Here's what we're following this morning:

(via Boing Boing)

Using the Russian default scenario as a script for Europe's next steps - NJB Deflator | It seems that the next step in the unfolding Eurocrisis is for sovereigns to begin to default on their loan payments.  We already are hearing reports of Greece hoping to delay bond payments.

"So, we know that we're not posting, um, an honest LIBOR."  Here come the arrests. - Reuters via Zero Hedge | With arrests on-deck, the British Bankers Association is doing everything it can to distance itself from what it knows with absolute certainty is about to be a storm of epic proportions.

Europe's banks stage US retreat - Financial Times | Quelle surprise.

Meet the front group leading the fight against taxing the rich - Mother Jones | The NFIB seems to be doing exactly what it was founded to prevent: selling-out small business owners to benefit the rich and powerful.

US taking covert steps to cripple Syria's Assad - Russia Today | Meanwhile, Syria has accused Western and Arab intelligence agencies of plotting to "hijack" its satellite channel frequencies in order to spread misinformation about the rebels, military defections, or the fall of certain cities.  Who knows WHAT to believe, any more.  Maybe that's the point.

How banks cheat - Counterpunch | Reminds me of the joke: "How do you know if a banker is lying?"

What's so bad about deflation?  Nothing, if you own the debt. - Charles Hugh Smith | Deflation makes cash and income streams more valuable as time marches on.  Inflation makes debts easier on the debtor and strips value away from owners of the debt; the opposite is true in deflation.

Why your health care is so darn expensive - Testosterone Pit | For all of our advances in medicine, you'd be surprised about how much longer we're living...especially if you exclude reduced child mortality rates.

Is a Great Gray Exodus from America starting? - Naked Capitalism | They no longer believe in capitalism or democracy, so what else are they supposed to do?

Brandalism: artists take back the street, one billboard at a time - Dangerous Minds | What a welcomed take on the corporate branding that has become such a blight on our landscape.