Links 15 November 2012

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Global Macro:

  • ICAP Tumbles Most in Two Years as First-Half Profit Shrinks 26% – Bloomberg
  • Hoenig: A Better Alternative to Basel Capital Rules – The Big Picture

North America:

  • Retail Sales declined 0.3% in October – Calculated Risk
  • Retail Sales in U.S. Decrease for First Time in Four Months – Bloomberg
  • FRB: FOMC Minutes, October 23-24, 2012 – Federal Reserve
  • What, Exactly, Is the Fiscal Cliff, You Ask? – The Big Picture
  • The U.S. Credit Rating Might Get Downgraded Again, But Does Anyone Care? – Daily Beast
  • Why the Fed is having so much trouble explaining what it’s trying to do on unemployment and inflation – Washington Post
  • Report: Housing Inventory declines 17% year-over-year in October – Calculated Risk
  • Housing Busts and Household Mobility: An Update – The Big Picture

Europe:

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  • European workers stage austerity protests – BBC
  • Anti-austerity protests sweep Europe – Financial Times
  • Greek economy shrank by 7.2 pct in Q3, worse than expected – ekathimerini.com
  • Why is the UK recovery weaker than the US? – Financial Times
  • Greece sinks deeper into depression in third quarter – Reuters
  • Eurozone industry output fell more than expected in September to a two-year low – MNI News

Asia:

  • China’s Politburo revealed as mystery Australian journo asks easy questions – abc.net.au
  • China’s new leaders: leak or bluff? | beyondbrics – Financial Times
  • The first big test for China’s new leaders | The A-List – Financial Times
  • China’s New Leaders Face an Economic Turning Point – Bloomberg

Local:

  • Hopes rise for a retail recovery – The Age
  • Vic Government push for surplus based on dodgy accounting – The Age
  • Support for GST review grows – AFR
  • Australia on the same path as Spain: S&P – AFR
  • Building slump claims another victim – AFR
  • Deepening gloom amid China slowdown, productivity dip and red tape – The Australian

Other:

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  • The FT backs down on paywalled blogs – Reuters
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.