Economics and Investing:

Pimco Predicts Greece Will Default. JWR’s Comment: Prepare for a further succession of dominos to topple. Spain and Portugal will probably be next. And I regret to say that the domino at the end of the queue is at: 38°53’23.28″N, 77° 0’31.01″W

Jason Hommel: Silver: From $30/oz to over $500 by 2020 (And from $500 to $5000 by 2030!)

Democrats push for jobs package in debt deal. JWR’s Comment: More “stimulus”? They must be insane. Someday, they’ll finally admit that we are a bankrupt nation living on borrowed time.

The U.S. Postal Service, facing insolvency without approval to delay a $5.5 billion payment for worker health benefits, will suspend contributions to an employee retirement account to save $800 million this year.  

Study: $1,400 Tax Hike Needed to Fund State and Local Pensions

Items from The Economatrix:

If Greece Defaults, What Happens to Portugal, Ireland & Spain?

Changes in Futures Trading Confirms Silver Shortage

Fitch Sees Risk of Greece, US Debt Defaults

29 Reasons to be Angry or Scared

Oil Rises As Fed Acknowledges Economy’s Slow Pace

End of QEII, Impact on Treasury Market