The Nostalgia of the Infinite, Giorgio De Chirico, 1911
China
- China’s crackdown on underground banks uncovers illegal money transfers of more than US$125bn – SCMP…Australian RE agents may be able to help them find some of this….
- Chinese Gov’t ‘Causes an Investment Gap with U.S.’ – Caixin
- Shadow Banking in China: A Morphing Target – Economonitor
- Gov’t Tries to Spur Natural Gas Use by Trimming Price – Caixin
- China Eyes More Muscle for Market Supervision – Caixin
- China Has a $1.2 Trillion Ponzi Finance Problem – Bloomberg
- China Cracks $64 Billion `Underground Bank’ Moving Money Abroad – Bloomberg
- China banks get flexible with how overdue loans are classed – SCMP
- China’s developers take advantage of cheaper offshore debt – SCMP
- Crackdown on Caribbean tax havens a surprise boon for Hong Kong – SCMP
- Truth-Telling on China’s Economy – Bloomberg
- Beijing targets China’s vast web of underground banks in crackdown on corruption – SCMP
- Don’t buy the China doom and gloom stories just yet – Fairfax, Gitto…Gitto does China (from Bondi)…
- Five myths about the Chinese economy – McKinsey
Asia
- October retail inflation matches market expectation, annual pace eases on month – Nikkei Asian Review
- Japan, Counting on Gradual Recovery, Holds Steady on Stimulus – NY Times
- Japan’s investor revolution is delayed, not dead – Reuters
- Is South Korea Turning Japanese? – Project-Syndicate
- All smiles for the Thai economy – CNBC
- China’s pain is India’s pain too, says India’s ‘rockstar’ central bank governor – SCMP
- East Asia showing benefit of regional financial integration – Nikkei Asian Review
- Hong Kong, Singapore unlocking their fintech potential – Nikkei Asian Review
- Don’t believe the headlines about Japan’s economy – Washington Post
Europe
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- Draghi says ECB willing to act fast on rates, QE to boost inflation – Reuters
- Economic Fallout of Paris Attacks Hits Hotels Hard – NY Times
- QE in the Eurozone Has Failed – Economonitor
- Why Are Mecoeconomic Imbalances Important for the European Monetary Union? – Economonitor
- Russia not quite so bad – BNE INtellinews
- Twilight of Ukraine’s oligarchs – BNE INtellinews
- Banks fear another bashing in Central Europe – BNE INtellinews…good read…
- Eurozone reacts to anticipated fed rate hike – SoberLook
- Here’s How the Boring German Housing Market Turned Piping Hot – Bloomberg
- Capital flows, financial cycles, and macro-prudential policy in the euro area – Bruegel
- The IMF’s analysis of the Irish bailout – VoxEU
- It Pays Too Well to Run a Russian State Company – Bloomberg
- Greece Presents 2016 Budget and Revamps Recession Prediction – NY Times
United Kingdom
- NHS on course for worst financial crisis in its history – Telegraph
- UK manufacturers fear bleak outlook as export orders tumble – Guardian
- Gas prices to stay low for the rest of the decade, Government forecasts – Telegraph
- Why I believe there should be no further action over the £20bn collapse of HBOS – Telegraph
- Optimism vanishes as strong pound strangles UK manufacturers – Telegraph
- Britain Calls for Closing of Coal-Fired Power Plants by 2025 – NY Times
- The Savings Fallacy – why it matters in Labour’s opposition to austerity – PrimeEconomics
- This country faces massive strikes by doctors – CNBC
- Autumn Statement 2015: George Osborne dealt a blow by ‘terrible’ borrowing figures – Telegraph
United States
- Wage pressures coming? U.S. companies start to sound the alarm – Reuters
- Mortgage rates level off – Washington Post
- Obama’s in Asia with Pacific trade partners, but the pact depends on his sales job back home – LA Times
- Taxpayers will pay billions more as CalPERS lowers estimate of investment returns – LA Times
- U.S. toughens rules in corporate overseas tax dodges – CBS
- US agriculture secretary ‘100% confident’ US will ratify trade pact – Nikkei Asian Review
- Alaska Would Rather Go Broke Than Pay Taxes – FiveThirtyEight
- US Inflation: Setup to Upset – Financial Sense
- Could the Fed Hike the Discount Rate on Monday? – Marc to Market
- Democratizing the Fed or Politicizing Monetary Policy? – Marc to Market
Americas
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- Brazil’s Inflation Surpasses 10% for First Time in 12 Years – Bloomberg
- Here’s Why Consumption in Latin America’s Biggest Economy Is Taking a Hit – Bloomberg
- Change Coming to Argentina as Populist Policies Run Out of Steam – Bloomberg
- Canada’s economy and fiscal health ‘has deteriorated’ since April, Liberals reveal in first update – Financial Post
- Bank of Canada study seeks ways to address ‘serial disappointment’ in economic growth – Financial Post
Terra Nullus
- Record low wage growth is a blow to the government’s case for tax reform – Guardian, Jericho
- Australia PM seeks standard foreign investment laws as government faces backlash over Chinese deal – SCMP
- 7-Eleven: Two thirds of stores underpaid, inquiry hears – Fairfax
- Facts first to fall at Senate’s corporate tax avoidance inquiry – Fairfax
- FactCheck: are average earners the main beneficiaries of negative gearing? – The Conversation…O’Liar is another Ministerial bullshitter?…..
