plummeting LBO Loans Signal Defaults Across Europe in Retailing BL
Australian Market tumbles to 2-year low Australian
Thailand Raises Rate to Cool Prices; May Act Again BL
Mark Mobius: Beware of Emerging Markets Asian Investor

Tuesday July 15, 2008
Oil Declines More Than $6 on Concern Slower Economy in U.S. to Cut Demand BL
SEC Will Order Curbs on Short Sales of Fannie, Freddie, Brokers, Cox Says BL
The emergency order, to be in effect for 30 days, will bar naked short selling...
Eight 'Lazy Portfolios' to wrestle the now official bear market Farrell
Let's cut the euphemisms, rhetoric and sweet talk: The stock market's been a loser's game.
Bernanke Signals Growth Risks for Economy, `Intensified' Inflation Danger BL Testimony
Analyst warns on Wachovia amid more bank worries AP Whitney on Bloomberg
Retail Sales in U.S. Increased Less Than Forecast in June as Rebates Faded   BL
Inflation at fastest pace in over 25 years AP PPI
Congress to hear Bernanke, Paulson on market strain Reuters
Wall Street's bears are back in charge MSNBC
MSCI World Index May Drop 14% Before Bear Market Ends BL
Dollar Drops to Record Low Against Euro as Credit Losses Erode U.S. Growth   BL
Financial collapse edges closer Bear’s Lair
Bernanke Forecasts Foiled by Fannie-Freddie Rescue BL
Jaws close in on Bernanke Asia Times
The Perils of Paulson WP (Reinhart)
American economic discontent is well-founded Stelzer
Global Money Supply (2008 Update) Hewitt
Here's Why Jefferson County, Alabama, Has to Go Bust Mysak
In Bad Economy, Life is Good for the Repo Man   AP
Recession-Plagued Nation Demands New Bubble To Invest In Onion (Satire?)
Scramble Led to Rescue Plan on Mortgages NYT
The rescue of Fannie Mae and Freddie Mac was hastily arranged after bankers said further erosion of confidence could have a cascading effect.
End the Mortgage Duopoly WSJ (O'Driscoll)
The Saga of Fannie and Freddie Kudlow
Freddie and Fannie not yet out of the woods Independent (Warner)
A Sad Day for U.S. Taxpayers and Investors Ciovacco
Paulson drove plan to shore up Fannie, Freddie WSJ
Paulson's Fannie Test WSJ
Fannie and Freddie: wards of the state G&M
Snow says White House had to bail out mortgage giants or face 'a catastrophe'
If they go belly up, we all will have to pony up AP
Analysts say the economic risks of doing nothing are just too great.
China Will Get Paid for Loving Freddie, Fannie Mukherjee
Japan's Freddie, Fannie exposure totals $56 billion MW
Ackman Shorts Fannie Mae, Freddie Mac, Says He Presented Plan for Overhaul BL
Why Fannie and Freddie Have Doomed Housing Prices, Regardless of Bailouts Smith Blog
Freddie, Fannie, and Curses on FDR Mises
In banking crisis, U.S. steps up CS Monitor
IndyMac reopens, halts foreclosures on its loans WSJ
After IndyMac's failure, which bank could be next? AP
Bank Failure: IndyMac Bank. Lessons from the Great Depression Part XIV Dr. HB
Lehman CEO mulls ways to take bank private: report Reuters
Lehman bidders are thin on the ground, analysts say MW
Lehman's Got a Reluctant Safety Net in Uncle Sam TheStreet
U.S. overseer says IndyMac "safe and sound" Reuters
Bovenzi: “There will be more bank failures”
Anxiety sends regional banks' shares plunging   USAT
DON'T PANIC (Again !) Big Picture
Lessons from Bailout History II RGE
A trillion dollar mean reversion FTA
Hunt for liquidity intensifies as credit dries up Deloitte CFO Survey
How Far Will Housing Prices Fall? Wachovia PDF
GM to cut jobs, raise liquidity by $15 billion Reuters
Midwest Airlines to ax 1,200 jobs Star Tribune
Citigroup CFO says 2-3 years before better returns: report Dow Jones
Is SABMiller Next in the Great Beer Rollup?   Business Week
Hynix May Pay 11 Cents a Share on Rambus Patents; Samsung Likely to Follow BL
Shipping containers become distinctive housing on land USAT
SEC subpoenas over 50 hedge-fund advisers: report Reuters
Ex-banker faces Hong Kong insider charge AP
Gold soars as fears mount over US mortgages MiningMx
Precious Metal’s Relativity To Shine Hook
Oil Rises Above $146 as Falling Dollar Boosts Crude's Appeal BL
Venezuela's Chavez says oil could reach $300 Reuters
Indonesia's answer to rising food prices CS Monitor
BOJ Cuts Growth Forecast, Keeps Interest Rate at 0.5% BL
Inflation rockets to new ten-year high of 3.8% Times Online
Housing market sales lowest in 30 years Times Online
German Investor Confidence Fell More Than Forecast in July to a Record Low BL
New Zealand shares hit three-year-low AFP
China official media signals yuan gains could slow MW
Hong Kong frenzy for Olympics banknotes China Daily
Brazil bucks global economic downturn CS Monitor

Monday July 14, 2008
Stocks decline as worries about financials persist AP
IndyMac borrowers line up in California to withdraw their cash Reuters
Freddie Mac Short-Term Notes Demand Increases; Shares Fall on Paulson Plan BL
Fannie Mae, Freddie Mac Rescue an `Unmitigated Disaster,' Jim Rogers Says   BL
This recession could easily tip into a depression Times Online
Gold ETF Holdings Soar UBS
Monday Morning Outlook: Searching for a Peak in the VIX Schaeffers
Bernanke faces grilling in Congress this week G&M
The 2% Solution   Hussman
Credit fallout is just beginning MSN (Fleck)
Stop worrying, and learn to love the Bear WSJ
Take it from Graham and Buffett, these miserable markets are a gift from the financial gods.
Paulson Puts Treasury Behind Fannie, Freddie in Bid to Calm Market   BL
Plan to save Fannie and FreddiePaulson Statement - FED Statement
Freddie, Fannie CDS spreads tighten after rescue plan Reuters
Welcomes but warnings for Fannie, Freddie rescue plan Reuters
A new American reality: The government as provider Reuters
Government Not Expected to Help More Companies AP
Fannie, Freddie and You NYT (Krugman)
Fannie, Freddie Deflected Risk Warnings WP
Long Protected, Fannie and Freddie Ballooned NYT
Reality Bites 'Economic Fairy Tales'   Dorfman
What would the fashionable investor do now when desperate for returns? King
Bernanke's Keynesianitis could sink the US economy   Jackson
Forget those retirement plans Mogambo
Analysts Say More Banks Will Fail NYT
Schumer Denies Remarks Caused IndyMac's Failure AP
Discounted Mortgage Notes Can Stop Foreclosures   Wasik
ARM resets to hit peak this summer WP
InBev agrees to buy Anheuser for $50 billion Reuters
S.E.C. Warns Wall Street: Stop Spreading the False Rumors NYT
Citigroup's $1.1 Trillion of Mystery Assets Shadows Accounting of Earnings BL
Tensions Escalating in Battle for Yahoo's Board AP
Barrick enters the fray with bid for Cadence Energy G&M
SEC, others, to probe short seller manipulation MW
Gold slips as dollar, markets recover Reuters
What if gold gave a party and everyone came? Brimelow
Weekend at Bernie's - Part II Kitco
Gas and Diesel Hit New Record   CNN
Oil Brings Americans Closer to OPEC Debtor Dependence Supplanting Japanese BL
Lead, Zinc Rise in London as China Output Cuts May Erode Supply BL
Commodities are strong, but which ones are strongest? Mineweb
Asian markets unconvinced by rescue plan FT
China's forex reserves hit 1.8088 trillion dollars: central bank AFP
Japan's 10-Year Bonds Decline as Fannie, Freddie Concern Eases   BL
BOJ starts policy meeting, likely to cut Japan's growth estimate AP
After the highs, house prices could fall back a long way Bootle
Crashes aren't good for us but at least we'll find the floor Independent
Factory gate inflation hits 10 per cent Times Online
Doubts build on China property stocks surge Standard
Bourse braces for US loan fallout Australian
Interest on Home Loans Soars Chosun

