MUST READS
Iran ‘halts oil exports to six EU states’ – BBC
Payroll Tax Cut Added to Gov’t Credit Card – Fiscal Times
Euro-Area Economy Contracts for the First Time Since 2009 – Bloomberg
Greek conservative takes bailout pledge to the wire – Reuters
Greece Struggles to Win Second Financial Bailout – Bloomberg
Portugal’s Debt Efforts May Be Warning for Greece – NY Times
China Pledges to Invest in Europe Bailout Funds – Businessweek
Xi Jinping’s US Visit: China’s Next Leader Takes Center Stage – Spiegel
Chris Whalen: JPM and the Banks Have the MF Global Money – Jesse’s Cafe
Bullard On Duy On Bullard On Potential Output – Econospeak
Again With Potential Output – Fed Watch
Next Up: Portugal – Dollar Collapse

MARKETS/INVESTING
Rising Iran tensions send oil higher – RTE News
Gold firm, takes cue from euro, eyes Greece – Reuters
Investors: Read a lot, get squat! – A Dash of Insight
No One Is Expecting A Big Trend. That’s Bullish. – Fisher, Forbes
Hedge Funds Switch Positions, Paulson Switches Style – DealBook
Paulson, Vinik, Tudor Sell GLD; Soros Buys – Businessweek
Papering Over The Gold Standard’s Flaws – Capital Spectator
The politics of central bank gold holdings – Mineweb
Vital Signs: Gold Losing Some Luster? – WSJ
A gold puzzle – Economist

ECONOMY/WORLD/HOUSING/BANKING
Is This Recovery? Part I – Daily Capitalist
Maxime Bernier: Give Keynes the boot – Financial Post
Is Bernanke’s shyness holding back the economy? – Fortune
North and south split as euro zone economy shrinks – Reuters
David Rosenberg – “Let’s Get Real – Risks Are Looming Big Time” – Zero Hedge
Misery in Athens: ‘New Poor’ Grows from Greek Middle Class – Spiegel
Is QE working?, asks the Bank of England – FT Alphaville
Housing inventory declines may prove temporary – Housing Wire
Faulty reasoning keeps GSEs out of foreclosure deal – LA Times
Markets Don’t Believe Fed’s 2014 Rate Timetable – WSJ
Grant: Fed Should Heed Lessons of 1920 Recession Response – Bloomberg
Some at Fed eye the gas pedal, others the brake – Reuters

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

MUST READS
Greeks clean up after riots against austerity – AP
Germany’s Carthaginian terms for Greece – Telegraph
Greece Bailout Now Faces European Finance Chiefs – Bloomberg
OECD flags signs of broader upturn in economic outlook – Reuters
Economists Warn of Long-Term Perils in Rescue of Europe’s Banks – NY Times
Foreclosures to Climb Before Bank Deal Helps U.S. Housing Market – Businessweek
Some States Using Mortgage Deal Funds To Close Budget Gaps – HuffPost
Toronto Bubble Risk Topping New York in Condos – Bloomberg
Mortgage problems? Turn your house into a billboard – Reuters
Why not abolish the Fed and return to the gold standard? – EconBrowser
Charting the Federal Reserve’s Assets – 1915 to 2012 – Gresham’s Law
On Meredith Whitney, Munis and Leaks – Bruce Krasting

MARKETS/INVESTING
Oil prices rise after Greek austerity deal – AFP
Gold climbs as Greek austerity deal lifts euro – Reuters
2011 market losers may be 2012 winners – USA Today
Is The New Abnormal On Its Last Legs? – Capital Spectator
Bond Buyers Bet U.S. Debt Yields Stay Low – Bloomberg
U.S. gasoline price rises to $3.51/gallon-survey – Reuters
Conflict between Iran, West could raise gold prices – Commodity Online
Why Warren Buffett still doesn’t like investing in gold – Mineweb
Surging gold loans in India come under scrutiny – Mineweb
Gold breaks on cue — is rebound coming? – MarketWatch

