Weekend Edition (June 21-22, 2008)
Key U.S. Data Releases and Events Global Insights
Stock market comeback faces triple threat MW
Warren Makes a Bet Mauldin
Good Inflation? Noland
The Fed Unreserved Schiff
If the Fed Is So Easy, Why Is the Growth in Money & Credit Aggregates So Weak? Kasriel P
Price Increases Put Pressure on the Fed NYT (Norris)
Can the Fed Answer All the Alarms? NYT (Stein)
Cash Out Of Luck? Pretti
Soros predictis a "superbubble" WSJ
He has cried wolf many times, but this time George Soros says the beast is really upon us.
Technicians see Wall Street on thin ice Reuters
The Hindenburg Omen: Crash Signal In Play Seeking Alpha
Is the stock market headed for a crash? MSN
Revisiting Wall Street's Bias! Harding
Falling knives are always the sharpest Scotsman
Market Perspective: Stocks Held Hostage by Triple Threat Schwab
Banks Trimming Limits for Many on Credit Cards NYT
8 Reasons You Should Not Expect an Inheritance NYT
Predicting the Housing Future: Los Angeles and Orange Counties Dr. HB
New Study: European Housing Bubble Makes U.S.'s Look Tame EW
Speculative Bubbles and Overreaction to Technological Innovation FRBSF (Lansing)
Robert Mundell - An Economist Who Matters WSJ
SLV Silver ETF Zeal
Government Is Sued Over Seizure of Liberty Dollars NY Sun
Saudi Arabia to produce more oil CNN
The country's petroleum minister, Ali I. Al-Naimi, said that the increase will take place in July.
Oil prices soar ahead of Saudi summit Telegraph
Oil summit to urge financial market transparency Reuters
Other OPEC members may join Saudi oil output hike Reuters
Travelers Shift to Rail as Cost of Fuel Rises NYT
Security fears over food and fuel crisis FT
India’s Growth Outstrips Crops NYT
MBIA Says Downgrade Triggers $7.4 Billion in Payments, Collateral Postings BL
How Big a Payday for the Pay Consultants? NYT (Morgenson)
Financial squeeze tightens for Ford Det News
Shareholders take brunt of banks' capital raising AP
Gates without Microsoft Fortune
Higher airfares change the way business travels MW
What Happens if We’re Wrong? NYT
The rise and fall of China's stock market Toronto Star
Chinese equities have lost the equivalent of almost $1.74 trillion (U.S.) in value this year alone.
HBOS shares fall below rights issue price Times Online
FSA crackdown on short-selling fails to prevent shares in the bank slipping below the rights issue price amid new regime
BCE Wins Canada Supreme Court Approval for $51.3 Billion Leveraged Buyout   BL
The New Stagflation BMO Focus  PDF
The Week Ahead: Reversal of Fortunes CIBC PDF
Japan's Five-Year Notes Post Biggest Weekly Gain in 10 Months BL
U.K. Two-Year Government Bonds Have Weekly Gain on Interest Rate Outlook BL
Anatomy of bear markets Business Standard
Blacks under pressure as insurers cut back on credit cover for retailers Independent
Sony shareholders let CEO keep pay secret AFP
SESC pushes for record fine against IHI Asahi
Martian Ice Discovered Beneath Red Soil, NASA Says BL

Weekly Trends Scotia Weekly Focus - 20-27 June 2008 Danske PDFs
Fed to Markets: You Didn't Take Seriously Our Recent Hawkish Comments, Did You? NTP
New Europe Weekly: Central bank credibility - if you don’t have it, build it Danske PDF

Friday June 20, 2008
Stocks in U.S. Decline to Lowest Level in Three Months on Higher Oil Price   BL
Yields on MBIA-Insured Short-Term Muni Debt Almost Double to 9% After Cuts   BL
Mexico's Central Bank Unexpectedly Raises Benchmark Lending Rate to 7.75%   BL
Gold: Don't count on $1,000 CNN
Crude Oil Advances on Weaker Dollar, Report of Israeli Military Exercises BL
A new House effort vs. oil trading CNN
Democratic Congressmen say they'll take another stab at closing loopholes that allow unbridled 'speculation.'
UBS Analyst Cuts Estimates on Fannie Mae AP
Large U.S. Bank Stocks in Capitulation Mode: Merrill Reuters
Energy-Book Frenzy Is a Sign of Speculation in Oil Markets, Birinyi Says BL
Treasuries Gain as Traders Scale Back Bets on Fed Interest-Rate Increases   BL
Moody's Cuts MBIA, Ambac Reuters  The end of MBIA and Ambac? FTA
Merrill May Issue Profit Warning CNBC Ford, GM financial arms may incur writedowns R
U.S. House Approves Iraq, Afghanistan War Funds, Extended Jobless Benefits BLWhite House threatens veto of foreclosure rescue
Is the LEI Biased Upwards Because of Mammoth Decline in Fed Treasury Holdings Kasriel P
Dr. Frankenstein Brews Inflation Expectations Baum
This superbear is a long way from bottom   MoneyWeek
Stock-market towel hasn't been thrown in yet Hulbert
America still has a big current-account deficit. So is the dollar too dear? Economist
US Current Account - Still A Drag On The Dollar Merk
Back to the 1970s? Schwab
Another season of stagflation may lie ahead.
Exploding commodity prices signal future inflation VOX
Will The FOMC Take The Fork In The Road? Barron’s
While the Fed frets over inflation, the fuel for higher prices may be drying up.
Inflation out of control! What to do …   M&M Inflation hits hard in Hawaii
Which is a greater evil, inflation or recession? Times (G. Baker)
Global - Inflation expectations monitor Danske PDF
Can the U.S. Bring Jobs Back from China? Business Week
On the trail of the next big bubble LA Times
Death of America's Suburbs Is Greatly Exaggerated Mysak
State and Local Finance and the Storm Surge of the Housing Bust RGE
Rough patch, downturn, or sideways waffle: They all spell recession CS Monitor
States Feel the Pinch From U.S. Slowdown WSJ (Complete via Google) NGA PR
Economy has some states tangled in 'dire' financial snares   USAT
In weak economy, forgoing $4 lattes for home brews AP Retailers try to thrive...
More consumers, workers shoplift as economy slows USAT
Winnebago net tumbles 73 percent on dismal sales Reuters
Bubbles, risk, crunch and war Asia Times
Are We Too Gloomy? BIG Picture  Smoking and Mirroring Panzner  Steve Keen
Implementing monetary policy in the 2000s: operating procedures in Asia and beyond BIS
U.S. Financial Data, June 19 Issue FRBSL
Oil Steve Forbes Driller Instinct NYT (Krugman)
"It's the Speculators" Goldberg Blaming speculators is fun, easy and wrong Reuters (Saft)
Panic petrol buying in China as prices rise 18% Times Online
Six million could fall into fuel poverty trap Times Online
Here's the drill: Deep-sea oil is plentiful, hard to get; see video   USAT
Big Oil Gives Montana The Brush Crudele
Gold May Rise to $5,000 on Inflation, Schroder Says BL
Not All Metals are Created Equal - Metals Review for 2008 and 2009 (Part I) Lee
Another dry-bulk fleet owner seeks to float Finance Asia
Commodity Pits Driving Monetary Policy BCA Research
Money magnet Economist
Playing the commodities boom, Brazilian-style
Chavez Threatens to Stop Oil to Europe   Reuters
Big brokers threatened by crackdown on shadow banking system MW
Regulators eye $10 trillion market that boomed outside traditional banking
Sachs appeal Economist
Regulation may hurt Goldman Sachs more than the markets seem able to
Bear Stearns H-Fund Prosecutors Reveal `Lot of Evidence' in Fraud Case   BL
Two Sides to Story Define Wall Street in Cioffi's Tale at Bear BL
Prosecutors allege that Tannin, in an April 2007 e-mail to Cioffi, wrote that the “subprime market looks pretty damn ugly'' and could be “toast.''
Cioffi Fund Hoisted in Vodka Toast With Tannin Began Stearns Endgame BL
“Matt said it's either a meltdown or the greatest buying opportunity ever. I'm learning towards the former.” Question of an Asset’s Value
Short Selling - Nasty, brutish and short Economist
A Tale of One City, Two Troubled Banks WSJ
At Yahoo, the Exodus Continues NYT
As BCE ruling nears, stakes have never been higher G&M
Biding time, REIT investors wait for market to rebound P&I
WaMu Slashes 1,200 Jobs   TheStreet
Credit Suisse under fire over trading system Yomiuri
Deloitte Is Protected in "Insolvency" Ruling CFO
Convicted hedge fund swindler on the lam G&M
Sullivan Ouster Shows Insurance Beats Securities as Most Perilous for CEOs BL
UBS Unit Helped U.S. Clients Hide $20 Billion in Assets, Birkenfeld Says BL
The FDIC's Suspicious Marketing Campaign Roseman
No longer just goodies for the top 1% ATimes The Trillion Dollar Meltdown   Amazon
Obama and McCain Spout Economic Nonsense WSJ
Bond Sales Soar in Europe as Companies Plan for Worsening Credit Markets BL
CDS report: Monoline fear drives Crossover through 500bp FTA
India's inflation rate surges to 11.05 pct, 13-year peak AFP
Canadian CPI: Heading Towards 3%   CIBC  PDF
G-8 Dithers While the US Dawdles Asia Sentinel
China Debunks `Domino Theory' in World Markets Pesek
China and the business cycle EconBroswer
Could the phenomenal growth train get derailed?
HBOS warns of sharper fall in house prices Times  Will someone please shut HBOS up Inde
John Lewis sales drop signals income hit Telegraph
Prime Minister Putin Primes the Pump Spiegel
Facebook targets China, world's biggest Web market Reuters
Australia's fourth-richest man charged with lying over cartel   AFP
U.S. says exercise by Israel seemed directed at Iran   IHT
Iran Would Respond to Any Attack by Israel With `Heavy Blow,' Cleric Says BL

