Economics and Investing:

John R. sent a link to a map that shows the global race to the bottom: The global debt clock

Panel sounds foreclosure warning, industry downplays. (A hat tip to B.B. for the link.)

John R. spotted this post over at Karl Denninger’s site: The EU’s Lies Blow Up In Their Face.

B.B. sent: Poverty in America, The Big Picture

Euro under siege as now Portugal hits panic button

Matthew Lynn asks: Who’s next? First Greece went bust. Now Ireland is on the brink of a bailout from the European Union and the International Monetary Fund.

Items from The Economatrix:

New York State Manufacturing Plunges  

Wal-Mart Investors Set Low Bar in US Stores  

Stocks Sink On Asian Inflation, Euro Debt Fears  

Economy Splits For Wal-Mart, Saks Clienteles  

California Will Default On Debt, Says Chris Whalen