Thursday Morning Links

MUST READS
Draghi: Eurozone set-up ‘unsustainable’ - BBC
Only the ECB can save the euro now - Telegraph
Spain: Too big to save, but too big to fail? - Globe & Mail
Bankia Bailout Cost Too High, Investors Shun Spain Debt - Bloomberg
Europe Fears Bailout of Spain Would Strain Its Resources - NY Times
SEC: Taking on Big Firms is ‘Tempting,’ But We Prefer Whaling on Little Guys - Taibblog
Housing Has Already Reached the Inflection Point: McBride - Yahoo! Finance
Yeah! The Housing Bottom Is Here! (PWBC™) - The Big Picture
New Survey: Taxmageddon Paralyzes Business Plans - Fiscal Times
Goodbye benefits: Employers still cutting back - CNN/Money
Americans’ Confidence Is Down. Why? - Businessweek
Wall Street Food Chain - Gross, Pimco

MARKETS/INVESTING
Oil near $88 amid European financial turmoil - AP
Gold up but set for worst May in 30 years - Reuters
6 buys, 7 sells for the new Age of Austerity - MarketWatch
Kayak Said to Postpone IPO Following Facebook’s Tumble - Bloomberg
What Happened to the Great Bond Sell-Off? - EconomPicData
Markets will rally when Greece leaves euro - MarketWatch
Copper hits 2012 lows as Euro zone debt woes hurt - Mineweb
Gold – a potential waterfall event - Peter Brandt
Gold is just another commodity, until it’s not - Sober Look
Silver to bounce back, rally likely in coming months - Commodity Online

ECONOMY/WORLD/HOUSING/BANKING
Small Businesses Hire Fewer Workers in May - CNBC
Falling Labor Force Participation - Conversable Economist
Economics for 100% of Earth’s inhabitants’ success - Washington’s Blog
India Growth Slows to Nine-Year Low as Rupee Drops to Record - Bloomberg
Crisis draws squatters to Spain’s empty buildings - Reuters
Europe’s debtors must pawn their gold for Eurobond Redemption - Telegraph
Japan industrial output gains slow, stirring recovery doubts - Reuters
Lack of Distressed Supply Continues to Hit Home Sales - CNBC
Case-Shiller Seasonal Factors - Calculated Risk
Importance of Home Prices Goes Beyond Housing - WSJ
Rosengren wants more Fed easing; Dudley, Fisher don’t - Reuters
Color Commentary - aucontrarian