Links 4 March 2013

Global Macro/Markets:

North America:

Europe:

  • Greece reclassified to ’emerging market’ from developed – The Telegraph
  • Beppe Grillo suggests Italy might leave the Euro – The Independent
  • Greece faces bailout review, plays down public sector job losses – Reuters
  • Italy’s Grillo lists conditions for backing a government – Reuters

Asia:

  • “China is fully prepared” for currency war as Japan moves to devalue – Want China Times
  • Chinese regulator will push investment of public funds in stock market – Want China Times. Shades of early-1990s Japan.
  • Chinese credit rating firm Dagong warns insurers of rising credit risks – Want China Times. Then it must be bad.
  • China’s Cosco on Verge of Delisting – Caixin Online

Local:

  • Business on hold for election. AFR
  • Swanny lovin’ the economy. AAP
  • So long as commodity prices stay high. The Australian
  • Smith stirs up merger debate. The Australian
  • “Customers fall behind in big bank priorities: former RBA boss” – The Age
  • Deficits put focus on cuts – The Australian
  • Coalition targets building unions – The Australian
  • Australia’s population growing too fast – The Australian
  • Exposing the big banks’ big lies – The Age
  • Forecasts on rates all over the shop – The AFR
  • Signs point to rates remaining on hold – The AFR

Other:

Comments

  1. hubris_and_hyperbole

    Is this the worst Australian team ever?

    This summer we’ve seen the worst selecting ever. And everything we are seeing now, and will see in england, has been thoroughly predictable — including in a comment stream here a few weeks ago.

  2. “The real threat to the west is not China, or even the ever present debt mountains, no conversely the real threat to the West is FEAR of the State, Fear of Litigation and Lack of Education. ”
    http://www.marketoracle.co.uk/Article39283.html

    Nadeem Walayat

    I suspect he underestimates what is happening in China but he does identify some fundamental problems in the West. The ascendance of China combined with the future results of the social and economic distortions in the West do not bode well.

  3. Murdoch press switch:

    Australian climate is on steroids: expert

    AUSTRALIA can expect more record heat over the next decade as a result of a “climate on steroids”, the climate commission warns.

    Speaking at the release of a new report by the commission, climate scientist Will Steffen says Australians are likely to experience even hotter temperatures over the next 10 years.

    “There is little doubt that these events will continue to become worse, the hottest temperature will become hotter, of longer duration and more frequent,” said Professor Steffen, who authored the report.

    “This is virtually certain because of the extra heat that is in the atmosphere … We have a climate on steroids.”

    Read more: http://www.news.com.au/breaking-news/national/summer-was-hottest-ever-report/story-e6frfku9-1226589614861#ixzz2MWin5f6u

  4. Here’s one for the usual suspects.

    http://www.canberratimes.com.au/national/public-service/retirees-cash-in-at-public-expense-20130303-2fezb.html

    “Thousands of federal public servants who received redundancy packages in recent years were close to retiring but held out for a final, taxpayer-funded bonus.

    One of Australia’s top superannuation specialists says the practice is a widespread rort that unlocks lucrative benefits for retirees but wastes many millions of public dollars.

    An analysis of five years of data, detailing 8760 redundancies, shows most payouts (62 per cent) under the Rudd and Gillard governments were given to staff aged over 50, and more than one in five to employees over 60.

    By comparison, only 30 per cent of the Australian Public Service workforce is aged 50 or older, and only 6 per cent is over 60.”

    • You’re quoting homemade junk “research” by non-climatologist non-meteorologist “contrarians” (read: idiots).

      The text is so risible:

      So does this mean the BoM’s estimate of Australia’s hottest day on 7 January is wrong? Maybe. Maybe not. 😯

      and ..

      The independent research team includes Chris Gillham, Ian Hill, Ed Thurstan, David Stockwell, Ken Stewart, Geoff Sherrington, Warwick Hughes and Anthony Cox (not a climate scientist or even a meteorologist in sight). 😀

  5. No wonder the al estate industry cops the scorn it so rightfully deserves;

    A Canberra real estate website has been forced to promise there will be no repeat of behaviour that could have encouraged price gouging among the city’s real estate agents.

    Allhomes found itself in trouble with the Australian Competition and Consumer Commission for telling 1000 local real estate agents they were being underpaid for their work and pledging to help ”restore reasonable agency fees”

    ‘Allhomes director Peter Blackshaw’ – is that the same person who has a real estate agency going by that name? Of course, the ACCC only issued a “who’s been a naughty boy then” warning.

    Read more: http://www.canberratimes.com.au/act-news/allhomes-warned-on-agents-fees-20130303-2fewc.html#ixzz2MYLb2DYw