Here’s a list of things Reynard read overnight.
Global:
- Property investors keen on U.S, Turkey; China stumbles: survey Reuters
- Iron-ore nears 15-month high, tops $150/t on China demand outlook Mining Weekly
- A dire showing from a dismal bunch WSJ
- Household debt to disposable income (1995-2011) Economics in pictures
North America:
- Earning season kicks off tonight!
- Bank of America settles with Fannie Mae BoA
- US joins misguided pursuit of austerity Wolfgang Munchau-FT
- The US adopts Britain’s economic strategy Gavyn Davies
- Small business lending is profitable as long as lenders stay away from the really small businesses SoberLook
Asia:
- China stocks hit bull market bit economists foresee brief recovery BeyondBrics
- China’s party mouthpiece Xinhuanet applies for Shanghai IPO Reuters
- South Korean youth population to be halved by 2060 France24
- Biotech to be pillar industry for China AFR
- Japan PM: Will pursue bold monetary policy, big fiscal spending Reuters
- Japan cars sales jump as industry recovers from tsunami BBC
- Inside the Southern Weekly incident China Media Project
Europe:
- Berlusconi strikes election deal with League, wants to be economy minister Reuters
- He also surges in polls ahead of February election EurActiv
- Euro zone bond clause highlights rich nation default risk Reuters
- Draghi seeks extended calm in 2013 on fading euro economy Bloomberg
- Osborne’s £3.8bn inflation windfall Sunday Times
- Doom scenario far-fetched but euro gloom to deepen Reuters
- France Fin Min Links 3% deficit target to economic performance eFXnews
- French employers say draft labor accord unacceptable Reuters
- UK car sales reach four-year high BBC
- Bundesbank’s Weidmann pushes back against ECB MarketWatch
- The case for bringing back some power from Brussels.. by Nick Clegg Open Europe
Local:
- Whitehaven tanks on news hoax AFP , ASIC investigates AFR
- Geologists dig deeper for jobs as Australia’s mining boom ends Reuters
- Future of Gove smelter up in air TheOz
- Slipper faces charges over expenses AFR
- Vic Health cuts jobs, close beds The Age
- Lynas gives timeline for rare earths sale BusinessDay
- Shoppers fail to deliver a bumper Christmas AFR
- States on track but hit by health spending TheOz
Other:
- Giant squid filmed in Pacific depths: Japan scientists France24
- New Lego robotics kit talks to iphone AP
- Why (some) psychopaths make great CEOs Forbes
- Financial Times shops for China buyer South China Morning Post
US joins misguided pursuit of austerity Wolfgang Munchau-FT
“In southern Europe, austerity has already led to a big increase in poverty and inequality”
No! Actually the previous credit boom which has led to a gross mis-allocation of resources has led to big increases in poverty from previously unsustainable levels.
According to Munchau the solution is more debt forever. Yeah right…hmmmm how did we get here?
http://www.businessspectator.com.au/bs.nsf/Article/RBA-AUD-Aust-dollar-interest-rate-cuts-pd20130108-3QR3U?OpenDocument&src=sph&src=rot
The Kouk reckons AUD 1.25 may be on the cards…..
Interesting article from Henry Thornton based on an Asia Times article: The Rise of China…and the fall of America (and Oz…)
http://www.henrythornton.com/blog.asp?blog_id=2486
http://www.atimes.com/atimes/China/OA08Ad01.html
“Other” category
http://www.smh.com.au/digital-life/digital-life-news/new-gadget-makes-sure-you-never-lose-your-luggage-again-20130108-2cdgc.html
Jose Manuel Barroso declares Euro crisis over…
.
http://www.smh.com.au/business/world-business/euro-crisis-is-over-commission-chief-says-20130108-2cdrw.html
http://www.smh.com.au/it-pro/government-it/councils-job-outsourcing-plans-breach-eba-union-20130107-2ccy0.html
Let’s see how far this goes…
For HnH’s inbox on his return.
Manufacturing decline in the US – all down to China (and other low cost producers) – can’t pin this one on resources (or the currency)
http://blogs.wsj.com/chinarealtime/2013/01/07/remember-that-jobless-recovery-chinas-fault/
Sadly the only recommendation the report authors come up with is more education – seems to be the favourite suggestion from academics…and a furphy.