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Financial Times Tuesday,
Barack Obama chooses his words very carefully. What the US president-elect has not promised is the “creation” of 2.5m new jobs. Nor will millions of jobs be “saved”. So what does 2.5m “more” jobs actually mean?

RIA Novosti Tuesday,
A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts.

Financial Times Tuesday,
The US Disease of Scale and Proportion
Flight attendants hate passengers because they behave like beasts, and the beasts hate the crew because they’ve become wardens rather than waiters. What’s more, the rudest and dumbest are in charge of keeping the skies secure. I dread to think what’s going on in some control towers.

Reuters Tuesday,
Whitehead sees slump worse than Depression
"Before I go to sleep at night, I wonder if tomorrow is the day Moody's and S&P will announce a downgrade of U.S. government bonds."

Tuesday,
'The Worst is Far from Over'
Meredith Whitney of Oppenheimer talks to the Financial Times (video link)

Bloomberg Tuesday,
Fed refuses to identify recipients of $2 trillion in U.S. taxpayer loans
From Bloomberg

The Financial Times Tuesday,
Time to Buy?
DOWN TIME: 1929-32 By John Authers

The Independent Tuesday,
Robert Fisk: Obama has to pay for eight years of Bush's delusions
Indeed, there's a growing concern among America's allies in the Middle East that the US military has to be brought back under control – indeed, that the real reason for General David Petraeus' original appointment in Iraq was less to organise the "surge" than it was to bring discipline back to the 150,000 soldiers and marines whose mission – and morals – had become so warped by Bush's policies.

The Financial Times Tuesday,
What FDR can teach the president-elect about recovery
Then came the National Recovery Administration to oversee a complex web of industrial regulation. This was based on the idea that too much production (not too little demand) was prolonging the slump. (FDR was no Keynesian.) The NRA slowed the recovery. When the Supreme Court shut it down in 1935, growth picked up.

By Clive Crook, The Financial Times Tuesday,
What FDR can teach Obama
Then came the National Recovery Administration to oversee a complex web of industrial regulation. This was based on the idea that too much production (not too little demand) was prolonging the slump. The NRA slowed the recovery. When the Supreme Court shut it down in 1935, growth picked up.