Links August 21

Global Macro:

  • Special report on Norway’s evolving national nest-egg. Financial Times
  • The return of Dr Strangelove. Could austerity drive America towards ‘cheaper’ nuclear and cyber-based defence capabilities? The Diplomat. Interesting implications for geopolitics.


United States:

  • Romney or Obama, government won’t, can’t shrink. Larry Summers
  • Potato lunchbox war proves just how ridiculous (and interest-dominated) Congress has become. Der Spiegel. Thank God Australia’s politicians operate at a higher level…
  • It’s official: America’s wealthy are a bunch of misers and WASP-ish New England is the worst. NPR
  • The exception though are Mormons, and in Romney’s Massachusettes LDS church he shared that generosity. Washington Post
  • The Catholics are also generous, but the Church itself is having a financial crisis. The Economist


  • How France is killing French industry. Der Spiegel. Viva la protectionisme.
  • The origins of specie: what Cartalist theories say about the future of the Euro. The Economist


  • Economists weigh a Chinese hard landing. Financial Times. Echoes of what we have been writing in MacroInvestor.
  • Bo Xilai’s wife given suspended death sentence. The Guardian
  • But conveniently China is distracted by Diaoyu/Senkaku Islands. South China Morning Post
  • And right-wing idiots in Japan are also using this as their cause celebre. Japan Times
  • But at least the Spratleys won’t be China’s “Sudetenland.” The Diplomat
  • More China links in the daily post from Sinocism


  • Yancoal halts expansion. Business Day. The beginning of the end for Australia’s fixed-capital investment boom?
  • Pension fund consortium won’t match Hastings offer. The Australian. Suddenly infrastructure investment in Australia isn’t so sexy.
  • Don’t tell Santos, who sees Australia as a shale gas hub. Wall Street Journal
  • Bluescope hammered by construction costs. Financial Review. Lower demand for steel will hammer it as well.
  • Brokers E.L. & C. Baillieu and F.W. Holst merge. Business Day
  • Labor MP calls for misleading reporters to be fined or banned. The Australian. How on earth do you police this?
  • Former Securency CFO enters plea bargain. Financial Review


  • The human body is the product of 23,000 genes, yet it hosts a further 3m through microbes. The Economist. Through understanding this, the potential for medicine is extraordinary.
  • In Pakistan, 11-year-old girl with Down’s syndrome accused of blasphemy. BBC. Is Pakistan the epitome of a broken society?
  • Engineer, 63, hailed as ‘last ninja’. Japan Times


    • I’m sure if you were reading relevant industry news you would have heard of it – he’s “the Gold Award from the Society of Automotive Engineers Australasia.”, but with the system 3-to-5 years from production it’s not exactly something to get excited about yet.

      • who reads industry news Karen? Joe public; not likely.

        3 to 5 years is not bad considering the amount of fuel it will save.

  1. Labor MP calls for misleading reporters to be fined or banned. The Australian. How on earth do you police this?

    Easy! Gibbons will tell you what’s right and wrong…then we can just lock the offending b…..d up!

    • Labor MP calls for misleading reporters to be fined or banned. The Australian. How on earth do you police this?

      The same way you police negligence and fraud in other professions ?

  2. Emma A and Malcom T on the NBN, Lateline 10.30 tonite.

    Could be good. I think she’s done some prep.