Economics and Investing:

From the Dr. Housing Bubble blog: Three Westside Shadow Inventory Homes. Santa Monica, Culver City, and Rancho Park. Banks will not Hold Inventory Forever.

John S. sent this: Bailout cop: Treasury set ‘unrealistic expectations’ Barofsky, reviewing the first big bailouts to 9 firms, concludes that the government was too rosy to the public about the banks’ health. (Read: They fibbed.)

Tom B. thought this might be of interest: Baker Hughes: US Oil, Gas Rig Count Up 7 To 1,024 This Week

Damon mentioned: Is world economy still in deep woods? (The IMF announced that it plans to sell 8% of its gold reserves.)

Items from The Economatrix:

Ad Slump Leads Gourmet, Three Other Magazines to Close

Stocks Rise as Service Industry Activity Improves

Service Sector Grows in September, First Time in a Year

BofA to Select Emergency CEO

Oil Falls Ahead of Week of 3Q Earnings

Crash/Collapse Dead Ahead Say Faber, Rogers, Dent, and Celente

Waking Up to Discover the Mortgage Market Was a Giant Criminal Enterprise

Obama’s Permanent Depression

Consumer Bankruptcies Surge Past One Million in First 9 months of 2009

World Bank And IMF Join Global Attack on the Dollar

AAR Reports Rail Traffic Remains Down