Friday Morning Links

MUST READS

Congress turns to next crisis: Shutdown – Politico

Sequester begins, with no end in sight for cuts – The Hill

Biggest Winners and Losers in the Sequester Stalemate – Fiscal Times

IMF to lower US growth expectations on sequestration – The Hill

Spending cuts: When they’ll really bite – CNN/Money

Student-Loan Delinquencies Among the Young Soar – WSJ

Italian president says forming new government cannot be rushed – Reuters

FHA Hits Brakes on Housing With Budget Cuts – Bloomberg

Credit ratings: The numbers behind the ratings – Economist

Bitcoin virtual currency reaches all-time high price – BBC

Two Dollar Fallacies – Feldstein, Project Syndicate

Ten QE Questions – Roubini, Project Syndicate

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MARKETS/INVESTING

Oil prices drop as US spending cuts kick in – AP

Gold extends fall after run of monthly losses – Reuters

Would new Dow record set a bear market trap? – MarketWatch

Time to call a truce in the currency wars – CNN/Money

U.S. oil is booming, led by Texas and North Dakota – McClatchy

Gold and Silver Bullion Coin Sales Soar In February – Gold & Silver Blog

Arizona Senate advances bill to make gold and silver legal tender – AZ Capital Times

Gold’s price may have changed but the fundamental drivers haven’t – Mineweb

Gold’s bull run not over, it’s just taking a break – MarketWatch

‘The Gold Rush is Over’: Societe Generale – Barron’s



ECONOMY/WORLD/HOUSING/BANKING

Sequestration: How big a drag? – MarketWatch

Consumer Metrics Institute: A Hard Year Ahead – Dollar Collapse

Eurozone unemployment rate hits record high of 11.9 percent – Washington Post

Italy deficit above target, debt hits record high – Reuters

China’s Manufacturing Expands at Below-Forecast Pace – Bloomberg

UK manufacturing unexpectedly shrinks, pound slides – Telegraph

No Honeymoon for Japan’s New Central Banker – Bloomberg

A Phoenix Housing Boom Forms, in Hint of U.S. Recovery – Businessweek

Foreclosure, Short Sales 43% of US Residential Sales in 2012 – S&P

Rising Student-Loan Delinquencies Hurt Young Homebuyers – Bloomberg

‘Pervasive’ Fraud by Our ‘Most Reputable’ Banks – HuffPost

For Fed Presidents, Economics Is Local – NY Times

via Iacono Research http://iaconoresearch.com/2013/03/01/friday-morning-links-122/