FT: China stuck in ‘dollar trap’ – China is still buying record amounts of US government bonds, in spite of Beijing’s increasingly vocal fear of a dollar collapse…

Bloomberg: Housing Hitting Bottom by June Means Fewest Starts Since 1945 - “There are very few V-shaped recoveries in the history of real estate, and this one is likely to be even slower because of the size of the bubble,” said Robert Shiller…

Bloomberg: JPMorgan $29 Billion WaMu Windfall Turned Bad Loans Into Income – more funny money…

Bloomberg: Lowest Libor Hides ‘Exceptionally Wide’ Bank Spreads – all is not what it seems…

AP: Saudi oil minister: OPEC to hold output steady- new leg down?

WSJ: Obama Administration Sparks Battery Gold Rush – a gold rush to power new environmentally friendly cars…somebody usually gets frozen to death in gold rushes…

CNBC: Home Prices Tumble by Record 19.1% – housing bottom?