Economics and Investing:

Gold Rallying to $1,500 as Soros’s Bubble Inflates. (Thanks to B.B. for the link.)

From The Daily Bell: WSJ Discovers the Austrians & Boettke – but not the Mises Institute

Mort Zuckerman bemoans BHO‘s band of fools: The Most Fiscally Irresponsible Government in U.S. History. (A hat tip to Patrick S. for the link.)

Oregon man pleads bankruptcy fraud, hiding gold. Apparently, he failed Cache Construction 101.

From K.A.F.: Problem bank list climbs to 829

Items from The Economatrix:

Top Economists: The Second Great Depression Has Arrived

Struggling Cities Shut Firehouses in Budget Crises

Mish: 10 Leading Retailers Close Stores; Exodus of Small Retailers Amidst Signs of “Free Rent”

Blockbuster to File for Bankruptcy in September

Bernanke Says Economy Remains Vulnerable

Record 1-in-6 Getting Government Aid

Jobs Data to Show Severity of Economic Malaise. Wells Fargo: ‘Our view is that the recovery is petering out, not sliding into a double dip’

Obama: No Magic Bullet for Struggling Economy

More Million-Dollar Homes Falling to Foreclosure

HUD: No Decision on Reviving Homebuyer Tax Credit