Links 7 March 2013

Global Macro/Markets:

  • Is the Dow the New Safe Haven? – CNBC
  • Towards a more procyclical financial system – VOX
  • Global economic recovery “built on a mirage” – The Australian 
  • The age of infinite equity? – FT Alphaville

North America:

  • Beige Book – March 6, 2013 – Federal Reserve
  • Fed’s Beige Book: Economic activity expanded at “modest to moderate” pace – Calculated Risk
  • Beige Book: District-by-District Summary of Conditions – Wall Street Journal
  • ADP: U.S. companies added 198,000 jobs in February – Washington Post
  • AIG to Start Loan Investment Unit as Housing Rebounds – Bloomberg
  • Forget Spending Cuts, the U.S. Economy Really Needs a $2 Trillion Stimulus – The Fiscal Times
  • In 2020, the “great senior sell-off” will start the next housing crisis – Quartz
  • Shale gas: bonanza or bane? – The Economist



  • Tax fails to end Chinese love of property – Financial Times
  • China Joining U.S. Shale Renaissance With $40 Billion – Bloomberg
  • Chinese go to town over GDP growth – The AFR
  • China & commodities: Investor forum – The AFR
  • Chinese couples flock to divorce to avoid new property sales tax – Yahoo News


  • Australia extends growth run to 21 years –
  • Vic Liberals in turmoil – The Australian
  • Challenges ahead as mining winds down – The Australian
  • Retail strips shutting down as recession bites – The Age
  • Bailout fund does the big banks plenty of favours – The Age
  • Costello conflict claim – The SMH
  • UBS cheats target key Australian interest rate – ABC


  • Niall Ferguson Vs Paul Krugman – Business Insider
  • Krugman on the Attack: Is Economist Too Insulting?: Video – Bloomberg
  • How did Venezuela change under Hugo Chávez? – The Guardian


  1. I’m terribly surprised (from Costello conflict claim link).

    “A complaint about former federal treasurer Peter Costello lodged with Queensland’s Crime and Misconduct Commission highlights potential conflicts of interest between his job overseeing the future of the state’s finances and his ownership of a lobby group representing companies that could benefit from state asset sales.”

  2. Global warming is about to remake worldwide shipping

    March 6, 2013

    As sea ice melts, one of climate change’s economic impacts will be faster shipping through historically unnavigable routes in the Arctic.

    FORTUNE — Call it a silver lining: Geographers are predicting that by mid-century [R2M comment: no, much, much sooner than that!], melting sea ice will open up new commercial shipping routes in the Arctic. That would shave off costly travel time in the late summer and reduce Russia’s control over trans-Arctic shipping. For the first time, icebreakers will be able to make a straight shot over the North Pole, and the treacherous but coveted Northwest Passage through Canada’s Arctic Archipelago will become a viable commercial route.

  3. John Williams Exposes US Government Lies

    06 March 2013.

    -The consumer is NOT back
    -The economy has not recovered
    -Even $5,000 gold is still a “buy”