MUST READS
Greece aid package boosts stock markets – BBC
Greece to default as eurozone agrees on bailout – Telegraph
Obama, Boehner rush to strike deal, Democrats fume – Washington Post
Debt talks — lots of talk, no visible progress, as clock ticks – McClatchy
Debt-Limit Showdown Threatening Retirement Unsettles Seniors – Bloomberg
The Drive to Cut Social Security by the Gang of Six – HuffPost
The Sovereign Debt Crisis and Currency Sovereignty – Credit Writedowns
Alabama county mulls options as bankruptcy looms – Reuters
Goldman Model Planted Seeds of Distress – Bloomberg
Pity the Policymakers – El Erian, Project Syndicate
Debt and Delusion – Shiller, Project Syndicate

MARKETS/INVESTING
Oil heads to $100 on Greece aid deal – AP
Gold firms on worries over debt – Reuters
Oil prices briefly top $100 a barrel – CNN/Money
IEA Gives the Oil Market a Passing Grade – WSJ
Will Sprott’s Physical Silver Trust Follow-On Break the Bank? – Jesse’s Cafe
John Paulson Capitulates, Lowers Net Exposure From 81% To Below 60% – Zero Hedge
Marc Faber on Gold, Silver, Deflation and the U.S. Economy – Market Oracle
How to Trade Gold After the EU Debt Deal – CNBC
Silver’s a worthy gold rival – MarketWatch

ECONOMY/WORLD/HOUSING/BANKING
The Lesser Depression – Krugman, NY Times
Economic stresses shadow back-to-school spending – MarketWatch
Laid Off On Wall Street: Lowest-Paid Workers Losing Jobs – HuffPost
U.S. recovery from crisis far from complete: Bernanke – xinhuanet
Europe’s Biggest Banks Face $30B Greek Writedown – Bloomberg
Spanish Banks’ Capital Quest Snares Customers – Bloomberg
Just 49% Say Home Is Worth More Than Mortgage – Rasmussen
D.C.’s Housing Market: Exceptional No More? – WSJ
FHFA house prices down 6.3% from one year ago – Housing Wire
Evans urges new Fed action if economy falters – Reuters
Geithner to meet Fed’s Bernanke, Dudley on Friday – Reuters
Fractional Reserve is Not the Problem – Daily Capitalist

MUST READS
Germany and France in debt deal – BBC
ECB said to accept temporary Greek default – Reuters
Obama opens door to short-term debt deal – Washington Post
Why debt-ceiling brawl hasn’t rattled bonds, yet – MarketWatch
Franco-German axis loses its wheels – Telegraph
Fed planning for potential U.S. default – Financial Post
HSBC’s China flash PMI points to contraction – MarketWatch
High-End Prostitute Bust has Folks on Wall St. Sweating – CNBC
Too Big To Fail Remains Bigger Problem Than Ever – HuffPost
Brian Sack Hints What QE3 Will Look Like – Zero Hedge
Brussels fiddles while Rome burns – Telegraph

MARKETS/INVESTING
Oil falls below $98 as US debt deadline looms – AP
Gold hovers around $1,600/oz; euro zone summit eyed – Reuters
Massive short squeezing on the way for Silver – Commodity Online
The Shape Of Market Bubbles, With A Special Look At Gold – Business Insider
Yukon Once Again a Leading Address for Gold Exploration – StockHouse
Asian investors stricken by gold fever on record price – Reuters
Selling gold: How much that old ring is worth now – CNN/Money
Investors again pay big for dot-com stocks – USA Today
Gold Push Unlikely to Be Scrapped – WSJ($)

ECONOMY/WORLD/HOUSING/BANKING
U.S. Consumers Relying on Credit – Bloomberg
Why we’ll have 10% unemployment soon – MarketWatch
Is the Balance Sheet Recession View “Inadeqate”? – PragCap
Gold Is Truth, Unchained CPI Leads To A Dog-Food Diet – Forbes
Global slowdown signs strengthen, debt crisis weighs – Reuters
China Risks Inflation, Property Price Bubble: IMF – IBT
Role reversal: Latin America taunts US on debt woes – Reuters
Dubai house prices keep on falling as market bust deteriorates – al Arabiya
NY Times Piece Echoes Right-Wing Falsehood On Financial Crisis – Media Matters
Zillow shares surge on their opening day – LA Times
Has Housing Bottomed? Here’s How to Tell – Of Two Minds
The central bankers’ worry lists – FT Alphaville
The Fed’s scary doomsday drill – Fortune

