Zero Hedge: Guest Post: The Good, The Bad And The GDP

Zero Hedge: Guest Post: The Good, The Bad And The GDP

Excellent read. I have Oil Calls for now.

Drew Gilpin Faust and the Incredible Shrinking Harvard - Boston Magazine

Drew Gilpin Faust and the Incredible Shrinking Harvard - Boston Magazine
This is just one university in trouble. Many of them are in deep trouble as well. Wait till students can not get loans or forgo college.

Latest budget proposal eliminates CalWORKs, lets out inmates early - Sacramento Politics - California Politics | Sacramento Bee

Latest budget proposal eliminates CalWORKs, lets out inmates early - Sacramento Politics - California Politics Sacramento Bee

More cuts, more pain. This is still not enough to close the current gap.

GM Bankruptcy Seen as Tale of Best, Worst of Assets (Update1) - Bloomberg.com

GM Bankruptcy Seen as Tale of Best, Worst of Assets (Update1) - Bloomberg.com

So long GM, we loved you. One more famous quote, what is good for GM is good for the USA.

Mish's Global Economic Trend Analysis: Mortgage Market Locks Up

Mish's Global Economic Trend Analysis: Mortgage Market Locks Up
I hear that yesterday was a panic for most traders. Some called it the start of the end of days it was so bad. Clearly Ben and Tim are losing. Which is bad for everyone.

Plan to Buy Banks' Bad Loans Founders - PIPP is dead!

Plan to Buy Banks' Bad Loans Founders - WSJ.com

FT.com / Companies / Banks - JPMorgan warns on credit card woes

FT.com / Companies / Banks - JPMorgan warns on credit card woes
24% Credit card loses. Ouch. I would predict this is not even close. Most of these loands where to high risk clients. Most can sold to debt buyers for around .1-.2 on the dollar.

The Next Step Towards Economic Suicide: Price Controls

The Next Step Towards Economic Suicide: Price Controls
Yet another sign of things going bad.

Hot Air » Blog Archive » IRS revenues dropping rapidly

Hot Air » Blog Archive » IRS revenues dropping rapidly
Whoops better get out the pens to rewrite that budget.

The Crisis Isn't California's Alone - BusinessWeek

The Crisis Isn't California's Alone - BusinessWeek

As I have been saying, as California goes so go we all.

May 25, 2009 "What Obama Does Not Know" Richard J. Maybury 321gold

May 25, 2009 "What Obama Does Not Know" Richard J. Maybury 321gold

Interesting Post.

FDIC: Press Releases - Less Money

FDIC: Press Releases - PR-77-2009 5/27/2009

Less Money. More problems.

naked capitalism: GM Bankruptcy Appears Certain

naked capitalism: GM Bankruptcy Appears Certain
An excellent run down on GM. This is going to be a huge event. We have never done this in this size before. I got tell you I hope for the best, but think it will turn out badly.

Square Feet - Manhattan Is Awash in Sublet Office Space - NYTimes.com

Square Feet - Manhattan Is Awash in Sublet Office Space - NYTimes.com
More signs of trouble in the CRE market. This wave is just building and will cause some massive pain in the banks. Guess they forgot this little joy in the stress test.

The Greatest Swindle Ever Sold --Todays MUST READ

The Greatest Swindle Ever Sold
Why the TARP is bad for the tax payers.

Banks Aiming to Play Both Sides of Coin - WSJ.com

Banks Aiming to Play Both Sides of Coin - WSJ.com
Yeah lets loot the FDIC to make money on PPIP.

North Korea Threatens Armed Strike, End to Armistice (Update1) - Bloomberg.com

North Korea Threatens Armed Strike, End to Armistice (Update1) - Bloomberg.com

Looks like things are going a little crazy.

JPMorgan's $29 Billion WaMu Windfall Turns Up The Heat On Sheila Bair

JPMorgan's $29 Billion WaMu Windfall Turns Up The Heat On Sheila Bair
More signs that quick decision are bad decisions.

Zero Hedge: A Look At The Federal Reserve's Balance Sheet

Zero Hedge: A Look At The Federal Reserve's Balance Sheet

So who loses in a default? Everyone.

Momentum Builds For Big Muni Bailout

Momentum Builds For Big Muni Bailout

More nonsense from Congress.

Obama: The US Government Is Broke!

Obama: The US Government Is Broke!
More shocking news to follow. We see flowers growning soon. Dont worry be happy.

Saudia Arabia: $200 Oil In 2 Years

Saudia Arabia: $200 Oil In 2 Years

Sometimes there are easy calls. If you took all your money and put it in Oil. (ETF's or Oil stocks) in 5 years you would have made serious money. Now most times all your money in one thing is stupid. But in rare occasions you are handed a easy call. This is that time.

A G.M. Bankruptcy Would Tax the Experts - NYTimes.com

A G.M. Bankruptcy Would Tax the Experts - NYTimes.com
Once again only the lawyers win.