Links November 16

Global Macro:

• IDF bombs the crap out of Gaza – oh and uses leaflets too – Business Insider how kind of them
• Deep article here from The Economist on inflation/stagnation/moderation/monetary masturbation

North America:

• Corporate bond bubble inflating in USA Naked Capitalism
• Romney blames his loss to Obama on his “gift giving socialism” NYT kernel of truth in that, but corporate America did the “crony capitalism taking”
• Must read from Barry Ritholz at The Big Picture on “what’s going on” – great dissection on how different people approach market volatility

Europe:

• Retails sales in UK – the lifeblood/cancer of a modern economy – falls 0.8% in October BBC Oh noes
• EZ fell into recession July-September quarter, second double dip since The Great Recession Reuters Alphaville Greatness continues…
• But France and Germany doing just fine…kinda Reuters Stag-deflation or Stag-inflation?
• As the Great Delusion keeps rolling on – “no need to change (debt) principal” says top EU official Ekathimerini h/t Delusional Economics

Asia:

• Who wields the power in China? Great infographic from FT (free) here
• Don’t expect massive change from China’s new leaders Macroscope expect glacial changes
• Jiang and the cronies win. SMH

Local:

• Local advertising continues to shrink in October, down 8% AFR except at MB…
• Bank and mining stocks – i.e most of the index and your super “near full value” AFR duh. Horse, this is bolt, come in bolt..
• Megabank dismisses claims of S&P that they’re anything like Spanish banks AFR yep, except lack of capital, overvalued/concentration mortgage book etc etc
• GST exclusion costs $9 billion. AFR