Links August 27th

Global Macro:

  • Chart: World stock market recovery since 2007/2009 NYT
  • Samsung infringed on Apple patents Reuters, Jury didn’t want Samsung to get off easy Reuters
  • Apple patent victory boosts Microsoft as asian vendors scramble Reuters
  • But, did Samsung win? Gigoam , either way they will appeal BBC

United States:


  • Greece not lost, says Merkel and Hollande  FT
  • But they side step requests plea for breathing space Telegraph
  • Merkel backs Wiedman, warns allies on Greek rhetoric Reuters
  • Merkel urges Greece to stick to commitments to stay in Euro Ekathimerini
  • Germany’s secret ‘Plan B’ on Greece FT Deutschland (via Translate)
  • Merkel pushes new EU treaty Speigel (via Translate)
  • IMF advises UK to delay austerity until growth returns Telegraph . Should I laugh or cry?
  • Portugal’s deficit unreachable without further cuts Economico (via Translate)
  • Cyprus too EurActive
  • From hero to nave. The fall of Norway’s PM The Economist


  • China launches ‘Triangle debt’ probe China Daily
  • Desperate steel traders forge documents for credit in China Want ChinaTimes
  • Japan tough but weary on Sth Korea, China row Asahi Shimbun
  • Korean key credit delinquency index surges 24pct over past year Yonhap News
  • Willing wrinkled workers help defuse pension time bomb in Japan Bloomberg


  • Mining boom alive and well, says Emerson ABC , and Swanny
  • Commodity prices on the way down:BHP BusinessDay
  • It’s Olympian payback time in SA AFR
  • The only way is up for Tax reform Gittins!
  • What next after the boom ends? Peter Martin
  • CLP claims victory in NT abc
  • Upmarket homes face spring sale woes AFR , an example here
  • Mish froths at the mouth on Oz


  • Niel Armstrong dead at 82 Reuters
  • But the guy in the picture with a space suit on probably isn’t him ACES



    • Do I read Gelber corectly?

      Is he arguing a strong AUD will push up Oz res property prices?

      Add logic and reason to the list of stolen items.

      • Patrician

        Foreign Capital coming in buying up mines and industry from any Aus investors tends to end up in the RE market. Australians know nothing else to invest in and that’s how our laws are shaped as is discussed here often enough. So there is just a possibility that that particular take is the correct one.
        It’s been my ‘fear’ of what will stop the appropriate correction in RE.

        Other than that BIS have consistently been a pretty good contra-indicator.

        • Foreign capital inflows push up the AUD

          A causes B

          Foreign capital inflows push up the price of oz res prop

          A causes C

          I doesn’t follow that B causes C

          Corelation is not causation

    • We used to call them BIS Crapnel/Crapall – but yeah, a bit of a contrarian indicator or magazine cover. A worry!!

  1. Mish froths at the mouth on Oz

    sure does. “mining companies going bust in record numbers.” …really.

    give this guy a tablet.

    hyperbowl rules in the bloggosphere.

      • The problem with guys like mish is they are capable of rational analysis — they don’t need the hyperbowl. I know u guys will take offense but you lot don’t need to be adding hyperbowl here either (notwithstanding that you haven’t taken it to ZH levels yet — and unless that is some sort of marketing plan to attracted eyeballs).

    • For the last time, it is hyperbole

      By the way, I am curious as to why MineBots/China boosters make the same spelling mistakes. Can the mods confirm those two are not the same people?

  2. From Twitter

    A significant appointment

    @Jess_Irvine First day as National Economics Editor of News Limited metro dailies!

    • Well I hope she works hard at improving The Courier Mail – its gone from fishwrapping to dead rat wrapping. This weekends economics/finance section was dreadful. I accidentally read it after babysitter left it here….

      • +1 Improvement shouldn’t be too big an ask. At least her spruik radar is switched on. Will be worth watching her progress.

        You might even get some MB analysis run in the CM/Hun/Tele?

        I’d like to see that.

    • Yep, she is The UnAustralian economics editor i.e. for all the Murdoch rags except The Oz.

      Needless to say, that earned her an Instant unfollow from me. You know how much I love Murdoch rags 🙂

      • C’mon Mav – it’s going to be fun watching her get it right now that she has made the right move. Right On!!

        • Right move, career wise. The Dad’s Army brigade that is the business editorial team @ Fairfax seems unwilling to retire even as their baby boomer audience is shrinking.

          • So long as Jess blames Labour for all the economic ills in Australia (for that matter the world) and promote the line that slashing wages is the only path to improved productivity then she’ll fit right in at The Oz. I honestly hope she keeps her style, it’s sorely needed at The Oz.

  3. Vale Mr Armstrong, a class act. Can’t imagine many people in the modern day being so humble.