Anzac Day links 25 April 2013

Global Macro/Markets:

• QE is ‘now a painkiller not an antibiotic’ – The Telegraph
• The state of modern macroeconomics – indescribable misery – larspsyll.wordpress.com
• Bitcoin’s Big Problem – bigthink.com
• Goldman Cuts Commodity Outlook as It Exits Bet on Gold Drop – Bloomberg
• Gold bubble pricked? – nordeamarkets.com
• Reinhart-Rogoff a Week Later: Why Does This Matter? – Next New Deal
• Inside the offbeat economics department that debunked Reinhart-Rogoff – Washington Post
• MacroMania: Why gold and bitcoin make lousy money – andolfatto.blogspot.com

North America:

• How far from full labor market recovery are we? Part I – epi.org
• Fed’s Balance Sheet Could Take Nearly 10 Years to Normalize – Wall Street Journal
• Only Richest 7% Saw Wealth Gains From 2009 to 2011 – Wall Street Journal
• Immigrants boost US housing recovery – Financial Times
• The slowdown in economic activity is right on schedule – for the 4th year in a row – Sober Look
• Housing Rebound in U.S. Hampered by Own Success as Costs Climb – Bloomberg

Europe:

• UK retools flagship credit scheme to help small firms – Reuters
• Bank of England extends Funding for Lending scheme – BBC
• Merkel defiant as austerity criticism mounts – Reuters
• UK economic growth set to pick up this year, says new MPC member – The Guardian
• Falling Interest Rates in Europe Aren’t Great News – Bloomberg Businessweek
• German Flash PMI – Business Insider
• Entire housing estate for sale in Galway – thejournal.ie
• ECB says ditching austerity would not help euro zone – Reuters
• Crisis for Europe as trust hits record low – The Guardian
• ECB: Annual Report – European Union

Asia:

• China Plans to Build New Generation of Bigger Aircraft Carriers – Bloomberg
• Deadly clashes in China’s Xinjiang – BBC

Local:

• Big four banks in a “sweet spot” – Interest.co.nz
• Australia to Buy China Bonds – Wall Street Journal
• RBA to invest in Chinese yuan – smh.com.au
• Inflation rings alarm bells – The Age
• Budget fears as more jobs to go – The Age
• Woodside eyes plan B for Browse – The Age
• Engineers feel squeeze on mining slowdown – The Age

Other:

• Auckland suburban dream still strong – Interest.co.nz. But Auckland Council will force urban consolidation anyway.
• RBNZ to maintain easy monetary policy through 2013 – Interest.co.nz
• Worldwide Defense Spending: A Snapshot – Conversable Economist