MUST READS
France pushes for crisis deal after IMF warning – AP
Merkel to Meet Sarkozy for Debt Crisis Talks – Bloomberg
China urges U.S. to boost confidence in debt, dollar – Reuters
Bipartisan debt plan emerges in Senate, House GOP goes own way – McClatchy
Why a Third-Party Candidate Is on the Way – Kotlikoff, Bloomberg
If US Loses Triple-A Rating, Almost Anything’s Possible – CNBC
5 States Have Credit Ratings Put on Review by Moody’s – Bloomberg
Harrisburg Rejects State Fix, Mayor Must Write Own Proposal – HuffPost
Postmaster says days are numbered for Saturday mail delivery – USA Today
Joke Is on China as U.S.’s AAA Becomes Laughable – Pesek, Bloomberg
‘Two nations’ supermarket figures show – Telegraph

MARKETS/INVESTING
Oil rises above $98 after US crude supply drop – AP
Gold dips on hopes for progress on debt talks – Reuters
Temporary Correction Seen for Gold If U.S. Reaches Debt-Ceiling Deal – Kitco
Precious metals ready for big-time run on global breakdown – Commodity Online
China’s Yuan Advances to 17-Year High on Inflation Concern – Bloomberg
What’s a Financial Advisor or Retiree to Do About Inflation? – Financial Planning
5 buys, 5 sells for 10 long years of no growth – MarketWatch
Gold’s run is almost over – MarketWatch

ECONOMY/WORLD/HOUSING/BANKING
Goldman Sachs Targets 1,000 Layoffs – The Street
Bad economy may be mother of invention – USA Today
The End Game Of Keynesian Economics – Street Talk Live
Striking Greek taxi drivers clash with police – Telegraph
EU May Use Bailout Fund for Emergency Credit – Bloomberg
China’s CNOOC to buy Canadian oil sands developer – ChannelNews Asia
BOE Minutes: Inflation spike looms, but no interest rate rise – Telegraph
Just 11% Expect Their Home’s Value To Go Up Over Next Year – Rasmussen
Equity insurance would re-energize housing market – delawareonline
PIMCO: Housing Market Doomed For Foreseeable Future – Forbes
Fed Bank Directors Express ‘Heightened Caution’ on Economy – Bloomberg
Will the Fed’s last bullet be pointed inward? – MarketWatch
A Dodd-Frank Retreat Deserves a Veto – Geithner, WSJ

MUST READS
Gold cracks $1,600 level – USA Today
AP Exclusive: Mortgage ‘robo-signing’ goes on – AP
China’s Treasury Holdings Make U.S. Woes Its Own – NY Times
Debt-ceiling crisis still eludes compromise – Washington Post
Congress Bickers as Bond Markets Brace for Total Panic – Bloomberg
Stress Tests Do Little to Dispel Fears of Sovereign Default – WSJ
Chancellor Merkel’s Dangerous Lack of Passion For Europe – Spiegel
The charade of EU bank stress tests – Whalen, Reuters
U.S. AAA Credit Rating Downgraded By Egan-Jones – Examiner
The Man Who Wasn’t Elizabeth Warren – HuffPost
Ending the debt ceiling stand-off – EconBrowser
Central Falls Leads the Field – aucontrarian

MARKETS/INVESTING
Oil above $96 as crude supply drop expected – AP
Gold eases from record highs, eyes euro summit – Reuters
Soros’s Quantum Leads Hedge Funds Cutting Risk – Bloomberg
Ask Eric Sprott: Why Won’t He Buy More Silver For PSLV? – Kid Dynamite
Head Of World’s Biggest Hedge Fund Sees “Economic Collapse” – Zero Hedge
US Debt Accord Could Slow Gold Rally, but Not for Long – CNBC
Speculators Take Big Long Positions In Gold – CFTC – Kitco
The perfect hedge for this crisis – MarketWatch
Why are market bears so sleepy? – CNN/Money

ECONOMY/WORLD/HOUSING/BANKING
Borders liquidates: 10,700 jobs lost – CNN/Money
Cisco Cuts 6,500 Workers, Record $1.3B in Costs – Bloomberg
Spain’s borrowing costs increase on debt fears – BBC
Portugal Loses Patience With Europe – Telegraph
Brazil’s boom teeters on personal credit bubble – AP
Italy’s Downward Spiral Accelerates – Spiegel
Home remodeling up to highest level since 2004 – Housing Wire
Study: Tax Credit Had ‘Fleeting’ Effect on Housing Markets – WSJ
Freddie Mac: Housing Market Unlikely To Experience Double Dip – iMarketNews
Geithner: Banks’ Interests ‘Not Aligned’ With U.S. Economy – HuffPost
The Confidence Trick of Fiat Currency – Credit Writedowns

