Merkel’s Cabinet Backs ‘Decisive’ Cuts as U.S. Urges Spending

China Lines Up the World’s Largest IPO

Businesses Can Expect to Tell IRS About Suppliers

Talk of Double-Dip Risk Is Getting Louder (Hat Tip: Jean Stoner)

Deficit Reduction Commission Seeks Increase in its Budget (Hat Tip: Jean Stoner)

Obama Admin to Spend $125M to Defend Pro-Abortion Health Care Law (Hat Tip: Jean Stoner)

Euro Zone Faces Zero Growth, US Facing Trouble: Roubini (Hat Tip: Jean Stoner)

Laffer: 2011 ‘Tax’ Collapse Coming

Roubini: US Nears Disaster as Euro Zone Faces Zero Growth

Morning Bell: Why Obama’s Stimulus Failed

Lessons from Canada: Stay Away from Nationalized Medicine

Why BP will be the next bailout (Hat Tip: Jean Stoner)

Crisis not ‘wasted’: Obama to nationalize oil companies? (Hat Tip: Jean Stoner)

Obama’s Oil Crisis Politics: Dems want to change subject from the spill to cap & tax. BP approves (Hat Tip: Jean Stoner)

State Senate Candidate Spotlights Cost of Federal Aid (Hat Tip: Jean Stoner)

Need a job? Look for freelance (Welcome to the gig economy…) (Hat Tip: Jean Stoner)

The One-Hour Meltdown (Hat Tip: Jean Stoner)

Mort Zuckerman: America’s jobless picture is alarmingly bleak (Hat Tip: Jean Stoner)

Goldman reported readying BP for takeover defense (Hat Tip: Jean Stoner)

Investor Fund Flows Have Never Been This Bearish Since Lehman Collapsed (Hat Tip: Jean Stoner)

Bloomberg: US Debt To Overtake GDP In 2012 (Hat Tip: Jean Stoner)

Our Questions For Paul Krugman, Brad DeLong, Niall Ferguson, And The Tea Party (Hat Tip: Jean Stoner)

Friday’s Controlled Descent in Equities: A Perfect Storm Is Brewing (Hat Tip: Jean Stoner)

Germany joins EU austerity drive with €10bn cuts (Hat Tip: Jean Stoner)

Britain To Emulate Canada’s Radical Solution To Tackle Debt [20% Spending Cuts!] (Hat Tip: Jean Stoner)

UK – Coalition government: the Canadian cuts model that the Tories wish to emulate (Hat Tip: Jean Stoner)

Mainstream Media Predicts Euro Death

Rating Cut by Fitch on Wealthiest U.S. State (Hat Tip: Brian B.)

Hungary, Despite Comparisons, Is No Greece (Hat Tip: Jean Stoner)

Obama plans public-relations offensive timed to $250 rebate checks for Medicare… (Hat Tip: Jean Stoner)

Flaherty Blasts Wal-Mart on Fox News Channel (Hat Tip: Jean Stoner)

White House and Allies Set to Build Up Health Law (campaign to “sell” it, using tax exempt org) (Hat Tip: Jean Stoner)

IMF: America to become Greece by 2012

World stocks hit by fears over US jobs, Hungary

Germany to unveil cuts to welfare

UK Cameron warns of painful cuts

Spain strike to vent frustration

AmeriCorps Begins $234M Community Handout

Morgan Stanley to Slash 1,200 Jobs

EU Seeks Accord on Safety Net

SurvivalBlog:

How a Bursting Housing Bubble in China Could Slam the U.S.

China Freaks Out The World By Announcing Restrictions On Export Of Metals Crucial For National Defense

Hungary warning heightens sovereign-debt fear; Default concern rises as new government says predecessor lied about finances

Jim Rogers on Currencies and Inflation

Gold’s Record-Breaking May Madness

The Central Banker’s Dilemma

No. European Nations Preparing to Slaughter the PIIGS

Student Loans: Another Debt Crisis Brewing

Four-Day School Week Due to Budget Cuts Gains Popularity. (Meanwhile we read: Amid budget crunch, Utah considers making 12th grade optional.)

Economy Adds 431K Jobs, But Few in Private Sector (Most of those were temporary census workers!)

Weak Employment Report Drags Oil Down Near $72

1 of 8 Americans on Food Stamps

Europe Launches Credit Rating Offensive

G-20 Finance Officials Begin Global Economy Talks

Gold Sales to Europe Jump on Crisis

China, India Greedy for Gold