Economics and Investing:

Greece Credit-Default Swaps Surge to Record 2,189 Basis Points, CMA Says. Oh those derivatives, again.

P.R.D. suggested this: Is the Fed Insolvent?

Scott M. found a facebook page devoted to the logic of saving nickels: Stacking Nickels.

IMF Cuts U.S. Growth Forecast to 2.5%. (Thanks to Steven M. for the link.)

Adam B. sent this: Greek Bailout Leaves the French Unruffled While German Politicians Seethe

Items from The Economatrix:

Inflation Slows In May as Gas Prices Fall

Eric Sprott:  We’re Headed Over a Cliff, Be Wary of Paper Assets

Failure To Raise Debt Ceiling Could Result in Severe Market Disruption. But of course raising the debt limit repeatedly will inevitably destroy the Dollar.

Economy Gets Lift:  Layoffs Ease, Homebuilding Up

Home Building, Jobs Report Push Dow Higher