Thursday Morning Links

Outlook darkens as Europe sinks, China struggles - Reuters
Bernanke Signals More Easing if Job Growth Wanes - Bloomberg
The Fed action: The limits of the unconventional - Economist
The scary take on Ben Bernanke’s remarks - Washington Post
The Fed Does The Absolute Least It Can Do - HuffPost
The Fundamental Flaw In The Fed’s Thinking - Zero Hedge
Spain’s borrowing costs hit fresh highs - BBC
Merkel Ally Rejects Greek Bailout Concessions - Spiegel
Fiscal Cliff Worries Already Hurting the Economy - Fiscal Times
Political Gridlock Will Spur Another Recession - Fiscal Times
What’s So Special About the Euro Currency Area? - Bloomberg
Capital Controls Coming - Dollar Collapse

Oil hovers at 8-month low near $80 in Europe - AP
Gold slips below $1,600 as Fed disappoints - Reuters
A World of Worry for Equity Markets - CNN/Money
Get ready for the last-gasp rally - MSN Money
Energy shortages: Is ‘peak oil’ idea dead? - BBC
Commodities Fall to 2010 Level as Fed Cuts Outlook - Bloomberg
Operation “Twist Again” and other disappointing gold scenarios - Mineweb
SocGen: Gold Could Surge Over 500% - Business Insider
In Gold Market, China Sparkles as India Fades - WSJ
Gold bugs need help from Fed - CNN/Money

Does the Size of the Boom Explain the Size of the Bust? - The Freeman
Public Workers Face New Rash of Layoffs, Hurting Recovery - NY Times
King Defeated in BOE Stimulus Push as QE Momentum Grows - Bloomberg
China manufacturing weakens further: HSBC - MarketWatch
China’s Central Bank Willing To Share $3 Trillion - Forbes
‘The US Is Hypocritical when It Lectures Europe’ - Spiegel
Shadow inventory extends downturn, creates uncertainty - O.C. Housing News
Investors Get Creative with Hot Rental Market - CNBC
Bernanke Paves the Way for QE3 on August 1st - Calculated Risk
Answers to your Bernanke questions - MarketWatch
The roots of shadow banking - voxeu
Where To Next? - Fed Watch