Life After the Oil Crash

Deal With Reality or Reality Will Deal With You

















Breaking News: Friday August 28th, 2009

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Banking System, and Industrial Economy Breakdown News:

Editor's Note: for anybody who cares, we're having a very interesting discussion of the NY Times article on what will happen to the hordes of unemploymed but heavily indebted (to the tune of $200,000 in some cases) attorneys now matriculating from the nation's top law schools. The rest of the news:

Daily Kos: "A secret so dark it will destroy the global banking system"

CNBC: Bank CEO, "A thousand banks will fail over the next two years"

Market Watch: Number of Distressed Bank on FDIC List Now Over 400

Washington Post: The Banks "Too Big to Fail" Have Grown Even Bigger

Seeking Alpha: FDIC Will Implode as the "Too Big to Fail" Begin Failing

The Atlantic Monthly: Inside the Final Apocalyptic Days of Merrill Lynch

Wired Magazine: Old American Dams Now Multi Billion Dollar Threats

Collapse of U.S. Cities and States:

Market Watch: California Resorts to Giant Garage Sale to Raise Money

Newsweek: Sorting Through the Rubble of California's Suburban Slums

Wall Street Journal: Unemployment Destroying Americans' Marriages

NY Times: Economic Collapse Haunting Americans Even as They Sleep

NY Times: Once Booming Sunbelt Cities Getting Ripsawed by Layoffs

CNBC: Consumer Confidence in Worse Shape Since 1946 on Job Losses

Crimes, Conspiracies and High Weirdness:

CNET News: Bill Would Give President Emergency Control of Internet

Wall Street Journal: Goldman Sachs Subpoened on Trading Huddles

Bloomberg: Californians Lose $1 Billion on Unconstitutional Bond Sales

Most Important Articles from Yesterday's Update:

Business Week: Those who Have Jobs Should Brace for Huge Pay Cuts

Money News: Fed Official Admits Real Unemployment Rate Over 16%

Yahoo Finance: U.S. Retailers, Consumers in "Complete Death Spiral"

From the LATOC Archives:

Newsweek: Science Behind the Mental Resilence of Elite Military Units

Boston Globe: How Living in the City Hurts Your Psychological Health

NY Times: Nature Therapy Found to be Effective for Children with ADD

Discover Magazine: Enzymes in Soil Found to Fight Depression, Pain

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