Pimco Predicts Greece Will Default [1]. 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!) [2]
Democrats push for jobs package in debt deal [3]. 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 [4].
Study: $1,400 Tax Hike Needed to Fund State and Local Pensions [5]
Items from The Economatrix:
If Greece Defaults, What Happens to Portugal, Ireland & Spain? [6]
Changes in Futures Trading Confirms Silver Shortage [7]
Fitch Sees Risk of Greece, US Debt Defaults [8]
29 Reasons to be Angry or Scared [9]