Economics and Investing:

Fed: Default would be dangerous; Fitch may cut rating. (A hat tip to Sue C. for the link.)

The dreaded “D” word is spoken: China warns U.S. debt-default idea is “playing with fire”

K.A.F. sent this interview of Peter Schiff: Lack of buyers may force Treasury to boost interest rates

Reader J.B.G. spotted this: True Cost of Fannie, Freddie Bailouts: $317 Billion, CBO Says

Reason # 4,386,662 to leave the Mickey Mouse State: California taps highest income taxpayers for more revenue. (A hat tip to Tom B. for the link.)

B.B. spotted this: Federal Reserve Set to Implode Economy.

Also from B.B.: Bottom in the USD – Soros Attempts to Top-Tick Gold

Items from The Economatrix:

Can You Pass The 2011 Silver Quiz?

Comex Physical Silver Drops To Fresh All Time Low Of 28.8 Million Ounces, 3% Drop Overnight, 30% Drop In 6 Weeks

Price of Gold Jumps After “Gold-Friendly Data” Shows US Economy “Can’t Stand On Its Own Feet”

Silver’s Glitter To Last On Gold’s Strength, Tech Support