ECONOMY/WORLD/HOUSING/BANKING
Cyclical Changes in Business Conditions – Mises
White House: ‘Not Time for Austerity’ – Reuters
Bernanke’s Labor Pessimism at Odds With U.S. Growth – Bloomberg
The spectre of deflation rises as inflation falls – Telegraph
Japan economy contracts annualized 2.3% in Q4 of 2011 – xinhuanet
Draghi $158B Free Lunch Boosts Bank Profits – Bloomberg
Two-thirds of mortgages in Ireland in negative equity – Independent
Private Homebuilders: Dead Men Walking – CNBC
O.C. home price at 34-month low – O.C. Register
Banks benefit from foreclosure settlement – O.C. Housing News
Should we break up the large banks? – Marginal Revolution
It’s Worse Than You Think – Fed Watch

MUST READS
Debt crisis: live – Telegraph
Germany Says Greece Missing Debt Targets – Bloomberg
Greek uncertainty rises as Europe demands vote – MarketWatch
Greeks strike against austerity before crucial vote – Reuters
Railing against the ‘Fourth Reich’: Anti-German Mood Heats Up in Greece – Spiegel
Greek protesters, police clash as bailout deal in limbo – Globe & Mail

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Campaign 2012: Billionaires to the rescue – CNN/Money
U.S. Postal Service Loses $3.3 Billion – Bloomberg
Iran paying for grain with gold, oil – traders – Reuters
A Very Different Take On The “Iran Barters Gold For Food” Story – Zero Hedge
Andover voters to decide on silver dollars for employee pay – Boston Globe
Bretton Woods: not the gold standard. – Edge of the West

MARKETS/INVESTING
Oil falls to near $99 amid Greek bailout talks – AP
Gold slips as waning optimism over Greece hurts euro – Reuters
Buffett Waxes Poetic on Gold and Other Asset Classes – Kid Dynamite
Special report: The twilight of the Bond King – Reuters
CME cuts gold margin by 12%, silver by 13% – Bullion Street
How high and low could gold, silver go in 2012? – Commodity Online
Chinese rebalancing likely to boost gold demand – Mineweb
Jeremy Grantham’s investing strategies for 2012 – CBS Moneywatch
The Bernanke gold trading strategy – MarketWatch
Stocks versus Gold and Bonds – Aleph Blog

ECONOMY/WORLD/HOUSING/BANKING
Feeling Better About the Economy – NY Times
People Are Not Leaving the Labor Force -NY Times
Elite Media Downplays Austrian Economics by Building Up MMT -Daily Bell
China economy shows strain as policy shift eyed – Reuters
In Europe, Stagnation as a Way of Life – NY Times
Hong Kong Sale Underscores Price Drop Concerns – Bloomberg
Japan’s Azumi Distances Himself From Yen Intervention Remark – Businessweek
Senate bill gives principal write-downs through shared-appreciation plan – Housing Wire
Analyst: Home prices will be last to recover – O.C. Register
Been Down So Long–Has Housing Finally Bottomed? – Capital Spectator
Goldman Sachs Kept Almost All of Mortgage Bonds Bought From Fed – Bloomberg
Fed Plays Wall Street Favorites in Secret Deals – Bloomberg

MUST READS
New doubt over Greek bailout plan – BBC
Greek death spiral accelerates – Telegraph
Greek political leaders agree on bailout reforms – Reuters
States Negotiate $26 Billion Deal for Homeowners – NY Times
Will $26B Foreclosure Deal Help the Housing Market? – ZillowBlog
BOE Adds 50 Billion Pounds to Stimulus on Euro ‘Concerns’ – Bloomberg
China inflation spike pricks policy easing expectations – Reuters
Standard & Poor’s: U.S. Faces Downgrade If No Plan – Bloomberg
Sarkozy Most Unpopular as Election Nears – Bloomberg
Why Wall Street Should Stop Whining – Taibblog
A nation of moochers – Washington Times
No, America isn’t broke – yet – MSN Money

