Thursday morning links

TOP STORIES
Murky future for auto rescue amid GOP opposition - AP
Foreclosure Storm Will Hit U.S. in 2009 as Loan Changes Fail - Bloomberg
House Passes Bill to Ease Pension Crunch for Retirees, Companies - Washington Post
Commodity crash tests faith in supercycle - Telegraph
U.K.'s door open, ever so slightly, to the euro - MarketWatch
Goldman Draws Ire for Advising Default Swaps Against New Jersey - Bloomberg
The Credit Rating on a Benevolent Counterfeiters Debt - Infinity A? - Kasriel, SafeHaven

MARKETS/INVESTING
Global oil demand to shrink - report - CNN/Money
OIEA sees oil demand rising in 2009 after weak 2008 - IHT
Gold Rises for 4th Day in London as Weaker Dollar Lifts Demand - Bloomberg
Fear triggers gold shortage, drives US treasury yields below zero - Telegraph
Hedge Funds Shrink by $64 Billion, Eurekahedge Says - Bloomberg
'Manipulation of gold price is conspiracy onslaught' - Commodity Online

ECONOMY
Jobless claims jump to 26-year high - MarketWatch
Trade deficit rises unexpectedly in October - AP
Weak outlook for jobs, GDP in 2009 - CNN/Money
Most Americans favor government intervention in economy - LA Times
Retail sales post big drop in November - Reuters
ORANGE COUNTY TO CUT 210 JOBS - LA Times

INTERNATIONAL
Taiwan’s Central Bank Lowers Rate By Most in 26 Years - Bloomberg
Bank of Korea Cuts Interest Rate to Record Low of 3% - IHT
Swiss Central Bank Cuts Rate to 0.5%, Recession Looms - Bloomberg
German ridicule for UK policies - BBC
China’s Inflation Slows to Weakest Pace in 22 Months - Bloomberg
Global trade is shrinking, fast - Setser, CFR
Asian Automaker Stocks Gain on U.S. Bailout; Steelmakers Fall - Bloomberg

HOUSING
HOUSING MARKET MAY BE AT BOTTOM READY TO TURN - NBC40.net
HOUSING MARKET: LV home sales soar in November - Las Vegas Review Journal
Wells Fargo CEO sees progress in housing market - BusinessWeek
Prediction: Housing market to recover in 2009 - New Mexico Business Weekly
Some L.A. residential developers replacing 'for sale' signs with 'for lease' - LA Times

FED/TREASURY/BANKING
Central Banks Can Do Better Than Just Mopping Up - Bloomberg
Treasurys' rally raises bar on future returns - MarketWatch
Financial groups’ problem assets hit $610bn - Financial Times
Federal deficit on pace to reach record $1T - Breitbart
Muni bond yields soar, signaling buyers' wariness - LA Times

INTERESTING
Where the world dumps its garbage - Forbes
Sarah Palin tops 2008 Google search - Telegraph
What the real crisis is like! - The Fun Stuff