• 1) More currency (dollar) interventions by Hong Kong,
• 2) Commercial Real Estate Bust Looms

Owners of shopping malls, hotels, office space and apartment buildings — and the bankers who financed them — face a major crunch

• 3) US taxpayer ‘will not benefit’ from bank bailouts

(related) FDIC seeks bailout ban, risk fees

• 4) New York Faces December Cash Squeeze, Governor Says

“Oct. 21 (Bloomberg) — New York Governor David Paterson said the state may not have enough money in December to pay all its bills, as he urged legislators to quickly agree to plans to close a $3.1 billion deficit and raise cash.

Bond rating companies will be watching the state, and may reduce New York’s ranking if it drew money from its $1.2 billion rainy day fund or created a financial plan with unrealistic revenue forecasts, Paterson said at an Albany meeting with leaders of the Senate and Assembly.”

• 5) Chicago pensions consuming your city services

“In 2010, 43.3percent of the city’s general levy, or $345 million, will be used to fund pension contributions for city employees. State lawmandates that the city contribute an amount to each pension fund based on payroll contributions made by employees.”

• 6) Go for Gold: If the Fed Keeps Printing, the Dollar Will Keep Falling (video)
• 7) Fitch: Pension Contributions Remain a Credit Concern for U.S. Corporate Issuers in 2009/10

“According to the report, at the end of 2007, the plans of the 214 non-financial U.S. companies with pensions rated by Fitch were approximately 103% funded, but following the dismal performance of the equity markets in 2008 in the aggregate plans were underfunded at approximately 76% on a generally accepted accounting principles (GAAP) basis, and the median company was 71% funded.”

• Options on Jacksonville pension mess: tax hike or cut in benefits

“The city’s pension plans - especially the interest payments on the unfunded liability - is “what’s eating the city’s lunch,” according to John Keane.

Keane is the executive director of the Jacksonville Police and Fire Pension Fund, which accounted for about $789 million in unfunded liability after the stock market went south.”

• 9) TREASURIES-Debt auction worries push bonds lower

Treasury auction total next week expected to be record

By Chris Reese

“NEW YORK, Oct 22 (Reuters) - U.S. Treasury debt prices eased on Thursday, weighed down by persistent worries that massive amounts of pending government debt issuance will take a toll on bond prices.

The Treasury on Thursday will announce the size of next week’s note auctions, with many analysts expecting the total weekly offering to exceed the record of $115 billion seen in July.”

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“Investors are worried that this could jeopardize the country’s top-tier credit rating.”

• 10) Hawaii learns of days off with anger

“NEW YORK: Thousands of parents in Hawaii have been scrambling to make childcare arrangements before today’s closure of all state schools in an attempt by the education authorities to cut costs.

All 256 of Hawaii’s state schools will be closed in the first of 17 ”furlough Fridays” over the school year, bringing a drastic cut in school time for up to 171,000 children.”

• 11) Losing their lifeline - 7,000 a day

“As the Senate debates whether to extend unemployment benefits, more than 200,000 jobless Americans are set to see their checks stop in October.”

……in other words