Economics and Investing:

Reader Greg C. sent this: Larry Summers, White House Economic Advisor, cites Google search as progress. Greg’s comment: “If this White House thinks that determining the fitness of the economy is as simple as looking at what people search for on Google, then we are in bigger trouble than we originally thought. I wonder if they are looking at how many people are searching for ‘Economic Meltdown’ or ‘Revolution?'”

Thanks to Mark N. for this: The Next Global Financial Crisis: Public Debt. “The cloud of the global financial meltdown has not even cleared, yet another crisis of massive proportions looms on the horizon: global sovereign (public) debt.”

Frequent content contributor “DD” sent these items:

Is Wal-Mart the new Target?

Desperation Marketing: Christmas in July at K-Mart and Sears

Recession hits Harley-Davidson, Marriott
(Harley’s net income plunges 91%!)

Items from The Economatrix:

The Long-Term Budget Outlook

JPMorgan 2Q Profit Jumps 36%, Topping Forecasts. Cheryl’s comment: “It takes money to make money, so they took our money and made their money.” [Taxpayer money, that is.]

Where’s The Outrage Over AIG’s Latest Bonuses?

CIT Seeks Private Funds to Avoid Collapse

New Jobless Claims Down Sharply Last Week