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Economics and Investing:

Rhonda T. suggested a New York Times slideshow on Stockton, California’s bankruptcy [1].

Steven M. sent: Subterranean Swiss Hotel Sells for Shocking Price [2]. “In what may be the deal of the century, a lucky buyer paid just $1,020 at auction for a luxury underground hotel in Switzerland worth an estimated $3.8 million. However, keep in mind, it IS a former artillery bunker.”

G.G. sent this: Regulators close five small banks in Georgia, Florida, Kansas, Illinois for total of 38 US failures in 2012 [3]


Items from The Economatrix:

One-On-One With Craig Roberts #2:  Libor Fraud Now Part Of The System [4]

S&P 500 Nears “Ultimate” Death Cross [5]

US Home Starts Rise to Highest Level Since 2008 [6]

Fed Says Growth Was “Modest To Moderate” In June [7]