Readings for the Day

From Bloomberg: Japan’s Economy May Shrink 12.1% This Quarter, worst since 1974, Barclays Says
From Bloomberg: Oil Set for Rebound as Record Drop Spurs OPEC Cuts
From Bloomberg: Saks, Macy’s Discounts Spark Vendor Spat After Holiday Slump
From Mish: Krugman Still Wrong after All These Years