A recession warning, extending the short-selling bans and your books for free.

• CBC. TD warns of Canadian recession. “A major Canadian bank says the economy ground to a halt in the second quarter and could slip into recession if the United States continues to weaken.”
• The Globe and Mail. Is the CMHC financing a house of cards? “Is there a bubble in real estate? Canadians have been arguing about this for years.”
• The Globe and Mail. Debt will haunt the market for years. “Call it the summer of debt.”
• National Post. Fed’s Hoenig says doesn’t see U.S. recession looming. “The U.S. economy will continue to grow at a modest pace as consumers and businesses pare back excessive amounts of debt, a top Federal Reserve official said.”
• National Post. S&P prompts $1-trillion stock loss. “Shareholders in U.S.-listed companies can thank Standard & Poor’s for making them $1 trillion poorer after the rating firm earlier this month lowered the grade on Treasury securities for the first time to AA+ from AAA.”
• The Economist. Waiting for the earth to open. “The usual accelerators of recession are absent – but so are the brakes.”
• CNN. Economy takes step closer to flat line. “Economic growth in the second quarter was slightly weaker than previously estimated, according to revised U.S. government data released Friday.”
• The New York Times. European market regulators extend bans on short-selling. “French, Italian and Spanish stock market regulators decided Thursday to extend the temporary bans on short-selling introduced this month in a bid to stem market volatility.”
• The New York Times. Doubts still harbored about Europe’s banks. “It is probably too early to panic about the European banking system, as some traders seem to be doing. But that is no reason to rest easy.”
• Retire Happy Blog. Strategies to deal with market volatility. “This week the markets continue to jump around so I thought it would be appropriate to share my thoughts on investment strategies to deal with market volatility.”
• Squawkfox. 10 ways to score textbooks for less. “Paying $300 for a 100 page textbook isn’t cool.”
• Moneyville. Why you should try renting your textbooks. “A recent RBC Student Savings and Spending Poll showed that 33 per cent of first-year post-secondary students expect to rack up significant amounts of debt while in school, and a further 38 per cent are deferring worrying about it until graduation.”
• Canadian Finance Blog. You realize books are free, right? “Let me say, right from the beginning of this post: Kindles, Kobos and other kinds of e-readers are pretty cool.”