Links 29 April 2013

Global Macro/Markets:

• The great economic experiment of 2013: Ben Bernanke vs. austerity – Washington Post
• Monetary policy: Can the Fed offset contractionary fiscal policy? – The Economist
• Monetarism Falls Short (Somewhat Wonkish) – New York Times
• The world wisely edges away from talk of a currency war – Financial Times
• Is gold really a safe-haven asset? – The Telegraph
• Opinion: Expect a Prolonged Slump – Wall Street Journal

North America:

• Pension Loans Drive Retirees Into More Debt – New York Times
• Standard & Poor’s and Moody’s settle US subprime lawsuits – Financial Times
• Two Senators Try to Slam the Door on Bank Bailouts – New York Times
• Barack Obama settles on the final members of his economic team – Financial Times
• Housing Markets Future Has Many Variables – New York Times
• What happens to workers who drop out of the labor force? – Sober Look
• Meet the man who’s selling Canada short – Globe & Mail
• Democrats ask: What debt crisis? – Politico
• Public and Private Sector Payroll Jobs: Bush and Obama – Calculated Risk
• Racial Wealth Gap Widened During Recession – New York Times
• Do State Business Taxes Really Matter? – The Atlantic

Europe:

• ECB Needs More Than A Rate Cut Or EUR Will Aggressively Fall – Citi – eFXnews
• Greens and SPD close ranks in battle against Angela Merkel – Financial Times
• Financial Transaction Tax ‘may add to eurozone’s debt woes’ – The Telegraph
• Joke Europeans – New York Times
• Greek parliament to vote on civil service job cuts – BBC
• German role in steering euro crisis could lead to disaster, warns expert – The Guardian

Asia:

• Long Live China’s Slowdown by Stephen S. Roach – Project Syndicate
• Bank of Japan Sends a Gift to U.S. Markets: Yield Seekers – Wall Street Journal
• China’s leaders warn on financial risks – Financial Times
• China’s Politburo Warns on Financial Risks as Recovery Falters – Bloomberg
• China Industrial Companies’ Profit Growth Slows as Economy Cools – Bloomberg
• Overcapacity plus slow global growth slow Chinese profits – The AFR

Local:

• $12 billion hit to revenue forecasts – The Australian; The Age; The AFR
• Crackdown on 457 visa rorting – The Australian; The Age
• ‘Gouging’ blamed for NBN delays – The Australian
• Beware the one-eyed budget brigade – The Age
• Analysts change tune on rate cuts – The AFR
• Hedge funds bide time on big four banks – The AFR
• Farmers nationwide in serious trouble – The AFR
• Big engineering projects near peak – The AFR
• Poking the housing bubble – The AFR

Other:

• Wall st.’s Criminal Behavior – NY Post
• Legal case threatens ratings agencies’ bottom line – abc.net.au
• Greenhouse gases in new danger zone – The Age