Monday morning links

TOP STORIES
Detroit automakers await deal on auto loans - Associated Press
Japan’s Tankan Confidence Plunges Most in 34 Years - Bloomberg
IMF sees Chinese growth halved as downturn spreads - Reuters
Third of Hedge Funds Face ‘Wipe Out’ After Slump, Godden Says - Bloomberg
Dollar's decline to drive gold? - MarketWatch
Asia's consumers snap their wallets shut - Globe & Mail
Home values seen losing over $2 trillion during 2008 - Reuters
Alternative Currencies Grow in Popularity - Time

MARKETS/INVESTING
Oil Rises to $50 as OPEC’s El-Badri Says Sizable Cut Is Needed - Bloomberg
Gold rises on weaker dollar, equity rally - Reuters
A Ship-Shape Retirement - Barron's
Recognition, Fear and Revulsion - Hussman Funds
Uh-oh: Gas prices on the rise - CNN/Money
The Problem with GLD and SLV ETFs - Seeking Alpha
The market's misplaced optimism - MSN Money

ECONOMY
New York Manufacturing Index Falls to Minus 25.8 in December - Bloomberg
Overtime pay, rest breaks become bargaining chips in state budget crisis - LA Times
The US economy glides like a box of rocks - iTulip
This is what a really bad recession looks like - MarketWatch

INTERNATIONAL
Pound hits new low against euro - Guardian
Russia Devalues 2nd Time in Week, Lets Ruble Fall Total 8.7% - Bloomberg
As economic crisis hits, Israel moves to shore up pension funds - LA Times
House prices to crash 30 per cent, Barclays’ Varley warns - FT Alpahville
Why Steinbrueck is bashing the British - MarketWatch
Bullying Germany gets a free ride with its beggar-thy-neighbour policy - Telegraph
Ireland to inject up to $13.5 billion in banks - MarketWatch
Spending power down in 70 per cent of UK households - FT Alphaville

HOUSING
The end of the 0% down payment - MSN Money
Dreams dry up for homeowners in Lancaster's Westview Estates - LA Times
Job cuts adding to growing number of housing defaults - USA Today
Policymakers to prop up US housing market - FT Alphaville
Fannie Mae Renters to Stay Despite Foreclosures - NY Times

FED/TREASURY/BANKING
With rates falling, Fed seeks new tools to fight recession - IHT
Next move in Fed's most activist year - Christian Science Monitor
The Fed Still Has Plenty of Ammunition - Wall Street Journal
Top economists talk unconventional Fed policy - Reuters

INTERESTING
Big Three, Meet the "Little Eight" - Slate
Why Climbers Die On Mount Everest - Science Daily