Links 13 May 2013

Global Macro/Markets:

• G7 reaffirms commitment not to devalue currencies for domestic gain – Financial Times
• Nouriel Roubini: Why I like stocks, for now – Fortune
• The Multiplier in Action – Econbrowser
• Bubbles: Stability through instability – The Economist
• Fed Inflating Stock Market Bubble – yardeni.com
• Bernanke, Blower of Bubbles? – New York Times

North America:

• Bernanke Signals Big Banks May Face Higher Capital Requirements – Wall Street Journal
• Fed Maps Exit From Stimulus – Wall Street Journal
• In U.S., Standard of Living Perceptions Hit Five-Year High – gallup.com
• Some 47.6 Million Received Food Stamps in February – Wall Street Journal
• Speech–Bernanke, Monitoring the Financial System – Federal Reserve
• Economists: Fed Will Taper Bond Purchases This Year – Wall Street Journal
• Denver Pays Wall Street $216 Million as Swaps Fail: Muni Credit – Bloomberg
• No Lehman Moments as Biggest Banks Deemed Too Big to Fail – Bloomberg
• Fed advise that Farmland is in a bubble and Student debt is showing signs similar to US pre pop housing bubble – USA Today

Europe:

• Spain is officially insolvent: get your money out while you still can – The Telegraph
• Spain banks’ cleanup to enter new phase as ‘delay and pray’ ends – Reuters
• Foreigners Buying Half of London New Homes Prop Up Building – Bloomberg

Asia:

• The New Prize: Asia’s “Fire Ice” Gas Revolution – The Diplomat
• China’s Next Leap Forward: From Comrades to Consumers – The Diplomat
• China is poised for short-term rebound due to liquidity boost – Forbes
• Japan’s Bold Experiment – The Diplomat
• Chinese Consumers Rapidly Shift From Luxury To Thrift – Zero Hedge

Local:

• Pain on the GC as home prices tank – Property Observer
• Stockland feels GC pain – Courier Mail
• Chodley Wontok pops-up at FIRB Senate Inquiry – APH
• Up to $100 billion of Toxic loans granted around Australia – Today Tonight
• The problem with averages: 50% of Australian tax payers earn less than $45k p.a. – The SMH
• The dangers of investment seminars on property in your SMSF – Smart Investor
• End Budget chaos: business. AFR End vested interests media while you’re at it.

Other:

• What Use Are Economists? by Dani Rodrik – Project Syndicate
• Billions of locusts are making their way across North Africa – what are the implications for the economy? – Washington Post
• Great piece on money – Levy Institute
• NZ inquiry into building costs when land prices are the primary problem, just like in Australia – Bloomberg