Hussman Update, China Debates, Top Step, Credit Default Options, Bond Bubble (Siegel), State Pensions, Breakfast w/ Dave

powerLINKS, financial news arbitrage (pL archive)

Goldman Sachs, Morgan Stanley Split on Junk as Prices Soar: Credit - Bloomberg

Sequential Signals by John Hussman - Hussman Funds

Breakfast with Dave: Surveys Say Hunker Down for a Slow Recovery by David Rosenberg - FMXconnect

Swaps on U.S. Government Debt Climb to Highest in Six Weeks (CDS 49.4bps) - Bloomberg

Treasury 10-Year Yield Trades Near Three-Week Low Before Home Resales Data (2.56%) - Bloomberg

Gov't needs $133.78 a share to recover GM money - AP

Exposure at Default: Does Bank American Have Any Alternatives for Countrywide? - by Chris Whalen of Institutional Risk Analytics - Zero Hedge

CHANOS: CHINA IS THE NEXT ENRON - Pragmatic Capitalism

Shaun Rein (bull) vs. Andy Xie (bear) on China property market - CNBC Video (after jump + more links)

Facebook CEO Mark Zuckerberg Donates $100 Million To Fix Newark New Jersey Public Schools - Business Insider (Wow)

Kass: Votes of No Confidence - (9/20)

14 REITs Increasing Dividends Annually -

Bond Risks and How to Beat Them - Professor Jeremy Siegel at Yahoo Finance (9/17/2010)

Update from MrTopStep "Feeling A Bit TOPPY"

Facebook’s Zuckerberg Now Richer Than Apple’s Steve Jobs - Forbes

Here Comes Protectionism: House To Vote On Legislation Pressuring China To Revalue Currency - Zero Hedge

13,000 Wayne County properties to hit auction block - Crain's Detroit Business (9/17)

China vs. Japan:

Amid Tension, China Blocks Crucial Exports to Japan - New York Times

Prescription to end territorial row: Japan and China should think beyond logic of sovereignty -

Japan-China island tensions rise - The Japan Times

California Employment Hooks Downward Once Again -

`Death Spiral' Besets State Pensions as Benefits Grow - Bloomberg

Wal-Mart's CEO Provides The Starkest Visual Of The Modern Bread Line Yet - Zero Hedge

New Z.1 Data Out by Fed (Flow of Funds) - Pragmatic Capitalism (credit market debt/GDP, sector debt/GDP)

Albert Edwards On Terminal Competitive Devaluation, The Nuclear Option, And How The Fed's Policies May Start An All Out War - Zero Hedge

S&P: Distress Ratio For Speculative Debt Eases In Past Month - WSJ

CBOE Plans to Challenge CDS Market With Credit-Default Options - Bloomberg