Economics and Investing:

Laura H. suggested this WND article: Families learning of $163,000 tax ‘bomb’, Economics prof says deficits heading toward ‘banana republic levels’

From reader AC: Social Security Surplus Already Gone

Reader Jon M. flagged this, over at Seeking Alpha: Did the ECB Save COMEX from Gold Default?

Items from The Economatrix:

Congress, Bankers Just Don’t Get It “Changing the way you account for losses on bad assets doesn’t mean the losses have gone away. If anything, the obfuscation of those losses will drive investors away because balance sheets in the financial sector will become more opaque.”

What to Buy Before the Economy Improves

Inside Obama’s Bank CEO Meeting “‘My administration,’ Obama said, ‘is what stands between you and the pitchforks.'”

Unemployment Rise Shows Recession is Far From Over

Gerald Celente: Optimism Opium. Here are a couple of snippets: “Following the Group of 20 summit, Barack Obama, while acknowledging there are no guarantees of success, declared, ‘I have no doubt, though, that the steps that have been taken are critical to preventing us sliding into a depression.'” and, “Given that President Obama cannot provide guarantees, how can he “have no doubt”?”