Friday Morning Links

MUST READS
IMF to cut global growth forecast - BBC
Monetary policy: Three’s company - Economist
China’s Surprise Rate Cut Signals More Trouble Ahead - CNBC
European banking superpower is no quick fix - Reuters
ECB Interest Rate Cut Inspires Little Hope - Spiegel
Greece admits it’s off track on bail-out terms - Telegraph
Spanish borrowing costs jump despite central bank action - Reuters
Finland could leave eurozone rather than pay other nations’ debts - Telegraph
Countrywide used VIP program to sway Congress - Reuters
Barclays Corrupts Libor and Maybe a Lot More - Bloomberg
Debt buries American dream - Stiglitz, USA Today
How the Rich Got Rich - Time

MARKETS / INVESTING
Oil near $86 after Europe, China rate cuts - AP
Gold falls ahead of U.S. payrolls report - Reuters
How to crack Wall Street’s earnings code - MarketWatch
In Silicon Valley, fast firms and slow regulators - Washington Post
Asian stocks fall despite stimulus moves - Channel News Asia
China on its way to a hard landing - Telegraph
China’s Distorted Financial Markets - BullionVault
India Gold demand declines 29% in 2012 - Commodity Online
SocGen advises holding Gold tight as ECB, China cut rates - BullionStreet
Poor Indian Monsoon triggers scrap Gold sales too - Commodity Online

ECONOMY / WORLD / HOUSING / BANKING
June Jobs Report Could Put the Fed in Play - CNBC
Latest data further muddy economic outlook - Washington Post
Things Will Get Much Worse Before They Get Better - Real Clear Markets
Angela Merkel is wrong, say 172 economists - Telegraph
Merkel Approval Rises to Highest Since 2009 After EU Summit - Bloomberg
Division in Berlin Doubts Over Merkel’s Euro Path Grow at Home - Spiegel
Japan’s government could run out of cash by October - Reuters
Loosening Steps will Follow Interest Rate Cut in China - Caixin
Warming housing market unnerves buyers - China Daily
Real Estate – the Next Five Years, Parts 2 and 3 - Acting Man
Housing markets cooling in Toronto, Vancouver, but prices still high - CTV News
Why Central Bankers May Have ‘Zero Chance’ of Arresting Slowdown - CNBC