Links September 14: QEnfinity!

Global Macro:

  • US Embassy in Yemen stormed as protests spread Bloomberg

North America:

  • When the US sneezes, we all catch a cold – Kate Mac at FT Alphaville on stall speeds/Dalio air pockets etc
  • US Corporate profits are slowing fast as disappoint mounts Alphanow
  • Here ’tis: QE3 is a $40 billion per month purchase of MBS….open-ended…. Calculated Risk
  • Gold to the moon… Bloomberg chart here


  • Swiss Central Bank keeps Euro-Franc (EURCHF) floor WSJ
  • Spain says regions will meet deficit targets…right…. Reuters
  • The Dutch vote in centrists The Australian


  • China’s one country/two systems under threat The Diplomat
  • CME Group to launch yuan currency futures soon Reuters this is a big trend…
  • Will the Fed’s endless QE spur the Chinese central bank into action? Reuters
  • Does the world really need China’s rapid growth? FT Alphaville – Zarathrustra has a great piece on this too
  • Vietnam’s economic challenges The Diplomat


  • More adventures in iron ore – FT Alphaville on the Fortescue Fiasco more from AFR
  • RBA whistleblower exec was “forced out” The Age
  • To hedge or not to hedge – The Age
  • Wayne Swan says there’s a new boom in China! Futureboom2! The Cupboard (locked)
  • More pain in retail: Myer chief The Cupboard
  • ASIC: super funds need to disclose performance properly AFR hear hear


  • On Economic Methodology – Naked Capitalism – good interview
  • How many iPhone 5s will sell? Asymco – who gives a flying Blackberry? I still have my original iPhone..



    If this isn’t the evidence of an RBA orchestrated cover-up of the bribery, I don’t know what is:

    The bank’s deputy governor, Ric Battellino, whom Mr Hood personally briefed on the allegedly corrupt agents, allegedly told Mr Hood in 2008 that he should ”never” again discuss the agent issues.

    Among evidence gathered by the federal police are documents in which Mr Hood claims that in 2008 – after raising corruption concerns – he was told by a top bank official, Bob Rankin, that his job ”had become untenable”.

    IMHO, Capt Glenn’s job is the one that has become untenable now.

      • Plead ignorance when 2 of his direct reports and an assistant governor were told about the bribery? Plead ignorance of the fact that instead of approaching the AFP, a private outside legal counsel was hired (no doubt at great expense to the taxpayers) to produce a CYA (*) report? After the AWB scandal, it is another mystery as to how this legal firm found no illegality!

        Either he knew or he had lost control of the organisation he leads and therefore unfit to hold office.

        (*) – Cover Your Ar$e.

  2. How many iPhone 5s will sell? who gives a flying Blackberry? I still have my original iPhone..

    Hey, Asymco/Horace does some excellent work with gadgets generally and Apple numbers specifically… given it’s the biggest damn company in the world and still making stupendous profits, it does swing things a bit. And then there’s this, which might be a bit of a big deal.