cnbc.com | Stocks accelerated their selloff in the final hour of trading to end near session lows.

Fox News | IRS plans to give $70 million in employee bonuses.

Economic Collapse | Treasuries have fallen to record lows.

Mac Slavo | Though warnings urging depositors to get their money out of banks spread across the world, few have taken them seriously.

Washington Free Beacon | IRS can influence reported gov’t statistics, according to Welch.

Washington Times | President’s trip could cost taxpayers from $60 million to $100 million, yet it is being defended as “great bang for our buck.”

ProPublica.org | Bank of America employees regularly lied to homeowners seeking loan modifications according to sworn statements by former bank employees.

Wall Street Journal | IMF suggests Fed should continue its $85 billion a month bond buying until at least the end of 2013.

Detroit Free Press | “We’re tapped out,” Detroit Emergency Manager Kevyn Orr said.

Gold Core | Steel mentions that it was the jewelery market that drove the gold market in the past and now it is investment demand and demand from China.

reuters.com | Evidence has mounted in recent weeks that China’s economic growth is fast losing momentum.

MarketWatch | S&P cited strength of U.S. economy and dollar’s standing in the world as reasons for raising its credit rating.

CNS News | President Barack Obama says Democrats “don’t want to tax all businesses out of business.”

Bloomberg | Average mortgage rate is at highest level in more than a year.

forbes.com | U.S. economy is moving at a slow pace.

USA Today | Senate failed to pass two bills that would have blocked increases in federal student loan rates.

libertypulse.com | Obama’s proposal further insulates tuition costs from market realities.

wsj.com | The slow death of American manufacturing.

New York Times | IRS spent $4.1 million paying top dollar for luxury suites, some as much as $3,500 a night.

bloomberg.com | Trade deficit now over $40 billion.

Michael Snyder | Obama has been secretly negotiating the most important trade agreement since formation of World Trade Organization.

marketwatch.com | U.S. manufacturing is contracting, says Institute for Supply Management

Zero Hedge | Financial excesses today and inflationary pressures in the future.

telegraph.co.uk | Federal Reserve influencing emerging market currencies.

Associated Press | The game plan is debt.

Economic Collapse | 37 million Americans currently have outstanding student loans, and the delinquency rate on those student loans has now reached a level never seen before.

Zero Hedge | In a month in which deposit flight should have been largely contained, Cyprus banks saw a record outflow of 6.4 billion.

Mike Adams | OMG, the currency was used by criminals? Say it isn’t so!

Economic Collapse | The financial system of the third largest economy on the planet is starting to come apart at the seams, and the ripple effects are going to be felt all over the globe.

The Guardian | Obama officials say that the UK would probably be excluded from a trade agreement worth billions a year if it leaves the EU.

Economic Collapse | If you know someone that actually believes that the U.S. economy is in good shape, just show them the statistics in this article.

My Fox Detroit | Officials say the Detroit Institute of Arts’ collection could be sold to help satisfy creditors.

L.A. Times | Wall Street followed Europe in a broad sell-off following a 7.3% overnight plunge in Japan’s stock market.

Reuters | Millions of Italians cannot afford to heat their homes properly or eat meat as their country is racked by recession and soaring unemployment.

Economic Collapse | The Velocity Of Money Is At A 50 Year Low.

Brandon Smith | The foundation of the Soviet model of trade and investment was centralization under the guise of “universal public ownership”.

Economic Collapse | What is going to happen when the greatest economic bubble in the history of the world pops?

J. D. Heyes | United States is not immune to political and economic events that besiege other nations.

Paul Craig Roberts | You know that gold bear market that the financial press keeps touting? The one George Soros keeps proclaiming? Well, it is not there.

Paul Craig Roberts | There has been a statistically improbable concurrence of events that can only be explained as a conspiracy.

Reuters | Move may prevent firm from facilitating purchase and sale of Bitcoins in U.S. dollars at a time when use of Bitcoin and value has mushroomed.

Economic Collapse | The middle class American worker is in danger of becoming an endangered species.

zerohedge.com | Outspoken truth-sayer discusses the realities of the end of the gold standard.

hosted.ap.org | House bill would cut about $2.5 billion a year.

Yahoo! News | Summer break has started very early for kids in one Michigan school district.

Paul Craig Roberts | There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver.

Economic Collapse | When is the economic collapse going to happen? Just open up your eyes and take a look around the globe.

BBC | No information concerning allegations against him was given.

Detroit News | City’s cash flow running in the red, ability to borrow exhausted.

Michael T. Snyder | Would you take out a loan that has an annual percentage rate of 391 percent?