Links August 1

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United States:

  • Chicago PMI up a touch. PMI
  • Conference Board consumer confidence rises. Reuters
  • Case Shiller rises in May. Calculated Risk
  • More inflation plz. The Economist The problem is that the kind of inflation the Fed can create is wrong: higher costs of living, no impact on wages…
  • Faceberg or is that Faceplant sinks. Zero Hedge 
  • Personal saving rebounds. Zero Hedge

Europe:

  • Europe stuck in no growth trap. BI Ye…eees…
  • Holande and Monti vow to protect Euro. FT
  • And nobody cares because no baking licence for ESM. Zero Hedge

Asia:

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  • Chinese steel profits collapse. FT
  • On the $120 price floor. Alphaville
  • Beijing to move from to coal to gas. FT

Local:

  • GrainCorp condemns Abbott Declaration. SMH
  • Swan to condemn billionaires again. AFR Must be working in the polls
  • Australia lags the field in IR. AFR 12th doesn’t seem so bad. More like room for improvement…
  • But on productivity second last out of 51. The Coalition Pamphlet
  • At least Tony’s Great Gaff finally get’s some coverage. The Chinese are pissed and the FTA is at risk. But apparently Labor is to blame. The Coalition Pamphlet Except it’s now clear it’ll to get worse under some group called the “Liberals”.
  • NSW leads in Chinese investment. AFR Perhaps in spread and not if Tony get’s his hands on it
  • Chris Joye makes his debut at the AFR with the same old song.
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.