Thursday June 19, 2008
A Kind Word for Inflation McCulley
Crime and delusion on Wall Street Fortune
Coming soon to a docket near you: The first criminal case of the credit crunch.
Mortgage fraud probe nets hundreds CNN
RCMP charge former Nortel executives G&M
BCE Appeal Decision: Friday FP
Voters Fed Up With Free-Market Capitalism Kass
Fuel Protests Spread, China to Increase Prices Reuters  Oil Tumbles
Citigroup Will Have `Substantial' Further CDO Writedowns, Crittenden Says BL
Centex exec: "No one who was unemployed ever bought a house”
Huntsman shares tumble 40% on deal troubles MW
Manufacturing in Philadelphia Area Contracts; Leading Indicators Increase BL
Business Outlook Survey ~ Leading Indicators ~ Jobless Claims Decline
The Choking Point? Puplava
Market Opinions Grim as Dow Dips Below 12,000 NY Sun
Goldilocks Dumps King, Rejects Ben, Beds Trichet Gilbert
Almost a third of CEOs expect to cut jobs AP
Did the Fed go too far? CNN
With Bernanke & Co. likely to keep rates steady next week, some argue the economy is worse off because of the Fed's previous big rate cuts.
A Brave New World for Financial Regulation SEC’s Cox
Fed Lays Plans for Investment-Bank Aid When Credit Window Shuts BL
Paulson To Urge New Fed Powers WP
“Our nation has come to expect the Federal Reserve to step in to avert events that pose unacceptable systemic risk”
NYT: Although the speech acknowledges the Fed's role in intervening in moments of turmoil, Paulson also criticizes the idea that markets should expect the Fed to bail out any institution considered too big to fail.
Why the Fed will not raise interest rates Cumberland
Economy Slowing in U.S. While Prices Surge Isn't Your Father's Stagflation BL
Michigan economy setbacks: Job losses, auto sales Det News
Ackman targets another bond insurer   Fortune
Fallout From Bad Loans Rocks Regional Banks NYT
A Home Price Firewall WP (Feldstein)
Rising mortgage rates add to housing woes CS Monitor
Baker: “It is virtually certain that price declines will continue through 2008 and into 2009.”
Brace for other shoe to drop in mortgage mess SBJ
Borrowers one tier above subprime could produce next wave of defaults
Investment in U.S. commercial real estate falls 70%   LA Times
HBOS Says U.K. House Prices to Fall as Much as 9% in 2008, Bad Loans Rise BL
FSA rejects 'American imperialism' Times Online
The Financial Services Authority said that it could veto American efforts to impose regulation on the London oil market
Commodities Continue to Power Ahead BMO  PDF
Deals with Iraq are set to bring oil giants back IHT
Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power.
Not everyone joining herd of oil bulls Brimelow
House Democrats call for nationalization of refineries FOX
McCain calls for building 45 new nuclear reactors AP
Dearth of Ships Delays Drilling of Offshore Oil NYT
Free Trade in Food Is `On the Ropes' Amid Shortages, Price Rise   BL
European Leaders Tinker With Treaty as Soaring Fuel Prices Spur Protesters BL Rogue London trader loses $120 million Times Online
The markdown is thought to relate to short-term trading in credit index options that may date back as far as last year.
Circuit City 1Q Loss Widens, Weak Forecast AP
Kerkorian's Tracinda Buys 40.8 Million More Ford Shares; Stake Is Now 6.5% BL
GM Suspends Large-Truck Program, Reassigns Engineers in Fuel-Economy Shift BL
Fears Buffett is backing Inbev bid for Budweiser has St Louis up in arms Independent
Microsoft's bad moves suggest bad advice MW
Hexion Sues Huntsman to End Merger NYT Dealbook
Huntsman Criticizes Hexion Attempt to Withdraw $10.6 Billion Buyout Offer BL
Hedge Funds Hire From Wall Street as Jobs Disappear, Compensation Declines BL
Why Paul Miller in Virginia Is Smartest of Wall Street's Top Stock Pickers   BL
Popping the Tuition Bubble AEI
Between 1989 and 2005, college costs had increased at double the rate of inflation.
Former Bear Stearns Fund Managers Cioffi, Tannin Arrested in Fraud Probe BL
Asia and Global Stagflation VOX
Fund managers pull out of China and India at a record pace Ambrose Evans-Pritchard
A Partnership of Equals: How Washington Should Respond to China’s Economic Challenge iie
U.K. Retail Sales Unexpectedly Rose in May by Most in at Least Two Decades   BL
Gieve quits as Darling unveils Bank shake-up   Telegraph
Lesson of the 1970s is raise interest rates Warner
China, US to talk for investment accord China Daily
Indonesia issues its biggest ever US dollar bond Finance Asia
Inflation Wallops Low-Income Koreans Chosun
IHI may face record fine of 1.6 billion yen over accounts Yomiuri

Wednesday June 18, 2008
Bush: Lift ban on offshore drilling CNN
'Our nation must produce more oil, and we must start now,"
Obama: NAFTA not so bad after all Fortune
Fitch: Credit risks rising for food, agribusiness sectors MW
FedEx Report: “The operating environment for fiscal 2009 is expected to be very difficult...”
Survey shows fund managers at their most negative in a decade MW
“A net 61% of fund managers believe that the global economy will weaken over the next year, up from 39% taking this view in May.”
RBS issues global stock and credit crash alert Ambrose Evans-Pritchard
“A very nasty period is soon to be upon us - be prepared”
Fed's Bear Stearns Books Look Prime for Cooking BL
The Federal Reserve is just days away from completing the financing for its bailout of Bear Stearns Cos., after which the central bank will have another big decision to make: how to account for it.
N.Y. Fed's private OTC actions under fire Reuters
“The Federal Reserve seems to think it can engage in rule making in secret only with the industry”
Recipe for market meltdown Harrison
The Road To Revulsion Investor Insight
Weary Americans can't fight global inflation Reuters (Saft)
Why We're Gloomier Than The Economy WP (Irwin)
Economic outlook "subprime," no recession: report Reuters
Inflation Promises a Belt-Tightening Era YALE Global
Vaporizing jobs and surging fuel prices may just be the beginning of bigger problems for the US and global economy
The American Consumer: Stronger Now, Weaker Later Berner
Central bank body warns of Great Depression Banking Times
Now’s The Time For You To Take Out That Loan Crudele
Bond yields spiking on inflation fears CNN
Fed: On the horns of a dilemma Wachovia PDF
Bernanke May Regret Rate Cuts as Inflation Rises, Lawson Says BL
Numbers and greed without limit Mogambo
FX Strategy - USD: Flow of funds update, Q1 08 Danske PDF
Accountability and Oversight of US Exchange Rate Policy Peterson Institute
Monetary Trends, July Issue FRBSL
Mortgage refinancing at 2008 low CNN  MBA
Paulson & Co. Founder Says Bank Writedowns, Losses May Reach $1.3 Trillion BL
More big bank dividend cuts lie ahead Fortune
MBIA Debt Is Setting Up a Quandary NYT (Morgenson)
Will regulators will let MBIA, the big bond insurance company, renege on a promise to shore up a crucial unit with $900 million in capital?
Morgan Stanley Earnings Plunge 57% as Trading Declined BL
Fifth Third Will Raise $2 Billion Selling Shares, Assets, Reduce Dividend BL
Thornburg Survival in Doubt, Gets SEC Subpoenas Reuters
Surging U.K. Swap Rates Threaten Housing `Crash’ Gilbert
When Builders Go Broke Business Week
Avoiding a Lennar meltdown SFBG
Why Real Estate Market Is Nowhere Near a Bottom Baum
California Home Market Shows `First Signs' of Recovery, UCLA Report Shows BL
Revisiting the Last California H-Slump: How bad are Things Currently for Housing? Mybudget
Chuck Prince Finds Selling Greenwich Home No Easier Than Managing Subprime BL
Gold futures rise to trade above $893 an ounce MW
Congress takes aim at oil speculators CNN
Are Speculators Driving Commodity Prices Higher? Merrill  PDF
Are oil speculators driving up gas prices? Star-telegram
US watchdog wants City to tighten oil rules Times Online CFTC
The CFTC announced new rules for contracts on the London oil market, without the Financial Service Authority's approval
Myth-makers caught short in oil speculation Asia Times
World Crude Production Has Peaked: Pickens Reuters
Hit by fuel prices motorists look to alternatives Reuters
When Gas Stations Run Out of Gas Business Week
Consumers aren't the only ones getting squeezed at the pump. Many gas station owners can't afford to buy gas either
Bush, Following McCain, Presses Congress to End Offshore Oil Drilling Ban BL
Empty Shelves, Empty Bellies Huffington Post
FedEx steers outlook sharply lower after swinging to loss MW
OfficeMax eliminating 2,700 store positions Chicago Tribune
U.S. Defaults Keep Soaring CFO
Buffett's Berkshire May Bank $600 Million Gain From Anheuser-Busch Sale BL
Cerberus Rues Chrysler Cash Consumption as Nardelli Fails to Arrest Losses BL
Toyota Cuts Tundra Output Again as Truck Sales Slow BL
The man who beat the SEC   Fortune
Astonishing Sentence, Astonishing Scam CFO
Tokyo adds to gains; Shanghai reverses earlier loss, jumps 5% MW
Chinese Stock Fall Will Not Persist: Senior Adviser Reuters
Inflation ties China government's hands as stocks slide Reuters
The bear market may also be damaging China's long-term drive to develop its stock market into an active, stable funding source for companies.
Investors Seek Asian Options to Costly China NYT
U.S. Tells China Subprime Woes Are No Reason to Keep Markets Closed NYT
BoE letter puts the brakes on rate rises Telegraph
Bank vows to bring inflation under control, but it may be too late for the Government Inde
Some Bank of England policymakers considered rate rise Reuters
Europe’s Ivory Tower Politics Merk
Housebuilders scream for help after losing their 'one-way' bet   Telegraph
Deflation generation fears price rises Yomiuri
How Much is That Steel Mill in the Window? Asia Sentinel
National hubris can drive companies in developing countries to pay more than they should for developed-country assets

Tuesday June 17, 2008
U.S. Stocks Fall After Goldman Says Banks May Have to Raise More Capital   BL
Big three central banks tone down rate hike threats Reuters
Kuwait Minister Says Oil Price Is Too High, Should Be Near $100 a Barrel   BL
Goldman Sachs 2Q Beats Wall Street Expectations AP
Iran withdraws $75 billion from Europe: report Reuters
Housing Starts in U.S. Fell 3.3% Last Month to 975,000 Pace, 17-Year Low   BL  Census
U.S. Producer Prices Increased 1.4% in May, More Than Economists Estimated BL BLS
Current account deficit widens to $176.4 billion BEA
U.S. FDIC-insured institutions paying price NB Financial PDF
Morgan Stanley warning as ECB fights Federal Reserve Ambrose Evans-Pritchard
Fed mood tilts away from rate hike bets WSJ
Inflation Creation No Solution Barron’s
What the Fed must do next Kellner
After limiting money-supply growth to fight inflation, Fed should pull significant dollars out of circulation.
Beware of the inflation dragon KC Star
Sustainable Improvement or False Dawn? Berner & Cho
Paulson's China Talks Shift to Focus on Energy as Yuan Rises BL
Booming, China Faults U.S. Policy on the Economy NYT
Americans once scolded the Chinese on mismanaging their economy. But in recent weeks, the fingers have been wagging in the other direction.
US, China firms sign whopping 13.6 billion dollar deals AFP
A phantom increase in income Mogambo
The Fed and the strong dollar policy Asia Times (Lui)
Understaffed Fed raises worries CS Monitor
Tent City, U.S.A. Mish
Bankruptcy rising among seniors USAT
11 reasons passive investors let Wall Street steal their money Farrell
Goldman deal could point way for SIVs FT (Free Reg)
Reorganisation of the structured investment vehicle is set to be just the first of a number of deals that could see about $18bn worth of SIV assets restructured in the coming months.
More big bank dividend cuts lie ahead CNN
OSFI head grilled over role in ABCP meltdown FP
Builders grim on housing market CNN  NAHB
Recession fears after housing bubble burst WP
How the bust sparked a panic in Florida and felled a storied bank
Cities sue, invest to stem foreclosures AP
Senators deny deals from Countrywide WP
Senators As Confused Borrowers? Don't Insult Our Intelligence CNBC
NAR overstated Jersey home sales CNBC
The Post Misses the Housing Bubble Yet Again Baker
Hope Now tries to speed home foreclosure aid process USAT
Housing woes hit community banks LA Times
Bonds Beat Brownstones as New York Real Estate Cools Mysak
Want to sell your South Florida home? Be realistic Sun-Sentinel
One Year of Inventory and 27 Percent Annual Drop for Southern California Dr. HB
A Hidden Silver Default? Butler Silver In For A Bumpy Ride UBS
A Monumental Petro-Wealth Transfer Morgan Stanley (Jen)
Revolution as hydrogen-fuel cars roll off production line in Japan Scotsman
Petrol pricey? Japanese invent car that runs on water Reuters  Video
Shoppers set to count rising cost of bananas Times Online
Shakeout roils hedge-fund world WSJ
Just a few years ago, traders found it relatively easy to quit Wall Street jobs, hang out a hedge-fund shingle and cash in. Investors beat down the doors with eagerness reminiscent of the late-1990s dot-com frenzy...
Europe Regulator Targets Rating Agencies CFO
Square milk and mulch from old tires Fortune
Broadcom ex-CEO pleads not guilty in criminal cases   Reuters
Feds: 'Suicide is painless' swindler didn't jump AP
An investor's classic shows its value again FT
The biggest event in the world of investment publishing this year looks certain to be the re-publication of a book that came out almost three-quarters of a century ago.
Who will crash the economy? Blog
Inflation rises to 16-year high of 3.3% Times Online
German Investor Confidence Dropped to 15-Year Low in June, ZEW Index Shows BL
Hang Around 73 Years for Final Check From India   BL
China Factory Investment Rises 25.6% -   Yuan Advances 20% Since End of Dollar Peg BL
Families in a fix as the crunch gets worse Times Online
High street banks, which have been battered by the credit crunch, are asking shareholders for extra cash to plug the gaps
Fixed mortgage rates hit ten-year high ThisisMoney
Baltics - The Euro at the End of the Tunnel Morgan Stanley
Short-selling changes could be first of many in the City, says Darling Guardian
Worries Mount Over Korea Becoming Debtor Nation Chosun
China's massive postquake tasks CS Monitor

