Economics and Investing:

HPD found this: Mish’s Global Economic Trend Analysis: Automotive Pension Disaster; $42 Billion in Pension Promises Completely Unfunded

Also from HPD comes word that another bank has bit the dust: BankUnited Bidders Said to Be Told Bank to Be Seized

GG sent this bit of MOAB expansion news in the Wall Street Journal: Fed Boosts Efforts to Aid Commercial Real Estate

Items from The Economatrix:

Geithner: Major Banks Have Raised $48 Billion (Under the new FASB accounting rules or the old?)

China Grows More Picky About Debt

Local Banks Face Big Losses “Study of 940 lenders shows potential for deep hit on commercial property.”

Big Changes in Store for US Credit Card Holders

John Deere Second Quarter Profit Tumbles 38%

US Housing Starts Plunges to Record Low

GM Bankruptcy Plan Eyes Quick Sale to Government

JPMorgan, Others, Line Up to Throw Off TARP Yoke

Gulf Currency Plan on Brink of Failure

Japanese Economic Decline: An Awesome Warning

Asian Shares Fall on Jitters Over US Recession

Gold: Investor Demand Soars Amid Inflation Fears

Dollar Hit as Geithner Hails Recovery Hopes

Fed: US Economy to Shrink 2% This Year

US May Create Financial Product Regulator

Day of Reckoning Looms For US Dollar “…a ‘serious case of dollar damage’ [is] underway.”

Former Head of Pension Agency Takes The Fifth

Very Bad … And Getting Worse (The Mogambo Guru)