Weekened Edition (July 12-13, 2008)
Key U.S. Data Releases and Events Global Insight
Investors set for another tough earnings season AP
Freddie/Fannie Watch: 
Paulson Statement ~ Fannie PR ~ Freddie PR
Crisis Deepens as Big Bank Fails WSJ
‘Second-largest bank failure in U.S. history’ LA Times
http://www.indymacbank.com/FDIC
$1.6 Trillion in Losses and Counting   Mauldin
Monetarists warn of crunch across Atlantic economies Ambrose Evans-Pritchard
The lifeblood of countries' economies is draining away - with grim consequences for us all
Recession: With War or Without It? North
Demand Destruction Stops at the Border Schiff
Decade of No Returns, Part II Ash
Trading Stock Bears Zeal
Effects of the Economic Slowdown on U.S. Personal Income   Global Insight
Investment Bulletin Bedlam PDF
The curse of Bedlam strikes again. An awesome power we cannot control.
Senate passes mortgage rescue plan   AP
The new program would let the FHA insure as much as $300 billion in new mortgages, helping an estimated 400,000 homeowners.  It still faces challenges, however...
The $5 trillion mess Fortune
Fannie Mae and Freddie Mac were created by Congress to help more Americans buy homes. Now their shaky condition threatens the entire housing market.
President Bush moves in as Fannie Mae and Freddie Mac lose value Times
Time to Let Fannie and Freddie Wither? Business Week
How Fallout Could Affect Main Street NYT
The swooning stocks of two giant mortgage companies have consumers wondering about the effect on those buying or selling homes.
Calamity as distressed US mortgage companies head for the buffers Independent
How Fannie met Freddie: The True Hollywood Story of Fannie Mae and Freddie Mac Dr. HB
The Unraveling of the Suburban Fringe Business Week
Most of the overbuilding during the housing bubble took place in outer-ring suburbs. They are also likely the places to be hit worst by the downturn
Housing not just a US problem EDC
Credit Crunch Watch Oxford PDF
In Silicon Valley, a mild-mannered specter haunts Facebook   MW
The Golden State's Not-So-Golden Goose Business Week
Perelman Sues Late Wife Claudia Cohen's Family, Claiming They Cheated Her   BL
Why Buffett Is Buying BL
Tilson Funds Semi Annual Report – 04/30/08 Tilson
NAB warns of US sub-prime bad debts Australian
China says foreign direct investment up 45.6 percent AFP
Fortis Chief Votron Ousted After ABN Takeover Costs, Dividend Cancellation BL
Olympic Shutdowns: German Companies Weigh Legal Action against China Spiegel
Where Is the World Headed? YALE Global
A multipolar world must prepare for a relative decline in US power and the turbulence that may follow

Weekly Trends Scotia Week In Review Northern Trust PDFs

Friday July 11, 2008
Banking regulators close IndyMac AP
U.S. stock indexes tank as crude touches new high MW
Fed can lend to just about anyone MW Bernanke Speech
Fannie, Freddie and even your Aunt Mabel could go to the discount window
Fannie, Freddie Say Capital Levels Are Sufficient to Weather Housing Slump BL
Paulson says he sees no government bailout on the horizon MW
Snow Says Fannie, Freddie Acted Like Hedge Funds, U.S. Should Shun Rescue BL
Fannie, Freddie May Need $77 Billion of Losses Before Any Federal Bailout BL
Economic Report: Consumers still extremely gloomy: Univ. of Mich. survey MW
U.S. Weighs Takeover of Two Mortgage Giants NYT
Under a conservatorship, the shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers.
Anxiety mounts over fate of Fannie, Freddie   CNN
Fannie, Freddie Are Too Big to Fail, Lawmakers Say BL
“In today's world, I don't think it is helpful to discuss any financial institutions and whether they pose systemic risk”
Henry Paulson
U.S. Trade Deficit Unexpectedly Narrows 1.2% to $59.8 Billion on Exports   BL BEA
Housing Bubble Correction Update: Fasten your seat belts, here comes the jobs crash iTulip
"Stagflation" Haunts Global Stock Markets, Buoys Gold Dorsch
Stagflation Sightings Multiply Asia Sentinel
Inflation Protection Overdone? BCA Research
Want rate action from Bernanke? Forget it. G&M
Bernanke: He's Reviewing the Situation North
Will Bernanke Doom the SEC? NY Sun
Fed doesn't want you to get a raise, Crandall says MW
Fed's Yellen: Consumer confidence has "cratered" Reuters
Survival Ideas for a Bear Market Dorfman
Capitalism's Reality Check WP
U.S. Financial Data, July 10 Issue   FRBSL FedViews – June 12, 2008 FRBSF
Loan-Agency Woes Swell From a Trickle to a Torrent NYT
Banking-industry woes once again disrupt the credit markets Economist
Fannie and Freddie Waterfalls Are Too Big to Bail   Mish
Might Fannie & Freddie implode? Denning
And now, for Fannie and Freddie Asia Times
U.S. Adopts Capitalism Lite for Housing Bailout Baum
The Flaws in the FHA Housing Bill WSJ
Only 21% Support Federal Help for Those Facing Foreclosure Rasmussen
The wrecking-ball response Economist
How to deal with a glut of empty homes
Gold futures surge on rising oil, Iran tensions MW
Central Bank Gold Sales At 297 Tons So Far This Year - WGC Dow Jones
Oil Rises More Than $4 to a Record on Speculation Israel May Attack Iran   BL
Sizing up Iran's oil threatOPEC warns against military conflict with Iran IHT
'Israeli warplanes practice in Iraq' JPost
Barak hints at Israel's readiness to strike Iran AP
Singapore commodities exchange in the works Finance Asia
General Electric earnings drop 6%, holds guidance   MW
Citigroup Will Sell German Consumer Unit to Credit Mutuel for $7.7 Billion   BL
Anheuser-Busch Advances on Report InBev Has Increased Offer to $70 a Share   BL
A wave of M&A deals is expected to hit the banking industry—eventually Economist
Buffett's got the fortitude and the funds to get deals done USAT
"Perhaps Berkshire now is the new de facto credit market."
BAE Bribery Probe Proving Saudi Oil Rescues Shareholders From Lost Revenue   BL
Bankers Use Secret Hospitals, Disguised Nurses to Beat Breakdown Stigma   BL
“This has been the busiest early summer I've known in 10 years.”
Tesla's wild ride   Fortune
House price slide is worst in decades Telegraph
Economists claim UK conditions now compare with the Great Depression.
Rising tide of bad debts will flood over banks   Telegraph
Housebuilders forced into desperate measures Times
Threats to sue buyers and offers of free cars are among tactics being adopted by developers
Tiger Trap TIME
Economic Confidence Hangs By a String Chosun
India's Inflation Accelerates to Fastest in More Than 13 Years BL
Japan's Lost Decade Threatens to Be Global Norm Pesek
Finns Ring Up Debts as Gamblers, Party-Goers Send Text Messages for Loans BL
Canadian Economy sheds 5,000 jobs in June G&M
Short-selling costs double as investors are drawn to new strategy Independent
Prosecutors seek seven-year term for former Samsung boss AFP
Livedoor allegedly fails to declare 2.3 bil. yen income AP
Thai Government in Crisis as Key Ministers Ousted Global Insight
Supersize China: Obesity on the Rise Business Week
The Vatican has blamed the weak dollar for pushing it into its first loss in four years Guardian

