Monday Morning Links

MUST READS
Mario Draghi Cannot Save the Euro - Bloomberg
German minister warns of euro debate tone - AP
A Dose of Dr. Draghi’s ‘Whatever It Takes’ - WSJ
Euro zone action inches forward in game of chicken - Reuters
Draghi, Merkel Has Trader Raise Bets Against Euro - Bloomberg
Fearing an Impasse in Congress, Industry Cuts Spending - NY Times
U.S. economy actually lost 1.2 million jobs in July - Washington Post
The employment report is weaker than it appears - Sober Look
S&P Downgrade: One Year Later, a Message Unheeded - Fiscal Times
A year later, S&P downgrade of US looks like a dud - AJC
The facts behind government bonds and their investors - voxeu
It’s a Matter of Trust - Part One - The Burning Platform
A 21st Century Peasants’ Revolt? - Washington’s Blog

MARKETS/INVESTING
Oil falls slightly to near $91 in Europe - AP
Gold rises on expectations of more U.S. stimulus - Reuters
Wall Street Eyes Protection Against Euro Exit - Financial Times
Is the Tide Turning for Global Equity Markets? - CNBC
Treasury Bears Submit to Fed as Bond Optimism at High - Bloomberg
Four-year silver probe set to be dropped - Financial Times
Global Gold prices to test $1640 this week? - Commodity Online
India Gold prices: The Catch 22 situation - Commodity Online
Gold fizzles — or gold fixed? - MarketWatch
Erasers - Hussman Funds

ECONOMY/WORLD/HOUSING/BANKING
Is this as good as it gets? - Econbrowser
Update: Recovery Measures - Calculated Risk
July’s 163K new jobs are off the charts - NY Post
Update: Recovery Measures - Calculated Risk
Why Goldman Is Feeling More Optimistic - Business Insider
Italy doesn’t need German cash, Monti tells Germans - Reuters
Venetian cunning of Draghi-Monti may save euro for now - Telegraph
Falling U.K. House Prices Show Consumers Feel the Economic Pain - WSJ
America has 40 million McMansions that no one wants - grist
Housing Boom or Bust in China - S&P Housing Views
Soft-spoken Yellen wields outsize influence as Fed’s No. 2 - Reuters
Fed, ECB Can Promise, But Can’t Deliver - Comstock Funds