MUST READS
6 European Nations Get Downgrades – NY Times
Italy, Spain Cut by Moody’s; U.K. Top Rank at Risk – Bloomberg
Moody’s cuts Italy, Spain and Portugal’s credit ratings – BBC
European Doubts Growing over Greece Debt Strategy – Spiegel
Moody’s warns may cut AAA-rating for UK and France – Reuters
Another piece of the LTRO puzzle – FT Alphaville
Mortgage Settlement Saves FHA From Bailout – CNBC
Obama’s budget shows he’s no Keynesian – MarketWatch
Obama budget: Price tag for Wall St. bailout goes up -Washington Post
Greece Will Leave EU… They Should Do It Now. – Mandelman Matters
Money-Printing Has Reached Its Limits – CNBC
The Way Greeks Live Now – NY Times

MARKETS/INVESTING
Oil below $101 ahead of US supply data – AP
Gold regains $1,720/oz as euro recovers – Reuter
Markets shrug off Moody’s downgrades – Globe & Mail
Are Stocks Ready to Give Back Some of 2012’s Gains? – CNBC
Dow Jones Industrials could top 15,000 in two years – Barron’s
Gold: Faster, Higher, Stronger? – Daily Capitalist
Barclays: Gold fundamentals intact, target $1800 – Commodity Online
US gold, silver ore production hits 20 year low in 2011 – BullionStreet
Gold Has Humbled Smart Men Before – WSJ
Gold’s credibility problem – Mineweb

ECONOMY/WORLD/HOUSING/BANKING
Dumping China for American job shops – CNN/Money
I’m not ready to move on – The Money Illusion
Bubbles and Economic Potential – Krugman, NY Times
The debate over Canadian debt data – Globe & Mail
German Investor Confidence at 10-Month High – Bloomberg
BoJ announces US$130b of additional monetary easing – Channel News Asia
Greece faces death by a thousand cuts unless it leaves the euro – Telegraph
Policy Follies: The First-Time Homebuyers Tax Credit – Baker, CEPR
Mortgage deal to provide FHA with $1 billion in cash – Reuters
Fed Scorecard: Five Ways QE2 Worked—And Where It Failed – Net Net
Williams: Fed must keep policy throttle ‘wide open’ – Reuters
Volcker defends namesake rule against banks – CNN/Money