Links October 22

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Global Macro:

  • How I caused the 1987 crash Bruce Krasting
  • Financial crises: Have we learned nothing ? The Economist
  • Swap rules sends Wall street into clearing limbo Bloomberg
  • Financial ecosystems cab be vulnerable too FT
  • Treasuries now have the worst risk/return profile in decades SoberLook
  • Bubble, Bubble , conceptual trouble Krugman
  • If the market’s disconnect with economic reality is over, watch out below ZH
  • Rich world mega-trend: Older workers are keeping young out of jobs Quartz
  • How finance capital leads to debt servitude. Michael Hudson via Ian Fraser

North America:

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  • Schedule for week ahead Calculated Risk
  • Bank CEOs fear the fiscal cliff they apparently don’t understand NYmag
  • Citigroup’s torch has passed, now find a knife NYT
  • US wealthy advised to sell gains before unfriendly 2013 Bloomberg
  • House flipping makes a comeback WSJ
  • JP Morgan warns expiring tax cuts could hammer 2013 Slate

Europe:

  • Spanish PM Mariano Rajoy faces key vote in Galicia BBC , France24
  • German refusal on bank aid mars European summit NYT
  • ECB’s knot backs German call for EU budget commissioner Reuters
  • Greek society unravels under austerity measures Naked Cap
  • Spain’s main labour unions approve general strike for Nov 14 El Pais
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Asia:

  • China urges restraint as tensions mount between two Koreas Reuters
  • Hong Kong steps in to curb strong currency Bloomberg
  • What is replacing the yen as a “safe-haven” currency ? SoberLook
  • Canton fair foretells grim trade outlook, economic rebalancing Xinhua

Local:

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  • MYEFO today!
  • Swan to cut billions to protect surplus ABC, Locked OZ
  • Labor bets surplus on growth AFR
  • Treasurer told no need for ‘mad rush to surplus’ AFR
  • ALP holds ACT despite swing Locked OZ
  • Victoria gambles on pokies defence AFR

Other/Interesting:

  • Switzerland: a banking paradise lost Al Jazeera
  • Mig-15 for sale, 1 owner needs a little work Taobao
  • Get your doomsday bunker here! Yahoo
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