Thursday July 10, 2008
Bernanke and Paulson: Empower Financial Regulators AP
Paulson Says Fannie, Freddie Regulator Affirms Capital Levels Are Adequate BL
Fannie, Freddie Stocks and Bonds Plummet   Reuters
General Electric Pursues Spinoff, Sale of Consumer & Industrial Division   BL
Dollar maintains strength after big drop in jobless claims MW JClaims
Economic Views With Nouriel Roubini CNBC Video
Pace of Hiring and Recovery of Jobs in Prior Business Cycles NTrust PDF
S&P 500 May Lose Another 12% Before Bear Market Ends BL
Adens see the bear necessities   Brimelow
The Decade of No Returns, Part I Ash
The Psychology of Bernanke: The Great Depression was caused by the Fed... Dr. HB
Granddad, Tell How Capitalism Committed Suicide Gilbert
Credits in a swirl of insanity Mogambo  Kass
Foreign Investors Pile Up More Pieces of Americana NYT
New foundation tackles U.S. federal debt CS Monitor
Minneapolis Fed chief sees inflation as economic obstacle   USAT
U.S. Foreclosures Rose 53% in June, Bank Seizures Almost Triple   BL
Fannie, Freddie `Insolvent' After Losses, Poole Says BL
White House mulls Fannie and Freddie failure Fortune
The Fannie and Freddie doomsday scenario   Fortune
It's time to wonder what would happen if Fannie Mae and Freddie Mac failed.
Devaney's Funds Wiped Out After United Capital Gets Margin Call BL
“We are expecting that there will be no equity remaining”
NYT: Devaney said he had personally lost more than $150 million....
Flashback (Feb 2): Manager Devaney Returns to Subprime After Yacht Sale BL
“Prices have collapsed and this is the best opportunity I've seen in my career”
Wachovia Gets Worse Forbes
Extending the mortgage-crash pain Fortune
Worst of Housing Crisis Is Behind Us -- Really Berry
Housing pain to linger longer AP
Gold extends gains on Middle East tensions G&M
Saudi Oil: A Crude Awakening on Supply? Business Week
The Saudis say they can ramp up production to 12.5 million barrels a day. But a field-by-field breakdown shows that's not likely
Is food the new oil? Finance Asia
Graphic: Where people spend most on food and fuel Economist
Crude Prices: Correction Underway? BCA Research
Output plummets at huge Mexican oilfield FT
China's Aluminum Producers to Cut Output by 10% BL Record High
Chinese Back In Platinum UBS
Dow Agrees to Buy Rohm & Haas for $18.8 Billion With Berkshire Investment   BL
Siphoning G.M.’s Future (Lowenstein)
The man who lost $6 billion Fortune
EDF Battles Hedge Funds, Power Traders to Keep Nuclear Power Data Secret BL
A Little Fair Value Never Killed Anyone CFO
Should Monolines Blame Mark-to-market? CFO
Feds knock; a business is lost USAT
Ten Busted Investing Myths WSJ
Bank of England holds the line on rates Reuters
Economic fears lead to slump in confidence Independent
Consumer confidence has slumped to a record low following chaos in the financial markets, months of misery in the property sector and spiralling household bills.
China Won't Stamp Out Inflation, Revalue Yuan Mukherjee
Japan's Wholesale Prices Climb 5.6% in June, the Fastest Pace in 27 Years   BL
Japan's Bonds Gain on Concern Credit-Market Losses Will Deepen BL
Singapore Economy Grows 1.9%, Slowest Pace in Five Years, on Output Slump   BL
Bovespa Falls 20% From May 20 High, in Bear Market BL
Rx for Canada? Oil off the Boil BMO Focus  PDF
Spain Postpones 15-Year Bond Sale as Inflation Accelerates, Economy Slows BL
Canada tightens mortgage rules to avoid 'bubble' Reuters

