Links 17th August

Global Macro:

  • The economic twilight zone FT Alphaville global growth downgrades continue
  • Metaboring – the way the market should be? Prag Cap

United States:

  • Why Quantitative Easing (QE or milky wilkies or Money for Nothing and chips for free) is not working Prag Cap
  • Housing starts decline in July Calculated Risk
  • Philly Fed activity down Reuters and charts here from Scotty Barber
  • Marc Faber says the S&P500 is in a false rally but may go higher to 1500 before correcting to 1250 – then its QE3 – Prag Cap I think he’s right

Europe:

  • Retail sales boost in the UK – chart from the always good Scotty Barber at Reuters
  • This is sad, sad news in Greece- but don’t call it doomy or gloomy Daily Mail
  • Is it Italy becoming normal? Club Troppo – no just north and south differences
  • Coping with the Irish property bubble BBC Thank Dog its different here
  • Spain wants faster bailout Bloomberg

Asia:

  • Still waiting on an iron ore “price floor” Kate Mackenzie at FT Alphaville rips up that thesis

Local:

  • Era of surpluses is over – prepare for big taxes says Treasury The Age well at least you got the MRRT timing right hey fellahs?
  • Low doc borrowers told by FirstMac to get stuffed The Cupboard been absolute silence from the loan spruikers on this issue, will probably continue “we are different” “we’re not the USA”
  • Rents fall in tough times for retailers AFR there’s the crutch – land prices are too high
  • RBA: AUD is not necessarily overvalued AFR The Prince: I’m not necessarily impressed with that ‘theory’
  • Future Fund profiting from tobacco The Age all this hoopla about plain packaging – where’s the warning labels on financial products?
  • Market expects disappointment ahead AFR

Other:

  • High Frequency Trading doesnt harm investors, and other absurdities Nanex very interesting piece
  • What’s so great about democracy? Students for Liberty In its current phase? Not much
  • VIX declaring a market top? Market Street more on VIX here
  • Smoke em if you got em Daily Mail next, a law to make you read science. Woooo..

 

Comments

    • From the linked article – “The moral of the story is that a house value is nothing more than a number – the money cannot be counted until it is in your hands.”

      But things are different here.

  1. What’s so great about democracy?

    I wondered why the whole “article” (I use the term lightly) was just a straw man argument (“democracy” = mob rule) repeated over and over…

    …Right up until I realised “Students for Liberty” is just another manifestation of the Libertarian cult. Then it became clear.

    Come on, guys, that blog post carried even less insight and credibility than five minutes of Faux News.