Monday June 16, 2008
Treasury's TIC Data Shows Solid Foreign Investment   RTT Treasury
Oil Hits Record Near $140 a Barrel on Dollar AP
McClatchy Will Cut 1,400 Jobs, 10% of Its Workforce, as Advertising Slumps BL
Monday Morning Outlook: Is Another Positive Expiration Week on Tap? Schaeffers
Treasurys advance after New York manufacturing worsens MW
Fed to Markets: "We Ain't Got To Show You No Stinking Credibility" Hussman
The Fed's chief still doesn't get it MSN (Fleck)
The Fed Doesn't Raise Novak
Has the American Dream Become a Fairy Tale? Yahoo
Our Tarnished Titans WP
Troubled Waters Barron’s
Eleven of Wall Street's most insightful investment experts weigh in on the uncertain prospects for the economy, stocks, bonds, commodities and more
Stocks in U.S. Show Negative Return as Inflation Erases Profits BL
Bear Market Worsens as Yields Fail to Match Inflation BL
For the longest period since 1980, U.S. inflation has been higher than what investors earn on 10-year notes, a sign that yields have further to rise.
Bubble alert! Bond Market Could Be Next Bubble To Burst Crudele
We must be cruel to be kind to save the world from a longer-term headache King
Deflation rather than inflation could soon be our big worry Telegraph
Our lousy monetary policy and economic commentary Jackson
Greenback: flab and flex Financial Post
Watanabe, Former Japan Finance Official, Says Dollar Intervention Possible BL
Fiscal Poison Pill NYT (Krugman)
While plenty of people are pawning items, hardly anybody is buying NewsObserver
Credit crisis far from over Reuters
“Who would have considered that the Fed (would) aggressively cut rates, and in addition to that, create all these special facilities for the investment and securities industry, and yet we're still in the state that we're in?”
Deja vu: Summer credit worries on Wall Street AP
Lehman Brothers Reduced Mortgage Assets to $64.7 Billion in Second Quarter BL
HBOS under pressure over property loans Times  Barclays seeks to raise £4bn FT
Credit Crisis Crushing UK Banks Market Oracle
Investors hit $10bn loss in US financials FT
State hit in Bear Stearns collapse Det FP
AIG replaces CEO Sullivan amid subprime woes Reuters
Has the credit crunch hit your home equity line? CS Monitor
Credit Squeezes Tropicana in Las Vegas Where Memory of Elvis Isn't Helping BL
Oil falls, Saudi pushing output to highest since '81 Reuters
High oil prices are based on fundamentals not speculative bubbles Telegraph
Learning From the Oil Shock Newsweek
The world may have arrived at the equivalent of Peak Oil. Old fields are in decline, while governments limit new oil projects
Gazprom CEO's $250 Oil Forecast Brings Doom Only Options Traders Can Love BL
Hong Kong aims to create oil futures market: financial secretary AFP
Commodities speculators have a new darling: dandelions BL
Corn Jumps to Record as Floods in Midwest Threaten U.S. Crops; Soybeans Up   BL
High Food Prices `Are Here to Stay,' Nestle Forecasts BL
Kellogg effectively raises prices on some cereals Reuters
Farmland rush hits the U.S. midwest FP
Price jolt: Electricity bills going up, up, up USAT
Steel costs bring surcharges Crain’s
Auto suppliers brace for hit of up to $250 a ton
Thieves are finding ingenious ways to steal gas from stations, pumps—and your car NewsW
Who knew $3.90 gas smells so sweet? Det FP
Drivers Head To Mexico For Cheaper Gas AP
Nearly Half of Wall St. Bank Profits Are Gone NYT
Analysts see lower Q2 earnings at investment banks Dow Jones
Lehman's Fuld, `Credibility on the Line,' May Face Wary Shareholders Today BL
InBev warns Bud against Corona deal BL
Pension schemes to ‘pull $175bn out of equities’ Financial News
Icahn says Yahoo-Google ad deal has merit Reuters
Icahn lambastes corporate culture, CEOs AP
The Icahn that many never see MW
Lieberman Makes Risky Bet in Speculation-Ban Bid BL
REIT investments up this year despite weak housing market BSun REIT Watch - June 08
Japan police arrest 4 in Lehman loan scam case Dow Jones
Charges May Come Against Ex-Bear Stearns Execs Reuters
Shanghai and Hong Kong snap long weak spell MW
UK faces toughest year since 1992 Telegraph
CBI warns that growth will slow as the housing market reaches tipping point.
Will second round effects be the ECB's WMD? Reuters (Saft)
Inflation in Asia to rise, may endanger growth: ADB AFP
Industrial output up 16% in May Xinhua
Insolvency creeps towards dot-com crash level Times
Malaysian PM warns of 'disaster' unless inflation tackled Thomson
Derivatives diary: Beginning of the last bear market Economic Times
Purchase of Theme Song, a Staple of Canadian Culture, Upsets Hockey Fans NYT

G8 frets over commodity shock, shrinks from action Reuters

Weekend Edition (June 14-15, 2008)
Key U.S. Data Releases and Events Global Insight
G-8 concerned about rising oil prices AP
G8 split over cause of record oil prices Times
Paulson, Lagarde, Kudrin Express Support for `Strong' Dollar at G-8 Talks   BL
Whip Inflation Now Mauldin
SPX Bear Downleg Zeal
Stage II Predicaments Noland Swenlin Harding
House Prices, the Wealth Effect and the Cash-in-Hand Effect Kasriel  PDF
The Recession Continues NTrust PDF
America, The Unaffordable Forbes
The Bubble WP
How homeowners, speculators and Wall Street dealmakers rode a wave of easy money with crippling consequences.
Two Bubbles, Two Paths NYT
Geithner Gets It Right Lenzner
What Next for the Dollar? The Role of Foreigners VOX
Did Large Recalls of Chinese Consumer Goods Lower U.S. Imports from China? FRBSF
U.S. Financial Data, June 13 Issue FRBSL
Barclays looks to Asia to raise £4 billion Times
Move is the latest in a series of capital raisings around the world by banks that have been hit hard by the credit crisis
The worst may be behind for Wall Street - or not AP
Lehman and the liars Asia Times
Stage 2 of the Mortgage Collapse: $500B in Pay Option ARMs Meet the Piper in 08 Dr.  HB
Gas prices hit another record CNN
Plan Would Lift Saudi Oil Output to Highest Ever NYT
Some investors doubt that Saudi Arabia has the capacity to increase its production beyond its current levels.
Oil: Has The Mania Arrived? BCA Research
The cost of the next barrel G&M
IMF says will probe oil market, role of speculators AFP
The Farmer, the Baker, the Banker and the H edge Fund Manager Spiegel
Oil traders fear for London's position Times Online
Capitulation Among the Oil Shorts? To
'World's first' superconducting car Asahi
Approve This Deal, or Else NYT (Morgenson)
Microsoft Offered $35 a Share for $8 Billion Yahoo Stake, Search Purchase   BL
Debt Picture Clouds Private Equity CFO
Ford tells union more cuts needed as market slumps AP
The Search for a Missing Trader Goes Global NYT
Your Money: A Primer for Young People Starting Their First Job   NYT
Stocks see the largest weekly fall since '96 China Daily
Mayhem all round Asia Times
Yuan's rise on trade-weighted basis not rapid enough: US AFP
New global crisis: inflation from Asia Jubak
City shocked by FSA plan to crack down on short selling Independent
Though it suspects abuse, the FSA is not launching an investigation into shorting during rights issues, effectively imposing an amnesty that gives investors a week to clear their positions.
Ireland's vote leaves the euro in limbo yet again Ambrose Evans-Pritchard
Uh Oh…The Price Is Still Wrong BMO Focus  PDF
The Week Ahead: Shots Across the Bow   CIBC  PDF
Livedoor told to pay 9.5 bil. yen compensation Yomiuri
Burnt Babcock faces fire sale Australian
B&B may be forced into a potentially massive fire sale of global infrastructure assets
Endemol lenders try to offload debt Times

Week In Review Northern Trust PDF
Fed talks tough -- and hopes that's all it has to do LA Times
Repeat something enough and people might actually begin to believe it's true.
Corporate Bond Yields Hit Six-Year High CFO
Weekly Trends   Scotia  Weekly Focus - June 13-20, 2008 Danske PDFs