Wednesday July 9, 2008
S&P 500 closes in bear market turf MW
Home builders Bovis, Redrow to cut 40% of jobs as sales slump MW
Merrill asset sale size depends on Q2 loss: source AP
Iran Test-Fires Long-Range Missile Able to Reach Israel, State TV Reports BL
The unpublished doubts of mortgage-bond graders LA Times Complete SEC Report
An analyst wrote that her firm’s evaluation methodology did not capture even half of the risk of a certain deal, but added that “it could be structured by cows and we would rate it”
Steinhardt Says Stocks Will Extend Drop on Banks, Oil BL
Phase two of the de-leveraging cycle JP Morgan  PDF
Risk of systemic failure grows as confidence in banks sinks to new low Independent
IMF gloomy on growth, warns on inflation Reuters
The Perfect Storm Returns Morgan Stanley
The “borrowed time” is now running out, and we think a renewed slowdown is coming for the American consumer.
A tale of two downturns Bear’s Lair
It's All Over But the Dating for U.S. Recession Baum
Bernanke's Power Grab NYSun
Government Spending and Inflation Saville
Bearish Economic News from Housing and Small Business Sectors NT PDF
Consumer Spending Slide Killing Madison Avenue   NYP
Consumer spending cutbacks nail retail bonds MW
U.S. Dollar: Next Carry Trade Financing Vehicle? BCA Research
Real Change Paul
Mortgage applications up 7.5% last week: MBA MW
Fannie, Freddie Downgraded by Derivatives Traders on Concerns Over Capital   BL
Fannie Mae and Freddie Mac, ranked Aaa by the world's largest credit-rating companies, are being treated by derivatives traders as if they are rated five levels lower.
Freddie, Fannie: A minefield for recovery CNN
GSE's Falling Into the Abyss Barbera
We're All Homeowners Now, Nationalization of Fannie, Freddie Unavoidable Mish
Mortgage Lender Faces Rush to Withdraw NYTD
IndyMac Wreck Could Lead to S&L Pile-Up TheStreet  IndyMac: Analyst sets $0 target
Ambac’s CDO Woes Seeking Alpha
Fed focus on tri-party repo risk FT
How the credit crisis is affecting banks and other consumer finance businesses TheStreet
Financial Collapse CNBC Video
Cramer: “I think the real bank failures are around the corner...”
A conversation with Jamie Dimon Charlie Rose
Warburg takes bath on MBIA stake NYP
New York's Chrysler Building Is Sold to Abu Dhabi's Sovereign Wealth Fund BL
Paulson: Many foreclosures can’t be prevented AP
Foreclosures' financial strains take toll on kids USAT
Programs to prevent foreclosure don't guarantee success Orlando Sentinel
And Then the Roof Fell In WSJ
-
Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis Amazon
-
Financial Shock: A 360ş Look at the Subprime Mortgage Implosion Amazon
Hedge Funds Have Worst First-Half Performance in 18 Years, Dropping 0.75% BL
Alcoa's 2Q profit sinks 24 percent on higher costs AP
SEC Ratings Probe Reveals Conflicts in Grading Debt BL
Speculative debt defaults rise in 2nd qtr -Moody's Reuters
Would-be investment bankers get set for bruising ride G&M
U.S. regulators probe 2 ex-Credit Suisse brokers: report Reuters
Nelson Peltz, activist marketer Fortune
Gold rebounds on Iran missile test, off two-week low Reuters
Oil Rebounds on Iranian Missile Launches AP
Have commodities peaked? Two-day sell-off spurs talk of a top MW
Commodity Monthly: Where are the physical stocks? Danske PDF
Pelosi to Bush: Release reserve oil CNN
Oil: The New Reality Wyss
Welcome to a world with $500 oil FT
The Sole Silver Price Depressant Butler
Commodity Snapshot Bespoke
Oil sands costs soaring? Add a 'superdome' G&M
Shanghai, Hong Kong soar, as Tokyo comes off highs   MW
U.K. Mortgage Rates Surge, Consumer Confidence Declines as Economy Weakens BL
Thousands of jobs go as the gloom deepens Times Online
Trichet says inflation hits labour markets FT
Japan's Machinery Orders Rose 10.4% in May, 10 Times Faster Than Estimated BL
Japan's bankruptcies rise in first half of 2008: study AFP
Beijing Cooldown?   WSJ
Beijing may see higher vacancy rates and lower rents and sale prices in the months immediately after the Olympics
China Overheating Indicator DB Research
Is the Canadian Dollar Undervalued?   Global Insight  PDF
Lula May Increase Brazil's Take From Oil Fields as Tupi Spurs Rules Review MW
Bring On Mad Max to Make More of Asia's Energy Pesek
Sovereign funds keep mum at meeting on transparency G&M
UAE & Other Gulf Countries Urged to Switch Currency Peg... Frankel
Russia threatens military response to US missile defence deal Times Online

Tuesday July 8, 2008
U.S. stock indexes solidly ahead on oil's big drop MW
John Templeton, pioneer investor, dies at 95 MW
Commodities Decline on Speculation Weaker Global Economy Will Erode Demand   BL
Pending U.S. Home Resales Fell 4.7% in May, More Than Economists Estimated   B NAR
Ecuador's Dollar Bonds Plunge on Default Concern as Finance Minister Quits   BL
The Worst Earnings Season In More Than Twenty-Five Years? 24/7
Mortgage Fears Depress Global Shares NYT
Bernanke says Fed may extend Wall Street lending   Reuters Speech
“We are currently monitoring developments in financial markets closely and considering several options...”
World stocks at 21-month low as banks plunge Reuters
Scary chart of the day (S&P 500) FTA
Quarterly Review and Outlook - Second Quarter 2008 Hoisington
Economic Monitor - July August NB Financial PDF
Stag + Flation = Lots of Trouble BMO NA Outlook PDF
It's a recession: 75% of Americans say CNN  Pawnbroker’s Boom Is Sign of the Times WSJ
“Why It’s a Great Time to Be an Investor” Saut
Fed's Wall Street Lending May Keep It From Raising Interest Rate This Year BL
Dollar is driving Fed's decisions, not the state of the economy Kellner
Summer of Uncertainty Kass
From the bad to the really sinister Mogambo
The City bulls say 'Don't worry'. But you should. MoneyWeek
They Still Don’t Get It Cornerstone
Think the unthinkable. Might bankers have to seek even more rescue capital? Independent
The American Economy is Grim, but At Least We're Not British Stelzer
Time to put the brakes on this runaway train Rogoff
'WALL-E' and Shiller's new 'irrational pessimism' Farrell
G-8 Says Oil, Food Prices Pose Risk to World Economy BL Statement
Fannie, Freddie Capital Concerns Send Bond Risk to 14-Week High   BL
NYT: “If Fannie and Freddie are vulnerable, it means no one is absolutely safe.”
Crisis wipes $1 trillion from financial stocks AP
Bank losses from credit crisis may run to $1,600bn, warns Bridgewater Telegraph
Credit crisis: How safe is your bank? Telegraph
Toxic CDOs Given Up for Dead Coming to Life With Pension Funds BL
Re-Remic stands for “resecuritizations of real estate mortgage investment conduits”
IndyMac stops new loans, to cut work force by half   AP
The Continuous Housing Free Fall Washington Independent
Second quarter the worst for strip mall owners in 30 years Reuters
How the Public Will be the Proud Owner of Toxic Mortgages and Unwanted Housing Dr. HB
Gold futures fall as oil declines, dollar gains MW Gold Longs Leap UBS
Gold timers apparently aren't worried about gold, a bad sign Hulbert
Oil swings down $6 over 2 days AP
The Oil Problem Wachovia PDF
Oil speculation: Why we don't have answers Fortune
The usual suspects: Are financial investors driving up the cost of commodities? FT
Speculation, Swaps and the Price of Crude Oil Infectious Greed
Texas oilman T. Boone Pickens wants to supplant oil with wind USAT
Pickens Sticks with $150 Oil; Could Fall to $100 CNBC
China Shuts More Coal Power Plants; Warns on Shortage bl
CFTC Amends No-Action Letter Issued to the Dubai Mercantile Exchange CFTC
The Onion Ringer WSJ
What happened the last time Congress blamed 'speculators.'
Cost of oil, gas is totally bogus for surfers AP
Microsoft backs Icahn's bid to oust Yahoo board AP
Siemens cutting 16,750 jobs worldwide to cut costs AP
Pension plans suffer huge losses CNN
GM brands, overlapping models are under review Det News
More salaried job cuts possible; company explores ways to raise cash.
Some coffee fans get grim delight in Starbucks woes Reuters
Psst! Hear the Rumor of the Day? NYTD
Debt collectors on the rampage CNN
Needed: Independent Panel To Evaluate SEC Enforcement Program Forbes (Atkins)
Credit-rating agencies to face regulation Times
Wall Street's colorful ways disappearing MW
SEC should investigate Bear collapse: JP Morgan CEO Reuters
Hong Kong plunges, financials front region's retreat   MW
Recession fears send London into bear market Times
Disastrous reports pour in from every sector Times Online British CofC
The bulk of the economy is sliding into a severe downturn
Savills hit as London house prices fall 7.5% Times  Persimmon axes 4,500
RBS calls up 'Captain Mainwaring' managers to guard younger business customers Tele
Bank of Ireland warns on economy and markets MW
Hot money inflow concerns China Daily
The China Hot Money Scam Winter Blog
Korean Won Advances to Two-Week High on Speculation Government Intervened   BL
Pakistani rupee sheds 2.6 pct, hits record closing low Reuters
US exports to Iran increase in Bush years AP
Brown: 'Stop wasting so much food' ~ Brown has eight-course dinner before food crisis talks

