Thursday Morning Links

The frozen Fed's ‘zone of inaction' – Fortune
Federal Reserve slashes US economic outlook – ChannelNews Asia
Spanish, Portuguese Notes Drop as EU Ministers Mee – Bloomberg
China factory sector close to stalling – Financial Post
Koo and Gross on what Bernanke will do next – FT Alphaville
PIMCO'S Gross says Fed to unveil QE3 at Jackson Hole – Reuters
Congressional Budget Office warns of debt explosion – Washington Post
PAUL: Time to end Federal Reserve secrecy – Washington Times
If the Euro Fails, Germany Will Be Responsible – Spiegel
Post Office Suspends Retirement Contributions – Fiscal Times
Greek savers rush for gold($) – Financial Times
Profiles in Fed Cowardice – Krugman, NY Times

MARKETS/INVESTING
Oil falls below $93 on US economy pessimism – AP
Gold cuts 4-day rally as Fed boosts dollar – Reuters
Economy's Woes Temporary; S&P Set to Hit 1450: Cohen – CNBC
Five hard questions many bears just can't answer – MarketWatch
Five money moves one inflation hawk is making now – MarketWatch
Surge in gold and silver ownership worldwide as doomsday nears -Mineweb
Grain Prices Plunge as Favorable Weather May Revive Crops – Bloomberg
Why 2011 is much worse than 2008 – MarketWatch

ECONOMY/WORLD/HOUSING/BANKING
Sad summer ahead for teen employment – USA Today
U.S. still wasting billions on jobless aid – MarketWatch
Trichet: Risk Signals ‘Red' as Crisis Threatens Banks – Washington Post
Greece Is Europe: The Failure Of The Euro (Part I) – Daily Capitalist
Papandreou Allowed to Continue from Frying Pan to Fire – Spiegel
How Germany Achieved Stable and Affordable Housing – Naked Capitalism
Economists Argue Over Mortgage Interest Deductibility – Mortgage News Daily
Don't Let Falling Foreclosure Numbers Fool You – CNBC
Bernanke: Modify Loans Where Appropriate – WSJ
Bernanke has other ways of acting – FT Alphaville
FOMC Reaction – Fed Watch