One of Hawaii's premium resorts, the Maui Prince, located in the pristine Makena-Wailea side of the island, is facing foreclosure as a joint venture between a local developer and Morgan Stanley missed a nearly 200 million payment to Wells Fargo in the last few days. This is a stunning situation, given the scope of the potential can of worms that's about to be opened if the foreclosure isn't forestalled.

First, the good news about Bernanke’s nomination for a second term as head of the Federal Reserve (Fed): we know what we are getting and may be able to prepare for the risks his continued leadership may pose to inflation and the dollar. The bad news: more of the same.

If you bought a house near the top of the bubble, you may be in significant trouble. Indeed, the Homebuilders Index (HGX) is trying to move to the next level. Yet, there are signs that the mortgage market will be a long time in recovering. Thus, the question for investors is whether this sector is worth risking.

Hurricane Bill and Tropical Storm Claudette signaled the start of a late blooming hurricane season, coinciding with a significant change in the political weather from the White House. Thus as the scales reach critical mass toward the negative, investors should take the opportunity to reassess the landscape.

The S & P 500 (SPX, below) is exhibiting very low volatility and congregating around its 20-day moving average. This is a classic chart formation, especially when you throw in the shrinking Bollinger Bands. And it means that the market is getting ready to move in a big way. The problem is that you can’t tell the direction.

California's housing market posted a surprise surge in January, raising the question of whether this is a regional phenomenon or the start of something that will spread throughout the country.

Those who can closely monitor trading positions may get a chance to trade the long side, as a vastly oversold market looks ready to bounce on Wednesday.

Bear market rallies tend to be swift and treachearous. And until proven otherwise, any bounce in this market is just that, a bear market rally. That being said, it's important to be able to take those opportunities to trade the long side when they present themselves.

Small business, already hobbled by a tough business climate, and tough to find credit, now has to deal with a new problem, that of rising employee theft. According to The Wall Street Journal: "Employee fraud -- from check-forgery schemes to petty-cash theft -- tends to rise during tough economic times, when workers are feeling financial pressure in their personal lives, experts say. And small companies are especially vulnerable because they often lack stringent internal controls to prevent fraud.

Sleepless nights, the lack of joy in everyday life, and the steady withdrawal from loved ones are signs of clinical depression. And when we look around, we can't help but wonder if America is starting to develop a case of a countrywide funk, with a little help from Congress, the mainstream press, and circumstances.

It was bound to happen and it did, as the Drudge Report finally ran the headline; "Paper: Has Obamas' Presidency Already Failed?

President Obama, in his radio address, tried to salvage his less than striking victory on getting the House of Representatives to pass his economic stimulus package over the weekend. But the reality of how difficult it will be for the president to accomplish anything in Washington has clearly begun to set in, sending financial markets into what could be another down leg, and a possible test of the November lows.