- Want real health reform? Integrate public and private health into one mandatory insurance system – The Conversation…yep…
- At these prices, BHP’s dividend growth policy will go – Fairfax
- FMG became fighting fit by becoming the biggest loser – Fairfax…corporate panegyric anyone?…
- Australian National Accounts: Victoria on top as fastest-growing eastern state – Fairfax
- Costa Group boss calls for end to knee-jerk reactions to foreign investment in agriculture – ABC
Commodities
- Goldman eyes $20 oil as glut overwhelms storage sites – Telegraph, AEP
- Abandon ship: Baltic Dry index hits record low – Telegraph
- Cocoa, sugar futures surge amid shortage concerns – Nikkei Asian Review
- With ample supplies, China’s copper buyers sit out as prices plunge – Reuters
- Cracks appear in China’s gold leasing trade as jewelers suffer defaults – Reuters
- India, not China, powering growth in fuel demand – Reuters
- The Commodity Roller Coaster – Project-Syndicate, Reinhart
- Baltic Dry Hits New Low; What It Means, and Doesn’t Mean – WSJ
- Could The Tide Be Turning Against North American Natural Gas? – Economonitor
- Oil Crash Means Biggest Boomers Halt Supply Growth in 2016 – Bloomberg
- Big oil writes off $US38 billion in assets in September quarter, Energy Information Administration says – ABC
- INDIAN CONSUMPTION OF DALRYMPLE BAY’S AUSTRALIAN COAL SLUMPS IN OCT – Platts
- Silver losing its shine – Mineweb
- Uranium: the commodity with upside potential – Mineweb
- NORTH SEA TRADERS EYE FLOATING STORAGE OPTIONS – Platts
Capital markets
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- The bright side of ‘dark pool’ liquidity – Nikkei Asian Review
- Global Shares March On as Alarm Bells Ring for Metals – NY Times
- As Investors Shun Debt, Banks Are Left Holding the Bag – NY Times
- The world’s multi-trillion dollar bond market is circling the drain – Telegraph
- ‘Moral Hazard’: the two missing words that rob HBOS report of credibility – Telegraph
- Capital Adequacy for Banks: Why the New Standard Falls Short – Peterson Institute
- Aussie to Real Defy Commodity Rout as Fed Defangs Rate Increase – Bloomberg
- Ripples Felt in Bonds, Currencies as Central Bankers Diverge – WSJ
- Bond ETF Withdrawals Surge as Investors Brace for Higher Rates – Bloomberg
- Investors Are Taking the Air out of Some of the Hottest ‘Yield Plays’ in Markets – Bloomberg
- How the cult of shareholder value is cannibalizing corporate North America – Financial Post
- Something very strange is happening in the world of fixed income – Financial Post
- Speculators test Saudi currency as oil crisis deepens – Telegraph, AEP
- A better way to understand internal rate of return – McKinsey…very good read…
Global Macro
- A December rate rise may be a mistake by the Fed – Guardian
- Higher US interest rates could be dangerous in a ‘wobbly bike’ world economy, says Schroders – SCMP
- China hard landing means world growth would ‘slow sharply’ – Fairfax
- Volkswagen faces pressure in U.S. to buy back older diesel cars – Reuters
- Crashing the SDR – Project-Syndicate
- Don’t Fear a Rising Dollar – Project-Syndicate
- A More Inflexible Fed Would Cause More Crises – Peterson Institute, Posen
- Estimates of Fundamental Equilibrium Exchange Rates, November 2015– Peterson Institute (Pdf)…well worth a look…
- Comparing total real labor compensation growth across economic expansions – Bonddad
- Immense Private Indebtedness is a Made-in-China Story, Not an Emerging Markets Story – Bloomberg
- Reinventing financial regulation: A blueprint for overcoming systemic risk – VoxEU
- Fed Hike: Moving From ‘When’ to ‘How’ – WSJ
- Fed will want more uncertainty on rates after hike: Bullard – Reuters
- The persistence of slow growth – Bruegel
- Could pension fund management be the next big mis-selling scandal? – Telegraph…very good question to pose…
- Bulk carrier rate index hits record low on weak China demand – Nikkei Asian Review
- In 15 years, renewables will be the world’s biggest source of electricity – Quartz
- The Power And The Impotence Of The ECB – Forbes, Steve Keen…good read…
…and furthermore…
- Women start out as ambitious as men but it erodes over time, says researcher – Guardian
- Electing to Ignore the Poorest of the Poor – NY Times
- Northrop won the bomber contract. Now comes the battle to defend it. – Washington Post
- This could be the biggest force driving gentrification – Washington Post
- Crowdfunding or Crowdphishing? – Project-Syndicate, Shiller
- The Decline of the West Revisited – Project-Syndicate, Skidelsky
- How to Pay for a Refugee Crisis – Peterson Institute
- Help! My short position got crushed, and now I owe E-Trade $106,445.56 – Market Watch
- HOME BUYERS’ INCOME: WHEN THE AVERAGE BUYER IS NO LONGER AVERAGE – Pieria
- Distance to frontier, productivity distribution and travelling waves – VoxEU
- Is Hollywood running out of risk? – RWER
- The World Isn’t Ready for Gross National Happiness – Bloomberg
- Al-Qaeda’s Heirs – Bloomberg
- If this woman wants to retire by age 64, she needs to stop trying to pay off her mortgage so quickly – Financial Post
- America is wrong to think reducing kids’ playtime will improve academic performance – Quartz
- Four fundamentals of workplace automation – McKinsey