Links June 27: The deep breath

Global Macro:

Oil surplus looms. Alphaville

United States:

April US house prices up. Calculated Risk
And the NAR says boom is back. Calculated Risk Are worldwide realty folk descended from one single spruiker ape?
Profits hit all time high, wages all time low. BI
Chemical Index howling triple dip. Zero Hedge

Europe:

Greece is finished. Naked Capitalism
Monti says Eurobonds or I resign. Or does he? Zero Hedge
Bunds are no short. George Magnus
No salvation in summits. MartinWolf
Crisis threatens way of life. Speigel
Van Rompuy winds back integration plan. FT
Norway housing bust. Alphaville

Local:

Carbon tax harmless. Gittins
Rinehart must follow charter. The Australian
We need nuclear energy, says nuclear energy. AFR Nice one, AFR!
Structural adjustment we have to make. Warwick McKibbin

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.