Monday July 7, 2008
Freddie, Fannie Plunge on Speculation Firms May Need to Raise $75 Billion   BL
Home Prices Decline in 23 of 25 U.S. Metropolitan Areas, Radar Logic Says BL
Risks and Prospects for the U.S. Economy Yellen
“Things could get worse before they get better”
Next Shock: Currency Crisis? BMO  PDF
Microsoft Open to Yahoo Talks If New Board Is Elected Reuters
Dollar Climbs on Speculation G-8 Leaders Will Support Currency at Meeting   BL
Monday Morning Outlook: Is the VIX Near a Peak? Schaeffers
The Outlook For Inflation and the Likelihood of $60 Oil Hussman
Global economy won't bail out the US MSN (Fleck)
It's time for the central banks to take a lesson in emerging market economics King
A pack of upset bears greet the second half Business Week
Cover: The Bear's Back Barron’s
Could cub grow into a grizzly bear market? USAT
Bear Trap Opens For Resource Stocks WSJ (Complete via Google)
Before stocks hit bottom and turn higher, he expects to get what he calls "GMO" calls from clients -- "Get me out!" He hasn't gotten any yet...
Starbucks, the "Core," and Conventional Mortgages Noland
Is this economy worse than past recessions? MSNBC
Investors' anxiety builds as retirement nest eggs show cracks Boston Globe
In the coming week, millions of ordinary investors will rip open envelopes holding their retirement account statements for the second quarter and cringe.
Bernanke's Emerging-Market Disciples May Heed Volcker BL
TIPS Flunk Inflation Test as Gasoline, Groceries Overtake Government's CPI BL
Commodity prices and inflation - is there a connection? Shostak
The buck doesn't stop here AP
Things in the U.S. sure are tough. Brother, can you spare a euro?
Yes, Stocks Will Rally, but Beware Dorfman
Shadow boxing the apocalypse Brimelow
Veteran Harry Schultz says we're in a "major global upheaval."
Investing, Post-Bush Forbes
Obama, McCain set to duel over economy Reuters
McCain promises to balance budget Politico
Next U.S. president will have hands full with economic woes ARepublic
Ex-Fed president Poole: U.S. must fight inflation SF Chronicle
The Credit Crisis Is Going to Get Worse WSJ
Long a Reliable Profit Source, Dividends Start to Crumble WP
The credit crisis and economic slowdown have become so grave that many companies are chopping dividend payments to their shareholders.
Speculation of Merrill asset sales continues to build MW
The Home-Equity Door Slams Shut Kiplinger
Las Vegas property market hits a losing streak Reuters
Foreclosed homes that just go to pot Chicago Tribune
How foreclosures hit apartment renters MW
Blackrock, Nuveen Sell New Preferred Haunted by Failed Auctions BL
Banking Crisis Will Be Much More Severe Than Expected Reaching $1.6T in Losses Jesse’s
Gold futures fall over 1% as dollar surges vs. rivals MW Gold charts point to $1,000 Reuters
Oil Falls Below $144 With Dollar Strengthening AP
The oil shock is a mortal threat to Asia's trade model Ambrose Evans-Pritchard
BP 's Statistical Review says China's use of energy per unit of gross domestic product is three times that of the US, five times Japan's, and eight times Britain's.
American Energy Policy, Asleep at the Spigot NYT
Diesel Demand May Be Driving Oil Price Berry
Congress tries to tighten commodities loopholes MW
No Sign Of Deleveraging UBS
We have seen no sign of the deleveraging in commodities that would usually be associated with this increase in risk aversion.
Commodity prices spark new crimewave ThisisMoney
A Fund manager's worst nightmare WSJ
Stuck with financial stocks, handlers can only wince; 'I have no choice'
InBev moves to sack Anheuser-Busch board Times
JPMorgan's Marathon Embrace Begins Dimon's Lure of Bear's Lost Hedge Funds BL
Frontline Takes Down Tanker Earnings as Record Oil Reduces Shipping Fees BL
MBIA is paying for its errors Chicago Tribune
GM may cut more jobs MW
The Coming of the Car-Bot Business Week
G-8 Visits Japan as Nikkei Relives Elvis's Debut Pesek  A G8 removed from the real world
U.K. Manufacturing Unexpectedly Contracted 0.5% in May to Eight-Month Low BL
It could be five years before things return to normal Telegraph (Bootle)
New Zealand Consumer Confidence Falls to Record Low on Jobs, Survey Shows BL
Housing braces for further pain Australian
Persimmon cuts jobs as home orders fall Telegraph
B&B shares plunge to new low as investors flee Times
Bank's stock is trading 11p below its rights issue price...
Singapore's property boom cooling: analysts AFP
Gulf states urged to rethink dollar pegs FT

Weekend Edition (July 5-6, 2008)
Key U.S. Data Release and Events   Global Insight
Stock market braces for oil's ever-higher climb   MW
Dow, Nasdaq already reach bear territory as crude marches higher
Dow Jones in Euros Alea
U.S. Presidential Election: Mandate for Change BMO Focus  PDF
Losses in financials, autos paint bleak profit picture MW
"Market Monitor"-James Grant, Editor of "Grant's Interest Rate Observer." NBR Transcript
Treasury's Steel Urges Caution on Extending Safety Net to Investment Banks   BL
How bean counters have hurt your nest egg G&M
Real Estate: Vultures swoop in CNN
Gold: the precious laggard that will hit $2,000 Telegraph
The Good Oil Commonwealth Research  PDF
Why oil prices will rise even higher G&M
An oil addiction, a chronic enabler IHT
Gas prices hold in record territory CNN
Don’t keep on truckin’ Krugman
Companies begin quest for oil, gas off Fla. coast AP
Soft Commodities: Meats Zeal
Most PVC producers boost prices 8˘/lb Purchasing
Rogue trader costs TD G&M
Accounting Plan Would Allow Use of Foreign Rules NYT
A Window in a Smoky Market NYT (Morgenson)
It's Been a Bear of a Year for Berkshire, but Managers Cite the Long View WP
An ill wind is blowing for world's biggest salmon-farm company G&M
BCE, Ontario Teachers' Reach Final Agreement on Sale BL
Market turmoil? It doesn't rattle Warren G&M
Coming week to make for grim reading in the UK Thomson
Spain, Ireland `Thrown to the Wolves' as ECB Lifts Rate to Fight Inflation   BL
Are we headed for a drastic global shipping slowdown? Ambrose Evans-Pritchard
Loan amounts cut over rising prices Times Online
We're riddled with debt... but the cure is a killer Independent
The danger zones of 2008 G&M
The crash of 1974 is a nightmare vision of what could happen to today's Canadian stock market as a result of its domination by commodity stocks
Maple Bond Market Plunges as Investors Avoid Foreign Debt BL
Emerging Markets Briefer: The credibility game intensifies Danske PDF
UK Housing Bust Spells Trouble for Pound Money & Markets
Indian inflation up 11.63 pct, rate hike seen AFP
Treasurer slams gate on Chinese raids Australian
Iran inflation tops 26 percent AFP
Flights begin from China to Taiwan   IHT

