Links – Friday 1st June

Here is some stuff Reynard the Fox, and our readers (see comments) found interesting last night.

Global Macro:

• This is your first must read of the day: Why Switzerland is the new China from FT Alphaville. Long, but revealing
• Indian GDP growth at 5.3% lowest since 2003 BeyondBrics  So that’s the B, the I and the C all slowing down – fast. Who has big exposure to BRIC/EM funds? Probably your super fund since they are likely to be following the herd. Actung! Schnell!
• Debunking the gold bugs FT Alphaville 2nd must read and a follow up here

United States:

• 10 year yields – how low can they go? Big Picture has a great historic take
• The Drudge Report indicator Bespoke Investment
• The “annual ritual of erroneous housing bottom calls” Big Picture indeed – again, we are seeing this repeated (add five years to the headlines) here
• US triple dip fear mounting MacroBusiness Houses and Holes gives a great summary of last night’s US data and where its going

Europe:

• Oh to be German and employed! Germany’s unemployment rate improves, again Scott Barber chart Germany is truly the WA of the EU
• But to be French, mon cherie, sucks… French unemployment up Al Jazeera as Delusional Economics keeps saying – anyone see the imbalance yet?
• Let’s cancel Christmas! No, UK gilts from QE say the Bond Vigilantes in this FT Video
• Great chart on European inflation (as measured by CPI) and interest rates Reuters

Local:

• Following The Unconventional Economist’s analysis yesterday, here are some more charts on lending finance from MarktheGraph
• Another interesting post from Billy Mitchell – can the New Economy (i.e not growth dependent like our slavish devotion to GDP) flourish with fiscal austerity?
• The mining wealth belongs to the miners – rack off Julia: The Cupboard (locked) a typical “rules are rules”, “incentives drive success” ideological rant from the IPA. Not everything is black and white – calling “undiscovered” minerals the same as an uninvented iPad is, well, retarded.

Interesting/Other stuff:

• Regular commenter Avid Chartist’s chart of equity performance year to date at his blog here ouch….
• The first fully private (but unmanned) space launch, docking and splashdown is successful: Fairfax huzzah! Great news

More from Clarke and Dawe on the “circus” that is our politics: