Friday Morning Links

MUST READS
China trade, loan surge boosts economy - Reuters
Fiscal policy: How scary is the sequester? - Economist
White House decries Boehner’s sequester demands - The Hill
U.S. Growth to Slow in 2013, Will Pick Up in Later Years - CBO
S&P as Sole U.S. Target Has Wall Street Asking About Moody’s - Bloomberg
Justice Department, states weigh action against Moody’s - Reuters
The Government’s S&P Lawsuit Could Sink McGraw-Hill - Businessweek
Restored Payroll Tax Pinches Those Who Earn the Least - NY Times
U.K. Lesson: Austerity Leads to More Debt - The New Yorker
Lessons From The 1930s Currency Wars - Zero Hedge
Scenes from China’s annual migration - CNN/Money
Bretton Woods III - Project Syndicate

MARKETS/INVESTING
Oil rises after China trade exceeds expectations - AP
Gold steady in league with euro, outlook weak - Reuters
Is this market headed for a correction? - MarketWatch
Short US Government Bonds ‘Right Now’: Jim Rogers - CNBC
This is what a currency war looks like - Washington Post
Yen Jumps Most Since 2011, Aso Says Decline Was Too Fast - Bloomberg
Why is US Oil Consumption Lower? Better Gasoline Mileage? - Our Finite World
Why gasoline prices are headed even higher - MarketWatch
Bulls Get Stellar Report on Gold and Silver - Minyanville
250 tonnes of gold smuggled into India in 2012 - Business Standard

ECONOMY/WORLD/HOUSING/BANKING
Great Recession Leaves Long-Lasting Scars: Poll - Fiscal Times
EU inches toward $1.29-trillion budget deal at tough summit - Globe & Mail
BoE’s Carney Will Preside Over Inflationary Overshoot - WSJ
China, Japan in new invective over disputed isles - Reuters
Has China Quietly Joined the Currency War? - CNBC
Turkey will not halt gold flow to Iran, demand may fall - Reuters
Florida Swamped with Foreclosures – And Deals - Time
Subprime Is Back: Will This End Badly? - CNBC
Wall St. Buys Homes to Rent Back to Their Former Owners - alternet
Fed’s Evans: May need to keep up QE3 for maybe a year -CNBC - Reuters
Fed Governor Raises the Specter of a Bubble in Junk Bonds - NY Times
Central banking: Jeremy Stein leans against the wind - Economist