A Monumental Petro-Wealth Transfer - Stephen Jen -  We are witnessing a monumental transfer of wealth to oil exporters, which may last beyond our generation.  There will be important geopolitical and security implications.  In this note, we highlight some of the economic and financial implications of this wealth transfer.  - Morgan Stanley
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SoCal Home Prices Plunge 27% in May - Nicholas Yuliko - … Wachovia’s new model for predicting defaults, which it unveiled in the first quarter, uses OFHEO home price data as an input … Wachovia’s loss estimates for its California loans assume prices will fall 14% from their peak levels, with 7.6% of that decline already occurring through the first quarter. … - TheStreet.com
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RateSpeed rolls out mortgage pricing tool - Widget can be embedded in any site - Matt Carter - Inman News

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wanna get scared? well written - The Road To Revulsion by James Montier - John Mauldin’s Outside the Box E-Letter 

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Oil Outperforming Oil Stocks</st