Life After the Oil Crash

Deal With Reality or Reality Will Deal With You

















Breaking News: Monday November 2nd, 2009

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Financial Collapse:

Jim Kunstler: "Things are veering to extreme desperation in America"

Sprott: "U.S. government on trajectory to defualt on its obligations"

MSNBC: Commerical Banking Giant CIT Files for Bankruptcy Protection

Associated Press: Retail Faces Uncertainty as CIT Enters Bankruptcy

Equifax: Small Business Bankruptcy Filings up 44% in Last 12 Months

Newsweek: Stocks Take Off With Absolutely No Connection to Reality

Wall Street Journal: Companies Hoarding Cash More than in 40 Years

Financial Times: Mother of All Carry Trades Faces an Inevitable Bust

Market Watch: Trillion Dollar Derivatives Bomb to Explode Under Banks

Mish Shedlock: Each Job Obama "Creates" is Costing Us $323,739.83

Collapse of State and National Governments:

NY Times: California's Financial Nightmare About to Get "A Lot Worse"

L.A. Times: California Forcing Taxpayers to Provide State with Loans

Mish Shedlock: Houston's Financial Crisis to Spiral Into Bankruptcy

UK Telegraph: Japan Drifting Helplessly Towards Dramatic Fiscal Crisis

Real Estate Market Collapse:

Bloomberg: Billionaire Investor Sees CRE Market Collapse on the Way

Dr. Housing Bubble: Option ARMs Enter Eye of Hurricane in California

Newsweek: Unemployed Middle Class Gets Ravaged by Foreclosures

Bloomberg: Bonuses on Wall Street to be Fatter Than Ever This Year

Seeking Alpha: How Bloomberg Fabricates Housing Market Numbers

Mish Shedlock: Banks Using "Social Management" to Induce Debtors

Gold, Silver, the Dollar:

Market Watch: Gold Futures End Above $1,060 an Ounce as Dollar Falls

Money Week: China Plans on Diversifying Out of Dollars and Into Gold

Newsweek: Wealthy Investors Secretly Hoarding 100 Oz Bars of Gold

Most Important Articles from Yesterday's Update:

Zero Hedge: Small Ga. Town Targeted by FDIC, FHA, Fannie, Freddie

Wall Street Journal: Enraged Citizens Plotting Against Largest Banks

UK Daily Mail: British Police Raid Citizens' Bank Safety Deposit Boxes

Articles from the last few months worth a second look:

Charles Hugh Smith: Local Governments Now Opening Debtors Prisons

NY Times: Safety Nets for the Rich, Hard Asphalt Splat for Middle Class

Alternet: "Dow at 10,000 while the real economy burns to the ground"

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