Economics and Investing:

We’ll start with some relatively good news: Oil producers running out of storage space: Glut caused by world slowdown leaves the world awash in crude. (A hat tip to Charley S.)

Sean M. sent us a link to some charts sum up how bad things are getting, very succinctly:

DD sent this: As markets slump, U.S. tries to halt cycle of fear. (They may say that we have “nothing to fear but fear itself”, but I don’t think it is irrational to fear tens of thousands of unemployed and hungry people that have been kicked out of their foreclosed houses.

Frequent content contributor HPD sent this: TARP Investments Bleed Another $5 Billion: Report

Items from The Economatrix:

Job Forecast For College Seniors: Grimmer than Ever

Stocks Move Higher after Five Days of Heavy Selling

Shares Bounce Back in EU and Asia Despite Treasury Dire Warning

Ukraine on Brink of Bankruptcy

Asia Markets Gyrate on Global Fears

White House Knocks Jim Cramer for Calling Obama Budget “Greatest Wealth Destruction By A President”

Russian Scholar Says US Will Collapse Next Year

Bernanke: Banks May Need Even More Cash

Fed Launches New $200 Billion Consumer Credit Program