Holes in that Great Housing News – Tim Iacono is skeptical about a housing recovery, and for good reason.

Fair Value for the S&P 500? Tell Me Lies – Macro Man explains the distorting effect that operating earnings have on corporate earnings (as we have been trying to do over the past few weeks).

Bashing Goldman Sachs is Simply a Fools Game – Bravo Michael Lewis.

Govt May Limit Energy Speculation – It’s awfully hard to argue that market forces were behind the runup in oil to $147 a barrel.

Bill O’Reilly’s Healthcare Math – Asked by a viewer why life expectancy rates are higher in Canada than the U.S., O’Reilly replies “Well, we have 10x more people than you, and that means 10x more accidents, heart attacks, etc”. Wow…

Banks Still Need More Cushion – Rolfe Winkler: “It was a surreal moment two weeks ago when analysts on Goldman Sachs’ earnings conference call pressed CFO David Viniar to jack up leverage.”

Krugman, Healthcare, and the Free Market – Interesting piece from Mises.org. One of, if not the most important issues we face today.

Man Without a Plan – 94 year-old economist Anna Schwartz offers her opinion on why Bernanke does not deserve reappointment.

The Economist presents an entertaining take on inflation and fed policy:

fed-inflation