Weekend Links May 18-19

Global Macro/Markets:

• Central banks saved the world economy, now beware the fallout: IMF – Reuters
• Mine union threatens to bring South Africa to ‘standstill’ – Reuters
• Gold Bears Revived as Rout Resumes After Coin Rush: Commodities – Bloomberg
• Does sentiment still matter? – Capital Observer

North America:

• Secretary Lew sends debt letter to congress US Treasury
• Wal-Mart Second-Quarter Forecast Trails Estimates – Bloomberg
• Why U.S. Manufacturing Can’t Get Off the Mat – Business Week, Prag Cap
• Philly Fed Manufacturing Survey Shows Contraction in May – Calculated Risk
• Occupy hedge funds: when private investment funds and the public collide – The guardian blogs
• From Brooklyn to California, Housing Bubble Threat Grows – Bloomberg , and checkout the ultra-high end WSJ

Europe:

• Spanish banker goes to prison – NYT
• Spain Posts First Trade Surplus on Record as Cuts Crush Imports – Bloomberg
• François Hollande says eurozone needs its own full-time president – Guardian
• What is the alternative? – The Economist
• EU Bank Stress Tests Delayed to 2014 on Asset-Quality Review – Bloomberg
• Full text: Moody’s upgrades Turkey’s government bond ratings to Baa3, stable outlook – Credit Writedowns
• Fiat Considering U.S. Headquarters Sparks Italy Concerns – Bloomberg
• European car sales end losing streak, respite may be brief – Reuters
• Ireland’s soggy patch – FT video
• The Euro crisis is calming down, sell Euros Moneybeat

Asia:

• Japan and Abenomics, once more with feeling – The Economist
• China Wages Rose Sharply in 2012 – WSJ
• China: What’s going right ? ChinaFile

Local:

• Federal Court rules Vic building code illegal- ABC
• Leighton nightmare continues – AFR
• Shipyard job losses ‘start of a tsunami’ – The OZ
• Liberals’ plan to dismantle carbon laws – The OZ
• Winning design gives Packer tallest inhabitable building – AFR
• Commbank too pricey, says fundie Moore – AFR
• Rise in tourist numbers possible on back of low dollar – AFR
• Bruised dollar takes next hit – Business Day

Other:

• The latest internet craze – Daily Mail UK , I have no comment.
• Drone Pilots expose Politicians lies – FDL
• What We Mean When We Say ‘Race Is a Social Construct’ – The Atlantic
• Russia Raises Stakes in Syria – WSJ
• The tragic beauty of Google+ – Techland
• In pictures: Rare lenticular clouds over West Yorkshire – BBC

and, just for fun, the WTF? story of the day – Justin Beiber, Germany and a monkey