All eyes and ears are on the Fed this week. With Bernanke in New York discussing potential new bubbles and the New York Fed getting heat for overpaying AIG’s many creditors, investors are having a tough time knowing exactly who to follow.

For those of you who hold up the “Fire the Fed” signs, move over. I am thinking about joining your camp.

A bias to buy dollars remains…The Fed was warned as far back as 1999! Fujii gets “the memo”! A ton o’ data all around the globe this week! And Now… Today’s Pfennig!

Clowns to the left of us… Jokers to the right… The Simpleton’s Analysis: Consumers cut back. The economy sank.

The bank failure scene in the U.S. turned a shade uglier over the weekend. By this time tomorrow, it’ll probably be even worse.

Say what? Geithner begs for higher debt ceiling, says it will restore world confidence… Deficit now three times last year’s record… so Congress buys 8 private jets… A currency sea change? Bill Jenkins on the dollar’s surprise rally… Jim Nelson on the best sectors for income investing… John Williams digs deeper into Friday’ jobs report… four data distortions you need to know…

“It is critically important that Congress act before the [debt] limit is reached,” Tim Geithner wrote over the weekend in a letter to lawmakers, “so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations.”

 Goldman Sachs Would Have Collapsed If Not For Henry Paulson.

The future cometh…Cash for bankers! Cash for Detroit’s clunkers! From one scam to the next…But first, let us turn to the latest market update.

Recently, my colleague Marc Lichtenfeld and I took a collective pop at some lazy journalists and other media cheerleaders. Their crime? Whipping the investment community into false optimism through misleading headlines regarding earnings announcements.

China turns it up another notch… now “concerned about the security” of U.S. investments… Chris Mayer tells the “story of today’s economy”… Mainstream celebrates latest home price index… our perceptive on the housing “recovery”… Three market sectors currently detached from reality… The truth emerges… why Ben Bernanke really bailed out Wall Street…