Economics and Investing:

Courtesy of reader J.D.D.: Why the U.S. can’t inflate its way out of debt

Some Tough Love from the editors of Der Spiegel: Built on a Lie; The Fundamental Flaw of Europe’s Common Currency

Larry T. suggested this Powerline piece: Buy Gold.

Items from The Economatrix:

Why Italy Faces a Derivatives Time Bomb

Why California is Doomed

Double Dip is Coming in 2011

Welcome to the United States of Iceland

Big Ax Looming at FDNY: More than 1,000 Layoffs, 62 Fire Companies to be Closed

It’s Going to Implode, Buy Physical Gold Now

$2,000/oz. Gold by the End of the Year

States May Hold Onto Tax Refunds for Months

Subprime Lending Crisis: Auto Loans Thrive, Housing Down

Jobs May Rebound in 2010

Mass School Closures in Near Bankrupt Kansas City, Missouri