Weekend links 23-24 March 2013

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Global Macro/Markets:

  • Demand for stock funds plummets over Cyprus fears: Lipper – Reuters

North America:

  • US February oil demand down 4.1 pct from year ago -API – CNBC
  • Older Households Loading Up on Debt – Wall Street Journal
  • Baby Boomers Less Fit Than Last Generation, Study Finds – New York Times. And their kids are probably less fit again.
  • Is sequestration is here to stay? – Washington Post
  • Congress Is About to Make Financial System Even WORSE – Barry Riholtz

Europe:

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  • How the UK’s ‘help to buy’ scheme will work – The Guardian. This will be a policy disaster.
  • The Osborne Files: Britain’s Mr. Austerity Goes Socialist – New Yorker
  • Wealthy homeowners could use state backed loans to buy second homes – The Telegraph
  • Berlin is right to say no gain without pain – Financial Times
  • Is Cyprus the Canary in the Coal Mine?: Video – Bloomberg
  • Cyprus’s last-ditch plan – Wall Street Journal
  • Martin Wolf: Homes ruse will not rebuild the economy – Financial Times

Asia:

  • Good FT piece praising higher inflation as a tool to redistribute wealth from old rich savers in Japan to young/poor – Financial Times
  • HK home prices facing 20% drop as banks lift mortgage rates – Bloomberg
  • The “Fracking” Revolution Comes to China – Zero Hedge
  • As Pollution Worsens in China, Solutions Succumb to Infighting – New York Times
  • Indonesia’s Economy to Grow 6.2% in 2013: World Bank – thejakartaglobe.com
  • Singapore’s 2013 “Robin Hood” Budget – The Diplomat
  • Fixing China’s property prices – Financial Times
  • Asian Stocks Head for Largest Weekly Drop Since October – Bloomberg
  • OECD report sees China investment boom continuing, clear sailing ahead for China growth – Reuters; OECD

Local:

  • BIS Shrapnel talks BS on FHBs – The Age. Argues for more demand pumping whilst ignoring negative gearing.
  • Big business calls for expanded GST to boost infrastructure – ABC News. Paying for endless population growth.
  • Understanding transition to retirement pensions – SMSF Coach
  • Preview for this weekends auction market – REIV
  • Banks will go it alone on rate cuts: ACCC – The Age
  • Ferguson almost quit over bungled mining tax – The Australian
  • Power prices tipped to peak – The Australian
  • Rising debt will tie Swan’s hands – The AFR
  • Panic buying hits home in Perth – The AFR
  • Housing construction revives in Sydney, while Melbourne wilts – The AFR
  • APRA rejects tools to lean on housing boom – The AFR

Other:

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  • Why the Rich Don’t Give to Charity – The Atlantic
  • Income inequality is increasingly “permanently” – 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.