Thursday morning links

TOP STORIES
Foreclosures up 25 percent: RealtyTrac - Reuters
Abandon all hope once you enter deflation - Telegraph
The deflation-inflation two-step: Too complex for deflationsts to grasp? - iTulip
IEA lowers oil demand forecast for '09 - CNN/Money
GM Unit Sales Said to Be Hampered on Survival Concern - Bloomberg
Paulson's toxic-loan plan never got started - LA Times
Bush Warns Against Dismantling Free Market System - Bloomberg

MARKETS/INVESTING
The Golden Years, Tarnished - NY Times
Oil falls to $55 on grim economic outlook - CNN/Money
Hedge funds lose $100 billion in assets - CNN/Money
Gold May Top $1,000 in 3 Years, Morgan Stanley Says - Bloomberg
A week of historic desperation on Wall Street - MarketWatch
401[k]s: Employer Contributions Get the Ax - AP

ECONOMY
Jobless claims jump unexpectedly to 7-year high - AP
US trade gap narrows as imports, exports shrink - Reuters
Economic War Calls for Full Plan of Battle: Laurence Kotlikoff - Bloomberg
Whitehead sees slump worse than Depression - Reuters

HOUSING
85,000 homes lost to foreclosure in October - CNN/Money
New bailout focus: how to fight foreclosures - CSM
CalPERS' housing portfolio loses 35% in a year - LA Times
HomesForSale.net Enters the Online Real Estate Market - MarketWatch
Bay Area homeowners owe more than home's worth - SF Gate

FED/TREASURY/BANKING
Lawmakers, Investors Ask Fed for Lending Disclosure - Bloomberg
Treasury Redefines Its Rescue Program - Washington Post
Top hedge fund managers face lawmakers - Reuters
Paulson Credibility Takes Hit With Rescue-Plan Shift - Bloomberg

INTERNATIONAL
China Industrial-Output Growth Is Slowest in 7 Years - Bloomberg
Germany slides into recession - Times Online
Russian trading halted after 12% drop - Financial Times
Heady Days Gone, City of London Struggles - NY Times
OECD: Developed world in recession, to contract by 0.3 percent - Chicago Tribune
Economy faces sharpest downturn for 30 years - Times Online
Unadulterated version of China’s growth - Financial Times

INTERESTING
Old threads: Wis. man creates mammoth twine ball - AP
Don't Freak Out: Paranoia Quite Common - LiveScience