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