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Morning six-pack: What we're reading Tuesday

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The "T" stands for "Tuesday" and, perhaps, "taper." That seems to be the magic word this week, so let's start off the morning six-pack with that theme in mind:

J.C. Penney is in big trouble, and it doesn't matter what the earnings say. Analyst Brian Sozzi says be afraid, be very afraid.

Lots of people in Congress are crazy rich. How rich? Rep. Darrell Issa (R-Calif.) is a third-of-a-billionaire, and Sen. Mark Warner (D-Va.) could buy and sell you like a thousand times over and still have enough change left to buy a Bentley. Check out the slideshow on the The Hill.

In India, folks are freaking out over how far and how fast their currency, the rupee, is depreciating. Welcome to our world, guys.

We haven't had a bond bear market since Bill Clinton was president. This is what a bond bear market looks like, as related by Bespoke Investment Group.

So now that we know what the depths of a bond bear look like, here's what the top of a crazy rising equity market might resemble.

And, finally ... you think the shadow banking system around here is wild? Check out what it looks like in China, as reported by CNBC Asia's Eunice Yoon.

By CNBC's Jeff Cox. Follow him @JeffCoxCNBCcom on Twitter.

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