Good morning and Happy New Year. A few items to start the day (and year!):

That 1937 feeling (Paul Krugman/NYT)

Will the Fed realize, before it’s too late, that the job of fighting the slump isn’t finished? Will Congress do the same? If they don’t, 2010 will be a year that began in false economic hope and ended in grief.

Krugman, your ideas are dangerous, sir (Daily Telegraph)

By mid to late 2010, we will have lanced the biggest boils of the global system. Only then, amid fear and investor revulsion, will we touch bottom. That will be the buying opportunity of our lives.

Avatar: A revealing cultural mirror (Real Clear Markets)

Economists are notorious cheapskates (Wall Street Journal)

Where the jobs will be in the next decade (NPR)