Friday June 13, 2008
Wall Street ends turbulent week with sharp gains AP
Greenspan Says Financial Markets Show `Pronounced Turnaround' Since March BL
Ethanol Plants Shut on Record Corn Price: Citi Reuters
Oil Falls as Saudi Arabia's al-Naimi Says Meeting Will `Stabilize' Prices BL
Consumer Prices in U.S. Rose 0.6% in May, Topping Forecast, on Fuel Costs   BL  BLS
Commodity prices threaten growth, G8 to warn Reuters
Dollar Heads for Biggest Weekly Advance Since 2004 Before G-8 BL
“There are suggestions left, right and center that there will be intervention. Everyone is looking for an extension of this move.”
Dollar grabs spotlight at G8 inflation talks Reuters
Treasury Two-Year Notes Head for Biggest Weekly Loss Since 1982 BL
The new stagflation: an Asian export FT (Roach)
The Return of the Hawks Morgan Stanley
Will the new stagflation persist? EDC
Inflation watch: Get used to high prices CNN
Raising rates would be crazy, forecaster says MW
“I'm baffled by them [Fed officials].  They should just shut up”
Fed, ECB Risk 1987 Rerun With Policy Drift Sesit
Not only did their [Fed and ECB] communication skills leave much to be desired, their policy coordination would have done the Keystone Cops proud.
The ECB Calls Bernanke’s Bluff Dorsch
The Hawkish Illusion: Calling Bernanke’s Bluff Merk
Market Has Irrational Expectations for the Fed Baum
Bernanke, Paulson called to testify on regulation Reuters
Investment firms borrow at steady pace from Fed, banks cut back AP
U.S. Financial Crisis Has Given Capitalism A Black Eye NPQ
Moody's Will Change Municipal Bond Ratings After Pressure From Regulators BL
Investment Bulletin Bedlam PDF
The Macleans.ca Interview: George Soros Macleans
Robert Rubin is NOT a Free Trader (but plays one in the NYT) Baker
A boom amid the bust Economist
Can the success of money funds last?
U.S. Financial Data, June 12 Issue FRBSL
73,000 homes lost to foreclosure in May CNN
Filings for the month jumped by 48%
Housing Chartbook: June 2008 Wachovia PDF
The counterparty's over Economist
Brokers may now be a bigger risk
The credit crunch causes emerging markets to take stock Economist
Merrill Likely to Raise Capital, Post Loss: Lehman Analyst   Reuters
Goldman Sachs, Banks to Sell `Big Brother' Buyout Loans at 27.5% Discount BL
As Banks Shun Loans, Hedge Funds Move In NYT
Yahoo Is `Damaged Goods' After Jerry Yang Fails to Revive Microsoft Deal BL
Microsoft Bid for Yahoo Probed by SEC   Dorfman
Good Times Left Lehman Unprepared for the Bad   NYT (Norris)
Lehman's Callan: Spotlight to Footnote CFO
Hands off our Bud Economist
Never mind the Chinese - here come the Belgians
Americans rally round Anheuser-Busch after takeover bid AFP
Anheuser seeks out a Mexican ally WSJ
Brewer discusses possible combination With Modelo to thwart bid from InBev.
The Coming Euroinvasion Foreign Policy
First they came for the iPods. Then the Europeans snatched up condos in Manhattan. Now they’re coming for the companies.
Investors Want Transparency From Brokers TheStreet
S&P, Following Moody's, Finds Errors in CPDO Ratings Models BL
Gannett Freeze May Spread Pension Chill CFO
Women at Top Find Wall Street `Takes No Prisoners' in Cruz, Callan Ousters BL
Cook Pine Buys Distressed Debt After Betting Against U.S. Mortgage Market BL
Man Questioned in Fund Manager's Disappearance CNBC
Downtown Washington Area Loses Power; White House Using Backup Generators BL
Crude's 697% Rally Passes Dot.Com Craze as Economy Spurs `Bubble' Worries BL
“There's nothing different between this mania, the dot-com mania, the real estate mania, the Dow Jones mania of the 1920s, the South Sea bubble and the Dutch tulip-bulb mania...”
Quo Vadis Energy? (Will Dawn Follow Darkness As Twilight Of Energy Fades?) Simmons P
Congress wary of oil-market speculation CS Monitor
A Bull Market Sees the Worst in Speculators NYT
OPEC cuts oil demand forecast G&M
US watchdog wants curbs on City oil trading Times Online
Will the Hunts buy silver again after selling Hunt Petroleum? ArabianMoney
Dines down ... but not out? Brimelow
Hong Kong stocks lose ground for fourth day MW
Emerging markets face inflation meltdown Ambrose Evans-Pritchard
Russia, Brazil, India, Vietnam, South Africa, Indonesia, Nigeria, and Chile - among others - have all had to raise interest rates or tighten monetary policy in recent days. Most are still behind the curve.
Indian inflation at 7-year high BBC
China CPI rises 7.7% in May Xinhua   Yuan breaks 6.91-mark to hit new high
China Retail Sales Rise 21.6% as Earthquake, Stocks Fail to Cool Spending BL
The Geopolitics Of China Outside The Box
Bank of Japan plays down oil threat as it keeps rates at 0.5% MW
BOJ Is Fake Hawk in Inflation Fight of Fed, ECB Pesek
Now that Japan is getting a little inflation, officials don't like it much better than deflation.
Russians Mine for Gold in Hong Kong Asia Sentinel
FSA to force short-seller disclosure to stop 'abuse' Times
Retailers are latest to feel wrath of markets as sales slide Independent
Litterbin of last resort Economist
The assets being dumped on the ECB do not look very recyclable
Ireland faces two-year recession, ex-central banker says Indpendent.ie
Argentine debt surge raises spectre of default FT
Argentina's debt levels are now higher than they were when it crashed into the biggest sovereign debt default in history in 2001
Flaherty Says Canada May Consider Creating Sovereign Fund With Oil Assets BL
Babcock & Brown Shares Dive as Debt Review Sparks `Crisis of Confidence' BL
Former Samsung boss goes on trial for tax evasion AFP
Arctic sea ice melting faster than expected CS Monitor
US Urges Support for Global Warming Fund   AP
Free-Trade Era May Be Near End as Job, Food, Growth Concerns Fuel Backlash   BL

Thursday June 12, 2008
Yahoo, Google Reach Non-Exclusive Search Ad Deal Reuters
Yahoo ends all talks with Microsoft, shares plunge AP
Lehman's Latest Wild Card Barron’s
U.S. Stocks Rebound From Two-Month Low on Retail Sales; Wal-Mart Advances   BL
Retail Sales in U.S. Rose 1% in May, Twice as Much as Economists Forecast BL Census
U.S. jobless claims jump in latest week MW DOL
Continuing claims highest since February 2004
U.S. import prices climb 2.3% in May MW BLS
Fed's Plosser: Keep Close Watch On Inflation   CNBC
Inflation Forecasts Raised in US, Europe, UK Reuters
Tough love from Bernanke Fortune
Bernanke aggravates trade deficit risks Morici
Can Bernanke Talk the Talk and Walk the Walk? Fool
Everyone's Singing the Same Song Puplava
Inflation Expectations, Market Forecast of Federal Funds Rate, and History NTrust PDF
Economy slipping into recession Reuters Interview
Oil, Unemployment Will Limit Economic Rebound in Coming Year, Survey Shows BL
Not the Worst of All Financial Worlds, But Bad Enough Barron’s
The Return of Stagflation? RealClearPolitics
Dramatic retest of March lows looming Hulbert
The Crack Up Boom, Part II Andros
A National Political Brownout, Part I   Faber
Dope, Dollars, Gold & Deficits Ash
Next up - the credit default swap crisis Asia Times
Thornburg Reports Loss of $3.31 Billion on Real Estate-Related Writedowns BL
Citigroup Will Shut Down Old Lane Hedge Fund as Investors Withdraw Money BL
Home price drop means $4 trillion in lost capital Reuters
Banks in turmoil as HBOS flounders Times Online
Lehman Could Be In Hot Water Forbes
FBI Shifts Agents From Financial Cases to Bolster Attack on Mortgage Fraud BL
Billionaire Lampert bets on housing rebound   Fortune
`Dirt Bonds' Soil Oppenheimer in California Gambits Gone Awry BL
Obama's big fat Countrywide mess Loenard
Gold slips 1.5 pct on firm dollar, softer oil Reuters
Gold Will Recover Stronger And Faster Than Ever Embry  PDF
Crude Oil Falls as Gains in Dollar Reduces Appeal of Commodity Investments BL
Oil is too important to leave to market forces Times Online
Forget oil, look at paper Australian
Corn Climbs to Record on U.S. Floods; Soybeans Advance to Three-Month High BL
Squeezing the most out of a gallon CS Monitor
Putting Loin-Cloth On The Naked Bogeyman Fekete
Venezuela's Chavez predicts oil could reach $200 a barrel AP
InBev courts Anheuser-Busch Reuters
Mining Unseats Financial-Services Industry as Biggest Driver of Global M&A BL
KeyCorp Will Raise $1.5 Billion in Capital, Cut Quarterly Dividend by 50% BL
Hedge-Fund Fraud Convict May Have Faked Suicide AP
Hedge Funds Can Vote at CSX Meeting NYT
Altria Getting Snuffed as Investors Lose Confidence in Smokeless Strategy BL
Size surprise: Consumers pay as grocery portions get smaller USAT
Thousands who earn $200,000+ avoid paying income tax USAT
Shanghai index below 3,000 as region faces sell-off MW
The return of stagflation is an international phenomenon Telegraph
Producer price index up 8.2% in May Xinhua
Liquidity Grows at Fastest Pace in 9 Years Korea Times
India Rate Increase Shows Even BRICs May Slow as Inflation Fight Spreads BL
Mideast credit-card market booms Gulf News
First-time buyer loans slump 36% as deposits jump Times Online
Iceland has worst GDP contraction in almost 5 yrs Reuters
China Is Nowhere Close to Victory on Inflation Mukherjee
China's Tectonic Shift FEER
OTC market central to Tianjin's development   China Daily
A Bet On Chinese Investors Growing Up Forbes
“Chinese investors are increasingly turning their attention to fundamentals
”Doom and gloom' talk could tip us into recession, warns Brown aide TisMoney
Asian Hedge Fund Assets Drop 10% Asian Investor
Ahmadinejad Says Bush Administration Can't Hurt Iran BL