Weekly Trends Scotia Weekly Focus Danske Week in Review NTrust PDFs
Review and Preview Morgan Stanley (Wieseman)
Euro Posts Weekly Decline as Economy May Rule Out Interest-Rate Increase   BL

Friday July 4, 2008
High costs hit fireworks producers   CNN
Taking a vacation from our financial woes Stelzer
Happy Holiday Weekend Comstock
The Absolute Return Letter ARP  PDF
Shadow Banking, Private Credit or…?
If the BIS is right, inflation is a more immediate threat than deflation Economist
The Fed Fiddles... Forbes
The price of the Fed’s lifeline is yet to be determined Economist
The Economy? Words Fail Me. WP
Think you're worried about the economy? Phillip Swagel is a wreck.
Outlook Darker as Jobs Are Lost NYT
Bearish battalions Economist
Almost everything that could is going wrong for world stockmarkets
What now, Dow Theorists? Hulbert
Stocks: More Doldrums Ahead Business Week
Market Perspective: Oil Foils Stocks Schwab
Inexperience May Feed the Bubbles NYT (Norris)
The domino effect Economist
Many currencies that are backed by a current-account deficit are now falling just as the dollar has
FX forecast update: To catch a rising tide Danske PDF
U.S. Financial Data, July 3 Issue   FRBSL
LBO Defaults May Climb `Significantly' as Borrowing Costs Rise, BIS Says   BL
--
CGFS issues reports pertinent to the financial turmoil BIS
Banks in Europe Might Need to Raise as Much as $141 Billion, Goldman Says BL UBS
Banks: Everything must go! CNN
B&B shares dive despite shareholder rescue Times
Credit crunch: short and sharp is better than long and drawn-out Times
Housing market seen getting worse Reuters
Oil Falls as Iran Makes `Constructive' Response to Offer on Nuclear Work   BL
Gas scales record $4.10 a gallon CNN
Emerging Asia 'highly vulnerable' to oil surge: ADB AFP
$250 forecast as oil hits a new peak RTE
Era Of Gold Dehedging Ends UBS
Gold Could Hit $1,300 TheStreetvideo
Citigroup says long-term gold price could double or even triple IBT
Old King Coal Forbes
Chinese agree to iron ore price hikes up to 96.5% AP
Lax Real Estate Decisions Hurt Starbucks NYT
Judge Orders Google to Turn Over YouTube Records NYT
Chrysler looks at auto alliance with Chinese AP
9 convicted in Austria fraud case AP
Refco was one of the world's largest commodities brokerages, and prosecutors said BAWAG played a pivotal role in its collapse.
Russia Presses U.S. Bank Over Money Laundering NYT
G-8 leaders face ominous economic woes this year AP
FTSE 100 has worse to come, experts warn Telegraph
British economy falling into American-style slump   IHT
Families turn to credit to cover mortgage bills Times Online
The stock market: how bad can it get? Independent
Cave-in sends Australian market below 5000 Australian
New rules set to stop influx of 'hot money' China Daily
Reassessing China's state-owned enterprises Mckinsey
Pension investments see 5 tril. yen loss in FY07 Yomiuri
Barratt to cut 1,000 jobs in building crisis Times Online Wolseley struggles
M&S house broker cuts profit forecast by 20% Times Online

Thursday July 3, 2008
Stocks Mixed in Abbreviated Holiday Session AP
RBC Strategist: Market 'Eerily' Similar to Early 2001 AP
Concern Grows About Impact of Bank Failures Investors
London pulls back from bear market levels MW
US ISM services index shows contraction in June ~ Prices spike to record high ISM
Euro Declines Against Dollar as Trichet Indicates One Rate Boost Is Enough BL ECB
Gold futures fall, as U.S. dollar rises after jobs data MW
Grant Says 'This Time Is Different' for U.S. Consumers BL Video
U.S. Economy Loses 62,000 Jobs, 6th Straight Drop; Unemployment 5.5%BLS JClaims
U.S. Credit Perspectives - It's Been a Long Time PIMCO (Kiesel)
In 2008, Shades Of October 1987 Forbes
No Bright Light Marking the End of Sub-Par Growth in the U.S. Wachovia PDF
Global Scenarios - July 2008 Danske PDF
Global Equities: Oversold Is Not Enough BCAR
Pick of The Week Bedlam PDF
Global Inflation: The Next Major Obstacle Aden
More bats and a bigger budget Mogambo
To show you what an unimaginative dork Mr Paulson is...
Paulson: inflation becoming top global focus Reuters
Bush's Dollar Maps Loss of Clout to Russia, China at His Final G-8 Summit BL
Soros: "We are in the midst of the worst financial crisis in 30 years" Stern
“We need to start regulating capitalism better. Otherwise, it is going to destroy itself - and we are going to destroy ourselves.”
Lessons to be learnt from the financial crisis FT (Wolf)
UBS's Woes, Lehman's Throes, Dead Derivatives, EU Fix   Gilbert
Global Financial Turmoil and the World Economy Mishkin
Deutsche Bank's Anshu Jain Says Global Credit Crisis Is `By No Means Over'   BL
Municipal Market's `Fire in the Disco' Burns Hospitals, Schools, Cities BL
Hospitals, airports, school districts and local governments around the country have been socked with spiraling interest bills on many of the $80 billion of insured variable-rate bonds.
No Loans at Mountain 1st Means Credit Drying Up at Community Banks in U.S.   BL
UBS May Write Down Another $6.9 Billion, Seek More Capital, Citigroup Says BL
U.K. Banks Plan to Curb All Lending Further BL Credit Conditions Survey
Los Angeles, Miami Foreclosures Double; $5 Billion L.A. Mortgages Go Bad   BL
City Housing Slump May Hit In 2009 NY Sun
Vulture real estate investors swoop in CNN
Mortgage ruling could shock U.S. banking industry Reuters
Arson Rate Surges Across U.S. for Foreclosed Homes Lost to Subprime Crisis BL
The biggest surge of mortgage defaults in seven decades coincides with an increase in blazes in foreclosed properties led by states with the most repossessed homes
Once Super-Wealthy Athletes Losing Their Homes CNBC Video
Gold's rally probably won't get a summer break MW
Oil Advances to Record as Investors Seek Refuge From Stock-Market Declines   BL
OPEC: Iranian Output Would Be Hard To Replace Dow Jones
The great debate on speculation and oil Reuters
Forecast Alert: No Relief from High - and Rising - Oil Prices for Another Year Global Insight
End of the petroleum age Asia Times
City Faces More Anguish at the Pump NY Sun (Dorfman)
The high cost of filling up G&M
India Bans Corn Export to Curb Prices, Boost Supply, Trade Ministry Says BL
Farmland and water-related assets lure funds Reuters
Lehman's Hedge-Fund Deals Leave Public in Dark Weil
Lehman to Issue Stock to Employees to Retain Talent CNBC
How Lehman lost its way Fortune (Sloan)
The Wall St. firm once looked like it would escape the worst of the credit crisis. Now there's talk of a Bear Stearns-like collapse...
LA Times to cut 250 jobs AP Lockheed to cut jobs - UnitedHealth to cut jobs
SEC Plan for Swaps `Securities' Gets Alabama Rebuff Mysak
Ex-UBS broker sues, alleging firm retaliated Boston Globe
Beware the curse of Dick Grasso   MW
Art market may be less rosy than top sales suggest Reuters
ECB hikes rate to 4.25% MW ECB
Sweden raises rates by 1/4 point, sees two more Reuters
Indonesia Raises Key Rate a Third Time to Cool Prices BL
Will Jean-Claude Trichet drive the world off a cliff? Ambrose Evans-Pritchard
Sadly, we are witnessing the sort of strategic errors that turned the recession of 1930 into a global catastrophe.
U.K. Services Contracted Most Since 2001, Banks to Curb Loans BL
High street hit by full force of credit crunch Times Online
Standard of living to fall for at least a year   Telegraph
Investors warned off shares for three years ThisisMoney
Nikkei 225 Beats China, India Even After Longest Rout Since '54 BL
The Right Way to Beat Chinese Inflation Brookings
S.Korea says economy may be headed for stagflation Reuters
The party's over for Canadian spendthrifts Globe & Mail
Consumers won't be spending like ‘drunken sailors' any more
Why the Gulf Is Switching to Coal Spiegel
FSA moves to make hedge funds disclose CfDs   Independent
Samsung faces crisis after chairman quits: executive   AFP
Add locusts to China's list of calamities LA Times
Zimbabwe can't paper over its million-percent inflation anymore WSJ
Under pressure, German company cuts off shipments of blank bank notes to Mugabe.

