MUST READS
In the Gulf: Lives forever in recovery – USA Today
No Clear Path Forward After Jobs Bill Fails Again In Senate – HuffPost
Lawmakers Expand Fed Disclosure, Drop New York Fed Chief Plan – Bloomberg
ECB must buy ‘hundred of billions’ of bonds to tame Europe’s debt crisis – Telegraph
When states don’t pay their debts – Salmon, Reuters
House-Senate Panel Broadens Audits of Fed – DealBook
Muni Defaults: A Case of Chicken Little? – WSJ
That ’30s Feeling – Krugman, NY Times

MARKETS/INVESTING
Crude Oil Falls Below $76, Rebound Next Week – BusinessWeek
Gold holds near record as haven buying supports – Reuters
Mixed-up markets: Gold hits record while euro and stocks also gain – LA Times
Risk on, as investors dive back into emerging markets – Reuters
Jim Chanos Shorts Oil Majors, Ford Shares, Hasn’t ‘Played’ BP – Bloomberg
Why it’s still a secular bear market – PragCap

MISCELLANY
2010 Recovery Could Be a Mirage – HuffPost
U.S. Debt and the Greece Analogy – Greenspan, WSJ ($)
Austerity is stupid, stimulus is dangerous – interfluidity
Medvedev: Russia to Help Found ‘New World Economic Order’ – Bloomberg
China: where’s the inflation? – China Financial Markets
Analysts believe loan mod redefaults could hit 70% – SNL
Home Price Declines May Land in Cities That Largely Avoided Them – WSJ
Fed’s Kohn sees Europe risk, but to pull through – Reuters
Bank reform loopholes are roadmap to trouble – MarketWatch