Wednesday June 11, 2008
U.S. stocks fall sharply as crude surge resumes MW
WaMu denies regulatory move rumors as shares fall Reuters
Consumers pinched by high food, energy costs: Fed Reuters  Beige Book
Oil Prices Soar After Energy Department Report AP
Bond Investors Forecast Higher Yields, Falling Dollar as Inflation Rises   BL
Russian Tycoon Buys Stakes in Western Banks: Paper CNBC
Global Confidence Declines as Central Banks Signal Higher Interest Rates   BL
Infectious Exuberance Atlantic (Shiller)
Financial bubbles are like epidemics— and we should treat them both the same way.
Market Mood Swings From `Om' to OMG! and Back   Baum
The Double-Dip Supply Shock Berner
Bernanke Attempts to Prop Up Dollar, but Is Incorrect About Assessment of Economy NT P
Liquidity, Real Assets and the Fed/ECB Endurance BBH
Global Junk Bond Default Rate Doubled in First Five Months RRecap
Ups & Downs at S&P: Stark Edge to Downs CFO
Indicators show record lows in potential upgrades, with record highs in downgrade-ready entities.
Back to the Future—in 1987? Barron’s
The Truth Is No Bull Kass
Three tips for a tough tape Harrison
Can the president do more about the economy? Newsweek (Gross)
Inflation's bite worsens around world   WSJ
Hold CBs to account for high inflation FT Inflation and commodities Lex
Fed hammers home message against inflation Reuters
Concerns on Economy Are Shifting to Inflation NYT
In the past 48 hours, Wall Street has issued a sobering message: The days of easy money from the Federal Reserve are nearly over.
75 bps Fed hike seen by year-end Reuters
Small Bank Credit Woes Begin to Show TheStreet
The Anatomy of a Sick Bank! Boombust Blog
Banks face $10bn monolines charges FT
Crunch forces lending rethink at HSBC Thisismoney
RBS sees no immediate end to credit crunch Times
Libor Overhaul May Fail to Restore Investor Confidence in Benchmark Rate BL
Calls to regulate brokerages like banks MW
Mortgage Bonds Resume Stumble; Some Debt Nears BL
For this broker, foreclosures spell boom CNN
Bad loans turn into game of hot potato DetNews
Foreclosure Nation: More Like Foreclosure States Dr. HB
FHA chief balks at taking on more bad loans CNN
Chrysler Bldg. on the Block NYP
Gold futures rise, as U.S. dollar falls vs. rivals MW
Contrarians continue to be concerned about gold Hulbert
Inflation fears may push gold back to $1,000 G&M
Commodities boom as credit goes bust Finance Asia
Hot commodities Fortune
One enlightened observer who's not worried about a commodities collapse is Jim Rogers...
CFTC in talks to plug the 'London loophole' FT
Gazprom predicts oil will reach $250 FT
BP chairman rejects "apocalyptic" talk of $250 oil   Reuters
Still Petro-dollars RGE
Why higher prices are here to stay Jubak
Gas price 'bubble' could burst this summer Mecury News
Carmakers can't keep up with buyers' hunger for hybrids USAT
Corn prices surge to record high   BBC
Short-Covering Fuels Nickel UBS
Empty oceans, Part 1: How technology bested oceans' bounty CS Monitor 2 ~ 3
InBev-Anheuser deal may stir up China beer boom Reuters
Feds accuse CompuCredit of deceiving customers USAT
Stocks Buffett Would Love Kiplinger
Portfolio Spotlight: T. Boone Pickens TheStreet
Health insurance falling short CS Monitor
Widow of Enron's Lay forks over condo dues in lawsuit USAT
2 New-Style Candidates Hit Old Notes on Economy NYT
Japan's Wholesale Prices Climb at the Fastest Pace in 27 Years BL GDP Revised Higher
Paulson, Bernanke Meet Chinese Inflation Wall Pesek
Facing inflation, Asia gets more aggressive CS Monitor
Inflation-hit Vietnam hikes rates, slightly devalues dong AFP
Canada: It's all about inflation now, folks! Globe & Mail
New warning over French inflation BBC
New Zealand Home Sales Drop to 16-Year Low, Prices Decline on Record Rates   BL
Australia's Consumer Confidence Slumps to 16-Year Low on Record Oil Prices   BL
Housebuilders have lost billions in value Telegraph
Brokers said there was no end in sight to the collapse in the housing market
Investors fear 1990s repeat as U.K. builders slump MW
'Innocent' will lose homes, King warns Independent
Credit crunch to continue while tensions mount with Darling
March to the middle: Merkel celebrates Germany’s social market model FT
President Bush regrets his legacy as man who wanted war Times

Tuesday June 10, 2008
More financial land mines ahead   CNN
Gold futures fall sharply as dollar rises vs. rivals MW
Dollar Climbs to Three-Month High as Bernanke Sees Lower Risks to Economy BL
Pushing for a Fed rate hike...now CNN
There is a small, but growing, school of Fed watchers who think the Fed should shock the markets and raise rates at its next meeting.
Saudis Boost Oil Output: Ministry Sources CNBC
U.S. Trade Gap Widened in April on Record Petroleum Imports   BL  Census
Bank of Canada keeps overnight rate target at 3 per cent BOC  G&M
Lackluster prospects for job applicants, Manpower says MW
Small business optimism index hits 28-year low Reuters
Stress over debt taking toll on health AP
Treasuries Tumble After Bernanke Fans Speculation Interest Rates to Rise BL
Bernanke Will `Strongly Resist' Any Surge in U.S. Inflation Expectations B  Speech
Bush leads calls to revive slumping dollar Times Online Exclusive
Intervention, Other Tools On Table for Dollar WSJ (Complete via Google jump)
Rising Energy Prices and the Falling Dollar Paul
The Weak-Dollar Threat to World Order WSJ
Chinese official urges US to stabilize dollar Xinhua
“We hope the US will not tell us this time as they did in the early 1970s to the Europeans, to say that 'it is our currency, but, it is your problem'”
Bernanke Jeopardizes Dollar Merk
How Bernanke's Banker Rescue Spells Their Demise Lewis
Bad times get worse for Ben Asia Times
America is addicted to bubbles Miami Herald
Marc Faber Says Oil, Stocks, Real Estate Are Overvalued Bloomberg Audio
The Reverse Wealth Effect Ciovacco Capital PDF
If only this were the '70s Kellner
Commentary: Stagflation is back, but the outlook is grimmer this time
World Bank Cuts Global Economic Growth Forecasts, Citing Oil, Food Prices BL
Hudoff Discusses the Outlook for the High Yield Bond Market PIMCO
Economic and Financial Outlook - Summer 2008 NB Financial PDF
Out of Control, Pt 2 Cornerstone
Farrell's solution for decade of stagflation MW
It's Only Going to Get Worse AEI (Lindsey)
Credit crisis end still not in sight: Crandall Reuters
Write-Down Panic Over UBS Forbes
Ambac, MBIA Finally Have Their `Peggy Lee Moment' Mysak
Asset-Backed Market Depreciates With SEC Drive to Impose `Scarlet Letters'   BL
Banking... the worst may be yet to come Independent
Regional banks face bankruptcy risk Reuters
“The subprime error will go down as one of the biggest mistakes ever.  What we haven't even seen yet is the regional bank problem coming home to roost.”
Lehman intensifies crisis jitters ~ New Jersey gambles on Lehman's credit crisis Star-Ledger
Get used to underwriting big lenders FT
The central bankers, and, by extension, taxpayers, will be underwriting the present system for some time.
Housing crunch hits the high end CNN
The Next Real Estate Crisis Business Week
By April, 2009, hundreds of thousands of option ARM mortgages will begin resetting, bringing on a fresh wave of foreclosures
Real estate: Miami's once-hot market leaves owners scorched USAT
Tony Roma's succumbs to slow economy Modbee
Libor to Be Set by More Banks as BBA Boosts Scrutiny BL
It's Your Loss. (Maybe.) Now Explain It. CFO
Fed, Banks Agree Default-Swap Changes to Reduce Risk BL
Derivatives Trading Is Scrutinized NYT
Gannett to take $2.5B to $3B write-down AP
Buffett's big bet Fortune
The celebrated investor wagers a tidy sum that even carefully chosen hedge funds won't return more than the market over time.
Banking Lessons from Buffett MorningStar
Apple announces faster, cheaper iPhone Fortune
Tomatoes pulled off shelves amid salmonella scare AP
Spitzer Mulls Starting Vulture Fund NY Sun
Police Investigating Possible Suicide by Hedge Fund Cheat ABC
Gold slips as market eyes possible U.S. rate hike Reuters  Platinum Drops
Some Liquidation In Gold UBS  How Safe Is My Gold? Mish
Gold May Rise Past $1,100 an Ounce in 2008, GFMS's Walker Says BL
Crude Oil Advances $3 a Barrel as Citigroup, Merrill Lynch Raise Forecasts BL
What Mr. Crude Oil Sees Ahead Barron’s
IEA cuts forecast of global demand for oil products MW
Where is oil’s choke point? MoneyWeb
'We Need to Give up the Oil and Gas Drug' Spiegel
Gasoline still dirt cheap in the USA iTulip
Worries Mount as Farmers Push for Big Harvest NYT
Corn Damage Spreads as Storms in Iowa, Illinois Cut Yields, Raise Prices BL
China's key stock index plunges 7.7 pct AP
China takes aim at inflation, speculative fund flows MW
Central bank hikes banks' reserve ratio requirements by 100 basis points
Yuan breaks 6.92-mark to hit new high Xinhua
Japanese Lessons for China’s Currency Project Syndicate
House sales slump to 30-year low Times Online
Figures raise fears the downturn in the housing market could turn into a crash
Housebuilders pounded on slowdown Telegraph
Barratt, Persimmon and Redrow shares hit as British house buyers evaporate.
Thousands facing negative equity BBC
Eurozone clash over ECB rate rise stance Ambrose Evans-Pritchard
Production costs to tip UK into 'stagflation' ThisisMoney  Back To The 70s
Bank of England Governor Mervyn King raises stagflation spectre Telegraph
Why it's still not safe to go back in the water MoneyWeek
There have been twenty one occasions since the end of the first World War when the UK stock market fell by at least 3.5% in the first five months of the year, a bear market was running in twenty of those twenty one years.
Scandinavian Inflation Accelerates, Raising Prospects for Rate Increases BL
Sweden’s Central Bank Dumps Inflation Gauge WSJ Blog
Carney May Lower Canadian Rate to 2.75%, Then Join King, Bernanke in Pause   BL
Math Gap Will Widen India's Rich-Poor Divide BL
German Corporate Spying Scandal Widens Spiegel
Talks to keep U.S. troops in Iraq provoke ire CS Monitor
Raising the Stakes for Afghanistan CFR

Monday June 9, 2008
Treasury Two-Year Notes Fall Most Since 1996 on Rate-Increase Speculation   BL
Paulson Says Intervention in the Currency Markets Is Never `Off the Table' BL
Oil Drops $4 as Saudi Minister Al-Naimi Calls Crude Price `Not Justified'   BL
Citigroup, Merrill, UBS Facing More Writedowns, Oppenheimer's Whitney Says   BL
April Pending Home Sales Unexpectedly Rise 6.3 Pct AP
Does the Government Manipulate Economic Data? Fox
Morning Outlook: Is the Market on the Verge of a Significant Shift in Direction?   Schaeffers
Additional Panic Selling Is Feared Dorfman
“We're in what could be the worst and longest bear market in history."
Lehman Has $2.8 Billion Loss, Seeks $6 Billion From New Stock; Shares Fall   BL
Moody's downgrades Lehman to negative from stable MW
The Fed's Policy Rule: Regret-Minimax Hussman
The Fed can no longer save us from the consequences of debt Ambrose Evans-Pritchard
Any tilt to monetary tightening is a dangerous gamble at this delicate juncture. The world is facing an almighty clash between two opposing storm systems.
The mounting dangers of central banks' high-wire act King
'Deleveraging' haunts central bankers FT (Tett)
Of all the bad economic data, the cost of food and oil need the Fed's urgent attention CSM
Fed Feint on Rates Fails to Persuade Goldman, Lehman BL
We can reduce risk in the financial system Geithner Geithner urges global bank framework
Why It’s Worse Than You Think Newsweek
Trends in Key Recession Indicators Econbrowser
Do you fear that your financial hopes are fading? Get in line   USAT
Wealth Evaporates in U.S. as Fuel Prices Clobber McMansions, SUV Makers BL
Recipe for National Insolvency Smith Blog
Bush Says `Strong Dollar' in Nation's Interest, Seeks Aid for Afghanistan BL
Fed Not in It to Back a `Strong Dollar' Policy Berry
Ken Rogoff is also confused by the US policy towards dollar pegs Setser
Exchange Traded Derivatives Rise 30% to $692 Trillion BL BIS Qarterly Review
Bob Doll Sees Credit Crisis Lasting 2 to 4 Years   CNBC
Consumers face tougher time getting loans as bank crisis spreads McClatchy
Funding imbalance linked to market tensions FT
Crisis shifts to regional lenders FT
Developer LandSource seeks bankruptcy protection Reuters
Ratings blow to US insurers puts $13b bonds at risk SMH
Foreclosure epidemic: The hidden victims Chicago Tribune
10 Percent Unemployment in California: Which Counties are Hurting the Most Dr. HB
Housing Bubble Didn't Burst Everywhere in U.S. BLWall Street Banks Land First Blow in Battle for Clearing Derivative Trades BL
SEC May Ban Moody's, S&P, Fitch From Consulting on Structured Finance Debt BL
Lehman close to raising more than $5 billion WSJ
Big shareholders rebel at AIG WSJ
All Together Now? New Yorker
Tax havens in U.S. cross hairs CS Monitor
People vs. Dinosaurs NYT (Friedman)
“I’d short Ahmadinejad and go long Warren Buffett.”
Supercomputer sets record IHT
Does gold price surge signal war is near? Brimelow
Oil Is Likely to Hit $150 This Summer Reuters
OPEC sees no need to pump more after price surge Reuters
The oil price bubble and monetary policy Shostak
Don't blame developing economies for oil hikes Xinhua
Rural U.S. Takes Worst Hit as Gas Tops $4 Average NYT
The rise and fall of the SUV Toronto Star
Ethanol Stocks Are Poised to Refuel Barron’s
Corn Rises to Record on U.S. Midwest Flooding; Soybeans, Wheat, Rice Gain BL
U.K. Producer Prices Rise Twice as Fast as Forecast, Reach Two-Decade High BL
Two thirds believe 'country is in recession' Times Online
Britons face drop in living standards Telegraph
Traders predict house prices will fall by 50% in four years Guardian
Homes crunch: Revenge of the gazunderer ThisisMoney
Sun sets on Spain's building frenzy Guardian
The euro is a half-baked currency that will crumble under pressure Telegraph
After ten years the euro is facing up to its first serious test
Asia’s new export: rampant inflation FT
China mega-construction IPO plan spooks A-share investors MW
Japan firms borrow more to cover materials costs Reuters
Sensex slips below 15K, Nifty at fresh 2008 low India Times
Russia's Raiders Business Week
Companies are paying public officials to raid the offices of business rivals and subject them to criminal investigations.
Gazprom Wants to Build Pipeline From Alaska Moscow Times
GCC economy set to exceed $1tr mark Arab News
False Disclosures Stymie Kosdaq Korea Times
Hyundai Building $3,500 Budget Car Chosun