Dow's bear market run spells trouble for Wall St. Reuters
Based on historical patterns of bear markets, Wall Street's current slide has some ways to go before it plays out.
Take a deep breath, investors: Drama's in store for rest of '08 USAT

Wednesday July 2, 2008
Dow Industrial Average 20% Below October Peak BL
Oil futures mark a record close, then top $144 in Globex trading MW
Fugitive hedge-fund swindler Sam Israel in custody   AP
Merrill, Citigroup Estimates Cut by Oppenheimer's Whitney on Writedowns BL
Factory Orders Post Modest 0.6 Percent Gain in May   AP  Census
Hong Kong exchange will reintroduce gold futures trading MW
Overdue U.S. Home-Equity Credit Lines Climb the Most Since 1987, ABA Says   BL
Buffett's Berkshire Suffers Worst First Half Since 1990 on Insurance Slump BL
ADP shows biggest job loss in nearly 6 years MW
First-half layoff plans up 21% vs. 2007, Challenger Gray says MW
Paulson Calls for Process to Liquidate Failing Firms BL
Elephant Talk Contrary Investor
Deepening Cycle of Job Loss Seen Lasting Into ’09 NYT
Markets calling Bernanke's bluff Reuters (Saft) Danger: Open Trench Barbera
Global Inflation, Economic Slack and Monetary Policy Berner
Why deflation is really possible MoneyWeek
Confused Seas Cornerstone
Obama May Produce $1 Trillion Deficit, Gross Says BL
Rules to Keep Your Skin in Wall Street Massacre BL (Lewis)
The Fed Family Feud Stelzer
Dollar Bursts In Air NYP
Central banks still buy dollars when no one else wants to... Setser
Ten market themes and how they're likely to play out in the second half Harrison
From tulips to $4 gas, 'speculators' are always to blame Barrett
Dispelling the Myths of Summer NYT (Leonhardt)
Fed must prevent wage-price spiral: Lockhart Reuters  Speech
Credit faces further weakness on oil, banks Reuters Credit crisis seen extending into 2009
Write-Downs, Right Down to the Ground WSJ Blog
Resets Peaking on Subprime Loans WP As Foreclosures Escalate NYT
Commercial Loans: Behind the Next Hit WSJ
Vacant homes spread blight in suburb and city alike CS Monitor
Amid housing bust, foreclosures vex communities trying to hold dereliction and crime in check.
Manhattan real estate starts to soften CNN
Manhattan Apartment Sales Record Biggest Second-Quarter Decline Since 1997 BL
REITs Bruised by Credit Crisis WSJ
“People are not expecting the credit market to open anytime soon”
Don't be fooled by lack of bankruptcies Miami Herald
Taylor Wimpey shares crash over funding crisis Times Online
UK's largest housebuilder drops 49% as it admits it may breach its covenants
CDO Creators Seek Redemption, and Profits, From Mortgage Market BL
Starbucks Will Close 600 Stores, Cut 12,000 Jobs; Sees $348 Million Charge BL
Big trouble for Big Three automakers CS Monitor  GM Cut by Merrill
Auto sector bleeds from bite of high fuel G&M
Blockbuster pulls Circuit City bid MW
Grasso Wins Appeal in Suit, Can Keep $190 Million Pay BL
The Wizards of Short-Selling Business Week
Buffett blown away by lunch bid - but it'll still last only three hours G&M
Paulson repeats call for banking overhaul AP
US demands names of UBS customers Times Online
PCAOB Cites "Deficiencies" at PwC CFO
Crude-oil futures edge lower ahead of supply data MW
Middle East war threat rattles oil markets Telegraph
Hunting for oil villains Fortune
The story of the Hunt brothers, who cornered the market on silver in the 1970s, shows why speculators aren't driving up oil prices.
At $9 per gallon, British driving habits change CS Monitor
Surge in the price of oil sparks fears of a food crisis Ambrose Evans-Pritchard
Nikkei 225 revisits decades-old stretch of woes MW
“It's the longest losing streak (the Nikkei has) had since 1965, when the Vietnam War was on”
Falling house prices raise spectre of a crash Times Online
Housing equity withdrawal dives by 64% Times Online
Housing slowdown starts to bite economy hard Reuters
“Things are likely to be even worse than we had previously thought...”
Recession fears as business activity slows Telegraph
Stock market braces for more gloom China Daily
When Chinese investors pumped their savings to fuel a feverish stock market last year few would have thought that their market assets would plummet by nearly 50 percent in half a year
China Equities Start To Bite UBS
China stocks starved for state aid Standard
Shrinking profits force hundreds of Chinese shoe makers to quit AFP
India's Economy Hits the Wall Business Week
Growth is slipping, stocks are down 40%, and foreign stock market investors are fleeing.
The Irish slowdown VOX
M&S stuns as profit warning sparks share plunge Times Online
When Markets Collide: Investment Strategies for the Age of Global Economic Change El-Erian

