Tuesday March 11 Housing and Economic stories

Top Stories:

Additional Side effects of Fed/US Government Inflation:
· State's newest gold rush: Catalytic converter thefts - Inside Bay Area - (www.insidebayarea.com) – Fed inflation having additional side effects as Palladium is selling for $1000/ounce
· San Leandro auto store owner busted in catalytic converter thefts - (www.sfgate.com)
· Oil Rises to Record $107 as Returns Outpace Financial Markets - (www.bloomberg.com)
· U.S. Gasoline Price at Record $3.20, Lundberg Says - (www.bloomberg.com)
· Live power line kills suspected copper thief - (www.mercurynews.com) – Over 2 dozen killed during copper thefts in last 2 years.

Frank Calls for ‘Prudent’ Write-Downs - (www.ml-implode.com)
Hold off on that U.S. vacation house, guru advises - (www.thestar.com) – US realtors and brokers trying to do a con job north of the border. Do not fall for their tricks.
'No one predicted' current housing bust? - (latimesblogs.latimes.com) – More stupid comments by Mozillo. Check out Patrick.net, Sir John Templeton, Buffett, Robert Prechter, and yours truly
Uncle Sam -- Master Mortgage Pusher - (www.lewrockwell.com)
Gov't fixes can't force banks to lend - (www.businessweek.com)
Fed's New Role as Pawnbroker - (Mish at globaleconomicanalysis.blogspot.com)
Hedge Funds Reel From Margin Calls Even on Treasuries - (www.bloomberg.com)
Carlyle Capital crisis deepens amid fire sale threat - (business.timesonline.co.uk)
Aging Boomers will devastate housing market - (www.sfgate.com)
Bank Mistakenly Starts Foreclosure Process on Wrong House - (www.curbplaces.com)
KB Home shutting New Mexico, Chicago and Mid-Atlantic offices - (albuquerque.bizjournals.com)
Blacklisting Hits House Sellers - (www.realestatejournal.com)
About 6% of U.S. mortgages delinquent - (www.freep.com) – So 6 out of every 100 people in some stage of foreclosure today


Other Stories:

Will Downsizing McMansions Fatten Architects’ Wallets? - 'In a ruling that could help bolster the enforcement of zoning ordinances that cap house size, the Massachusetts Supreme Judicia... - (www.ml-implode.com)
Unions tackle housing and foreclosure crisis - “The seeds of this crisis were sown long ago and are symptoms of a low-wage economic strategy where workers are given the power ... - (www.ml-implode.com)
Bearish Bets on Bear Stearns - 'Options activity is heavily tilted toward bearish bets, with aggressive players buying put options on March options contracts a... - (www.ml-implode.com)
How building slump hurts nearly everyone - ' The credit environment is only going to get worse as time rolls on, since the prospect of a recovery keeps getting pushed out,... - (www.ml-implode.com)
A Grucho Marx Moment - (www.ml-implode.com)
Moody's Downgrades Bear Alt-A Deals - (www.ml-implode.com)
Credible & Fitch - (www.ml-implode.com)
Money Markets May Force BOE to Revive Cash Auctions - (www.ml-implode.com)
Small Missouri Bank Is Shuttered - (www.ml-implode.com)
Is Your State In A Recession? - (www.ml-implode.com)
Rated AAA, but riskier than junk- think CPDOs - (www.ml-implode.com)
Next shoe to drop: Prime mortgages - (www.ml-implode.com)

Banks face "systemic margin call" - (news.yahoo.com)
U.S. Mortgage Market Needs $1 Trillion - (www.bloomberg.com)
Investors Dump Securities From Fannie, Freddie - (www.washingtonpost.com)
Preparing for a 'real estate apocalypse' - (www.thestar.com)
U.S. Stocks Retreat, Led by Commodity Shares - (www.bloomberg.com)
Company Bond Risk Rises as Hedge Funds Face Collateral Demands - (www.bloomberg.com)

Jobs Data Suggest U.S. Is in Recession - (online.wsj.com)
More People Pushed Into Part-Time Work Force - (online.wsj.com)
Fannie Mae Interest Rates Rise - (www.nytimes.com)
House Foreclosures Hit Record High - (www.sfgate.com)
Dollar dives as bold Fed rate cut eyed - (money.cnn.com)
TIPS' Yields Show Fed Has Lost Control of Inflation - (www.bloomberg.com)
Mortgage lenders see more borrowers give up - (www.usatoday.com)
The Fed's Fix - (www.forbes.com)
The bankers mess up, and taxpayers foot the bill - (www.chron.com)
Stuck with a bad loan - (www.ajc.com)
Subprime Lending's Smartest Guys in the Room - (www.motherjones.com)
BMW to increase US production while cutting German workers - (www.ajc.com)

Housing market spirals down, no end in sight - (news.yahoo.com)
San Diego Median House Prices Pummeled in Feb - (voiceofsandiego.com)
Canada not immune from subprime crisis - (network.nationalpost.com)
Credit derivatives turmoil strikes - (www.ft.com)
Are Low P/Es a Valid Reason to Buy? - (online.wsj.com)
Little Hope for Debt Upgrades - (www.cfo.com)
Margin Calls Pummel Hedge Funds - (www.nytimes.com)
Peloton puts offices on market - (www.ft.com)
Renters priced out of L.A. - (www.latimes.com)
Lease-to-own homes enter in down market - (www.chicagotribune.com)
Money Markets May Force BOE to Revive Auctions, Barclays Says - (www.bloomberg.com)
Global subprime losses hit $215 billion: Japan's FSA - (www.reuters.com)

Carlyle Capital margin calls soar past $400 million - (www.marketwatch.com)
Fannie Mae CEO Visits Asia, U.K. To Calm Investors - (online.wsj.com)
Carlyle Capital Says Lenders May Force Further Sales - (www.bloomberg.com)
Many Have Claimed To Be Recession-Proof, Few Have Managed It - (online.wsj.com)
Oil groups suffer Gulf of Mexico setback – (www.ft.com)
Retailing rivals taking a bite out of trendsetting Target - (www.chicagotribune.com)
Anemia Drugs Face Scrutiny From FDA Panel - (online.wsj.com)

China's Producer-Price Inflation Accelerates to 6.6% - (www.bloomberg.com)
China Trade Surplus Narrows as U.S. Demand Weakens - (www.bloomberg.com)
U.K. Producer Prices Match Fastest Annual Gain Since 1991 - (www.bloomberg.com)
Russia, Nigeria Cut Gas Sales, Raising Importer Costs - (www.bloomberg.com)
N.Z. Housing Market Cooling Sooner Than Forecast, Treasury Says – (www.bloomberg.com)
Affluent towns rising in Vietnam - (www.latimes.com)

Central bankers cannot stop this contagion - (www.ft.com) ($) , Munchau
The Face-Slap Theory - (www.nytimes.com) , Krugman
New device helps contractor deter copper thieves - (www.azcentral.com)