MUST READS
Moody’s suggests U.S. eliminate debt ceiling – Reuters
Obama, Congress, debt: Focus on Capitol Hill – USA Today
Euro leaders in countdown to crucial debt summit – MarketWatch
Gold at record high, markets stressed by eurozone worries – Telegraph
Obama’s Pick for CFPB Has Record of Fighting Banks – Bloomberg
Why Republicans Will Block Richard Cordray for the CFPB – Rortybomb
Paper Bugs at BusinessInsider Defend Bernanke – Implode-O-Meter Blog
Tinkering With The Social Security Inflation Adjustment – The Moderate Voice
Coming Soon: Smaller Raises for Seniors? – SmartMoney
Read Bernanke’s Lips: Gold Is Not Money – Motley Fool
Goldman says recession risk rising – Fortune
Letting Bankers Walk – Krugman, NY Times

MARKETS/INVESTING
Oil below $97 amid debt crisis, US economy jitters – AP
Gold rises above $1,600/oz as debt fears simmer – Reuters
Why I’m lightening up on stocks for good – MarketWatch
Gold charts point to record $1,700-1,750/oz – Reuters
The Debt Crisis: If Treasury Bonds Aren’t Safe, What Is? – WSJ
Comex silver longs bound higher due to short covering – Mineweb
Fast Traders, in Spotlight, Battle Rules – NY Times
Silver is the new gold – Commodity Online
Dabbling with Support – Hussman Funds

ECONOMY/WORLD/HOUSING/BANKING
U.S. Economy: R.I.P. Deflation – EconMatters
Debt ceiling delay: Gun shot to the economy – CNN/Money
The Bursting Consumer Bubble Holds the Economy Back – NY Times
A modest proposal for eurozone break-up – Telegraph
Chinese government intervenes to curb pork price rises – BBC
European Banking Authority was hobbled over stress tests – Telegraph
New Zealand inflation hits 21-year high of 5.3 percent – Washington Post
China’s New-Home Prices Quicken in Shanghai, Beijing – Bloomberg
Post-bubble buyers more likely to overprice home – MarketWatch
Short sale fraud plagues the housing market – CNN/Money
How Bernanke’s Fed Triggered the Great Recession – Forbes
Fed Forecast Buoyed by Dudley Expecting Exports – Bloomberg

MUST READS
S&P warns of US rating downgrade – BBC
Europe’s banks brace for health test failures – Reuters
Stress Tests Compromised by Greek Non-Default – Bloomberg
Return of the Gold Standard as world order unravels – Telegraph
Worried About Debt Limit? The Bond Market Isn’t – Baum, Bloomberg
If U.S. defaults on debt: How to protect your investments – USA Today
Bernanke Damps Bond Buying Prospects Amid Criticism – Bloomberg
Yes, You Really Can Cut Your Way to Prosperity – The American
Minnesota Ends Its Budget Crisis, at Heavy Cost – Time
Getting to Crazy – Krugman, NY Times
Curbing systemic inflation – China Daily

MARKETS/INVESTING
Oil above $95 after Bernanke comments – AP
Gold undermined by Bernanke, firm dollar – Reuters
Central Banks’ First-Half Gold Buying Surpasses 2010 Total – Reuters
Stocks Could Lose 35% if Euro Crisis Worsens: Report – CNBC
The impact of a Chinese hard landing on silver prices – Mineweb
Gold $1,600? There’s a Reason They Call It Gold Fever – MoneyWatch
China bullion investments seen slowing down in 2011 – Commodity Online
Debt struggle creates “bullish cocktail” for gold – Mineweb

ECONOMY/WORLD/HOUSING/BANKING
Gary Shilling’s Seven Faces Of Deflation – Forbes
Rosenberg: Another Recession Is ‘One Small Shock Away’ – CNBC
Layoffs and the Fear Of Deepening Economic Stagnation – HuffPost
Greek 2-Year Yields Hit Record Ahead of Tests – Bloomberg
Italy expected to give final OK to austerity package – AP
Bank Delays May Push 1 Million Foreclosures to 2012 – Bloomberg
California’s housing market picks up in June – LA Times
Dimon: ‘Everybody Is Going to Sue’ over Mortgages – Bloomberg
More Fed Easing? What Could Bernanke Be Thinking? – CNBC
Bernanke Employs a Modified ‘Pump and Dump – Real Clear Markets