Links 3rd September

Global Macro:

• Prices of essentials up 10% The Independent
• Return to the gold standard EconoBrowser, Bill Mitchell , Bloomberg TV

United States:

• Fed official says more stimulus a ‘Close Call’ WSJ
• Fed’s Williams backs open ended QE3, eyes $600 billion Reuters
• Feds’ Bullard: Negative rates are a stimulus option WSJ
• Why berate bernanke? Economists view
• US monetary policy at an important turning point Gavyn Davies
• Schedule for the week ahead CalculatedRisk

Europe:

• Eurozone banking union closer FT video
• ECB must do more for euro: OECD’s Gurria Reuters
• ECB split on response The Independent
• Europe’s scariest chart , got scarier ZH , and next comes this
• France agrees rescue for mortgage lender FT
• Spain’s Rajoy says Eurozone yields not sustainable Reuters
• Spaniards unhappy about rise in sales tax Al Jazeera
• Spain loses bank support Reuters
• Cut tax and spend less, Tory right tells George Osborne Telegraph UK
• Euro leaders must act, warn reluctant EFSF investors Reuters

Asia:

• China’s August official factory PMI falls to 49.2 Reuters, FT
• Chinese companies struggle as they wait to get paid Want China Times
• How bad is China’s cash crunch FT
• Sharp decline in profits of Chinese automakers Want ChinaTimes
• China Exclusive: Bad loan risk looms over banking sector Xinhaunet
• North Korea and Iran sign tech agreement Al Jazeera
• Asian giants seek better ties Reuters
• In Vietnam, message of inequality is challenged by widening wealth gap NYT

Local:

• Commodity prices, falling $A hit resource states AFR
• APRA to fight call for NAB records BusinessDay
• Ian Verrender’s on reporting the “complex” , his last piece for Fairfax BusinessDay
• Chinese take control of Cubbie AFR
• Rights are knocked off front page TheAge
• Real estate begins to bloom AFR
• We’re buying again, but with a frown BusinessDay
• Impatient miners hijacking economy Gittins!
• PM orders razor gang to keep slicing The OZ Locked

Other:

• Blade runner sets new 200m record Huffington Post
• Crunching the numbers on Father’s day News