Economics and Investing:

Reader M.T. sent us this link: Gerald Celente: The Crash Is Underway

H.L. sent this: Fears of Global Slowdown Hammer Stock Market

Payback Time – Budget in the Red, Illinois Has Stopped Paying Bills (thanks to B.B. for the link.)

Items from The Economatrix:

Obama Says US Economy “Strengthening” Despite Weak Data

US Auto Sales Seen Slowing with Recovery in Doubt

City Budgets Snuffing 4th of July Fireworks

Joint Chiefs Chair Reiterates Debt Is National Security Threat

BP Shares Soar on Takeover Talks

Greek Austerity Rage Spills Into Athens Streets

One Million Protest Italy Austerity Package

Crackdown! Is the Massive Wave of Strategic Defaults About to Come to a Screeching Halt?

Gold: Don’t Get Out Before the Bankers Get In