Tuesday morning links

TOP STORIES
Can China Save the World? - Time
Federal tax revenues plummeting - AP
BofA Among Worst for U.S. Mortgage Modifications - Bloomberg
BofA settles Merrill bonus case with SEC for $33 mln - Reuters
How I Learned to Stop Worrying & Love Goldman Sachs - Max Keiser
The New Financial Media - Real Property Alpha
Few Gains, Big Losses - Wash. Post
Hunky Dory - Kunstler, CFN

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MARKETS/INVESTING
Oil falls below $71 after big rally - BusinessWeek
The pros and cons of investing in gold - Telegraph
Excessive stockpiling by China may lead to price slump for metals - Mineweb
Commodities Jump to Highest Since October as Demand May Rebound - Bloomberg
Has the Market Gotten Ahead of the Recovery? - SmartMoney
Economic oil spill on the horizon? - CNN/Money

ECONOMY
U.S. Incomes Fall 1.3%, Biggest Drop in Four Years - Bloomberg
Recession has ended, but pain hasn't - Fleckenstein, MSN Money
Dr. Doom Sees Double-Dip Recession Risk - WSJ Economics
July ISM factory index moves closer to 50% - MarketWatch

INTERNATIONAL
Andy Xie: “Crazy Again” - Digital Times
Recovery 'not in sight' says BMW - BBC
Toyota reports $819 million quarterly loss - AP
China's Soaring Stocks Pose Risk to Global Markets - Time
Russia’s ‘Unsustainable’ Deficit Threatens Growth - Bloomberg
China moves to internationalise its currency - TimesOnline
Employment situation still grave in China: official - CHINADaily
Retail sales fall back in Germany - BBC

REAL ESTATE
Not Home Yet - New Yorker
Mortgage-Bond Rally May Sputter on Housing Reality - Bloomberg
One Dead Cat Bounce, Two Sucker Rallies to Go? - Seeking Alpha
Housing begins slow rebound - AP

FED/TREASURY/BANKING
Geithner Goes On Profanity-Laced Tirade - Huffington Post
Becker: Bernanke May Fail to Curb Inflation During Recovery - Bloomberg
FDIC tells banks to recognize mortgage losses promptly - MarketWatch
U.S. raids Colonial Bank office in Florida - Reuters

INTERESTING
A Canadian doctor diagnoses U.S. healthcare - LA Times
Think a coin toss has a 50-50 chance? Think again. - The Big Money
Goldman employees told no big purchases - Reuters
Marketing Madoff's mansions - CNN/Money

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