Economics and Investing:

John E. flagged this bit of statist arrogance: US Treasury Secretary Tim Geitner – “Taxes on ‘Small Business’ Must Rise So Government Doesn’t Shrink”

John R. kindly sent us a whole raft of economic news items and some excellent commentary:

Derivatives Cloud the Possible Fallout From a Greek Default

Inevitable Catastrophe: The Fruits of Moral Hazard on a Global Scale  (Charles Hugh Smith)

Chance Didn’t Create the Current Economic Crisis (Bob Chapman)

Bernanke Lies Half Life Reduced To Under One Day As Aflac Scrambling To Shore Up Liquidity On European Exposure

Mike Whitney: QE 3? — The Perils of Inflation Targeting

Feigning Cluelessness, Helicopter Ben Fools No One (Rick Ackerman)  

Items from The Economatrix:

Russia, China Sign Deal to Switch to Trade in Rubles, Yuan

Peter Schiff:  US Set to Default; Silver Headed to $200

Fed Admits US Economy Struggling

Nevermind Greece, Look at Britain’s Deficit

The Latest FDIC Failed Bank List

US Budget Office Warns on Debt Explosion