Life After the Oil Crash

Deal With Reality or Reality Will Deal With You

















Breaking News: Wednesday July 29th, 2009

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Today's News:

NY Times: More and More Americans Premptively Defaulting on Debts

Money and Markets: Goldman Sachs and Citi Win, the Rest of Us Lose

Market Watch: More than 1,000 Banks May Fail in the Coming Years

Market Watch: Bernanke Admits "This may be worse than the 1930s"

Washington Post: British Economy Plunging at Twice Expected Rate

Seeking Alpha: State and Local Pensions Have Lost Over $1 Trillion

MSNBC: New Retirement Plan for Americans is Just Keep on Working

My Budget 360: Gearing Up for the Impending $3 Trillion CRE Collapse

CNN: Banks Pretending $126 Billion in Delinquemmt CRE Don't Exist

Financial Armageddon: Wall Street's Gains are Main Street's Losses

Gold Seek: Foreign Creditors Dumping Dollar in Favor of Hard Assets

Los Angeles Times: Schwarzenegger Axes $500 Million from Budget

Los Angeles Times: Airline Employees Now Living in LAX Parking Lot

Arizona Central: 50% of Americans Only One Month from Destitution

Time: Dealers Hope to Clear Lots with "Cash to Clunkers" Program

Wired Magazine: Data Detailing NYSE Exposed on Unsecured Server

UK Guardian: Chinese Steel Workers Beat Boss to Death Over Job Cuts

Most important articles from yesterday:

Paul B. Farrel for Market Watch: 6 Rules for End of the World Investing

Charles Hugh Smith: Sell Now or Watch Your Capital Go Up in Smoke

Dr. Housing Bubble: Nearly 1 Million California Homes are Toxic Waste

From the LATOC Archives:

London Times: AIG Exec Joseph Cassano Has $1 Trillion Price on Head

USA Today: Tax Revenue Drops a "Staggering" 44% From a Year Ago

Wall Street Journal: Life in America's Cities About to Get a Lot Rougher

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