Links: Greece Debt, Portugal, Japan, Treasuries, S&P 500, Natural Gas (1/24/2012)

Eurozone finance ministers reject Greek debt offer - (Telegraph)

Euro zone ministers reject private bondholders' Greece offer - (Reuters)

EU Seeks Bondholder Concessions on Greece (Bloomberg)

Timely Greek lessons on the eurozone crisis (by George Provopoulos, Bank of Greece) - (Financial Times)

Fears Mount That Portugal Will Need a Second Bailout - (WSJ)

Bids for Portugal REN with 30-50 pct premiums-sources (Reuters)

Goldman Tells Clients To Short US 10 Year Treasurys (Zero Hedge)

10 Good And Bad Things About The Economy And Rosenberg On Whether This Isn't Still Just A Modern Day Depression (Zero Hedge)

Credit Suisse: 11 Reasons We'll See S&P 1,400 This Year (PragCap)

EU May Be Preparing for Greek Default, Bank of New York Mellon Strategist Simon Derrick Says (Bloomberg Video)

Hussman: Recession risk remains very high (HussmanFunds)

Hard Greek Default Likely This Quarter: Bob Janjuah of Nomura (CNBC Video)

Nomura's Janjuah on U.S. Stocks (S&P 800 prediction), Economy (Bloomberg Video)

Volume Crashes As Stocks End Unchanged (Zero Hedge)

Stock Trading Lowest in U.S. Since 2008 After Fund Withdrawals, Job Cuts (Bloomberg)

Granville Says Dow Industrial May Drop Toward 8,000 in 2012 (BusinessWeek)

Japan Finance Minister Azumi warns of eurozone-type crisis, pledges Japan's fiscal reform (Mainichi Daily News, Japan)

Japan’s Fiscal Pressure Intensifies as Tax-Boost Plan Insufficent: Economy (Bloomberg)

End of Era for Japan's Exports (WSJ)

JGB futures below Ichimoku cloud as euro pessimism ebbs (Reuters)

Chesapeake Energy Pulls Back Drilling Amid Natural-Gas Glut (WSJ)

BofA Targets $3 Billion in Additional Cuts, Moynihan Says (BusinessWeek)

Starbucks to add beer, wine to menu at select coffee shops - (Los Angeles Times)

A Sears Wager Stings at Goldman (WSJ)

Fannie, Freddie writedowns too costly: regulator (would require $100 billion taxpayer funds) (Reuters)

One More: George Soros predicts riots, police state and class war for America (RussiaToday)

EUR/USD is up 0.10% at 1.30096, and the S&P E-Mini March Future is down 0.40% at 1,305.75. The Federal Reserve meets today and tomorrow to decide monetary policy (rates, QE). FOMC members will now provide Fed Funds rate projections. Here is Goldman Sachs' preview of the FOMC meeting via Zero Hedge.