posted by Bill Coppedge 

Real Gas Prices: We’ve Had It Good for a Long Time - Mark Perry  - Carpe Diem 

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1.  Hedge fund industry hit by worst crisis in a decade - LONDON: The hedge fund industry is reeling from its worst crisis in a decade as banks demand more money pledged to support outstanding loans even when the investment is backed by the full faith and credit of the United States . - Bloomberg IHT 

2.  Hedge Funds Reel From Margin Calls Even on Treasuries -  Bloomberg 

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UBS: U.S. Bailout for Homeowners Will Arrive by October - …  George Magnus, UBS senior economic advisor… also estimated that the total likely losses from the credit crisis could reach as high as a trillion dollars … Gary Smith -  seeking alpha

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Mortgage Delinquencies; The Best Indicators of a Future Foreclosure -  Analytical Wealth

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Can We Bury the Middle Class Income Myths? - additional thoughts from WSJ article - … the average household size has shrunk from 3.14 to 2.57 persons — a drop of 18%. The meaning? Even a “stagnant” average household income implies  … - Mark Perry - seeking alpha 

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Here We Go: PIMCO’s Bill Gross Says Fed Should Buy Mortgages - Fund my Mutual Fund 

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UCLA Forecast: No Recesssion, Just the Cusp of One -  The well-known UCLA Anderson Forecast released its first quarterly report for 2008 on Tuesday, and said it remains confident that the national economy was not in… -  housingwire 

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Tax Increases Reduce GDP - Christina D. Romer and David H. Romer - “Tax changes have very large effects: an exogenous tax increase of 1 percent of GDP lowers real GDP by roughly 2 to 3 percent.” - NBER 

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Disconnect in Treasuries: the Bond Revolt Begins - Michael Shedlock - seeking alpha

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Fitch Comments on MBIA’s Request to Withdraw Ratings - thanks Ira Artman - riskcenter.com  free reg. 

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Do You Believe The Yield Curve? - mymoneymylife  

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Preventing the Next Mortgage Crisis - 7 suggestions - Markham Lee - Analytical Wealth 

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Foreclosure Versus Delinquency: Either Way, Financials Will Pay - Thomas Tan - seeking alpha

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MORE THOUGHTS ON TSLF:

1.  Bove: Fed Rescue for Bear Stearns - “The Federal Reserve’s actions Tuesday may have been strongly influenced by Bear Stearns’ problem.” - Dick Bove, Punk Ziegel & Co. -  The Big Picture 

2.  Fed action may have targeted Bear Stearns - MarketWatch

3.  more on TAF & TSLF - Redirection of Liquidity, Not Creation of Liquidity - David Merkel  - The Aleph Blog 

4.  Fed Steps Up to Provide Liquidity - The Razor’s Edge - Market Commentary - Ockham Research