Economics and Investing:

Peter Schiff’s Latest Advice to Investors

Reader Tom K. sent this:

Stockton [California] set to become the largest US city to declare bankruptcy

Discount Distortion: How Dollar Stores Actually Charge You More

Allan C. sent: Is this 1931 all over again? Paul Krugman, Nouriel Roubini, Niall Ferguson and more think so

Forty Million Houses in the US That No One Needs?

The burden of unsupportable debt. US debt-to-GDP growing at a pace rivaling certain European nations – The dramatic problems of peak debt in 2012.

From Sue C.: Euro zone Big Four confer after fifth state seeks aid

Items from The Economatrix:

Princeton’s Blinder Says Fed Has Weak Weapons for Growth

Moody’s Cuts Spanish Banks Over Sovereign Downgrade

US Homes Sales Slipped 1.5% in May

The Disastrous Consequences of a Euro Crash