Links 8 November 2012

Global Macro:

• This Is the Worst Election for Wall Street in Decades – The Atlantic
• Election gamble backfires for banks, energy firms: Kemp – Reuters
• Best Rally in Decade May Slow as Obama Faces Congress – Bloomberg
• Improved access to private sector credit crucial to restoring global growth – AFR

North America:

• Congratulations, Mr. President. Here’s how to fix the economy. – Fortune
• Worst One Day Reactions to Presidential Elections – Bespoke
• Obama could really help the US economy by pushing for more legal immigration – Quartz
• Fiscal cliff: It’s not a cliff – Slate
• The economy and the election: The macroeconomics mandate – The Economist
• Your money: Dear Mr. President – Do this first for consumers – Reuters
• The Real Real America – New York Times
• Hurricane Sandy: Impact on “Near-Term Economic Activity” – Calculated Risk

Europe:

• Mass resignations hit Bank of Greece – Financial Times
• Draghi’s address at Wirtschaftstag Volksbanken Raffeisenbanken – European Union
• Draghi says ECB plan allows for unlimited bond buys – Reuters
• Germany is making a crucial bet to hang onto its manufacturing prowess – Quartz
• Greeks protest proposed spending cuts, tax increases as parliament votes – CNBC

Asia:

• Chinese banks’ bad loans may triple by year-end – Reuters
• Great NYT map of (reported) protests in China over large scale, polluting industrial projects – New York Times

Local:

• States push for tax revenues from asset sales – AFR
• Liberals set to refer mining tax to new budget office – AFR
• Oakeshott wants Treasury brief on mining tax – SMH
• Treasury defends its role costing Opposition policies – The Age
• CBA warning as profits rise – The Australian

Other:

• A good example of how household formation (underlying demand) only increases during good economic times – Wall Street Journal
• Ask A Banker: What’s The Deal With High Frequency Trading? : Planet Money : NPR – npr.org
• Why RBNZ Governor should impose LVR limits, but isn’t – Interest.co.nz