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