Friday Morning Links

MUST READS
Greece aid package boosts stock markets – BBC
Greece to default as eurozone agrees on bailout – Telegraph
Obama, Boehner rush to strike deal, Democrats fume – Washington Post
Debt talks — lots of talk, no visible progress, as clock ticks – McClatchy
Debt-Limit Showdown Threatening Retirement Unsettles Seniors – Bloomberg
The Drive to Cut Social Security by the Gang of Six – HuffPost
The Sovereign Debt Crisis and Currency Sovereignty – Credit Writedowns
Alabama county mulls options as bankruptcy looms – Reuters
Goldman Model Planted Seeds of Distress – Bloomberg
Pity the Policymakers – El Erian, Project Syndicate
Debt and Delusion – Shiller, Project Syndicate

MARKETS/INVESTING
Oil heads to $100 on Greece aid deal – AP
Gold firms on worries over debt – Reuters
Oil prices briefly top $100 a barrel – CNN/Money
IEA Gives the Oil Market a Passing Grade – WSJ
Will Sprott's Physical Silver Trust Follow-On Break the Bank? – Jesse's Cafe
John Paulson Capitulates, Lowers Net Exposure From 81% To Below 60% – Zero Hedge
Marc Faber on Gold, Silver, Deflation and the U.S. Economy – Market Oracle
How to Trade Gold After the EU Debt Deal – CNBC
Silver's a worthy gold rival – MarketWatch

ECONOMY/WORLD/HOUSING/BANKING
The Lesser Depression – Krugman, NY Times
Economic stresses shadow back-to-school spending – MarketWatch
Laid Off On Wall Street: Lowest-Paid Workers Losing Jobs – HuffPost
U.S. recovery from crisis far from complete: Bernanke – xinhuanet
Europe's Biggest Banks Face $30B Greek Writedown – Bloomberg
Spanish Banks' Capital Quest Snares Customers – Bloomberg
Just 49% Say Home Is Worth More Than Mortgage – Rasmussen
D.C.'s Housing Market: Exceptional No More? – WSJ
FHFA house prices down 6.3% from one year ago – Housing Wire
Evans urges new Fed action if economy falters – Reuters
Geithner to meet Fed's Bernanke, Dudley on Friday – Reuters
Fractional Reserve is Not the Problem – Daily Capitalist