Weekend Links March 15-16

ScreenHunter_01 Apr. 02 06.19


Draghi Says ECB Forward Guidance May Help to Curb Euro (Bloomberg)

Why the ECB Should Buy American (Project-Syndicate)

Europe’s Middle-Age Trap (Project-Syndicate)

Paralysed ECB leaves Europe at the mercy of deflation shock from China (Telegraph)

Global house price league table: Spain and France languish (Telegraph)


United Kingdom

London Powers U.K. House-Price Growth to Fastest for 21 Months (Bloomberg)

Osborne Told to Curb U.K. Housing Aid to Prevent Bubble (Bloomberg)

Bank of England Seeks to Expand Clawback Rules (NYT Dealbook)

The Bank of England Debunks the Money Multiplier (Pragmatic Capitalism)…as noted by Rumplestatskin yesterday



Putin Deports Executives for Speeding as Sanctions Loom (Blooomberg)

Merkel warns of ‘catastrophe’ as Russia holds new war games on Ukraine border (SCMP)

Referendum in Crimea brings anxiety to China (SCMP)

Putin’s Imperial Road to Economic Ruin (Project-Syndicate) (One of the very best Russian economic commentators)

Shockwaves felt across CEE as US seeks extradition of Ukraine oligarch Firtash (BNE) (This is the underlying issue in Ukraine – some very ugly oligarchs)



Fresh corporate default tests China’s resolve (FT.com)

China Bond Risk Exceeds Ireland as Defaults Unavoidable (Blooomberg)

China Stimulus Decision Looms as Investment Slows (Blooomberg)

China’s Big Four Banks See $70 Billion Vanish From Stocks (Blooomberg)

China cracks down on mobile phone payments (FT.com)

Data points to broad slowdown in Chinese economy (SCMP)

GDP growth target flexible as jobs take priority, says Premier Li Keqiang (SCMP)

UBS Traders Found to Have Tried Rigging Hong Kong Rate (Bloomberg)

The Chinese government just hit the brakes on finance-minded internet firms and their “virtual credit cards” (Quartz)

UBS Tried to Rig Interest Rate, Hong Kong Regulator Finds (NYT Dealbook)

China Premier Li Chooses ‘Softly, Softly’ Approach to Property Market (WSJ Real Time Economics)



Japan February exports seen accelerating; trade gap to narrow (Reuters)

Inside investment: Turning Japanese? (Euromoney)

India’s wholesale inflation eases to 9-month low, rates seen on hold for now (Reuters)


United States

Inflation Signs Lurk in Broader Labor Data Yellen Seeks at Fed (Bloomberg)

The Fed Absolutely Shouldn’t Give Up on the Long-Term Unemployed (Atlantic)

U.S. retail sales rebound from winter chill, jobless claims fall (Reuters)

The US government is suddenly set to tackle long-term unemployment (Quartz)

U.S. Criticized for Lack of Action on Mortgage Fraud (NYT Dealbook)



Is Canada’s economy paying the price for Mark Carney’s hands-off policy on the loonie? (Financial post) (Dear Glenn, they wouldn’t, would they?)


Macro Global Macro


Coffee Cravers Ignoring Bean-Price Surge for Caffeine Fix (Blooomberg)

Coffee Doubles In One Quarter!!! (The Short Side of Long)

Does Copper’s Slide Signal A New Phase Of Deflation Risk? (The Capital Spectator)



Boom industry with a catch (SCMP)


…the cretinist side of capitalism…

My Life as a Retail Worker: Nasty, Brutish, and Poor (Atlantic)

McDonald’s Workers Are Suing, and the Battle Is Going to Be Fascinating (Slate)

IMF economists offer countries tools to shrink inequality (Reuters)

Time to Adjust Overtime Pay (NYT Economix)



As prices in Rio de Janeiro soar, locals turn to ‘surreal’ currency (LA Times)

Angry Young Men Are Making the World Less Stable (Atlantic)

Pursuit of unconventional monetary policy may be in the market’s hands (SCMP) (another piece related to Rumplestatskins piece yesterday)

Banking Theory Disguised As Monetary Theory? (Seeking Alpha) (and again)


Australia and New Zealand

New Zealand raises interest rates (FT.com)

Lost in the paddock: Australia flying blind on farm ownership (The Conversation) (Chodley would find it easier to buy a few acres than to go urban…)

What is the future for Leighton as Hochtief moves in? (The Conversation) (Dear Wal, come back all is forgiven)

Too many loads on our roads when rail is the answer (The Conversation)

New Zealand dairy Fonterra pleads guilty after 2013 food-safety scare (SCMP)

Aussie Bond Romance Stirs as Westpac Says Buying Surges (Bloomberg)

Australian national accounts – oh, the irony (Bill Mitchell)

New Zealand bumps up interest rates as GDP flourishes (World Finance)

A fresh property spruik about upgraders and Chinese (Sydney Morning Domain)

Wage rise paranoia by bosses (Sydney Morning Domain)

Banks fall in behind Coalition’s financial advice reforms (Sydney Morning Domain)

Qantas jobs on ‘super highway out of the country’(Batmania Brunchtime Domain)



14 Responses to “ “Weekend Links March 15-16”

  1. migtronix says:

    Berlin won the race to become the world’s first city with its own domain name.

    .berlin sweet. Maybe Sydney can get .re


  2. migtronix says:

    The gas line that served the two collapsed buildings was built out of cast iron in 1887. According to a report in Time Magazine, this 127-year-old line was the likely cause of the tragedy.

    Dilapidated and outdated infrastructure is an ever-present reality in this wealthy metropolis. According to the New York Daily News, the March 12 incident is the latest of ten building collapses since 2008 in East Harlem and Harlem.

    Rent seeking works best when you can skimp on maintenance.

    • Schadenfreude says:

      Or redevelopment for that matter when you don’t have to mess around with demolition.

  3. Rod77 says:

    Seems like China is really slowing fast. The yield curve there has been negative for some time. Let’s just hope it’s not a full financial crisis.

    • Schadenfreude says:

      Why not, bring it on I say…….You can’t kill a tumor without a little pain.

      • Rod77 says:

        except Australia is a secondary tumour, the radio therapy the communists are administering will kill us too.
        Unless you are wealthy & liquid, this is going to hurt a great deal for a long time

    • jimbo says:

      Awesome. Thanks.

      Loved the bit from 9 min.

      ‘STEWART: It’s kind of genius. Since 2004, 18 of the 24 states JP Morgan handles have been contracted to pay the bank over $560 million. It’s a brilliant business model. You make a ton of money selling sub-prime mortgages and derivatives. And then when that business crashes the economy and millions of homeowners find themselves under water and foreclosed upon and have to go on food stamps, you get a little taste of that too.’

  4. AB says:

    From “A fresh property spruik about upgraders and Chinese (Sydney Morning Domain)”.

    Success: Olivia Yinzhu and Peter Patonai paid $1.53 million in Abbotsford.

    Just think of how successful they would have been if they’d paid $700,000 over the reserve, not just $350,000.

    • disco stu says:

      Yes, all that extra marginal demand is coming from existing Australians wanting a home, and competing for limited stock in a market that is only interested in building two br units – who ever would have thought.

      It’s all the fault of existing home owners, never mind the additional marginal demand from foreigners, or the population Ponzi, or the negatively geared tax avoider, or the wave of boomer SMSFS geared properties, but most of all it has nothing to so with our town planners and our politicians.