Economics and Investing:

Deleveraging from one bubble to another – Since the peak in 2008 $1.3 trillion in US household debt is gone but another bubble is brewing hidden under the rubble of the busted housing market.

Precious metals market analyst Ted Butler: Transparency

Impending Catastrophe: Spain Has Entered A Full-Scale Collapse And Created A Tremendous Amount of Instability Which Could Trigger An Imminent Lehman-Like Event And A Rerun of The Great Panic of 2008

B.B. sent this: Estimate of California’s real debt upped from $28 billion to… $335 billion

In Forbes: Run On The Banks Would Make Fiscal Cliff Look Like A Speed Bump

Items from The Economatrix:

US Bank Run Imminent As FDIC Expanded Deposit Insurance Ends December 31st

Spain Recoils As Its Hungry Forage Trash Bins For Food

Fed Virtually Funding The Entire US Deficit

Greece Is About To Default Again