Economics and Investing:

Several readers sent this: About half of U.S. mortgages seen underwater by 2011

This was linked over at the Total Investor blog: China Warns Developed Nations of Inflation, Currency Threats

Straycat sent this one: Hunger Hits Detroit

Items from The Economatrix:

Cash for Clunkers Gets $2 Billion Refill

Job Losses Slow to 247,000; Jobless Rate Dips

AIG Reports 2Q Profits, First Since 2007s

Oil Rises Over $72 as Job Loss Slows

Fannie Mae Loses $15 Billion, Seeks $10.7 Billion in Aid After 2Q Loss
The Mother of All Bailouts (MOAB) will not stop growing for at least a decade!

Mish Shedlock: Weekly Unemployment Claims Portend Disaster

Fed Laundering Money Through the Big Banks into the Stock Market

If You Hated Gasoline at $4 a Gallon, Imagine it at $20