G.M. Reaches Deal to Sell Saturn to Penske - DealBook Blog - NYTimes.com

G.M. Reaches Deal to Sell Saturn to Penske - DealBook Blog - NYTimes.com
Saturn Gone. Hopefully they can restore the Brand after it was watered down by GM management who never understood it.

Drug violence spilling into Guatemala - Los Angeles Times

Drug violence spilling into Guatemala - Los Angeles Times
A little on Mexico and the drug war down there.

200 Day Moving Average | The Big Picture

200 Day Moving Average The Big Picture
Very cool technical anylsis. I would be on the bear side.

Zero Hedge: The State Vs. Federal Schism

Zero Hedge: The State Vs. Federal Schism
I would urge you to read this whole things.
Just ugly for almost every state government.

Michelle Malkin » Dealergate continued: More on Chrysler and Clinton cronyism

Michelle Malkin » Dealergate continued: More on Chrysler and Clinton cronyism

Just some serious wierdness in how dealers where selected. Looks like there was some politicial dealings.

UK Government On Brink Of Collapse

UK Government On Brink Of Collapse
Wow. More problems for Gordon Brown.

U6 Alternative measures of labor underutilization

Table A-12. Alternative measures of labor underutilization
Ouch. In what was the largest jump in U3 we have gone to 9.4%
U6 is now at 16.4%
Just ugly numbers. If this pass held we would jump to 10% in two more months.
U6 would approach 20% in four months.

FT Alphaville » Blog Archive » Make no mistake, the ‘Baltic Three’ are in the dock

FT Alphaville » Blog Archive » Make no mistake, the ‘Baltic Three’ are in the dock

Most of Eastern Europe is a house of cards, one goes, the rest will follow soon. Very bad for some European countries. (We are looking at you Spain).

Colony Capital, Related Cos. May Seek Corus Bankshares Assets - Bloomberg.com

Colony Capital, Related Cos. May Seek Corus Bankshares Assets - Bloomberg.com
Yet another big bank about to go down.

REITs Love Hearing From Other REITs That All Is Good

REITs Love Hearing From Other REITs That All Is Good

Always funy stuff. CRE is a car speeding over the edge at the moment.

Chinese Junk by John Derbyshire on National Review Online

Chinese Junk by John Derbyshire on National Review Online
Must read of the day

Latvian bond failure begins

FT Alphaville » Blog Archive » Latvian bond failure begins

Back to Eastern Europe, where no green shots have been talked about. It looks Latvia is on the verge of collapse ala Iceland.

Appeals Court To Hear Chrysler Objection, Delay Bankruptcy Emergence

Appeals Court To Hear Chrysler Objection, Delay Bankruptcy Emergence

Once again things are not got so smoothly for the chrysler BK.

Editorial - Foreclosures - No End in Sight - NYTimes.com

Editorial - Foreclosures - No End in Sight - NYTimes.com
No signs of recovery in housing, just more falling.

FDIC's Economic Analysis

FDIC's Economic Analysis

Slide 35 - forecasts unemployment 9.1% for 2009 and 9.7% for 2010.

Funy that right now we are 8.9%. Based on the last year we would be looking like this.

May (Released in June) 9.2-9.3%

June 9.4-9.5%

July 9.5-9.6%

Aug 9.7-9.9$

Sept 9.9-10.2%

Oct 10.2-10.4%

Nov 10.4-10.6%

Dec 10.6-10.8%

So I dont see how we stop at 9.7%, especial since GM just doubled the number of dealership closing to over 2000. Equals about 100,000 in Direct losses. Top that with Part suppliers, service people and others and we are looking at 250-500K in indirect losses. That would push us to 11% easily by the end of the year.

Top all of this with no discussion of CRE losses. Still way too rosy for my taste.

GM enters bankruptcy, creditors howl

Hot Air » Blog Archive » GM enters bankruptcy, creditors howl
Great read. GM will be much tougher to get out.

Market manipulation, short-covering rallies and cyclical bulls - Credit Writedowns

Market manipulation, short-covering rallies and cyclical bulls - Credit Writedowns
I am going with number 2. No way are we out of the woods yet so that rules out number 3. As for 1 we would never know.

Interactive maps: GM's sphere of influence wraps the globe

Interactive maps: GM's sphere of influence wraps the globe

Awesome map.