Links 17 April 2013

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Global Macro/Markets:

  • Response to the Kouk’s claim that gold is a novelty; a useless bubble – Bullion Baron
  • How the violent gold collapse may pose a systemic risk to the financial system – Quartz
  • Serious flaws in Reinhart-Rogoff’s public debt-to-GDP analysis – Rorty Bomb

North America:

Europe:

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  • EU votes against carbon market fix – Financial Times
  • British labour market: bad & getting worse – Bill Mitchell
  • Are Germans really poorer than Spaniards, Italians and Greeks? – VOX
  • Germany ‘too weak to withstand more stimulus’, says Angela Merkel – The Telegraph
  • Protecting the eurozone at all costs is undermining IMF’s validity – The Telegraph
  • Britain’s real minimum wage has fallen over the past 5 years – The Economist

Asia:

  • Soros likens China trusts to subprime – Finance Asia
  • China approves Glencore and Xstrata deal – Financial Times
  • China’s Pettis moment – FT Alphaville
  • China’s Growth Slows in 1Q: Only the Beginning? – The Diplomat
  • Moody’s lowers China outlook after Fitch downgrade – Reuters
  • Wage and Price Dynamics in a Large Emerging Economy: The Case of China – The Big Picture
  • South Korea Unveils Fiscal Package to Support Growth: Economy – Bloomberg
  • China Regulator Bans Lenders From Creating New LGFV Loans – Caijing
  • Why China won’t mind slower growth (but others will) – Financial Times

Local:

  • Flip-flop: Why the RBA is likely to cut interest rates in May – The Kouk
  • IMF: Australian growth to be 3% in 2013 – Business Spectator
  • Australia must wean itself from China – Bloomberg
  • Garnaut warns RBA may have to cap dollar – The Age

Other:

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  • “Rethinking Macro Policy II: First Steps and Early Lessons” – Econbrowser
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.