Tuesday Morning Links

State Debt Woes Grow Too Big to Camouflage - NY Times
Half of Commercial Mortgages to Be Underwater: Warren - CNBC
Greek Bonds Decline on Funding Concern After New Debt Sales - Bloomberg
Wall Street banks asked for details on trading in state bond - LA Times
Lazy Portfolios or a 2012 Collapse: It’s OK to believe in both - MarketWatch
Vale, BHP End Annual Ore Talks; Vale Wins 90% Jump - Bloomberg
Is There Excess Bullishness or Malaise (or both)? - The Big Picture
Fannie & Freddie: The biggest bailout - NY Post

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Oil futures trade flat ahead of inventory, economic data - MarketWatch
Gold Rises to One-Week High on Demand for Alternative to Dollar - Bloomberg
Collapsing Spreads and Booming Junk: Time to Get Short - Dollar Collapse
China Gold Demand May Double Within Decade, WGC Says - Reuters
CFTC Gold and Silver Hearing Is Old News - Seeking Alpha
Dreamlike - Saut, Raymond James

The Mother of All Jobless Recoveries - The Atlantic
How Can Rick Davis Project 2nd Qtr GDP at -1.5%? - Sense on Cents
Americans are now back to the overconsumption norm - Credit Writedowns
$600 million in housing aid on the way for 5 more states - CNN/Money
Instead of an economic shot in the arm, a shot in the foot - LA Times
Healthcare and Economic Realities - Ron Paul

Greek Bonds Under Renewed Pressure - WSJ
China shows new divisions on yuan - Reuters
Ireland Prepares ‘Emergency Transfusions’ for Banks - Bloomberg
U.S.-Bound Boxes Pile Up in Asia as Lines Avoid Adding Ships - Bloomberg
The exorbitant privilege from a global perspective - VoxEU
UK emerges from recession stronger than expected - Telegraph
China Tightens Lending Rules to Deter Real-Estate Speculators - Bloomberg
Japan plans targets to reduce debt level: media - Reuters

‘Zombies’ cloud housing recovery - O.C. Register
New CMBS Projections Push 2010 Delinquencies into Double Digits - Housing Wire
Bank of America to Increase Foreclosure Rate by 600% in 2010 - Irvine Housing Bubble
Californians may have to pay tax on canceled mortgage debt - Mercury News
Spurt of Home Buying as End of Tax Credit Looms - NY Times
HAMP = Foreclosure - LFI

The curse of low interest rates - Fortune
Fed’s Evans: Monetary policy not effective for pricking bubbles - Reuters
Critic Group Urges Fed to Act to Control Inflation - WSJ
The Issue of Liquidity Bubbles Up - NY Times

Felony Marijuana Cases Getting Tossed Out Of Court - HuffPo
Want To Make Money In The Media Business? Have A Conservative Bias - Business Insider
Mysterious Whale Die-Off Is Largest on Record - LiveScience
The war on WikiLeaks and why it matters - Salon