Wednesday morning links

TOP STORIES
Dour forecast underpins Obama's budget plan - Washington Post
U.S. headed for another bubble: TARP watchdog - Globe and Mail
Pimco Says California Yields May Revisit 2009 Peak on Deficits - Bloomberg
Lies We Are Told: Interest is Consumption, Saving is “a Negative Act” - Dollar Collapse
Obama’s Pyramid Schemes Would Make Keynes Happy - Baum, Bloomberg
Toyota U.S. sales reel from crisis; GM, Ford surge - Reuters
Dodd Calls Obama Plan Too Grand - NY Times
Senators cool to 'Volcker rule' - CNN/Money

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MARKETS/INVESTING
Oil futures edge lower after ADP data - MarketWatch
Gold prices continue to climb as dollar retreats - Reuters
Main Street investors change their strategies - USA Today
El-Erian Says Retreat in Stocks Will Worsen as Economy Slumps - Bloomberg
Market dive means it's retirement crunchtime for boomers - CSM
Soros warns of gold bubble again - Commodity Online

ECONOMY
U.S. Companies Cut Estimated 22,000 Jobs - Bloomberg
More consumers pay credit card before mortgage: study - Reuters
Planned layoffs rise for first time since July: Challenger Gray - MarketWatch
Nearly 1 in 10 in L.A. County turned to food banks for help in 2009, study finds - LA Times
The Fog of Economic Crisis - Part I: Will the real Real Economy please stand up - iTulip
Pending home sales edge up, vacancies rise - Reuters

INTERNATIONAL
EU Backs Greek Deficit Plan; Papandreou Offers Cuts - Bloomberg
Chinese mortgage rates rise as loan clampdown bites - Reuters
UK services growth slows sharply in January, hit by snow and VAT rise - Telegraph
Australia’s Stevens Waits for World’s Central Banks - Bloomberg
North Korea's economic moves bring new misery - LA Times
NIESR warns on joblessness and falling house prices - Telegraph
E.U. backs Greek budget efforts, vows close monitoring - MarketWatch
BOE Rate Policy May Err Under Conservatives’ Plan, Gieve Says - Bloomberg
Recession sees rise of the £15m chief executive - Guardian

REAL ESTATE
You lost your house - but you still have to pay - CNN/Money
Mortgage demand at six-week highs on refinance wave - Reuters
No Help in Sight, More Homeowners Walk Away - NY Times
Poll: Most Say Worst Over for Housing Market - CBS News

FED/TREASURY/BANKING
Surface geniality belies ‘Volcker rule’ frustration - FT
Memo To Obama: Banks Are Beautiful - Newgeography
Treasury Dealers Say Direct Bids Risk Upending Auction Process - Bloomberg
Struggling banks need government help, trade group says - Washington Post

INTERESTING
A love story turned mystery - LA Times
Doctor casts new light on cat that can predict death - Reuters
Some Primates Share, Others (Hint, Hint) Are Stingy - LiveScience
New Zealand virgin auctions herself for tuition - AP

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