Weekend Edition (June 7-8, 2008)
Key U.S. Data Releases and Events Global Insight
Dollar fate in focus before G8 Reuters
Coming Week: There Will Be Blood TheStreet
When Bubbles Collide   Mauldin
Overview: Central bank rhetoric jolts hopes of cuts FT
This Global Show Must Go On NYT
Q1 2008 Flow of Funds Noland
Inflation One-Year Ahead Merk
The Fed’s Strong Dollar Policy Schiff
Fed on Hold as Far as the Eye Can See Northern Trust PDF
Fed's Bullard: Fed must tackle inflation this year Reuters
It's not a dollar crisis, it's a gold crisis Fekete
Containerized horror Mogambo
Market Perspective: When Will the Oil Bubble Burst? Schwab
Let's Get Real! Harding
U.S. Recovery: The Shape(s) of Things to Come BMO Focus  PDF
Teens in U.S. Find Summer Jobs Elusive as Shops, Restaurants Fire Workers   BL
Hard to find a job, but not an internship   CNN
U.S. Financial Data, June 6 Issue   FRBSL
Russia blames U.S. for global financial crisis Reuters
Credit crisis still not behind Wall Street AP
Citigroup pulls out of the UK mortgage market Times
Companies to appeal ABCP ruling in bid to sue sellers FP
Shrinking Lines of Credit NYT
Slideshow: Celebrities Face Foreclosure of Their Homes CNBC
Credit Crunch Watch Oxford PDF
There are signs that this easing in stress may be coming to an end
Pay It Back if You Didn’t Earn It NYT (Morgenson)
Bank of America Is Firm on Countrywide Buyout NYT (Morgenson)
FTC opens formal probe of Intel chip business AP
Wal-Mart Benefits as Economic Slump Boosts Demand for Its Discounted Goods BL
Some Bombs in Buffett's Book Kass
When You Weren’t Looking, They Were Working NYT (Stein)
Gas price record reaches $4 a gallon   CNN
Oil hike sparks 'serious concern' BBC
Energy chief: Flat production behind oil prices AP
Oil Prices Raise the Cost of Making a Range of Goods NYT
Industrial nations vow to fight high oil   AP
Asia Governments Step Up Economic Relief Measures as Oil Soars to a Record BL
John Kilduff, Energy Analyst at MF Global Offers An Outlook on Oil NBR Transcript
Gaming Oil Corrections Zeal
Why oil prices will tank Fortune
UK inflation expectations for next 50 years soar Telegraph
BoE: Stubborn As Economy Melts BCA Research
Australian House Prices Drop Most in Five Years on Higher Interest Rates BL
Don't drive yuan underground: Yam Standard

Global fears push oil price to new records Telegraph
Dow crashes 400 points as US jobless rate climbs and prospects of war in Middle East grow, sparking worries of 1970s-style crisis
Weekly Trends Scotia Weekly Focus - June 4 - 13, 2008 Danske PDFs

Friday June 6, 2008
Oil prices surge almost $11 and punch stocks hard; Dow off 395 USAT
Silver as the value play on metals MW
A laggard till now, silver could jump to $50 an ounce in coming years.
Oil Soars to Record $138.54 a Barrel on Weaker Dollar, $150 Price Outlook   BL
Icahn Tells Yahoo Company Should Be Sold to Microsoft for $34.375 a Share BL
Corporate America is getting nervous CNN
Treasurys advance after May unemployment rate jumps to 5.5% MW Dollar Falls
U.S. Payrolls Fall; Jobless Rate of 5.5% Biggest Increase in Two Decades BL BLS
Ed McMahon talks about possible home foreclosure AP
It's The Housing Market, Stupid! Comstock
Fed Governors Openly Question Bernanke's Competence Mish
Lacker amplifies Volcker; moral hazard fears WSJ
Dollar dilemmas Economist  The ECB at ten
Does the new dollar policy make sense? The Fed's dollar defense Barr
China's Finance Ministry Urges U.S. to Bolster Dollar BL
“We have conveyed to the U.S. government that a strong U.S. dollar is in the interest of the U.S. economy”
Dollar Policy for Dummies, Dimwits and Dolts Baum
Government Conspiracy Theories and Your Money Seeking Alpha
Out of the frying pan Economist
And into the line of fire of those keen to constrain Wall Street's free-wheeling ways
Bond timers are bearish Hulbert
The latest gas pain: More job losses
Money pressures pile up on the U.S. consumer CS Monitor
Banks vs. Consumers (Guess Who Wins)   Business Week
The US Housing Bust and Soaring Oil Prices: CEPS (Click ‘Download PDF for Free’) PDF
What next for the world economy?
Research Quarterly SIFMA  PDF
Capital Market issuance reaches $1.43 trillion in 1Q08
G-8 to Press China, India to Accept Watchdog for Energy Use as Prices Jump BL
The credit crunch looks far from over Economist
Many hoped that the Bear Stearns bail-out in mid-March would prove the climactic event of the subprime crisis.
Fed Official: More Bank Losses, Writedowns Loom CFO
Companies trying to obtain credit may soon find an even more unfriendly environment.
Lenders dumping bad loans at discount; regulators see losses continuing WSJ
...some winning bids were only about 20 cents on the dollar.
MGIC, PMI Downgraded by Fitch on Poor Underwriting BL
Lehman Brothers May Raise Capital Level by Up to $5 Billion, Person Says BL
Subprime costs Japan's banks $US8bn Reuters
Citigroup to close Japan moneylending outlets Reuters
Flaherty to meet with Canadian banks again over credit crisis CP
Homebuilding JP Morgan  PDF
Commentary, Lack of Reinvestment Back Our Outlook for More Softening
Housing Pain Hits Prime Borrowers WSJ
Foreclosures Increase As Troubles Worsen Outside of Subprime
Trail of Bad Loans Leads to the Couple Next Door NYT (Norris)
Nearly 1 in 10 Homeowners Face Loan Problems NYT
3 Captivating Housing Stories Dr. HB
Guardians aid in search for delinquent borrowers Daily BR
Frank-Dodd Rescue Prolongs Housing Slump by Postponing Prospect of Default BL
Pee Wee's Grill Failure Sends Ripples to Roto-Rooter, Bimbo Bakeries, GM BL
The rating agencies have got off lightly from regulation—so far Economist
Rating Companies Are Easy Target for Eager Gunners Mysak
Analysts Lose 17% for Broker Stocks Investors; Moszkowski, Bhatia Stumble BL
AIG faces SEC probe on subprime mortgage contracts Reuters
National City under U.S. regulatory scrutiny: report Reuters
Indictment: Broadcom Ex-CEO Built Drug Warehouse AP
Bits, Bands and Books NYT (Krugman)
Wealthy Americans Under Scrutiny in UBS Case NYT
Will the wisdom of Warren Buffett translate into German? Spectator
The Web 2.0-defying logic of Drudge Fortune
Gold ETFs Lose Traction UBS
Oil above $130 on weak dollar, Israel comments Reuters
Investors' Growing Appetite for Oil Evades Market Limits WP
Forget IF there's speculation in commodities. Ask "WHY?" Larson
How about oil at $75 a barrel? G&M
Oil to hit $400 a barrel by 2018 Asian Investor
And other forecasts by the former deputy chief of staff of the US military...
IEA urges $45-trillion ‘energy revolution’ G&M  IEA
Cars in Russia - Crisis? What oil crisis? Economist
Hyundai starts building Russian plant AP
Canada's job market stalls G&M
Dollar Peg Should Be Buried to Beat Inflation BL
It's time for emerging-market countries to ditch Bretton Woods II
Why the dollar still reigns in Chavez's Venezuela MW
Turkish Bonds, Stocks, Currency Decline After Court Upholds Headscarf Ban BL
Zimbabwe's currency crashes, prices rocket Reuters
Probe as finance officials found to take payments from cab drivers AFP
Revealed: Secret plan to keep Iraq under US control Independent
No secret deal on pact with Iraq, U.S. says Reuters
U.S. Security Agreements and Iraq CFR
Iraq May Request Extension For U.S. WP
Bush Inflated Threat From Iraq's Banned Weapons, Report Says WP

