Economics and Investing:

Several readers sent this piece, highlighted at The Drudge Report: China ratings house says US defaulting: report. “In our opinion, the United States has already been defaulting”.

It is beginning, folks: German Rating Agency Feri Downgrades US Government Bonds: AAA to AA!

George C. suggested this commentary from Doug Casey: Our Economic Future: From Best to Worst Case

Sterling and Euro Fall on Economic Concerns – Gold Rises to Record £950.81 British Pounds an Ounce

B.B. sent this: US Is Nearing Even Worse Financial Crisis: Jim Rogers

Some other recent quotes from Jim Rogers: “Bernanke Is A Disaster” Who Will “Bring QE Back”

Home-Price Drop of 25% Wouldn’t Shock Shiller
. (Thanks to Steven M. for the link.)

Items from The Economatrix:

Rising Food And Oil Prices Are Biggest Threat To Recovery, Says World Bank

Celente: Gold Standard Won’t Save US Economy

Silver Shield: Don’t Hold Your Breath