MARKETS/INVESTING
Oil near $99 as investors eye Greece, US demand – AP
Gold holds firm as Greek hopes lift euro – Reuters
The insiders are selling heavily – MarketWatch
Defensive Stocks Lose for First Time Since 1999 – Bloomberg
Wall St. Seeks to Delay CFTC Limits on Speculation – BusinessWeek
Has Order Resumed in the Stock Market? – Political Calculations
Massive rise in China gold imports – policy controlling the price? – Mineweb
Precious metals prices dictated by investment at the margin – Mineweb
Gold too volatile to act as reliable inflation hedge – Reuters
Gold miners need gold above $1,650 to keep nose above water – Mineweb

ECONOMY/WORLD/HOUSING/BANKING
Black Helicopters Hover Over Economic Reality – Bloomberg
Jobless Decline Masks Drop in U.S. Labor Force – Bloomberg
World Food Prices Rose Most in 11 Months on Oilseeds, Grains – Washington Post
ECB leaves benchmark interest rate unchanged at record low 1.0 percent – Washington Post
China’s Unexpected Holiday Inflation Pickup May Limit Easing Room – Bloomberg
The World from Berlin: ‘Could the Germans Survive a Crisis like Greece’s?’ – Spiegel
More QE is barking up the wrong tree – Telegraph
How Big Will the ECB’s Next Liquidity Injection Be? – CNBC
Forecast: Drops in Home Values Less Severe in ‘12 – WSJ
Lenders own $30B in California single-family homes – OC Housing News
The Limits Of Monetary Policy Call For Moral, Sound Money – Forbes
The Fed is NOT a Hedge Fund – BullionVault

MUST READS
Proposed bank settlement dealt a setback – Washington Post
Banks Paying Homeowners to Avoid Foreclosures – Bloomberg
Frustrations soar as Greeks seek elusive bailout deal – Reuters
Eurozone crisis live: Greek bailout talks delayed again – Guardian
Opinion: It’s Time To End the Greek Rescue Farce – Spiegel
Credit-Card Borrowing Surged Over Holiday Period – WSJ
Bernanke-Led Economy Proves Critics Clueless About Fed – BusinessWeek
Why China’s housing market will slow, not collapse – CNN/Money
China releases plan to create 45 million jobs – China Daily
Gold standard believers are anti-government: FBI – Commodity Online
Ron Paul’s Flinty Worldview Was Forged in Early Family Life – NY Times
The Sad Spectacle of Obama’s Super PAC – Robert Reich

MARKETS/INVESTING
Oil rises above $99 after US crude supply drop – AP
Gold on solid ground as Greece lifts euro – Reuters
Bottom to Natural Gas at long last – Peter Brandt
Investing for Inflation (and Deflation) – WSJ
Three Phases of the Rally to Watch Out For – CNBC
Brent-WTI spread wider on Iran fears and US supplies – Sober Look
Hong Kong’s 2011 gold exports to China more than triple – Reuters
Yields trump capital gains – Dividend strategies are working – MarketWatch
India,Iran reach oil payment deal without gold – BullionStreet
Silver: The Bastard – Commodity Online

ECONOMY/WORLD/HOUSING/BANKING
Economic Confidence Climbs for Fifth Straight Month – Gallup
Business cycles, interest rates, and NGDP – The Money Illusion
Chinese Electricity Consumption Fell Massively In January – Business Insider
As Growth Slows, India Awakens to Need for Foreign Investment – NY Times
Merkel Approval Climbs to Highest Level Since 2009 Re-Election – Bloomberg
China to help first-time home buyers – MarketWatch
Mortgage mods in 2011 down 40% from prior year – Housing Wire
Fannie Mae: Outlook for Home Prices Rises Again – WSJ
Fed’s REO-to-Rental Experiment Begins – Housing Finance
Sessions Criticizes Fed’s Lack of Foresight – WSJ
The Fed’s Quasi-Fiscal Policies – Mises
Bernanke’s Anti-Stimulus – Cato