U.S. Household Net Worth Down Again HAVER

Thursday June 5, 2008
Fed officials split on Fed's role as market savior   Reuters
Crude futures up over $5 to close at highest level in a week MW
UBS to Close Municipal Bond Business, Fire 280 Employees After Sale Fails   BL
MBIA, Ambac Have AAA Insurance Financial-Strength Ratings Lowered by S&P   BL
Lacker Says Fed Lending to Securities Firms May Sow Seeds of Future Crises BL Speech
Home foreclosures set record in first quarter AP MBA
July euro-zone rate hike called possible MW
U.S. Initial Jobless Claims Unexpectedly Fell 18,000 to 357,000 Last Week   BL
Will the Credit Crunch Lead to Recession? Resource Investor
Bernanke puts problems in '70s perspective - Bernanke to Grads: No Repeat of '70s - Text
Newfound savings penchant could retard growth Reuters
The Outlook for Money and Securitization Markets Berner
A Bummer Summer for Job-Seeking Teens WP
Time to Put Investment Banking Back in Its Box Gilbert
Lazard CEO: Wall St. excesses were 'uncontrolled' Reuters
Howling at the moon Mogambo
A Record Tax Hike IBD
The Senate's new $3 trillion budget fails to extend President Bush's tax cuts. If this isn't fixed, we'll soon face the largest tax hike in our history.
Senator Warns of a ‘Crisis’ in Pentagon Cost Overruns NYT
Yard sale for cash-strapped states CS Monitor
After years of out-of-control spending states are facing $40B in red ink
Cigarette pack tax hike of $1.25 in effect Tuesday Newsday
Financial institutions have obligations too Gulf News
According to Merrill Lynch, the US Treasury gave GCC countries the green light to make changes to currency exchange rates, pegged to the US dollar
Oil Currency Hypocrisy NY Sun (Rogoff)
Does it make sense for Hank Paulson to be touring the Middle East supporting the region's hard dollar exchange-rate pegs, while the Bush administration simultaneously blasts Asian countries for not letting their currencies appreciate faster against the dollar?
Greenspan, `Master of Garblements,' Fares Poorly in Book on Fed Baum
-- Deception and Abuse at the Fed Amazon
Greenspan’s Bubbles Finance Asia PDF
They really haven’t helped the US – or the world
US Won't Match Japan's '90s Slump: Fed's Lockhart Reuters
Spendthrift Boomers Face Perilous Retirement: McKinsey WSJ Blog
Moody's warns it may downgrade Aaa ratings of Ambac, MBIA MW
MBIA, Ambac Signal They May Give Up Aaa Battle After Moody's Threatens Cut BL
Lehman Faces No Pressure From Fed, SEC to Raise Funds, U.S. Official Says BL
Broker Default Risk BeSpoke
Canadian Banks head back to the debt markets Globe & Mail
Drake to shut remaining funds after big falls FT
More Financial Turmoil Big Picture
Commercial Real Estate Chartbook: June 2008 Wachovia PDF
Housing Supply Declines in May   WSJ
McMahon fighting foreclosure on Beverly Hills home AP
Doing The Housing Math on the Ed McMahon Home MyBudget360
Will the Housing Slump Reach Manhattan?   Reuters
The Panglossian World of Finance VOX
Painful period of global financial de-leveraging to result in slower growth AME
Gold slips to 3-week low as dollar firms Reuters
Crude oil: Rounding up the bad guys   CNN
Catastrophic water shortage 'to be biggest world risk' Ambrose Evans-Pritchard
Food Is Gold, and Investors Pour Billions Into Farming NYT
Beyond gasoline: Prices surge for oil-based goods CS Monitor
Energy Lessons NYT (Cohen)
Ice Cream Shortages May Be Next Spiegel
Commodities 'dominate' FTSE 100 BBC
HSBC wins China approval for Shanghai gold trading Reuters
Wal-Mart’s Detractors Come In From the Cold   NYT Wal-Mart same-store sales up 3.9%
Fidelity in new round of layoffs Boston Globe
Continental Airlines to cut 3,000 jobs, capacity USAT
Summer airfares double, triple, quadruple   USAT
Banking Index: Broken & Far Away From Support Trader’s Narrative
Warren Buffett hones rock-star status USAT
Seth Klarman: Second Coming of Benjamin Graham? Seeking Alpha
One vote that Obama definitely won't get Brimelow
Clinton promises to "strongly support" Obama Reuters
Bank of England holds interest rates at 5% Times Online
Indonesia Raises Key Rate as Asia Battles Inflation BL
New Zealand's Bollard Expects to Cut Key Rate From 8.25% Later This Year   BL
Swiss Inflation Problem Brewing? BCAR
Reserve Bank will raise rates if rupee fall more-UBS Reuters
Canadian Dollar Falls Most in Five Weeks on Rate Speculation BL
Housing market shows signs of meltdown Reuters
UK home prices 'fell 2.4% in May' BBC
Housing industry renews call for interest rate cut Guardian
Crash: The housing crisis is just beginning   NewStatesman
Up to a million headed for negative equity FT Advisor
Building company to sack hundreds BBC
Builders facing cash calls as sales slump Independent
That sinking feeling Guardian
King May Be More Irritant Than Ally for Brown in Second Term at BOE's Helm BL
India's Future Rides on 76-Year-Old `Metro Man' BL
The Asian Navigator Merrill  PDF
Opes director recanted fraud claim Australian
Hoaxers Hamper U.K. Insider-Trade Probe With Phony Phone Calls to Brokers BL
Insider trading probe into B&B slide Telegraph
Time overdue for a world currency Asia Times

Wednesday June 4, 2008
Bernanke Calls U.S. Inflation Level `Significantly Higher' Than Fed Wants BL
Service Industries in U.S. Grew Last Month at Faster Pace Than Estimated BL  ISM
Productivity revised up to 2.6% in first quarter MW BLS
ADP: Private-sector jobs add 40,000 in May MW
Layoffs rise 15 pct in May vs April: survey   Reuters
Obama makes history - wins Democratic nomination ~  Speech Text
Obama, McCain's budget and tax proposals Reuters
Game on: McCain-Obama on economy CNN
McCain’s ‘Change’ Speech Newsweek
The Absolute Return Letter - June 2008 ARP  PDF
“...the point completely missed by everyone, including Masters himself, is that index funds and ETFs are only half the story...”
Federal Reserve chairman Ben Bernanke's smart intervention Times
Federal Reserve must act quickly if recession clouds lift Times
U.S. dollar faces threats to its reign CS Monitor
War spending, trade deficits, and devaluation against foreign currencies weigh on the greenback.
Mortgaging America LA Times
Investment funds run by foreign governments are keeping the U.S. afloat.
The Stock Market's Secular Trend Saville
State bankruptcy filings jump 27.2 percent in first quarter Chicago Tribune
Old industrial economies face triple trouble: OECD G&M  OECD Economic Outlook No. 83
U.S. Mortgage Applications Decline 15.3% to the Lowest Level in Six Years BL
CDS report: Bad things come to those who wait FT Alphaville
The credit bears were licking their chops on Wednesday as resurging problems for banks punctured hopes that the worst of the credit crisis was over.
Interest Rate Derivatives Signal That Banks' Credit Woes Likely to Worsen BL
Banks have a capital problem CNN
Lehman Denies Fed Borrowing, Says Cash Holdings Rose BL
Lehman Puts, Default Swaps Show Investors Bet on Further Decline in Shares BL
Sub-prime fallout extends to banks in eastern Germany LA Times
Estimated losses could hit $69 billion, with taxpayers picking up the tab for nearly half that amount.
Worst impact of credit crisis yet to come icWales
Nordic banks warn of credit crisis threat FT
“The turmoil has ... spread to new assets, markets and participants. The uncertainty ... will probably persist for a long time to come...”
Return of the Credit Crisis – Did It Ever Leave? Barbera
Homebuilders offer bleak outlook and post losses AP
U.S. home builders face off with foreclosures Reuters
“In some regions, the supply coming to the market from home builders is now smaller than the supply coming from foreclosures”
Downsizing the American home Fortune
Foreclosures lead a town's downturn LA Times
Could 50% of All Homes End Up in Foreclosure? Smith Blog Dr. HB
Developers scrap $5 billion Las Vegas casino project   MW
Fallout from credit crisis puts kibosh on Strip casino development.
Oil Dips Below $124 on Concern Over Economy AP
The Coming Oil Investment Boom WSJ
Is oil the next 'bubble' to pop? WSJ  The Oil-Price Bubble Mises
The London-Dubai loophole Leonard
A growing share of the business of trading U.S. contracts for crude oil futures on U.S. soil is conducted on U.S. computer terminals that are operated by foreign-owned exchanges that are not required to conform to U.S. regulations.
Commodity Monthly: Divergent picture Danske PDF
Dollar and Commodity Prices BBH
No recession for $crap metal industry Boston Herald
Malaysia raises fuel prices 40% AP
UN says solving food crisis could cost $30 billion IHT
Leaders at UN food summit tone down menu over fears of hypocrisy Times
To Cope With Oil Shock, Emulate Japan   YALE Global
Kuwait considering bigger Citi, Merrill stakes   Reuters
Banks fear new $5,000bn balance burden FT
Accounting changes could force US banks to take thousands of billions of dollars back on to their balance sheets in the coming months
Fliers in for pain as airlines pack it in USAT
Reports: United to Ground 737s, 747s to Save Fuel AP
Icahn steps up campaign to oust Yahoo board ~  Yahoo sets August 1 date showdown
Borders to axe 275 jobs   AP
Rating Agencies in Sights of New SEC? CFO
Bond-Rating Shifts Loom In Settlement WSJ (Complete via Google jump)
The three major bond-rating firms are set to overhaul the way they collect fees
Useful dos and don’ts for fast economic growth FT (Wolf)
SUV Drivers Looking To Downsize Are Hitting Financial Roadblocks NBR
Service sector cuts jobs amid soaring costs ~ Consumer confidence 'worst for four years'
European companies hit harder than US rivals FT
Japan Capital Spending Falls as Profit Plunges 17.5% BL
Why all the fuss about the Bank's deputy? Inflation is the enemy now, not the crunch Inde
Bollard May Drive New Zealand Into a Recession by Refusing to Reduce Rates BL
Housebuilders crumble as analysts wield the axe Times
Asian Economic Miracle Is at Risk All Over Again Pesek
The Impact of Capital Inflows on Emerging East Asian Economies: ADB  PDF
 Is Too Much Money Chasing Too Little Good?
Asia to overtake US gaming revenues by 2012: survey AFP
China builds plant to turn coal into barrels of oil Reuters