Tuesday July 1, 2008
Stocks End Choppy Session Higher TheStreet
Gold futures close at two-and-a-half-month high  MW
Rubin Says Global Economy Facing 'Extended Difficulties' BL Video
GM June U.S. sales fall 18.2% to 262,329 vehicles  MW
Ford, Toyota, Nissan U.S. Sales Slump as Trucks Shunned; Honda, VW Rise 1% BL
S&P Cuts Outlook on Some Banks, Other Financials AP
Analysts: Banks Might Need Extra $30B in Capital AP
Fed auctions $75 billion to ease credit stresses AP FED
Oil, Commodity Demand Will Drop as Economic Slowdown Persists, Faber Says  BL  Video
Worker confidence falls in June, survey says MW
For the first time in five years, more workers are at companies that are laying people off than are at companies that are hiring
CIT Group Exits Home Lending Businesses  AP
Gold rises over 1% as dollar falls, oil gains  MW
ECB unveils new gold sales totalling 30 tonnes AFP
U.S. June ISM manufacturing index surprises to upside  ISM
Economic Report: U.S. construction spending down 0.4% in May MW Census
Moody's Says Some Employees Breached Code of Conduct on Evaluating CPDOs   BL
Stocks: New quarter, old fears CNN
Stocks Won't Stay Down—and Investors Don't Like It CNBC Cashin: No Capitulation
Global profit warnings could be next shoe to drop  Reuters
International Economic Trends - Annual Edition, July Issue FRBSL
A Bleak Outlook For June's Jobs  Morici
Inflation fears spark global market rout FT
The End of the Inflation Scare?  Outside The Box
Inflation rears its head Deutsche
A global war on inflation  CS Monitor
Consumer expectations can be more dangerous than inflation G&M
Paul Volcker: central banks should not loose focus on inflation  FEM
Inflation squeezes retirees as more seniors downsize dreams  USAT
Deflationary Hurricanes to Hit U.S. and U.K. Mish
Gloom and Doom? Nah; Just for the U.S.
An interview with Peter Schiff: The U.S. wouldn't be afloat without help.
Investment Flash: Bear Market Insanity Lamont
FX Strategy: IMM positions - Speculative investors now net short JPY Danske
PDF
Wen urges US to stabilize dollar China Daily
Mega-Meltdown poll: 25 major threats to mull ahead of '08 vote Farrell
Debt-Laden Casinos Squeezed by Slowdown  WSJ
Nevada's brothels hit hard times Newsweek
Local and national outbreak of grave robbing St. Louis Post-Dispatch
The Picture of a Credit Crunch Kasriel 
PDF
In the Credit Markets, Relief Rally Gives Way To Renewed Fear  WSJ
Investors Sell Risky Assets Amid Worries About Banks, Bond Insurers, Inflation
Global markets are taking a gloomy view of many struggling financial firms WSJ
U.S. ABS issuance tumbles 81 pct to $123.6 bln in H1 Reuters
Junk Borrowers Squeezed in Europe After Bond Market's Year-Long Shutdown BL
Subprime hurts Sumitomo's asset management Reuters
IndyMac denies that it's close to collapse LA Times
Depositors have been pulling money from the Pasadena-based thrift, whose share price is down 90% this year.
What the Case-Shiller and OFHEO House Price Indices Are - and Are Not - Telling Us GIn
The Next Victim of the Real Estate Crisis  Business Week
As the economy stalls, state and local governments will see less tax revenue roll in. Get ready for cuts in services
Wachovia quits offering risky mortgage loan  AP
Mortgage ruling could shock U.S. banking industry  Reuters
Florida sues Countrywide over mortgages  Reuters
The Moulin Rouge Housing Bubble: 3 Fascinating Stories Dr. HB
The Short View: The Greenspan test FT
Gold Advances in London, Buoyed by Tensions in the Middle East   BL
Precious Metals Upgraded UBS
Oil climbs to $142 a barrel in Asia  AP
Speculation not to blame for oil - report  CNN IEA PDF File
Let’s Shoot the Speculators! Newsweek (Samuelson)
More oil will not bring price down: Saudi king Reuters
Iran says OPEC powerless to reduce oil price-report  Reuters
Oil Is Making Millionaires in North Dakota ABC
School's Out: Let The Summer Begin Simmons 
PDF
Asian customers agree huge iron ore price rise: Rio Tinto  AFP
The biggest Olympic coin ever is 22 pounds of solid gold PP
IPO issuance sinks in first half MW Cringing Quarter for Venture Capitalists NYT
Lenders create a bankruptcy monster  MSN
Second Helping For Bank Shorts Lenzner
Unfortunately, the masters of the universe were wrong
Chrysler to close 1 plant, cut production at 2nd AP
Dollar Thrifty cuts its outlook  Reuters
Brunswick Has Rating Cut to BBB- by Standard & Poor's  BL
Records of UBS's U.S. Clients Sought Under Justice Department Tax Inquiry  BL
Are Bean Counters to Blame?  NYT
A new accounting rule — “an accounting rule!” — partly explains why the American financial system looks so wobbly these days
No New Accounting Rules for Three Years? CFO
Confessions of a Money Manager With Nowhere to Go  Pauly
Seth Klarman Q&A Institutional Investor
Bill Miller finds opportunities in battered financials Asian Investor
Return of the ’70s Weirdos (MSFT)  Newsweek
House Prices in U.K. Have Biggest Annual Drop Since 1992, Nationwide Says  BL
BoE: Mortgages for homebuyers dive 64% Thisismoney
U.K. June Manufacturing Contracts Most Since 2001  BL
UK manufacturing may be heading for recession  Telegraph
Consumers fail to save despite the gloom FT
Europe Poorer in the Face of Rising Prices DW
Inflation expectations hit record high in June Reuters
This is the fourth month in a row that the index has hit a record high
Denmark Enters Recession, GDP Shrinks Quarterly 0.6% BL
Japan's Tankan Business Confidence Falls Less Than Economists Estimated  BL
Developed Nation Equities  Wachovia 
PDF
China's exports threatened by rising costs WSJ
“This is the year when things finally changed”
China to slow yuan's rise, wind down tightening  Reuters
Asia factories push costs on to world's consumers  Reuters
Olympic Pollution, Oil Bubblemania, Give Japan Credit  Pesek
Lift faces fall into liquidation Australian
Zimbabwe - From Hyperinflation to Growth CATO
PDF
North Korea: U.S. Enemy No More  Business Week

Stocks End Quarter Just Above 'Bear' Wsj
U.S. Stocks off $2.1 trillion this year  USAT
AP: “This was the worst first half for the Dow Jones industrials since 1970”
Global stocks close dismal 1st half, outlook grim  R