Links: 21st September

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Global Macro:

  • Aircraft carriers are awesome The Diplomat and expensive, and necessary…
  • Commodity boom has peaked as QE3 (and BOJ QE9,10,11…) has faded Bloomberg
  • Robert Shiller (of Irrational Exuberance fame) tears apart the econ convention on telling stories Project Syndicate

North America:

  • Jobless claims, slowing manufacturing points to stagnant economy Reuters Chart from Scotty Barber here
  • Stocks fall on worries that QE3 won’t do anything Bloomberg worry? Its a fact! But perceptions, not facts drive markets
  • Stephen Roach calls it all a charade Credit Writedowns
  • Charts! of QE’s ineffectiveness FT Alphaville
  • More charts! Copper vs US equities correlation Scotty Barber at Reuters
  • Final chart! Where is the US in its “beautiful” deleveraging? Business Insider 
  • Household debt is rising however Reuters – hence unemployment not going up as income from debt offset a slump

Europe:

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Asia:

  • Chinese to strike gold down under WSJ saw this 1st hand in WA
  • The Myth that Japan is “broke” Huff Post well, no country is ever broke, except in Europe…
  • Who’s afraid of the big bad China dragon the most? The Economist no surprises there…
  • Expats are leaving The Middle Kingdom Sober Look

Local:

  • Managing the China downturn down under The Cupboard – yeah like we managed the boom?
  • Garnaut’s report on post China boom is gathering support Dad’s Army
  • And another critical blow – Santos says Japan’s cut of oil link to LNG will hit gas projects here The Cupboard (locked) this is very bad news
  • Whilst the Business Council focuses on public sector job cuts The Cupboard good one fellahs.
  • IMF says our banks are too cosy and still big risk to financial system Fairfax probably still say “stress tests=everything is fine” too?

Other:

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  • Misleading Charts 101 Forbes – certain real estate industry types should read this, but probably won’t.
  • Hedgies want bigger cut of pie down under AFR good luck with that