Tuesday June 3, 2008
Soros: Oil Price Crash Not Imminent Despite Bubble Reuters
Factory Orders in the U.S. Unexpectedly Jump 1.1% on Demand for Petroleum   BL  Census
Dollar Rebounds After Bernanke Says Fed Keeping Eye on Currency BL Gold Drops
Bernanke signals discomfort with weak dollar MW Speech
“We are attentive to the implications of changes in the value of the dollar for inflation and inflation expectations...”
The Mean Season Outside The Box
Buffett vs. Bernanke Lowenstein
Extending discount window a threat to markets Morici
Stagflation recipe missing one key ingredient Reuters
U.S. Inflation: Diverging From Expectations BCA Research
Bernanke Optimism on Growth Rebound, Inflation Dashed by Oil-Price Surge BL
Sweden in 1990s and United States today: a recovery slow and steady NB Financial PDF
FX Strategy - IMM positioning: Only small changes in speculative positions Danske PDF
Preservation of Principal Is Paramount Lamont
Banking On a Bearish Future Kass
Sell in May and Go Away? Saut
20 reasons new megabubble pops in 2011 Farrell
Few heed warnings of financial disaster Toldeo Blade
Second Great Depression in Detroit Nystrom
America's recession could slip into depression WaldoCounty
Congress, Regulators Target `Bad' Speculation Baum
Too Soon to Breathe Easy Fed Lockhart
Executive Ousters, Rating Cuts May Signal Longer Slump at Mortgage Lenders   BL
Now lenders are facing HELOC hell Financial Week
Credit Hurricane To Make Landfall Minyanville
Bradford & Bingley Forced to Buy Almost $4 Billion of Mortgages From GMAC BL
Northern Rock was a warm-up for this woeful tale Telegraph
Gloom deepens as lending slumps and borrowers fall into arrears Times Online
Lehman may raise up to $4 billion capital Reuters
Wachovia's Ouster of Thompson May Foretell More Losses, Takeover Attempts BL
Kill the Q: Subprimes Head for Balance Sheets CFO
FASB will this week propose that banks ditch the "lockboxes" that hold securitized assets.
Credit card companies are sending out less direct mail to consumers AP
Toll Brothers Reports Third Straight Loss as Sales of New U.S. Homes Slump BL
Lenders foot the bill for abandoned homes CNN
Rising rates? Not too late to refi CNN
Housing affordability back to pre-bubble levels CNN
Housing market may turn more quickly than you expect Kellner
In Escondido: Buy one (house), get one free LA Times
Las Vegas-style mortgage fraud spreading across country USAT
Hammered by the housing slump AP
Crude Oil Declines as Asian Governments Try to Damp Demand   BL
Pickens: Speculation a `Scapegoat' for Oil Prices BL Video CFTC Probe a `Waste of Time'
Gartman on oil: 'Look out below' LAT Blog
The great oil swindle: How much did the Fed really know? Whitney
OECD boss hails high oil prices   BBC
Chemical Reaction: Oil's Ripple Effect CFO
Drivers putting less gas in tank, then running out AP
Buyers turn on a dime to go for small cars as gas prices rise USAT
Oil-price supernova spurs search for alternatives Reuters
IEA head urges "revolution" to fight oil crisis Reuters
Two Cheers for the Blessing of High Oil Prices Stelzer
Aluminum Traders See Shortage by 2013 as Power Runs Out at Mines, Smelters BL
Squeeze is on as interest grows in solar sector FT
Briefing: Lessons from past food crises CS Monitor
GM, Motorola, New York Times Burn Through Cash Flow With Dividend Payouts BL
GM Will Close Four Truck Factories in Shift to Small Cars, May Drop Hummer   BL
GM to slash 1,000 jobs at Oshawa plant G&M  GM seen cutting deeper
Casino Bonds Crush Herbst, Harrah's as Apollo Suffers With Recession Debt   BL
Apollo unit halts cash payouts FT
Venture capitalists go beyond borders USAT
Hyundai chief handed 3-year suspended sentence Reuters
Grasso’s Grit May Win After All NYT
Milberg Weiss top gun sentenced AP
Nassim Nicholas Taleb: the prophet of boom and doom Times Online
China's forex reserves expand by about 100 million dollars every hour AFP
At 1.76 trillion dollars, China's reserves are now larger than those of Japan, Taiwan, South Korea and Hong Kong combined.
China Central Bank Dismisses Threat of `Hard Landing' From U.S. Slowdown BL
Japan: US$1.5 Trillion GPIF Reform and Outflows from Japan Jen
ETFs - Further sophistication fuels investor demand DB Research  PDF
Real Estate Boom in Cambodia's Capital Business Week
A derivatives scam? JPC probe needed Rediff
OMX Nordic trading hit by severe delays MW
Indefensible spending LA Times
America's massive military budget is irrational, costly and dangerous.

Monday June 2, 2008
Lehman, Merrill, Morgan Stanley Debt Ratings Are Cut by S&P; Shares Drop BL
ISM Manufacturing Index Shrinks Less Than Forecast, But Still Below 50   BL  ISM
Construction spending in U.S. falls again G&M  PDF
Housing Bubbles Collapse Inward S&P  PDF
Canadian Consumer confidence plunges G&M
Wachovia Ousts Thompson on Writedowns, Share Plunge BL
Monday Morning Outlook: An Ominous VIX Futures Curve Bodes Ill for stocks Schaeffers
Bond sell-off in focus Reuters Government bond prices tumble
False Dawn AEI (Makin)
The bursting of every bubble is followed by statements suggesting that the worst is over and that the real economy will be unharmed...
The Many Faces Of Inflation Contrary Investor
A Return of That ’70s Show? NYT (Krugman)
Wall Street Decides to Close Its Ears and Hum Hussman
Paulson committed to dollar as reserve currency Reuters
Paulson Finds Fed Won't Help With One-Year T-Bills BL
The Fed is selling Treasury bills at the fastest pace since it was founded in 1913
The Fed embraces inflation MSN (Fleck)
A top Fed official warns of the hazards of printing money to solve economic problems. He's right -- and yet the nation's central bank keeps running the press at top speed.
The Fed’s year of living dangerously FT
How the next president will change the Fed CNN
The gods of greed Guardian The Gods That Failed Amazon
They promised economic stability, order and prosperity. But instead the world's bankers have delivered chaos, debt and uncertainty
Debt is the financial systems carbon-dioxide Keen Blog
Roger Cohen: The world is upside down IHT
Unprecedented debt isn't the only problem Brimelow
Pinched Consumers Scramble for Cash WSJ
Consumer spending won't save the US economy Jackson
Six out of Ten Consumers Now Believe U.S. Is In a Recession Business Wire
State jobless benefits reserves low Stateline
More than a dozen states would be hard-pressed to provide unemployment benefits if the economy tailspins into a full-blown recession and more workers get pink slips.
Six principles for a new regulatory order FT (Summers)
Argentine alert as inflation's spectre stalks half the world Ambrose Evans-Pritchard
Argentina is defaulting on its sovereign debt yet again, this time by stealth. Wealthier Portensos with a nose for trouble are pulling their savings out of Buenos Aires banks.
Asset-Backed Bond Sales Slump in Europe as Delinquencies Soar BL
Euro, Pound Fall on Speculation Debt-Market Losses Spreading Across Europe BL
Why does the spread between LIBOR and expected future policy rates persist? VOX
College-Loan Market Is Getting Its Own Bailout Wasik
Student Loans Start to Bypass 2-Year Colleges NYT
Number of Foreclosed Homes Keeps Rising WSJ
Real Homes of Genius: Today we Salute you East Los Angeles Dr. HB
The market turns cold in a desert boomtown LA Times
House of pain JS Online
Gold Longs Were Large UBS
Gold May Decline as U.S. Rate Outlook Boosts Dollar BL
Hedge Funds Cut Bets on Higher Oil as Crude Hit Record, CFTC Probe Began BL
Fear of Sapped Demand Pushes Oil Below $127 AP
Investors pile up commodities, shun dollars Burns
Commodity Snapshot Bespoke
Candy companies blame higher prices on hedge funds WSJ
Funding bonanza for oil-from-algae firm Guardian
Japan's platinum offsets shortage WSJ
Wall Street Says -2 + -2 = 4 as Liabilities Get New Bond Math BL
“They can post substantial gains as a result of a decline in their own creditworthiness”
The Downside of a Grand Illusion Barron’s (Complte via Google jump)
In 2007's fourth quarter and this year's first, Street firms reported big gains related to the widening of their debt spreads.
Airline Industry May Report $6.1 Billion Loss on Fuel, Economy, IATA Says BL
Auto Sales in U.S. Likely Fell in May on Shunned Pickups, SUVs BL
Toyota fears slowdown in truck and SUV markets will hit sales FT
General Motors share price could triple: Barron's Reuters
Wachovia board forces out CEO Ken Thompson AP
Sharper Image stores to be closed and liquidated Reuters
Pensions' Dollars Shorted by Hedge Funds Have History on Side BL
Lawsuit provides a rare glimpse at credit default swaps IHT (Morgenson)
After Financier’s Death, Suit Against Union Lives On NYT
We must keep our heads, even if others lose theirs King
U.K. Mortgage Approvals Drop to Lowest in Nine Years, Factory Growth Slows BL
Inflation crashes party as euro ministers meet Reuters
ECB, Battling Faster Inflation, May Not Lower Rates This Year BL
China Leads Asia in Retreat From Inflation Battle, Risking a Hard Landing BL
China's economy to grow moderately slower in 2008 Xinhua
Inflation could push pensions back into the red Independent
Bradford & Bingley profits warning hammers British bank shares Telegraph
One million families facing negative equity by 09 Mail Online  Unsafe as Houses Price Blog
Save us from our 20-year debt torment ThisisMoney
Tense stand-off over Bank of England deputy Times Online
Beijing airport raises $300 million in fresh capital Finance Asia
Insurance deficit worsens plight of China's quake victims AFP
Introducing the world's strongest currency: The shekel Haaretz

Weekend Edition (May 31-June, 2008)
Key U.S. Data Releases and Events   GInsight  June could be crazy month for stocks AP
US Treasury chief: no 'quick fix' on oil AP
The Problem with the Euro Mauldin
Market Outlook: Purple Haze Merk
CNNMoney.com’s ‘Depression Comparisons Misguided’ Shows It’s Imminent Lamont
Permabear Schiff's Worst-Case Scenario U.S. News  Don’t Be Afraid, Buy Gold Schiff
Just The Facts Noland
Inflation Did Not Suddenly Disappear! Harding
US staring at double-dip recession as calls for higher interest rates grow Telegraph
Investment Bulletin Bedlam PDF
The bubble of all US bubbles Asia Times
Springtime For Kondratieff? WSJ Blog
Exchange Rates Since the Last Global Financial Crisis: PIMCO
What My Crystal Ball Didn’t Tell Me in 1998
Greenspan doesn't expect more market "bubbles"   Reuters
Greenspan sees lower oil - temporarily Gazette
It’s Easier to Be Green if It Also Saves Money NYT (Norris)
Many consumers spend early rebates on soaring cost of living   USAT
Property Pain Past, Present And Future For U.S. Banks Forbes
A Real Estate Deal Seen From 2 Sides NYT
Lose Homes, Pay More Tax NYT
Credit Crunch Watch Oxford PDF
Billionaire Olenicoff, Tied to UBS Probe, Hid Money Offshore, Records Show BL
Silver Stocks 2 Zeal
Exchanges act to curb oil price profiteering   Telegraph
The New York Mercantile Exchange (Nymex) and ICE Futures Europe in London, the former International Petroleum Exchange, have now tripled "margin calls" for some contracts.
CFTC Probes Cotton Market After Price Surged, Plunged in March, People Say BL
Commodity Policies Set for Revision NYT
Regulator will unveil early next week a set of policy changes to address public and political concerns that market malfunctions may be contributing to rising food and energy prices...
CFTC Chairman Walter Lukken Offers His Ideas About Rising Oil Prices NBR
ECB's Draghi Says Record Oil Prices Are Dictating Level of Borrowing Costs BL
Oil Can't Rise Forever, So It Stops Barron’s
The end of the oil stock rally Jubak
Oil bubble could prove threat to pension funds Reuters
Column: Institutional money drives up commodities AP
Who is responsible for the global food crisis? G&M
Food prices will ease but not return to good old days Australian OECD
The Energy Challenge: Mounting Costs Slow the Push for Clean Coal   NYT
Silverjet grounded by high fuel costs Times  Silverjet collapse leaves thousands stranded
Saudi Arabia Won't End Currency Peg, Revalue Riyal, Finance Minister Says BL
Japan recession a risk, credit crisis drags on-Roach Reuters
Does GDP Matter? BMO Weekly Focus PDF
Why long-term investors are pulling out of the eurozone Ambrose Evans-Pritchard
Economic climate index dips in April Xinhua
Fed's rate cuts 'add to inflationary pressure'   China Daily
Hong Kong’s REITS and Wrongs Asia Sentinel
TNK-BP director quits amid spy claims Times

Week In Review Northern Trust Weekly Trends Scotia Weekly Focus Danske PDFs