Economics and Investing:

SurvivalBlog’s G.G. flagged this ominous news: U.S. on Pace for $1 Trillion Deficit. [JWR Adds: Beware, the debt service costs will explode, once interest rates rise!]

K.P. suggested this at Zero Hedge: Chris Martenson Interviews Robert Mish: Front-Line Evidence That We are Nowhere Near a Gold Bubble. [JWR Adds: Keep in mind that we are still staring down barrel of a big, albeit brief pullback in the precious metals and equities in next 30 days, as margin calls will likely cascade from CDS derivatives fallout. Buy on the dips!]

Goldman Sachs director quits ‘morally bankrupt’ Wall Street bank. (Thanks to Bob G. for the link.)

Kevin K. spotted this: CME Clearing Europe Vacates Registration as Derivatives Clearing Organization Prior to Greek CDS Payouts

Items from The Economatrix:

ISDA Determines Credit Event Has Occurred

Collapse Coming–Not Recovery

France’s Upcoming Election Means Euro Devaluation — And A Pop In Gold

Economic Consequences Of The High Oil Price